Absorbable Heart Stent Market Size, Share, Competitive Analysis, Research Methodology, Rapid Growth and Fast Forward Research till 2027
Research Reports
Mar 16, 2022
Stents are described as the medical devices which are like small expandable tube. Stents are mostly used to inflate the patients’ arteries with an aim to prevent any kind of blockage. When these stents are used with respect to heart are referred to as called as heart stent/ cardiac stent. Cardiac stent are generally exploited for treatment and therapeutic purposes for the patients who suffer from coronary artery diseases. This can be due to a plaque built up. A heart stent works by widening the narrowed arteries and thus, reduces chest pain and the probability of the heart attacks.
Generally, a regular cardiac stent is built from a metallic mesh, which remains inside the body of patients. This arrangement is generally permanently, but in some instances a removing protocol is also attached. These procedures of cardiac stenting do involves some degree of the infection risks. Some other complication are inclusive of bleeding stent-site bleeding, arrhythmia, and damage to the blood vessels. An effective way to deal with these hurdles is inclusive of development of heart stent which are absorbable. This need led to the development of the absorbable heart stents market. Such heat stents gets dissolved in the body over the period of time during the therapeutic course. These absorbable stents can be manufactured by using either a metal or a polymer. Zinc, magnesium, iron and their alloys are commonly utilised entities for the development of the metallic bio-absorbable stents. Polymeric absorbable stents are characterized by their ability to maintain a strong scaffold.
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Factors such as increasing demand of absorbable stents followed by the rising patient population, and growing number of cardiac procedures are the drivers for the market growth. Moreover, increasing physical & psychological stress and rising healthcare expenditure boosts the market. However, risks of infection and high cost is estimated to restraint the market growth during the forecast period.
The global absorbable heart stent market is expected grow from USD 3.1 billion in 2016 to USD 6.2 billion till 2023, with a CAGR of approximately 9.6% during the projected period, 2017-2023.
Abbott Laboratories (U.S.), NuVasive, Inc. (U.S.), Arterial Remodeling Technologies SA (France), Amaranth Medical Inc. (U.S.), Kyoto Medical Planning Co. Ltd. (Japan), Elixir Medical Corporation (U.S.), and Reva Medical Inc. (U.S.) and others are some of the prominent players at the forefront of competition in the Absorbable Heart Stent Market
Global Absorbable Heart Stent Market- Competitive Analysis
Companies present in the Absorbable Heart Stent Market have been focussing on collaboration, acquisitions, product launches. These strategies are aimed to increase the market by addressing the growing.
NuVasive, Inc. is a major player in the Global Absorbable Heart Stent Market. The company have a repute for developing minimally invasive and minimally disruptive, procedures which are acts as integrated solutions for spine and others.
In July, 2016- NuVasive, Inc., (a leading medical device company having a resources focused on transforming spine surgery), announced that they have successfully completed the acquisition of Biotronic NeuroNetwork (a provider of intraoperative neurophysiological monitoring services).
Global Absorbable Heart Stent Market- Regional Analysis
The Absorbable Heart Stent Market is segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas dominates the Absorbable Heart Stent Market due to high healthcare expenditures, a well-developed healthcare sector, and increasing prevalence of the coronary artery diseases. Moreover, the presence of developed economies like the U.S. and Canada facilitates the market growth during the forecast period. Europe stands second in the Absorbable Heart Stent Market and is estimated to be followed by Asia Pacific. Huge patient population, increasing research and development expenses, and increasing awareness are the major drives the market growth within Europe. Asia Pacific region is estimated to be the fastest growing for the Global Absorbable Heart Stent Market. This can be attributed to the presence of developing economies like India and China, a developing healthcare sector, growing healthcare industries within the region. However, the Middle East & Africa is estimated to hold the least market share of the market owing to the presence poor economies and stringent government policies within the African region.
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