Boston, MA, February 17, 2017 --(PR.com
)-- According to a new market research report published by Inkwood Research, the bioabsorbable stent market is anticipated to develop from $435 million in 2016 to $2,951 million by 2023, at a CAGR of 31.9% between 2017 and 2023.
Browse 68 market data Tables and 27 Figures spread through 132 Pages and in-depth TOC on “Global Bioabsorbable stent Market Forecast 2016-2023."
The rise in geriatric population, the risk of coronary artery & peripheral artery diseases in the elderly population with increased number of heart failure and diabetes cases and rising technological advancements have been elevating the growth of bioabsorbable stents market. The new technological advancement has elevated a tremendous growth and has brought out a positive aspect of the fast growing bioabsorbable stent market.
Fast absorption rate stents witness a growth and demand in the bioabsorbable stent market
Fast absorption stents are used in urgency as these tend to dissolve quickly healing coronary arterial diseases. Seeing a growth in the curing patient is increasing, the demand for Fast absorption rate stents is also increasing.
Rise in Coronary Artery disease during the forecast period
Coronary Artery disease is anticipated to grow at the highest CAGR during the forecast period. Coronary artery disease is an ailment where the arteries within the heart are blocked leading to a heart attack or chest ache. These bioabsorbable stents elevate the blood flow through the confined artery and increase the flow of blood to the heart.
Europe is the largest shareholder of bioabsorbable stents in the market
According to Eurostat, 19% of the total population in Europe are aged 65 years or over in 2015 and will increase by 23% in a period of ten years. Increased healthcare expenditure, growing of aged population and increase in cardiac patients are contributing factors to the market growth in Europe.
Major players of the bioabsorbable stent market covered in the report include Abbott laboratories, Johnson & Johnson, Boston Scientific Corp, Medtronic Inc., Kyoto Medical Planning Co. Ltd, and Arterius Limited. Abbott laboratories operate in four major business segments: vascular products, nutritional products, diagnostic products and established pharmaceutical products.
Abbott laboratories obtained an incompatible license to develop a diagnostic test in the US. Kyoto Medical Planning Co., Ltd. manufactured the Igaki-Tamai Stent, a biodegradable coronary stent that provides biocompatible medical devices which help in eliminating any foreign materials in the body.
The global Bioabsorbable market report provides competitive landscapes, market drivers, trends, restraints, opportunities and challenges in this market. The report estimates the current size and the future growth potential of the market across diverse applications, technologies, verticals, types and regions. The outlook of the report additionally comprises of mergers and acquisitions, strategies, product portfolios, agreements, partnerships and collaborations amongst the key players.
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Market intelligence studies with relevant fact-based research are customized across industry verticals including technology, automotive, chemicals, materials, healthcare and energy with objective comprehension acknowledging the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia and Africa.