February 22, 2024
Absorbable Heart Stent Market to Witness a Growth Trajectory of US$ 822.7 Million by 2031
Absorbable Heart Stent Market to Witness a Growth Trajectory of US$ 822.7 Million by 2031CHICAGO, UNITED STATES, June 7, 2023/EINPresswire.com/ — Global absorbable heart stent market recorded revenue of...

CHICAGO, UNITED STATES, June 7, 2023/EINPresswire.com/ — Global absorbable heart stent market recorded revenue of US$ 307.1 million in 2022 and is expected to reach a valuation of US$ 822.7 million by 2031, registering a CAGR of 12.02% during the forecast period 2023–2031.

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Increasing adoption of minimally invasive procedures, the prevalence of coronary artery disease, and the population’s aging trend are some of the factors boosting the absorbable cardiac stents market. Biodegradable substances like polyglycolic acid (PGA), polylactic acid (PLA), and poly (lactic-co-glycolic acid) (PLGA) are used in the manufacture of absorbable cardiac stents. These substances were picked for their biocompatibility and potential for long-term absorption by the body.

The World Health Organization (WHO) states that the highest cause of death worldwide is cardiovascular disease (CVD). According to estimates, 18 million deaths worldwide in 2021 were attributable to CVD, or 32% of all fatalities. Although CVD death rates vary by nation and region, they are typically greater in low- and middle-income nations. Globally, the age-standardized death rate from CVD in 2021 was 272 per 100,000 people.

With almost 18 million deaths reported in 2019, including 8.9 million deaths of women and 9.6 million deaths of men, CVD accounted for about a third of all deaths globally. Surprisingly, more than 6 million of these fatalities hit persons between the ages of 30 and 70, with China, India, Russia, the US, and Indonesia being the most severely affected nations.

The benefits of minimally invasive surgery include less pain, fewer problems, and shorter hospital stays. In cardiothoracic surgery, gastroenterology, gynecological surgery, cardiac surgery, pediatric surgery, urogynecology and pelvic reconstructive surgery, and urological surgery, these surgical methods are increasingly using absorbable heart stents.

Polymer Stent to Attain a Revenue Opportunity of US$ 480 Million

The polymer stent segment dominated the global absorbable heart stents market and is likely to generate an opportunity of US$ 480 Mn by 2030. Heart stents composed of biodegradable polymers are now available due to recent developments in the manufacturing of medical devices. These devices have minimal long-term side effects because they are made to be permanently implanted in the body and slowly decay over time.

Polymers are the material of choice for the manufacture of absorbable heart stents due to their outstanding biocompatibility, low thrombogenicity, and superior mechanical qualities. When compared to other materials like metals, polymers are also comparatively affordable.

Fast Absorption Rates are Preferred by Surgeons

The fast absorption heart stents segment held a share of 70% of the global absorbable heart stent market. The majority of surgeons favor this product because it offers the best combination of strength and degradation time, and maintains structural integrity for long enough to support the vessel wall during the healing process. Additionally, biopolymers design for quick disintegration help to create fast-absorption cardiac stents. These biopolymers, which have undergone significant research and have shown biocompatibility and biodegradability in clinical studies, include polylactic acid (PLA), polyglycolic acid (PGA), and polycaprolactone (PCL). An easier production procedure compared to typical metal stents supports segmental growth.

Absorbable Heart Stents are Majorly Used in Coronary Heart Disease

The coronary heart disease segment accounted for the major revenue share of the global absorbable heart stent market and is likely to record a revenue of US$ 530 million by 2030. The quest for efficient therapies for this problem has increased the usage of absorbable heart stents. It has become the main cause of morbidity and mortality worldwide. The increasing frequency of CHD, particularly in aging populations, is one of the primary causes of segment growth. The expanding need for efficient CHD treatments is also due to the rising prevalence of risk factors like obesity, diabetes, and hypertension.

Asia Pacific Attained a Revenue Share of US$ 111.82 Million

Asia Pacific is projected to generate a market share of more than 35%. Due to the availability of cutting-edge technology and benevolent reimbursement rules, the region produced revenues of US$ 111.82 million in 2021.

The need for medical equipment and treatments is increasing as the Asia Pacific region’s economy continues to expand quickly. Since they can naturally dissolve over time in the body, absorbable cardiac stents are one of these technologies that are gaining popularity.

Due to the rising demand for these products and the expanding number of reasonably priced therapies, the Asia Pacific region is anticipated to hold the greatest market share for absorbable heart stents over the next five years.

We credit a number of reasons, including the rising incidence of cardiovascular diseases in the region, the aging of the population, and the availability of reimbursement policies for treatments utilizing these devices, for the expansion of the Asia Pacific absorbable heart stent market.

Top 10 Players Controlling More Than 80% of the Revenue

Many well-known players are working in the extremely competitive market for absorbable cardiac stents. Over 80% of the market’s revenue is held by the top 10 companies, demonstrating the dominance of well-established competitors. Boston Scientific Corporation is the market’s second-largest competitor after Abbott. Each business is well-established in the market and has a sizable product line and network of distributors.

Medtronic, Inc., Terumo Corporation, Biosensors International Group, Ltd., Biotronik SE & Co. KG, Elixir Medical Corporation, Kyoto Medical Planning Co., Ltd., Reva Medical, Inc., and Arterial Remodelling Technologies are some more prominent market participants.

These businesses in the market for absorbable heart stents concentrate on research and development to create novel products. They also participate in strategic alliances and partnerships to increase their exposure and market share. In order to raise brand awareness and draw in new clients, they also make significant investments in marketing and advertising.

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Some of the reputed competitors in the global absorbable heart stent market are:

Abbott Laboratories

Arterial Remodeling Technologies

B. Braun Melsungen AG

Biotronik

Boston Scientific Corporation

Elixir Medical Corporation

Kyoto Medical Planning

Medtronic

Meril Life Sciences Pvt. Ltd

Reva MedicalTerumo Medical Corporation

Lepu Medical Technology Co.

Other Prominent Players

Segmentation Outline

The global absorbable heart stent market segmentation focuses on Material, Absorption Rate, Application, End-User, and Region.

By Material

Metallic Stents

Polymer Stents

By Absorption Rate

Slow absorption rate

Fast absorption rate

By Application

Coronary Artery Disease

Peripheral Artery Disease

By End-User

Hospitals & Clinics

Cardiovascular Centers

Research Institutes & Organizations

Others

By Region

North America

The U.S.

Canada

Mexico

Europe

The U.K.

Germany

France

Italy

Spain

Poland

Russia

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Australia & New Zealand

ASEAN

Rest of Asia Pacific

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

UAE

Saudi Arabia

South Africa

Rest of Middle East & Africa

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Article originally published on www.einpresswire.com as Absorbable Heart Stent Market to Witness a Growth Trajectory of US$ 822.7 Million by 2031

originally published at HUMAN RIGHTS - USA DAILY NEWS 24