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The market trends of bioresorbable scaffolds have witnessed significant developments, driven by advancements in medical technology and a growing emphasis on minimally invasive procedures. Bioresorbable scaffolds play a pivotal role in cardiovascular interventions, offering temporary support to diseased vessels while gradually dissolving over time.
Cardiovascular diseases are becoming more common everywhere in the world which has promoted the need for futuristic medical interventions. Bioresorbable scaffolds are a novel solution to traditional metallic stents which are capable of providing structural support for a temporary period minimizing the events of long-term complications.
Helped by continuous technological advancements, the bioresorbable scaffolds market has forged ahead. Such innovations, among the others, led to the innovation of scaffolds that have improved mechanical characteristics and faster resorption rates that, in turn, promote patient outcomes and reduce the dependency of medication.
The market scenery has been significantly influenced by continuous clinical trial and research studies. There is an effort to ensure joint cooperation between medical institutions and industry players that will drive into extra validation on the safety and efficacy of bio resorbable scaffolds to recover the confidence of health care staff and rise the uptake.
A number of regulatory approvals of health authorization agencies for bioresorbable scaffolds have brought these devices to true commercial availability. Because of stringent evaluation processes these devices are safe and effective and both healthcare providers and patients have confidence to include them intherapeutic strategies.
Those players that play an important role in the bioresorbable scaffolds market’ competing to weaken grows over this period. Companies are concentrating on strategic alliances, mergers and acquisitions to have strengthen core competencies and portfolio of the products in order to obtain a competitive advantage. Nobody would expect this trend to support innovation and drive market growth in the near future.
While bioresorbable scaffolds offer unique advantages, cost challenges persist. Driven by such an objective, the measures are being taken to address these challenges and improve market access. The new initiatives like refund policies and cost cutting manufacturing methods are being considered for making these state of the art devices available more widely.
The future of the bioresorbable scaffolds market looks promising, driven by a combination of technological advancements, increased clinical evidence, and a growing preference for minimally invasive interventions. As research continues and more data accumulates, bioresorbable scaffolds are likely to become an integral part of cardiovascular care, offering patients a safer and more effective treatment option.
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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