The Global Market for Bioresorbable Scaffolds is Forecast to Reach US$257 Million by 2024
Despite
Controversies and Uncertainties, Innovative Devices Will Continue to Drive the Global
Bioresorbable Scaffolds Market, According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size, and demand forecasts on the global Bioresorbable Scaffolds
market. The
global market for Bioresorbable Scaffolds is forecast to reach US$257 million
by the year 2024, despite controversies related to Absorb. Key factors
expected to drive growth include the potential of various currently available
and pipeline devices.
The
global bioresorbable scaffolds market is presently marred with controversies
and uncertainities due to the adverse events reported by the once-promising
first FDA approved device, Absorb. The failure of Absorb in clinical practice
is expected to have a domino effect on further R&D, with few companies
unwilling to invest millions of dollars into a technology that witnessed
unfavorable results. Nevertheless, bioresorbable stents are still considered to
be a groundbreaking technology in interventional cardiology, with various
companies undertaking research in terms of strut thickness and materials used. The next-generation BVS technology will yield
products that are sexpected to perform better.
Technological
advancements, over the years, have led to the development of bioresorbable
scaffolds made up of polyactides. A revolutionizing device, bioresorbable
scaffold, is completely replacing the gold standard - “Drug-Eluting Stent
(DES)”. Bioresorbable scaffolds, dubbed as the fourth revolution in
percutaneous and coronary intervention after balloon angioplasty, bare metal
stents, and drug-eluting stents, appear as one of the most promising fields in interventional
cardiology, offering numerous potential benefits over permanent implants
for treating coronary artery disease. Supported by advantages such as greater
patient compliance, better patient outcomes, and lesser requirements for
anti-platelet therapy, and administration of anti-thrombotic drugs,
bioresorbable scaffolds are projected to capture a large physician and patient
audience. Over the years, fears of undesirable side effects such as late stent
thrombosis led to a frenzied search and demand for newer patient friendly and
safe variants of drug-eluting stents, including bioabsorbable polymer-coated
stents, polymer-free stents, and fully bioresorbable scaffolds. Under the given
scenario, successful commercialization of bioresorbable scaffolds is likely to
take the treatment of coronary artery diseases to the next frontier of
development.
As
stated by the new market research report on Bioresorbable
Scaffolds, Europe remains the dominant market worldwide supported by four
approved stents presently available in the market. Asia-Pacific is expected to
boost long-term market growth, due to strong economic activity, focus on affordable
healthcare, and significantly large untapped market potential. Following the
discontinuation of Absorb sales, the United States presently does not have any
approved bioresorbable devices.
Key
players in the market include Abbott Laboratories, Amaranth Medical Inc.,
Arterial Remodeling Technologies SA, Biotronik SE & Co. KG, Elixir Medical
Corp., Kyoto Medical Planning Co. Ltd., and Reva Medical Inc., among others.
The
research report titled “Bioresorbable
Scaffolds : A Global Strategic Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive review of current market
scenario, the clinical trials, available stents, pipeline stents, product
approvals, corporate initiatives, and profiles of major and niche players. Major
geographic regions covered include the United States, Europe, Asia-Pacific, and
Rest of World.
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