February 27, 2020
Bio-engineered Stent Market

Bioengineered Stent Market | Increasing geriatric population, FDA approval holds North America in dominant position

The bio-engineered stent market was valued at US$ 2,056.8 Mn in 2018, expected to grow at a CAGR of 7.1% during the forecast period from 2019 to 2027. 

Market Insights 

The global bio-engineered stent market is growing effectively from 2019 to 2027, accredited to the increase in hospital admissions for heart disorders, along with enhanced bio-engineered technology expansion in the stent industry on a global scale. Growing FDA approvals for new products with enhanced biological solutions, acquisitions and adoption of advanced stents in emerging countries will drive market growth in the near future. For example. In September 2018, Biotronik received approval from the U.S. FDA for an acute coronary artery management coronary stent system. In addition, in June 2016, Abbott Laboratories received approval from the FDA for Absorb GT1 (bioresorbable vascular scaffolding system), a stent that is slowly absorbed by the human body.

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Top companies are focusing on new product improvements and FDA clearance on a global scale. The increasing number of partnerships and agreements with research organizations or institutes internationally will drive market growth in the United States and Europe. Europe’s market for steady growth is driven by proactive government policies adopted by healthcare agencies that help to thrive on the coronary heart disease market in the region. The growing number of clinical trials to be launched in the future by global players is expected to drive market growth in the near future. The U.S. position is prominent due to factors such as rapid adoption of advanced medical technology with integrated biological solutions, intensive R&D for bio-absorbable products and a significant pool of CVD patients.

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Key Market Movements: 

  • Globally, the bio-engineered stent is growing at a CAGR of 7.1% for the period from 2019 to 2027
  • Rapid development of healthcare infrastructure in emerging Asian economies, and proliferating medical tourism industry is also urging the major players to focus their attention in the Asia Pacific and Europe market
  • The prominent growth factors include growing surgical procedures globally, FDA approval of new products, increasing geriatric population, and growing awareness related to top applications in the bio-engineered stent industry
  • Usage of Dual Therapy Stent (DTS) will grow efficiently
  • Top disease indications boosting the global market include coronary artery disease, peripheral arterial disease, carotid artery disease, abdominal aortic aneurysm, thoracic aortic aneurysm, and renal artery stenosis
  • Major players in this vertical are ORBUSNEICH MEDICAL, Medtronic, plc., Abbott Laboratories, Vascular Concepts, C. R. Bard, Lombard Medical Technologies, Biotronik SE & Co. KG, Terumo Corporation, Endologix, Inc., Translumina GmbH and others.

Segmentation
Material Type (2017–2027; US$ Mn)
• Medical-grade Stainless Steel
• Cobalt-Chromium Alloy
• Others (Tantalum, Gold, Nitinol, Polymers)

Disease Indication (2017–2027; US$ Mn)
• Coronary Heart Disease
• Ischemic Heart Disease
• Peripheral Artery Disease
• Other Cardiovascular Diseases

End-User Segment (2017–2027; US$ Mn)
• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers

Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)

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