Absorbable Heart Stent Market Research Report - Forecast till 2027

Absorbable Heart Stent Market Research Report: Information by Material (Metal and Polymer), Application (Coronary Artery Disease and Periphery Artery Disease), End-Use (Hospitals and Clinics, Cardiovascular Centers, Research Institutes and Organizations and Others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2027

ID: MRFR/MED/0669-HCR | February 2021 | Region: Global | 80 pages

Absorbable Heart Stent Market Scenario

Absorbable Heart Stent Market is expected to register 11.8% CAGR during the forecast period of 2019 to 2025 and will achieve USD 428.4 Million in 2025. The market was valued at USD 264.6 million in 2018.

Stents are small expandable tubes that are used to inflate the arteries of the patient to prevent blockage. These are called heart stents or cardiac stents. Stents are inserted into the artery of a patient suffering from coronary disease due to the build-up of plaque. It is used for widening the narrowed arteries and aids in reducing chest pain and limiting chances of heart attack. These stents are widely used for the treatment of coronary and peripheral artery diseases.

Segmentation

The absorbable heart stent market has been segmented based on material, application, and end-use. The absorbable heart stent market, based on material, has been divided into metal and polymer. The polymer segment is expected to be the largest segment owing to the increasing applications and use of polymer-based stents.

The absorbable heart stent market, based on application, has been bifurcated into coronary artery disease and periphery artery disease. The coronary artery disease segment is the largest in terms of value due to prevalence of coronary diseases in geriatric individuals and is predicted to achieve more revenue in the upcoming absorbable heart stent market.

The absorbable heart stent market, based on end use, has been segmented into hospitals & clinics, cardiovascular centers, research institutes and organizations, and others. Hospitals & clinics are the largest end users of absorbable heart stents. The segment is anticipated to hold a major share of the market during the forecast period. This is due to the increasing number heart surgeries and the growing risk of coronary artery disease (CAD) and peripheral artery disease (PAD).

The absorbable heart stent market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The absorbable heart stent in the Americas has further been divided into North America and Latin America. In North America, the market is bifurcated into the US and Canada. The European absorbable heart stent has been sub-divided into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, Italy, Spain, the UK, and the rest of Western Europe. The absorbable heart stent in Asia-Pacific has been segmented into Japan, China, India, South Korea, and Australia. The absorbable heart stent in the Middle East & Africa has been divided into the Middle East and Africa.

Key Players

The key players in absorbable heart stent market are Abbott Laboratories, Biotronik, REVA Medical, Inc., Elixir Medical Corporation, B. Braun Melsungen AG, KYOTO MEDICAL PLANNING Co., Ltd., Boston Scientific Corporation, Medtronic, Terumo Medical Corporation, and Meril Life Sciences Pvt. Ltd.

Regional Market Summary

Global Absorbable Heart Stent Share (%), by Region, 2018

Source: World Health Organization (WHO), Institute of Medicine (IOM)

The market in the Americas is projected to have a steady growth rate during the forecast period owing to the increasing number of patients with chronic diseases and government initiatives for healthcare reforms. Moreover, there is an increase in the use of these stents by healthcare physicians. A patient’s preference for minimally invasive therapies is driving the growth of the absorbable heart stent market in this region.

The market in Europe showed substantial growth during the forecast period. The market growth in this region can be attributed due to the huge patient pool and prevalence of CAD and PAD. According to latest data from Centers for Disease Control and Prevention 11.3 million cardiovascular surgeries were carried out in this region in 2018.

The market in Asia-Pacific is expected to dominate the global absorbable heart stent due to the increase in development of healthcare infrastructures. Moreover, there is an increase in number of patients suffering from chronic disease, including cardiovascular disease. For instance, according to World Heart Federation, cardiovascular disease is estimated to account for 87% of total adult deaths in China in 2016.

The market in the Middle East & Africa is expected to grow at a substantial rate due to the increase in the use of surgical treatment for cardiovascular diseases in the region.

Absorbable Heart Stent Market, by Material

Metal

Polymer

Absorbable Heart Stent Market by Application

Coronary Artery Disease

Peripheral Artery Disease

Absorbable Heart Stent Market, by End-Use

Hospital & Clinics

Research and Academic Institutes

Others

Absorbable Heart Stent Market, by Region

Americas
- North America
- US
- Canada

Europe
- Western Europe
  - Germany
  - France
  - Italy
  - Spain
  - UK
  - Rest of Western Europe
- Eastern Europe

Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific

Middle East & Africa
- Middle East
- Africa

Intended Audience

Medical device companies

Research and development (R&D) companies

Government research institutes

Academic institutes and universities

Venture capitalists

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 428.4 Million
CAGR	11.8% CAGR
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Material, Application and End-Use
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Abbott Laboratories, Biotronik, REVA Medical, Inc., Elixir Medical Corporation, B. Braun Melsungen AG, KYOTO MEDICAL PLANNING Co., Ltd., Boston Scientific Corporation, Medtronic, Terumo Medical Corporation, and Meril Life Sciences Pvt. Ltd
Key Market Opportunities	Demand for absorbable heart stents is increasing due to advancement in technology of developing heart stents and increase in number of cardiac surgeries.
Key Market Drivers	Increase in number of patients suffering from chronic disease, including cardiovascular disease. Increasing unhealthy habits, lack of physical exercise and increasing prevalence of cardiac diseases contributed growth to the market.

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TABLE OF CONTENTS

REPORT PROLOGUE

MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.2.1. Research Objective

2.2.2. Assumptions

2.2.3. Limitations

RESEARCH METHODOLOGY

3.1. Overview

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

MARKET DYNAMICS

4.1. Overview

4.2. Drivers

4.3. Restraints

4.4. Opportunities

MARKET FACTOR ANALYSIS

5.1. Porter’s Five Forces Analysis

5.1.1. Bargaining Power of Suppliers

5.1.2. Bargaining Power of Buyers

5.1.3. Threat of New Entrants

5.1.4. Threat of Substitutes

5.1.5. Intensity of Rivalry

5.2. Value Chain Analysis

GLOBAL ABSORBABLE HEART STENT MARKET, BY MATERIAL

6.1. Overview

6.2. Metal

Market Estimates & Forecast, by Region, 2019–2025