The latest market report published by Credence Research, Inc. “Bioresorbable Vascular Scaffold Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the bioresorbable vascular scaffold market was valued at US$ 165.8 Mn in 2018, expected to grow at a CAGR of 10.3% during the forecast period from 2019 to 2027.
The global bioresorbable vascular scaffold market is increasing efficiently from 2019 to 2027 accredited to increase in hospital admissions for heart related disorders along with enhanced biosynthetic and polymer technology in the stent industry globally. Increasing FDA approvals for new coronary stents with upgraded technology along with huge pipeline products in the polymer segment such as polyesters, corrodible metals, polycarbonates, and bacterial-derived polymers will drive the market growth in the near future. For e.g. in July 2016 Abbott Laboratories received the U.S. FDA approval for Bioresorbable Vascular Scaffold (BVS; Abbott Vascular), for long term clinical outcomes, mainly designed to overcome the limitations of metallic stents.
Top corporations are mainly focusing on new product development and FDA clearance on a global scale, mainly in the U.S. and Europe. Increasing number of partnerships and mergers with medical technology organizations and research institutes internationally will boost the market growth internationally. The prominent position of the North America market is primarily accredited to rising prevalence of cardiac and pulmonary disorders, high life expectancy contributing to large pool of geriatric and obese population, better reimbursements to implantable devices and domicile of major market players in the U.S. market. The key factors responsible for driving the market are developing healthcare infrastructure & product accessibility, rising prevalence of cardiac arrhythmia, growing awareness related to early diagnosis & treatment, and new technology expansion along with implantation procedures.
Key Market Movements:
- Globally, the bioresorbable vascular scaffold is growing at a CAGR of 10.3% for the period from 2019 to 2027
- Factors that contribute to market growth are rising prevalence of cardiac arrhythmia, carotid artery disease, renal artery stenosis, peripheral arterial disease, and other heart related disorders along with increasing surgical procedures globally.
- Rising public health awareness and affordable reimbursement scenario drive the market growth the Asia Pacific region
- Increasing funding by private organizations for expansion of cardiac care hospitals and cardiology centres for better treatment options along with enhanced technology expansion in emerging countries will expand globally
- Major players in this vertical are Cook Medical, Medtronic, plc., Abbott Laboratories, Stentys SA, C. R. Bard, Inc., MAQUET Holding B.V. & Co. KG, Boston Scientific Corporation, Terumo Corporation, W.L. Gore & Associates, Boston Scientific Corporation, AngioDynamics, Inc., Vygon Ltd. and others
Browse the full report at https://www.credenceresearch.com/report/bioresorbable-vascular-scaffold-market
The Global Bioresorbable Vascular Scaffold Market is Segmented into:
|Segmentation||By Material Type (2017–2027; US$ Mn)|
|By Disease Indication (2017–2027; US$ Mn)|
|By End User Segment (2017–2027; US$ Mn)|
|By Geography Segment (2017–2027; US$ Mn)|
*Complete segmentation list is on report page