LAMEA 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 Latin America, Middle East and Africa Bioabsorbable Stents Market would witness market growth of 7.8% CAGR during the forecast period (2021-2027).
Another huge benefit of bioabsorbable stents would be the possibility of being performed with non-invasive imaging procedures like MSCT scans. A major portion of the American population suffers a heart attack every year, as per the Centers for Disease Control and Prevention. For those who survive cardiac arrest, the conventional form of treatment is angioplasty, in which a small metal mesh or scaffold is implanted into the blocked artery to broaden the vessel and restart blood flow.
Though, these devices, known as stents, complete their job within six to nine months, they stay with the patient permanently during his or her life. Many times, scar tissue develops within the stent, leading the artery to narrow again and mandating a repeat procedure. Hence, an increased number of heart attacks around the world would create new growth avenues for the players operating in the bioabsorbable stents market during the forecast period.
People are adopting binge eating habits and inactive lifestyles which are causing the increasing number of diseases in the region. Moreover, sedentary lifestyles and increasing stress levels are the leading cause of the increasing rate of heart diseases. Due to this factor, the demand for bioabsorbable stents is increasing in the region with anticipation of a huge growth trajectory in the coming years.
Moreover, many countries in this region are on the path of development, and thus, they are willing to create highly sophisticated healthcare infrastructure. Therefore, these healthcare facilities are exporting implantable devices to a great extent, which would boost the demand & growth of the bioabsorbable stents market in the next few years in the region.
The Coronary Artery Disease market dominated the Saudi Arabia Bioabsorbable Stents Market by Application in 2020, thereby, achieving a market value of $4.3 Million by 2027. The Peripheral Artery Disease market is expected to witness a CAGR of 8.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Saudi Arabia
- South Africa
- Rest of LAMEA
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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