Biodegradable Stents Market: Key Insights
The biodegradable stents market is expected to grow in the coming years due to the escalating demand for minimally invasive procedures for treating cardiovascular diseases. Biodegradable stents are considered to be a safer and more effective alternative to traditional metal stents. They provide temporary support to the blood vessels and promote healing, reducing the risk of long-term complications. Additionally, the increasing adoption of biodegradable stents by healthcare providers and the rising awareness about these devices' benefits are expected to drive the market growth.
Furthermore, technological advancements and new biodegradable materials are driving the market growth. Developing biodegradable stents with improved biocompatibility and increased durability is expected to create growth opportunities for the market. The increasing investment in research and development by major players in the market is also expected to drive market growth. Additionally, the increasing focus on patient safety and the growing demand for innovative medical devices are expected to contribute to the biodegradable stents market growth. However, the high cost of biodegradable stents and the need for reimbursement policies in some countries may restrain the market growth.
Aging Population Around World to Drive Biodegradable Stents Market
The aging population around the world is a key factor driving the biodegradable stents market growth. As the population ages, the prevalence of cardiovascular diseases increases, leading to a growing demand for biodegradable stents. The aging population is also more susceptible to cardiovascular diseases due to the gradual decline in cardiovascular function, which can result in conditions such as coronary artery disease.
Additionally, the growing aging population is expected to increase the demand for minimally invasive procedures, such as percutaneous coronary intervention (PCI) which is usually performed using biodegradable stents. Older individuals prefer minimally invasive procedures as they are associated with fewer complications, faster recovery times, and reduced hospital stays. The accentuating demand for minimally invasive procedures is expected to drive the growth of the biodegradable stents market, as biodegradable stents are a safer and more effective alternative to traditional metal stents. The increasing geriatric population coupled with the rising awareness about the benefits of biodegradable stents is expected to escalate the market growth in the coming years.
Biodegradable Stents Market: Segmental Overview
The global biodegradable stents market is segmented based on material, absorption rate, and end user. Based on material, the biodegradable stents market is bifurcated into metallic-based stents and polymer-based stents. Based on absorption rate, the biodegradable stents market is bifurcated into fast-absorption stents and slow-absorption stents. Based on end user, the biodegradable stents market is segmented into hospitals, ambulatory surgery centers, and cardiac catheterization laboratories.
Based on material, the metallic-based stents segment held the substantial share of the global biodegradable stents market. The metallic-based stents segment is expected to drive the growth of the biodegradable stents market due to the high demand for traditional metal stents. Metallic-based stents are made of metals, such as stainless steel or cobalt-chromium, and are designed to provide long-term support to the blood vessels. These stents have been used in interventional cardiology procedures for several decades and are effective in improving blood flow and preventing restenosis.
Furthermore, the metallic-based stents segment is expected to benefit from the growing demand for minimally invasive procedures, such as percutaneous coronary intervention (PCI). Minimally invasive procedures are performed using metal stents, which provide a reliable and long-lasting solution for treating cardiovascular diseases. The increasing demand for minimally invasive procedures, along with the proven effectiveness of metal stents, is expected to drive the growth of the metallic-based stents segment and contribute to the overall growth of the biodegradable stents market. Additionally, the low cost of metallic-based stents, compared to polymer based biodegradable stents, is also expected to drive market growth in the coming years.
Biodegradable Stents Market: Competitive Landscape and Key Developments
Elixir Medical Corporation, ELLA CS, Abbott, Kyoto Medical Corporation, Biotronik, Lepu Medical Technology Co., Ltd, Boston Scientific Corporation, Terumo Corporation, STENTYS SA, and Arterius are among the key players operating in the biodegradable stents market. These companies have a widespread presence worldwide, which provides lucrative opportunities to serve many customers and expand the market.
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