Bioabsorbable vascular scaffolds Market
Bioabsorbable vascular scaffolds Market projected to generate significant sales for the market players over the forecast period
Bioabsorbable vascular scaffolds Market
Bioabsorbable vascular scaffolds are naturally dissolving scaffolds used in the treatment of coronary artery disease (CAD). These are the latest development in stent technology made up of metal and coated with a polymer containing anti-proliferative drugs such as Sirolimus or Everolimus. These Bioabsorbable vascular scaffolds disintegrated in the human body. Hence, these stents remove the post-treatment operations and prevents the inflammation leading to thrombosis and stent restenosis. Bioabsorbable vascular scaffolds are inserted by percutaneous transluminal coronary angioplasty and commonly preferred over the permanent implants owing to need anticoagulation treatment for a long time and reduce host/device interaction.
The major driving factors are rise in incidences of cardiac disorders such as peripheral and coronary artery diseases and increase in the prevalence of obesity. Moreover, newer products, technological advancements for new products, rise in demand for biocompatible and safe coronary stents, and degradation time for the stents might boost the growth of bioabsorbable vascular scaffolds market. However, stringent regulatory guidelines, slow adoption of stents in the disease management, lack of reimbursement policies, and the alternative treatment for the coronary artery diseases will hinder the growth of global bioabsorbable vascular scaffolds market.
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The bioabsorbable vascular scaffolds market is categorized as under-
1. Product type
• Synthetic
• Biological
• Biosynthetic
2. Material type
• Metal based BVS
• Polymer based BVS
3. Applications
• Coronary Artery Stents
• Peripheral Artery Stents
4. End-users
Hospitals, cardiac centers and ambulatory surgical centers.
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And lastly, on the basis of geographical regions, global bioabsorbable vascular scaffolds market has been divided into five major regions-Europe, North America, Asia-Pacific, Latin America, and Middle East & Africa. North America region holds the largest share in the global bioabsorbable vascular scaffolds market owing to technological advancements, increased awareness regarding the treatment of coronary disorders in bioabsorbable vascular stents, and products available in the pipeline help in the growth of global bioabsorbable vascular scaffolds market. Europe region is next in the line expected to hold a significant growth attributed to increase in geriatric population, change in lifestyle, increase in healthcare infrastructure, and technological advancements. However, Asia-Pacific witness a significant growth rate in bioabsorbable vascular scaffolds market owing to increase in awareness about peripheral and coronary artery diseases, favorable government policies, and low cost for the stents in Asia Pacific countries such as India bolster the market. Latin America and the Middle East and Africa has a lucrative growth in Bioabsorbable vascular scaffolds market attributed to increase in initiatives by the private and public sectors and entry of new products into the market.
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Some of the players in global bioabsorbable vascular scaffolds market are Medtronic (U.S.), Abbott Laboratories (U.S), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), Biotronik SE & Co. KG (Germany), C.R. Bard Inc. (U.S.), Stentys SA (France), Svelte Medical Systems, Inc. (U.S.), and REVA Medical, Inc. (U.S.), to name a few. In 2017, REVA Medical’s Fantom sirolimus-eluting bioresorbable scaffold received CE mark. While in 2016, FDA approved the Absorb GT Bioresorbable Vascular Scaffold (BVS) System manufactured by Abbott Vascular, Inc.
The global bioabsorbable vascular scaffolds market is in the nascent stage, rise in R&D is expected to offer novel products to global bioabsorbable vascular scaffolds market. Under ‘Medtronic CardioVascular Bioabsorbable’ program Medtronic Inc. is focusing to develop completely bioabsorbable scaffolds for superficial femoral arteries. The global bioabsorbable vascular scaffolds market is anticipated to grow at a tremendous rate due to increase in technological innovations. New product launches, approvals from various regulatory bodies, collaborations will boosting the growth of global bioabsorbable vascular scaffolds market. For instance, in August 2015, Abbott Vascular received CE mark approval for bioabsorbable vascular scaffold with catheter delivery system. Similarly, in 2013, FDA granted approval for Xience Xpedition manufactured by Abbott Vascular, Inc. and the company launched the product in U.S. Even though technological and clinical development of bioabsorbable vascular stents is not yet complete and possible clinical benefits over metallic stents are still unrevealed, there are no solid reasons that can limit the clinical use of bioabsorbable vascular scaffolds.
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