Launch of novel bioresorbable vascular scaffold by market players is expected to augment the market growth
Key players in the market are focused on launching novel bioresorbable vascular scaffold in order to reduce the risk of coronary artery inflammation, which leads to thrombosis and stent restenosis and address critical unmet needs of patients. For instance, in May 2017, Medtronic launched 4.5 mm and 5 mm sizes Resolute Onyx, drug-eluting stent, in U.S. following FDA approval, which was the first drug-eluting stent.
Similarly, in September 2012, Abbott launched Absorb, a bioresorbable vascular scaffold disappearing stent, across Europe and parts of Asia Pacific and Latin America. In May 2017 Medtronic, Plc. received U.S. Food and Drug Administration (FDA) approval for its Resolute Onyx, a 2.0mm size zotarolimus-eluting stent with unique continuous sinusoid technology.
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Global Bioresorbable Vascular Scaffold Market, by Product Type (Synthetic and Biological), by Material (Metal based BVS, Polymer based BVS), by Application (Coronary Artery Stents, Peripheral Artery Stents, and Others), by End User (Hospitals, Ambulatory Surgical Centers, Cardiac Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 147.0 million in 2017, and is projected to exhibit a CAGR of 12.5% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Browse 22 Market Data Tables and 26 Figures spread through 158 Pages and in-depth TOC on ‘Bioresorbable Vascular Scaffold Market’- Global Forecast to 2026, Product Type (Synthetic, Biological), by Material (Metal based BVS, Polymer Based BVS), by application (Coronary Artery Stents, Peripheral Artery Stents, Others), by End User (Hospitals, Ambulatory Surgical Centers, and Cardiac Centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance its product portfolio. For instance, in February 2016, Maquet Medical Systems, a Getinge Group Company, announced plans to enter into partnership with BIOTRONIK, a Germany-based manufacturer of cardiovascular and endovascular medical devices, to distribute BIOTRONIK’s peripheral vascular devices in the U.S.
Key Takeaways of the Bioresorbable Vascular Scaffold Market:
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The global bioresorbable vascular scaffold market is expected to exhibit a CAGR of 12.5% over the forecast period, owing to the increasing prevalence of cardiopulmonary conditions, cancer, and renal diseases
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Among product type, the synthetic segment held a dominant position in the bioresorbable vascular scaffold market in 2018, owing to higher adoption of synthetic bioresorbable vascular scaffold over other treatment options such as antibiotic treatment and nutrition
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Among material type, polymer based segment held a dominant position in the bioresorbable vascular scaffold market in 2018, due to its comparative advantages over metallic type.
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Among application type, coronary artery stents held a dominant position in the bioresorbable vascular scaffold market in 2018, owing to high prevalence of cardiovascular diseases across the world
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Key players operating in the global bioresorbable vascular scaffold market include Abbott, Cook Medical, Boston Scientific Corporation, Stentys SA, MAQUET Holding B.V. & Co. KG (Getinge AB), W.L. Gore & Associates, Medtronic, C. R. Bard, Inc., B. Braun Melsungen AG, and Terumo Corporation among others
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