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What Is the Forecast for the Resorbable Vascular Scaffolds Market from 2024 to 2025?
In recent times, there has been a swift expansion in the resorbable vascular scaffolds market size. It is projected to bolster from $0.46 billion in 2024 to $0.52 billion in 2025 with a compound annual growth rate (CAGR) of 12.9%. This considerable rise in the historical phase can be credited to the escalating occurrence of cardiovascular conditions, enhanced health awareness among consumers, a surge in coronary artery disease (CAD) cases, an increased inclination towards minimally invasive procedures, and a heightened presence of diabetes.
What Is the Projected Market Size of the Resorbable Vascular Scaffolds Market?
The market size for resorbable vascular scaffolds is projected to experience a swift expansion in the upcoming years, escalating to $0.83 billion in 2029, at a Compound Annual Growth Rate (CAGR) of 12.6%. The anticipated growth during the forecast period is due to the increasing threat of coronary artery disease (CAD) and peripheral artery disease (PAD) among the elderly, rising funds allocated for research and development (R&D) of surgical methods, an expanding aged population, heightened healthcare expenditure, and a growing prevalence of coronary artery disease. The forecast period also marks significant trends such as a preference for drug-eluting devices in angioplasty, enhancements in technology and product innovation, progress in stent technology, and developments in diagnostic technologies.
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Who are the Major Competitors in the Resorbable Vascular Scaffolds Market Outlook?
Major companies operating in the resorbable vascular scaffolds market are Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, Terumo Corporation, Getinge Group, Biotronik, LivaNova plc, Lepu Medical Technology, Gore Medical, Biosensors International, Blue Medical, Reva Medical, Elixir Medical, S3V Vascular Technologies, Amaranth Medical Inc., Meril Life Sciences Pvt. Ltd., Arterius Limited, Zorion Medical, Kyoto Medical Planning Co. Ltd., ICON Interventional Systems.
What Is Fueling Growth in the Resorbable Vascular Scaffolds Market?
The rise in cardiovascular disease incidence is projected to fuel the expansion of the resorbable vascular scaffolds market in the future. These diseases are influenced by several factors including unhealthy lifestyle habits, age, hypertension, high cholesterol, diabetes, smoking, and genetic predispositions. Resorbable vascular scaffolds are transforming cardiovascular disease treatment by offering temporary structural assistance to reestablish blood circulation, gradually dissolving over time. This reduces long-term complications tied to permanent implants, fosters natural vessel restoration and functionality. For instance, in September 2024, the Minnesota Department of Health, a state agency in the US, reported that in 2023, about 4%, or nearly 180,000 adults in Minnesota, had suffered a heart attack. Furthermore, heart disease caused roughly 17% of total deaths in the state, leading to 8,972 deaths in 2022. Consequently, the escalating incidence of cardiovascular diseases is propelling the growth of the resorbable vascular scaffolds market.
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Which Resorbable Vascular Scaffolds Market Segments Are Growing the Fastest?
The resorbable vascular scaffolds market covered in this report is segmented –
1) By Product Design: Multilumen, Single Lumen
2) By Material Type: Poly-Glycolic Acid, Poly-L-Lactic Acid, Poly-L-Lactic-Co-Glycolic Acid
3) By Deployment Technique: Balloon-Expandable, Self-Expandable
4) By Application: Coronary Artery Disease, Peripheral Vascular Disease, Pulmonary Artery Disease
5) By End User: Ambulatory Surgical Centers, Hospitals, Specialty Clinics
Subsegments:
1) By Multilumen: Helical Design, Braided Design, Other Multilumen Designs
2) By Single Lumen: Straight Tube Design, Corrugated Tube Design, Other Single Lumen Designs
Which Industry Trends Are Shaping the Future of the Resorbable Vascular Scaffolds Market?
Key players in the resorbable vascular scaffolds industry are advancing magnesium scaffolds in a bid to enhance biocompatibility and bolster mechanical support. These scaffolds encourage the natural healing process of vessels, reducing the inflammation and complications typically linked with conventional polymer-based scaffolds. A case in point is Biotronik, a medical device firm based in Germany, which, in March 2024, obtained a breakthrough device designation from the Food and Drug Administration (FDA) for its Freesolve resorbable magnesium scaffold for below-the-knee (BTK RMS). Specifically designed for patients with chronic limb-threatening ischemia (CLTI), the Freesolve RMS provides an innovative treatment alternative for BTK interventions. Leveraging BIOmag magnesium alloy and Orsiro drug-eluting stent (DES) coating technology, the device ensures superior safety, delivery, and vessel support. It offers temporary support to counter vessel recoil during the healing phase.
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Which Countries Are Leading the Resorbable Vascular Scaffolds Market?
North America was the largest region in the resorbable vascular scaffolds market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the resorbable vascular scaffolds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the resorbable vascular scaffolds market, and how is it changing globally?
2. Who are the major companies in the resorbable vascular scaffolds market, and how are they performing?
3. What are the key opportunities and risks in the resorbable vascular scaffolds market right now?
4. Which products or customer segments are growing the most in the resorbable vascular scaffolds market?
5. What factors are helping or slowing down the growth of the resorbable vascular scaffolds market?
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