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The market for bioresorbable scaffolds is witnessing a surge due to the increasing preference for minimally invasive procedures. Patients and healthcare professionals alike are recognizing the benefits of procedures that involve bioresorbable scaffolds, such as reduced recovery times and lower risk of complications.
The developments in biomaterials are the centerpiece of developing a scaffolds market for bioresorbable scaffolds. Alternative ongoing research and development processes are aimed at improving such mechanical properties and biocompatibility of those scaffolds. Many biomaterials have been introduced as the industry continue balance and new ones continue to contribute to the scaling up of bioresorbable scaffolds in medicine.
The huge market dynamic affecting the use of reabsorbable scaffolds is their quick expansion of cardiovascular maladies. Residuals of these scaffolds become very important in treating coronary artery diseases where they act as a transient scaffold, supporting blood vessels until they eventually resorb with time. Innovations like bioresorbable scaffold are needed due to the rising heart disease and this highlights the need to come up with solutions to heart disease.
Influencing the bioresorbable scaffolds market are government undertakings and regulatory approvals. Having regulatory bodies verifies these devices and provides clearances which makes healthcare providers and patients confident and thus subsequently leads to market’s growth. Secondly, supportive policies and investment programs also ensure the growth of R and D work in this area.
Strategic alliances stand among the notable players driving the market dynamics. Some of the companies have started to merge their competencies, to allocate sources and, thereby, hasten the process of creating and commercializing bioresorbable scaffolds. Such liaisons make it easier to attain and rapidly penetrate broader markets and have access to complementary technologies.
Bioresorbable scaffolds awareness is a key market driver. Hemopooactive scaffolds education campaigns conducted by such organizations include healthcare organizations, and further bodies from the industry guide the healthcare professionals and patients on the benefits and uses of these scaffolds. The observed situation leads to acceptance of and adoption by attending in clinical environments.
But the competitive landscape and the ability of companies to differentiate their products define the bioresorbable scaffolds market. In design, materials and manufacture, companies are able to differentiate themselves and therefore innovating, attracting the advances that healthcare providers seek to keep their patients safe and viable.
It poses challenges to manufacturing and even quality control to the market for bioresorbable scaffolds. Delivering a constant standard of goods while complying with regulatory standards is one of the through factors in the market dynamics. The firms that are investing in long-term manufacturing process and quality measures become market leaders.
The demographic shift towards an aging population is a market driver for bioresorbable scaffolds. With an increase in age-related cardiovascular issues, there is a growing need for medical interventions, and bioresorbable scaffolds offer a promising solution for specific cases, contributing to the overall market growth.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 19.9% |
Bioresorbable Scaffolds Market Highlights:
Bioresorbable Scaffolds Market Overview
Bioresorbable scaffolds Market Size was valued at USD 1.62 Billion in 2023. The Bioresorbable scaffolds industry is projected to grow from USD 1.71 Billion in 2024 to USD 3.02 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.45% during the forecast period (2024 - 2032). Bioresorbable scaffolds are medical devices used during numerous surgeries, as required when one suffers from coronary artery disease; bioresorbable scaffolds are recently introduced medical devices. Major driving factors for the growth of this market are increasing prevalence of cardiovascular disease, diabetes, obesity, poor diet and lack of exercise. According to WHO (2014), cardiovascular diseases accounted for a majority of deaths globally.
Moreover, number of obese population across the globe is rising continuously. In 2014, globally 39% of adults aged 18 years and above were overweight, whereas 13% were obese. Furthermore, rapid development in devices used for cardiovascular surgeries, rising demand for bioresorbable scaffolds, adoption of desk-bound lifestyle, and government’s support for research and development of better medical devices has fuelled the bioresorbable scaffolds market growth. However, availability of alternative therapies and high cost of the bioresorbable scaffolds may slower the growth of this market.
Bioresorbable Scaffolds Market Segment Insights
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 categorised into hospitals, clinics and others.
Bioresorbable Scaffolds Market Regional Analysis
The global bioresorbable scaffolds market is dominated by America, owing to the presence of huge population suffering from cardiovascular diseases, presence of number of leading companies and increasing geriatric population. Moreover, increasing obese and diabetic population, lack of exercise, increasing stress and desk-bound lifestyle have provided a push for the growth of the market. Europe has the second largest market, which is followed by Asia Pacific. Asia Pacific accounts for the fastest growing market, due to rapid development in technology and a huge number of patients suffering from different vascular diseases. The Middle East & Africa accounts the least share in global bioresorbable scaffolds market.
Bioresorbable Scaffolds Market Key Players
- Abbott (US)
- Medtronic (UK)
- Boston Scientific Corporation (US)
- Biotronik (Germany)
- Elixir Medical Corporation (US)
- REVA Medical, Inc (US)
- Amaranth Medical, Inc. (US)
- Kyoto Medical Planning Co. Ltd. (Japan)
- Xenogenics Corporation (US)
- B. Braun (Germany)
- Cardinal Health. (US)
- Lombard Medical, Inc (UK)
- Translumina (Germany)
- MicroPort Scientific Corporation (China)
- TERUMO CORPORATION (Japan).
Bioresorbable Scaffolds Market Intended Audience
- Medical devices manufacturing companies
- Research and development (R&D) companies
- Government and independent research laboratories
- Government and independent regulatory authorities
- Academic medical institutes and universities
- Pharmaceutical industries
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