North America 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 North America Bioabsorbable Stents Market would witness market growth of 6.2% CAGR during the forecast period (2021-2027). A stent refers to a small mesh tube (material resembling a net with space in it) utilized for treating the blockades of the arteries in the heart.
The stent is vital in the medical domain of cardiology. These devices are commonly developed from plastic or metallic tubes which are set into the lumen of an anatomic vessel in order to make it open for smooth blood flow. Arteries of the heart comprise blood vessels that transfer blood from the heart to other parts of the body.
The North American region is witnessing a high number of diseases that require inserting stents. By the guidelines in the US, an artery must be approximately 70% blocked before a stent is inserted. This is a regular heart procedure – approximately 434,000 procedures were performed in 2014 in the U.S., according to the studies. With an aim to open a narrowed artery, a physician may do a procedure known as percutaneous coronary intervention (PCI) or angioplasty.
Along with this, the majority of the angioplasty procedures are performed with the help of stents. In some patients, stents decrease the re-narrowing that happens after balloon angioplasty or other methods that utilize catheters. However, the price of stents in the US is high in comparison to the other region, which could hamper the growth & demand of the device in the market.
With the massive surge in the geriatric population, the number of these patients going through percutaneous coronary intervention (PCI) has increased highly. Aging people because of the presence of comorbidities and frailty, are at larger risk of mortality and morbidity following PCI. Though, the aging population clearly seems to obtain major advantages regarding the quality of life and might get higher benefits from revascularization as compared to younger patients.
The US market dominated the North America Polymeric Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $67.2 Million by 2027. The Canada market is experiencing a CAGR of 8.2% during (2021-2027). Additionally, The Mexico market would witness a CAGR of 7.3% 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 U.S., Mexico, Canada, and Rest of North America.
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
- Rest of North America
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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