Analyzing the Future of Bioabsorbable Stents Market Dynamics 2025-2034: Growth Rate, Trends, and Major Opportunities
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What is the Future CAGR of the Bioabsorbable Stents Market, and How Will It Impact Industry Expansion?
The market size of bioabsorbable stents has recently demonstrated significant growth. The market value is set to rise from $0.37 billion in 2024 to $0.41 billion in 2025, marking a compound annual growth rate (CAGR) of 9.9%. The market expansion during the historical period can be linked to the increasing occurrence of cardiovascular diseases, burgeoning demand for minimally invasive operations, heightened knowledge of bioabsorbable stents, elevated disposable income, and industry investments.
The market for bioabsorbable stents is poised for robust expansion in the foreseeable future. It is projected to reach a valuation of $0.59 billion by 2029, growing at a compound annual growth rate (CAGR) of approximately 9.8%. The expected growth during the forecast period can be credited to factors such as widened clinical applications, bespoke solutions and global spread, as well as being a more patient-friendly choice. Key trends that will shape the market during the forecast period include improvements in bioabsorbable materials, clinical progress, extensive clinical data and research, development of hybrid stent designs, extended absorption durations, along with collaborations and partnerships.
Which Major Market Drivers Are Expected to Boost the Bioabsorbable Stents Market’s Growth Potential?
The escalating incidence of heart failure is predicted to fuel the expansion of the bioabsorbable stents market. Heart failure, marked by a decrease in the heart muscle’s efficiency in pumping blood leading to excess fluid accumulation in the body, can be managed through the use of bioabsorbable stents to improve cardiac performance and alleviate symptoms. For example, as of February 2022, the Heart and Stroke Foundation of Canada, a leading authority on stroke, heart disease, surgeries, and treatments, states that the current count of individuals diagnosed with heart failure is 750,000 with an annual surge of 100,000 new cases of this untreatable condition. Forecasts suggest that by the year 2030, Canadian healthcare expenses associated with heart failure will likely reach $2.8 billion per year. As such, the rising prevalence of heart failure is set to drive the growth of the bioabsorbable stents market in the future.
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What Are the Top Market Players Propelling the Growth of the Bioabsorbable Stents Industry?
Major companies operating in the bioabsorbable stents market include Abbott Laboratories, REVA Medical Inc., Elixir Medical Corporation, Biotronik SE & Co. KG, Amaranth Medical Inc., Zorion Medical Inc., Tepha Inc., S3V Vascular Technologies, ICON Interventional Systems Inc., Arterius Limited, Microport Scientific Corporation, Meril Life Sciences Pvt. Ltd., Medlogics Device Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, C.R. Bard Inc., Stentys SA, Terumo Corporation, OrbusNeich, Arterial Remodeling Technologies, Cardionovum GmbH, Envision Scientific Pvt Ltd., Eurocor GmbH, Hexacath, Kyoto Medical Planning Co. Ltd., Lifetech Scientific (Shenzhen) Co. Ltd., Manli Cardiology Limited, Medtronic Inc., QualiMed Innovative Medizinprodukte GmbH, Sahajanand Medical Technologies Pvt. Ltd., Sinomed, Surmodics Inc., Translumina Therapeutics, Vascular Concepts Limited, Xenogenics Corporation
What Are the Key Trends to Watch in the Bioabsorbable Stents Market Over the Coming Years?
Many key players in the bioabsorbable stents industry are putting their resources into the research and development of cutting-edge technologies, like the newest generation of bioresorbable cardiac stents, to realize higher profits. This new generation of bioresorbable cardiac stents represents a high-tech medical innovation produced from biodegradable substances that disintegrate gradually after fulfilling their purpose of keeping the artery unblocked. For example, in July 2024, China’s MicroPort Scientific Corporation obtained the green light from China’s National Medical Products Administration (NMPA) to launch the very first next-generation fully bioresorbable cardiac stent in the world. Crafted by MicroPort Scientific Corporation, Firesorb is engineered to vanish completely within a three-year span, largely diminishing long-term risks like thrombosis. Clinical studies performed on 1,468 individuals reported encouraging outcomes including a minimal thrombosis probability of 0.32% and a four-year target lesion failure rate standing at a mere 4.3%. The stent’s innovative slender strut construction and improved endothelial coverage compared to older stent models have won the acclaim of top medical professionals.
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Which Key Segments of the Bioabsorbable Stents Market Are Poised for Growth and Innovation?
The bioabsorbable stents market covered in this report is segmented –
1) By Product Type: Polymer-Based Bioabsorbable Stents, Metal-Based Bioabsorbable Stents
2) By Absorption Rate: Slow- Absorption Stents, Fast- Absorption Stents
3) By Applications: Coronary Artery Diseases, Peripheral Artery Diseases
Subsegments:
1) By Polymer-Based Bioabsorbable Stents: PLGA (Poly(Lactic-Co-Glycolic Acid)) Stents, PGA (Polyglycolic Acid) Stents, PLLA (Poly(L-Lactic Acid)) Stents, Other Biodegradable Polymer Stents
2) By Metal-Based Bioabsorbable Stents: Magnesium-Based Stents, Iron-Based Stents, Zinc-Based Stents, Other Metal-Based Bioabsorbable Stents
What Regions Are Dominating the Bioabsorbable Stents Market Growth?
North America was the largest region in the bioabsorbable stents market in 2023. Western Europe was the second-largest region in the bioabsorbable stents market report. The regions covered in the bioabsorbable stents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Are the Defining Aspects of the Bioabsorbable Stents Market Landscape?
Bioabsorbable stents are tubes inserted into blood vessels to unblock passageways and dissolve in the body after a period of time.
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