(PharmaNewsWire.Com, March 05, 2018 ) The report "Bioabsorbable Stents Market by Material (Polymer stents, Metallic stents), by absorption (Slow absorption stents, High absorption stents), by application (coronary artery disease, peripheral artery disease), by end user (Hospitals, Cardiac centers) - Forecast to 2021", The Bioabsorbable Stents market is expected to reach USD 1.8 Billion by 2021 from an estimated USD 0.315 Billion in 2016, at a CAGR of 41.64%. The key factors such as upsurge of peripheral vascular diseases, change in way of life and maturing population and the innovative technology in the development of new devices are driving the growth of the global market.
By material, the polymer segment accounted for the largest share of the market in 2016
On the basis of products, the Bioabsorbable Stents market has been segmented into polymer stents, and metallic stents. Polymer stents are expected to grow at a higher CGAR compared to metallic stentsBy absorption rate, the slow absorption segment accounted for the largest share of the market in 2016
On the basis of absorption rate, the Bioabsorbable Stents market has been segmented into slow absorption rate stents and high absorption rate stents. In 2016, market for slow absorption stents is predicted to be on the higher side. On the basis of application, the market is segmented into coronary artery disease and peripheral artery disease. Coronary artery disease is expected to have larger share than peripheral artery disease.
By end user, hospitals accounted for the major market share in 2016.On the basis of end users, the market is segmented into hospitals and cardiac centres. Hospitals accounted for the major market share owing to the larger use of stents in surgeries and other applications.
North America accounted for the largest share of the Bioabsorbable Stents market in 2016, followed by Europe. The large share of the Bioabsorbable Stents market in North America can be attributed to the growth in technology, growing disposable incomes, and the rising incidence of vascular ailments. Europe holds the second major market for Bioabsorbable Stents owing to acceptance of advanced technology in biotechnology and research sector and innovation technologies.
The various players in the Bioabsorbable Stents market include Elixir Medical Corporation, Arteries Limited, Amaranth Medical Inc, Abbott Laboratories, Arterial Remodeling Technologies S.A, Biotronik, Kyoto Medical Planning Co Ltd., Reva Medical Inc, Tepha.Inc, SMT, Xenogenics Corporation
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