MarketResearchFuture.com adds “Absorbable Heart Stent Market -2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.
Absorbable Heart Stent Market – Overview:
Increase in cardiac related cases have expanded the market for products related to heart treatment. Market Research Future, a firm which specializes in market reports related to the healthcare sector among others, published in its recent report on Absorbable Heart Stent Market Research Report- Global Forecast Till 2023,
Conventional stents made of metal used for clearing blockages were left in the body or had to be removed later with a follow up surgery which would cause further trauma to the organ and also incur increased costs. Absorbable heart stents can effectively address these concerns which has contributed to their popularity. Absorbable heart stents also considerably reduce infections, vessel damages and bleeding as compared to non-absorbable stents. These characteristics have considerably contributed to the growth of this segment. Polymeric absorbable stents are typically favored because of their ability to sustain a strong scaffold. Increasing stress levels both psychological and physiological have increased the level of heart related diseases, which have added to the growth of this segment. The major hurdle in scope of development of this sector is the finding that states absorbable stents can increase the incidence of heart attacks.
Latest Industry Updates:
May 2017 Researchers at Eindhoven University of Technology in the Netherlands have released a proof-of-concept article on 3D printed, self-expanding, biodegradable stents. The stents are designed to be minimally invasive, supporting narrow or weak arteries of the heart particularly in cases involving children. To ensure the stents would biodegrade within the body, researchers conducted an accelerated hydrolysis test, keeping samples in a temperature-controlled water bath of 90°C. After two weeks of in vitro hydrolysis, the stents demonstrated enhanced porosity, which is encouraging to cell adoption.
Feb 2017 the health ministry has approved the country’s first locally made bioresorbable cardiac scaffold, or naturally dissolving stent for clearing blockages in arteries that carry blood to the heart. A health ministry subject expert committee (SEC) approved Gujarat-based Meril Life Science’s bioresorbable vascular scaffold (BVS) at a meeting recently. The official government approval to market the stent is expected within a few weeks.
April 2017 REVA Medical, a San Diego, California firm, landed the European CE Mark for its first product, the drug-eluting bioresorbable Fantom coronary scaffold. The device contains sirolimus, aka rapamycin, an immunosuppressant to help prevent restenosis, which is delivered to the implantation area slowly over time. The device itself eventually breaks up and is resorbed by the body.
July 2016 The U.S. Food and Drug Administration approved the first fully absorbable stent to treat coronary artery disease. The Absorb GT1 Bioresorbable Vascular Scaffold System (BVS), which releases the drug everolimus to limit the growth of scar tissue, is gradually absorbed by the body in approximately three years. The Absorb GT1 BVS is manufactured from a biodegradable polymer called poly (L-lactide), which is similar to materials used in other types of absorbable medical devices, such as sutures. The device’s absorption by the body gradually eliminates the presence of foreign material in the artery once the stent is no longer needed.
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Absorbable Heart Stent Market – Competitive Analysis:
With the entry of new industry players in the absorbable heart stent segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The key players profiled in the report are Abbott Laboratories (U.S.), Biotronik (Germany), Arterial Remodeling Technologies SA (France), Amaranth Medical Inc. (U.S.). Some of the other prominent players are Kyoto Medical Planning Co. Ltd. (Japan), Elixir Medical Corporation (U.S.), and Reva Medical Inc. (U.S.)
Absorbable Heart Stent Market – Segments:
The global absorbable heart stent market has been segmented on the basis of material, region and end user.
On The Basis Of Material: Metal and Polymer.
On The Basis Of End Users: Hospitals, Cardiac Canters, Research Institutes and Other Users.
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Absorbable Heart Stent Market – Regional Analysis:
Globally, absorbable heart stent market is spread across four regions- Americas, Europe, Asia Pacific and Middle East and Africa. The Americas captures a significant market share owing to high expenditure on the health care especially in the U.S. and Canada. Increase in chronic heart disease and increasing geriatric population suffering from risk factors for heart disease like diabetes and obesity drive this market in America. Additionally, the greater number of cardiac surgeries procedures due to greater healthcare penetration in the U.S. and Canada drives the absorbable heart stent market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth.
Europe is the second largest market in the world due to growing medical devices industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large medical devices industry. Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to fast growing healthcare sector and large unmet needs over the forecast period. Middle East & Africa currently contribute least in the overall growth of this market. However, considering the growth in the healthcare sector in Middle Eastern countries like UAE, and Saudi Arabia among others, it is very likely that this region will show a decent growth in the absorbable stent market in the near future.
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