Global Bio-engineered Stent Market: Snapshot
Different advantages to heart patients may create growth opportunities in the bio-engineered stent market. The growing case of different coronary heart diseases may impact the growth in the bio-engineered stent market. Furthermore, the increasing rate of various cardiovascular diseases among the global population may propel expansion opportunities in the bio-engineered stent market.
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Bio-engineered stents are devices that consist of narrow metal or short plastic tubes. These devices are widely used for the treatment of blocked arteries. So these bio-engineered stents are estimated to gain popularity among patients witnessing cardiovascular diseases or disorders such as ischemic heart disease.
The bio-engineered stent market is propelling on the back of its treatment capabilities to cure different diseases. These diseases include thoracic aortic aneurysm, renal artery stenosis, and abdominal aortic aneurysm. Furthermore, these bio-engineered stents are also used to treat carotid artery disease, coronary artery disease, and peripheral arterial disease.
On the basis of materials, the bio-engineered stent market is divided into polymers, nitinol, gold, tantalum, stainless steel, and cobalt alloy metal. Among these divisions, the polymer segment is anticipated to contribute a major portion in the bio-engineered stent market. This market contribution of the polymer segment is on the back of success rates different cardiovascular diseases and immense flexibility. The bio-erodible polyurethane, silicone, and polymer may be used to manufacture bio-engineered stents.
The solutions from the bio-engineered stent market are helpful in different cardiovascular diseases. These stents are used to expand the blood vessel to prevent blockage of arteries. The bio-engineered stent act as the treatment for cardiovascular diseases to bring positive health results. These factors are estimated to bring growth opportunities in the bio-engineered stent market.
The increasing rate of renal disorders and diseases are also fueling opportunities in the bio-engineered stent market. However, stringent government regulations for product type failure and product approval are creating obstacles in the bio-engineered stent market.
Global Bio-engineered Stent Market: Overview
The global bio-engineered stent market has grown steadily over the years, due to the advantages it provides to the heart patients. Bio-engineered stents are a type of device which consist of short plastic tube or narrow metal. These devices are extensively used in order to treat blocked arteries. Therefore, bio-engineered stent is gaining its maximum popularity among the patients who are suffering from several types of cardiovascular disorders or diseases such as ischemic heart disease and coronary heart disease.
A wide range of bio-engineered stent are available in market to treat numerous diseases such as peripheral arterial disease, coronary artery disease, carotid artery disease, abdominal aortic aneurysm, renal artery stenosis, and thoracic aortic aneurysm. Such USPs are majorly boosting the global bio-engineered stent market.
From the perspective of materials, the global bio-engineered stent market is segmented into cobalt alloy metal, stainless steel, tantalum, gold, nitinol, and polymers. Among them, the polymer segment showcases the lion’s share in the global bio-engineered stent market. This is due to its immense flexibility and success rates in the cases of different types of cardiovascular diseases. Moreover, bio-engineered stent can be manufactured by bio-erodible polymer, silicone, and polyurethane.
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Global Bio-engineered Stent Market: Notable Developments
Some of the key developments highly contouring the shape of the global bio-engineered stent market in a positive way include:
- In September 2018, one of the renowned company in the global bio-engineered stent market named as Biotronik SE & Co. KG had received the U.S Food and Drug Administration Approval (FDA) for coronary stent system in order to treat the acute coronary artery.
- In October 2015, the company Medtronic Plc. had tested the drug-filled stent (DFS), where the drug was contained inside a reservoir, which was fixed inside of a bio-engineered stent. This drug was slowly eluted through a small laser-drilled holes in the outer core which was made of metal.
Some of the most prominent competitors operating in the competitive landscape of global bio-engineered stent market include –
- Terumo Corporation
- Biotronik SE &Co.
- Stentys Sao
- Lombard Medical technologies
Global Bio-engineered Stent Market: Key Growth Drivers
Burgeoning Population Suffering from Renal and Cardiovascular Diseases to Boost Market
Bio-engineered stent plays a crucial role in expanding the blood vessel for preventing a blockage of arteries, especially in cardiovascular diseases. Thus, rising prevalence of different types of coronary heart diseases and growing population suffering from various cardiovascular diseases are propelling expansion in the global bio-engineered stent market. According to American Heart Association, a major population in the U.S is suffering from a few types of heart disorders and diseases, whereas a large number of people are suffering from the after-effects of stroke. According to World Health Organization (WHO), heart diseases have become the highest cause of mortality globally. However, bio-engineered stent acts as an alternative treatment to several cardiovascular diseases which brings the most positive results. Such factors are providing the major impetus to the growth of the global bio-engineered stent market.
Furthermore, apart from a wide range of cardiac problems, rising cases of several other diseases is also contributing demand in the global bio-engineered stent market. Growing prevalence of renal diseases and disorders is also fueling growth in the global bio-engineered stent market. However, governments’ stringent regulations for product type approvals and product type failure are the couple of challenges in the growth of the global bio-engineered stent market. Such challenges are responsible for obstructing the growth of the market. Nonetheless, persistent demand for bio-engineered stent from the healthcare industry in developing and developed regions is believed to overcome these challenges in the near future.
Global Bio-engineered Stent Market: Regional Outlook
With respect to geography, North America is leading the global bio-engineered stent market as the region has witnessed high expenditures in healthcare industry. Along with this, rising cases of cardiac ailments and growing prevalence of obesity are also responsible for fueling demand in the bio-engineered stent market in this region.
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