MARKET OVERVIEW
Stent is referred to as a device that is inserted into internal duct or a blood vessel to inflate the vessel and avoid blockage of arteries. These stents are also known as bioabsorbable stents. They are tiny and expandable mesh tubes that hold arteries open and help treat coronary and peripheral artery diseases. Biodegradable stents are manufactured from material which has dissolving properties, so over the period these stents are easily absorbed in body. Biodegradable stents available in market mainly in two types of material polymeric stents, metallic stents.
MARKET SCOPE
The "Global Biodegradable Stents Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the biodegradable stents market with detailed market segmentation by material, absorption rate, end user, and geography. The report provides key statistics on the market status of the leading biodegradable stents market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on material, the market is segmented as metallic-based stents, and polymer-based stents.
- Based on absorption rate, the market is segmented as fast-absorption stents, and slow-absorption stents.
- Based on end user, the market is segmented as hospitals, ambulatory surgery centers, and cardiac catheterization laboratories.
MARKET DYNAMICS
Drivers
- Increasing prevalence of coronary and peripheral artery diseases, and growing preference of patients for minimally invasive therapies is the major driving factor for the growth of bioabsorbable stents market.
- Aging population around world is attributed to growth of biodegradable stents market. On other hand, increasing applications of the biodegradable stents are expected to offer growth opportunities for the players operating in the market.
Restraints
- Presence of substitutes available for treating blocked arteries as well as CAD and PAD is likely to restraint the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The biodegradable stents market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the biodegradable stents market in these regions.
IMPACT OF COVID-19 ON BIODEGRADABLE STENTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. However, the overall business breakdown due to COVID-19 has negatively influenced the growth of the biodegradable stents market due to the shutting down of factories, an obstruction in the supply chain, and a downturn in the world economy. The decline in the market is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving remote working, social distancing, and the closure of industries and other commercial activities.
MARKET PLAYERS
The report covers key developments in the biodegradable stents market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from biodegradable stents market are anticipated to lucrative growth opportunities in the future with the rising demand for biodegradable stents in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the biodegradable stents market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Elixir Medical Corporation.
- ELLA
- CS, s.r.o.
- Abbott.
- Kyoto Medical Corporation
- Biotronik
- Lepu Medical Technology Co., Ltd
- Boston Scientific Corporation
- Terumo Corporation
- STENTYS SA
- Arterius
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.