Bioresorbable scaffolds: Rapid development in the bioresorbable scaffolds has encouraged the market growth in forecast period of 2017-2023

Pune, India, March 22, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Bioresorbable scaffolds Research Report.

Market Highlights

Bioresorbable scaffolds are like stents which are used during cardiovascular surgeries. They are valuable tools used for the treatment of different coronary diseases. According to WHO in 2014, approximately 18 million people died from cardiovascular diseases. Increasing prevalence of cardiovascular diseases, rising diabetic & obese population, and rapid development in technology have boosted this market’s growth. In addition to this, increasing stress, poor diet and lack of exercise have also contributed in the growth of this market. However, availability of alternative therapy may restrain this market’s growth.

The global bioresorbable scaffolds market is expected to grow at a CAGR of 18.9% during forecasted period 2017-2023.

Segmentation

The bioresorbable scaffolds market is segmented on the basis of material, types, application and end users. On the basis of material the market is classified into absorbable magnesium stent (AMS), polymeric scaffold, poly carbonate scaffold and others. On the basis of types, the market is segmented into drug eluting coronary scaffolds, everolimus-eluting device, novolimus-eluting device, sirolimus-eluting device, and paclitaxel-eluting device. On the basis of application, the market is segmented into peripheral vascular intervention, regulation of blood flow and others. On the basis of end users, the market is categorized into hospitals, clinics and others.

Regional Analysis

America continues to dominate the global bioresorbable scaffolds market, owing to the presence of huge population suffering from diabetes, obesity, and other cardiovascular diseases. Along with this, presence of large number of leading companies, rising geriatric population and high healthcare expenditure have also contributed to the growth of this market. Europe is the second largest market which is followed by Asia Pacific. Well-developed healthcare sector and government’s support for research and development have contributed to the highest growth of this market here. According to WHO, in 2016 around 5% of total India’s population were suffering from obesity. Increasing prevalence of peripheral vascular diseases, increasing number of obese people and aging population are major driving factors for the growth of this market in Asia Pacific.

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Many companies are focusing on research and development activities to improve quality of  bioresorbable scaffolds products.  Many companies are also focusing on the development of new products to overcome disadvantages of other available medical devices. Some of them have adopted strategies of acquisitions and strategic alliances for the growth of this market.

Abbott Laboratories is one of the leading healthcare company which is headquartered in US. The company is the primary player in this market with its drug-eluting BAS, Absorb BVS products ABSORB. GT1 is the most widely used Bioresorbable Vascular Scaffold (BVS) System manufactured by the company.

Boston Scientific Corporation is a global manufacturer and developer of medical devices, headquartered in US. SYNERGY family products are some of the major products of this company. In 2015, worldwide sales of the company’s drug-eluting coronary stents were $1.074 billion as compared to $1.151 billion in 2014.