The global bio absorbable stents market is expected to grow at a significant CAGR of 46.0% during the forecast period of 2021 to 2030. The rising cardiovascular disease is being the prime cause for the death across the globe; around 17.5 million people die every year due to cardiovascular diseases. The changing lifestyle, eating habits and growing blood pressure problems across the globe is increasing the prevalence of the cardiovascular diseases. The deaths caused by cardiovascular diseases accounted to more than 32% in 2015, which is expected to rise to 45% by the end of 2030. Diabetes population has seen an exponential rise. Changes in lifestyles, eating habits, and reduced physical workout have led to rise in obesity, which is the major cause of type 2 diabetes in adults.
Browse the full report Bioabsorbable Stents Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030 at https://www.atlanticmarketresearch.com/bioabsorbable-stents-market
The market for the purpose of this study is segmented on the basis of absorption rate, drugs, application, end user and materials used. Based on absorption rate, the market is segmented into slow absorption rate and high absorption rate. Based on drugs the market is segmented into paclitaxel and limus based drugs. On the basis of application, the market is segmented in to coronary artery disease and peripheral artery disease. Further on the basis of end users the market is segmented into hospitals and cardiac centers. On the basis of materials used the market is segmented in to polymeric stents and metallic stents. Based on geography the market is segmented into North America, Europe, Asia Pacific and rest of the world.
Metal Stents segment is expected to grow with the highest CAGR of 47.1% during the forecast period 2021-2030. The alloying of magnesium is also required to increase its ductility & strength and to reduce its degradation rate is one of the major factor which is pushing the growth in the global bioabsorbable stents market.
The slow absorption rate segment holds the largest market share in the global market. The growth in the slow absorption rate stents is mainly driven by the increasing demand for the slow absorption rate stents across various application due to its various features such as slow drug releasing and long term treatment.
Europe holds the largest market share in the global bioabsorbable stents market which accounted to around 34.6% in 2020. The Europe market is growing due to increasing cardiac patients and the increasing healthcare spending across the European region. The Europe bioabsorbable stent market is projected to reach $1242 million by 2022 up from $97 million in 2015. North America holds the second largest share of 25% in the global market. According to Centre for Diseases Control and Prevention, North American population aged 65 years or above will increase from 12.6% to 20.3% between period 2000 and 2030.
APAC is expected to be the fastest growing region in the global bioabsorbable stents market. The growth in the APAC bioabsorbable stent market is majorly driven by the increasing cardiac patients across the region. The Asia Pacific region is expected to grow with the highest CAGR of 48.1% during the forecast period. India is one of the fastest growing countries across the globe which is projected to grow with a growing CAGR of the 49.56% during the forecast period.
KEY MARKET MOVEMENTS
- The global bio absorbable stents market is expected to grow at a significant CAGR of 46.0% during the forecast period of 2021 to 2030.
- Metal Stents segment is expected to grow with the highest CAGR of 47.1% during the forecast period 2021-2030.
- The slow absorption rate segment holds the largest market share in the global market.
- Europe holds the largest market share in the global bioabsorbable stents market which accounted to around 34.6% in 2020.
- North America holds the second largest share of 25% in the global market.
- The Asia Pacific region is expected to grow with the highest CAGR of 48.1% during the forecast period.
- India is one of the fastest growing countries across the globe which is projected to grow with the growing CAGR of the 49.56% during the forecast period.
