Asia Pacific Bioabsorbable Stents Market By Biomaterial (Polymeric and Metallic), By Application (Coronary Artery Disease and Peripheral Artery Disease), By End User (Hospital and Cardiac Center), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Bioabsorbable Stents Market would witness market growth of 8.2% CAGR during the forecast period (2021-2027). Some of the driving factors of the bioabsorbable stents market are increasing aging population who are more prone to coronary and peripheral artery diseases, an increasing number of PCI procedures, rising focus of companies on clinical trials of bioresorbable stents, growing adoption of these stents by physicians and patients, and growing preferences of the patients for minimally invasive therapies. Along with these factors, the market of bioabsorbable stents is also fueled by the surge in occurrence of heart diseases along with surge in the geriatric population, increasing demand for the minimally invasive procedure, and increasing research & development activities in this domain.
Many new products in the Asia-Pacific market can assists cardiologists to be more accurate when inserting the stent which is essential components for safety and efficacy. The design, range of sizes, and higher flexibility mean physicians don’t have to utilize as much force when they insert an advanced stent as compared to other stents. Advancement in the domain of developing stents is bringing a high level of safety and new features that makes it possible for cardiologists to effectively perform complicated procedures that are now responsible for a major percentage of the cases.
According to the World Health Organization (WHO), it has been observed that the leading cause of death around the globe is cardiovascular disease. In addition to this, the WHO has evaluated that in 2016, around 17.9 million individuals died because of cardiovascular diseases (CVDs) which accounts for 31% of the total deaths worldwide, and 85% of these deaths were because of heart attacks and stroke. According to the reports of the Australian Heart Foundation, cardiovascular disease (CVD) is a leading cause of death across Australia, with a major portion of the death is due to CVD in Australia in 2017. Cardiovascular diseases are responsible for killing one Australian in every 12 minutes. Therefore, the growth of the global bioabsorbable stents would be fuelled by the massive surge in the rate of CVD around the world.
The China market dominated the Asia Pacific Cardiac Center Market by Country in 2020, thereby, achieving a market value of $3.8 Million by 2027. The Japan market is showcasing a CAGR of 11.1% during (2021-2027). Additionally, The India market is poised to grow at a CAGR of 11.3% during (2021-2027).
Based on Biomaterial, the market is segmented into Polymeric and Metallic. Based on Application, the market is segmented into Coronary Artery Disease and Peripheral Artery Disease. Based on End User, the market is segmented into Hospital and Cardiac Center. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Bioabsorbable Stents Market is Projected to reach USD 429.2 Million by 2027, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, MicroPort Scientific Corporation, Terumo Corporation, Arterius Ltd., Elixir Medical Corporation, Amaranth Medical, Inc., and REVA Medical, LLC.
Scope of the Study
Market Segments Covered in the Report:
- Coronary Artery Disease
- Peripheral Artery Disease
By End User
- Cardiac Center
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Abbott Laboratories
- B. Braun Melsungen AG
- BIOTRONIK SE & Co. KG
- Boston Scientific Corporation
- MicroPort Scientific Corporation
- Terumo Corporation
- Arterius Ltd.
- Elixir Medical Corporation
- Amaranth Medical, Inc.
- REVA Medical, LLC
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