Biodegradable Stents Market by Type, Material and End User - Global Industry Analysis and Forecast to 2025

Report Code : HC0687

Coronary artery disease also known as coronary heart disease, is a condition in which small blood vessels that supply blood and oxygen to the heart are blocked. Coronary artery disease is caused due to formation of plaque in the arteries. This plaque is a combination of cholesterol and other substances in the artery. This plaque results in the narrowing of arteries which will further lead to blockage of blood flow. This blockage of blood is also known as atherosclerosis. Symptoms of coronary artery disease are angina, chest pain, fatigue and shortness of breath. The risk factors associated with coronary artery disease are heredity, increasing age, hypertension, obesity, stress, physical inactivity, diabetes, smoking and cholesterol level in blood. Complications associated with coronary artery disease are heart failure, angina, heart attack and arrhythmia.

A biodegradable stent is a small expandable mesh tube that is placed in arteries to avert them from collapsing after a blockage has been removed and then are biodegraded. Biodegradable stents are used in coronary artery disease. They are also known as bioabsorbable stents and are alternatives to permanent stents. They deliver high amount of drug to the target site, improved lesion imaging, vasomotion restoration, allow restoration of vasoreactivity, and decreased risk of stent restenosis and thrombosis. Lastly, biodegradable stents are compatible with MSCT and MRI imaging. Biodegradable stents are made from polymers and metals and these polymers are selected on the basis of lack of toxicity, strength, biocompatibility with vessel wall, and rate of corrosion and degradation. There are four types of polymers used in manufacturing of biodegradable stents, namely, poly (D, L-lactide/glycolide) copolymer (PDLA), Poly L-lactic acid (PLLA), Polycaprolactone (PCL) and Polyglycolic acid (PGA). Polymeric stents act as local drug delivery systems and are used for controlled release of drugs. They prevent prevention intimal proliferation and thrombus formation. There are two types of metals used in manufacturing of biodegradable stents, namely, magnesium and iron. Biodegradable magnesium stents have high radial strength as they are biocompatible with the body and due to their metallic nature. Iron stents are favorable stents as iron is a crucial component of variety of enzymes. These metal biodegradable stents perform similarly to steel metal stents.

The major factor driving the biodegradable stents market is increasing incidence of cardiovascular diseases. For instance, according to American Heart Association, in 2016, about 92.1 million adults in U.S. were suffering from some form of cardiovascular disease or the after-effects of a stroke. It also states that in U.S., once in every 40 seconds someone has a stroke. Moreover, the rise in the geriatric population is another important factor that will drive this market. According to WHO, in 2015, 900 million people were 60 years of age or older and this number is expected to reach up to 2 billion by 2050. Further, companies focusing on clinical trials of biodegradable stents will fuel the growth of this market. For instance, in February 2015, BIOTRONIK, Inc. completed trial enrollment for Dreams Bioresorbable stent after many delays. However, high risks of complications associated with biodegradable stents and high pricing will hamper the growth of biodegradable stents market.

The key strategy followed by the major players in the market is product launch to become a pioneer and gain more market share. For instance in July 2016, FDA approved Absorb, a bioresorbable stent from Abbott Laboratories. It is the only fully dissolving heart stent and will offer treatment options to candidates who are going for angioplasty but do not prefer permanent coronary stent. The launch of Absorb will help Abbott Laboratories to become a pioneer in the market and gain more share.

The major players in the biodegradable stents market are BIOTRONIK, Inc., Abbott Laboratories, Terumo Corporation, Elixir Medical Corporation, Kyoto Medical Planning and Boston Scientific Corporation

Biodegradable Stents Market Segmentation:

By Type:

  • Peripheral Artery Stents
  • Coronary Artery Stents

By Material:

  • Metal Based
  • Polymer Based

By End User:

  • Ambulatory Surgery Centers
  • Cardiac Catheterization Laboratories
  • Hospitals

By Region:

  • North America
  • U.S
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Saudi Arabia
  • Turkey
  • United Arab Emirates
  • Others

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers

 

Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

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