The Future of theBig Data and Analytics Services Market: Growth Trends, Market Size, and Opportunities to Watch
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theBioabsorbable Stents Market?
The bioabsorbable stents market is projected to grow in response to the increasing rate of heart failure. Bioabsorbable stents are used to enhance cardiac performance and mitigate symptoms in heart failure patients. According to the Heart and Stroke Foundation of Canada, there are currently 750,000 individuals diagnosed with heart failure in Canada, with 100,000 new cases annually. As heart failure rates continue to rise, the demand for bioabsorbable stents will increase, fueling market growth.
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What is the Predicted Annual Growth Rate of theBioabsorbable Stents Market Impact Industry Trends by 2034?
The bioabsorbable stents market has shown strong performance. It is projected to rise from $0.37 billion in 2024 to $0.41 billion in 2025, growing at a CAGR of 9.9%. Key drivers have included a rise in heart-related conditions, preference for minimally invasive options, rising awareness of these devices, growing income levels, and increased industry investment.
The bioabsorbable stents market is projected to grow to $0.59 billion by 2029, with a CAGR of 9.8%. This market will be driven by expanded clinical indications, the rise in patient-friendly options, and customization in stent designs. Major trends include advancements in bioabsorbable materials, clinical innovations, hybrid stent designs, and longer absorption periods, along with increased collaborations and partnerships within the healthcare sector.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theBioabsorbable Stents Market?
Companies in the bioabsorbable stents market are focused on introducing cutting-edge products like next-generation bioresorbable cardiac stents to improve patient outcomes. These stents dissolve over time, reducing long-term risks. In July 2024, MicroPort Scientific Corporation, a China-based medical device company, gained approval for Firesorb, a stent that dissolves in three years. Clinical trials showed a low thrombosis rate (0.32%) and a 4.3% failure rate over four years, highlighting its advanced design and performance.
Who Are the Key Market Players Influencing the Growth of the Corn and 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
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Which Key Market Segments Comprise the Bioabsorbable Stents Market and Drive Its Revenue Growth?
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
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Which Regions Are Emerging as Leaders in the Bioabsorbable Stents Market?
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.
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