Biodegradable Stents Market

Global Biodegradable Stents Market Size (2023 to 2028)

The global biodegradable stents market is estimated to be worth USD 1.05 billion by 2028 from USD 354.3 million in 2023, growing at a CAGR of 24.48% from 2023 to 2028.

Biodegradable stents are also known as bioresorbable or absorbable stents. These are medical devices and used to treat blood vessels that are constricted or obstructed. In contrast to traditional metal stents, which remain in the body perpetually, biodegradable stents are designed to dissolve and be absorbed by the body over time. These stents are typically manufactured from biocompatible materials, such as polymers, that degrade naturally within the body. The primary function of biodegradable stents is to support the blood vessel temporarily and restore blood flow. They are frequently used to treat coronary artery disease, in which the arteries that supply blood to the heart become narrowed or obstructed. The blood vessel is propped open by inserting a biodegradable stent into the affected artery, allowing blood to circulate freely.

Impact of COVID-19 on the global biodegradable stents market:

The COVID-19 pandemic has significantly impacted the global biodegradable stents market. Lockdowns, travel restrictions and fear among the people reduced patient visits to hospitals to seek treatment. As a result, people with cardiovascular diseases who would otherwise seek stent insertion treatments delayed or skipped visits to healthcare facilities. This contributed to a drop in demand for biodegradable stents during the COVID-19 pandemic and affected the market growth negatively. One of the most major effects of the COVID-19 pandemic has been the disruption of elective surgeries, including stent insertion procedures, which were postponed or cancelled due to overburdened healthcare systems and the diversion of healthcare resources towards containing the spread of coronavirus. As a result, the market for biodegradable stents faced a negative impact.

However, the market for biodegradable stents remains optimistic in the long run, as biodegradable stents are an appealing alternative for patients and healthcare professionals, given their temporary nature. Furthermore, ongoing advancements in technology and research activities in the field of biodegradable stents encourage innovation and better clinical outcomes.

MARKET DRIVERS:

The growing patient population of cardiovascular diseases worldwide majorly drive the growth of the biodegradable stents market. The incidence of cardiovascular diseases, such as coronary artery disease is on the rise and continues to be a leading cause of mortality and morbidity worldwide. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, accounting for approximately 17.9 million deaths each year. Cardiovascular disorders are caused by factors such as sedentary lifestyles and unhealthy dietary habits. Therefore, the need for better treatment outcomes drives the adoption of biodegradable stents as they offer a promising solution for the long term by providing temporary vessel support and natural vessel healing.

The growing global aging population contributes to the growth of the biodegradable stents market. An increase in the geriatric population, which is more susceptible to heart disease, is also expected to enhance the demand for biodegradable stents. According to the World Health Organisation Facts for October 2021, the share of the global population aged 60 and up will nearly double between 2015 and 2050, rising from 12% to 22%. Technological advancements and increasing number of R&D activities in the field of biodegradable stents further fuel the growth rate of the biodegradable stents market. The major market players invest significantly in research and development to improve the biodegradable stents' mechanical properties, degradation profiles and biocompatibility to enhance clinical outcomes and increase patient satisfaction.

Bioabsorbable stents are an important part of minimally invasive treatments because they can be put in place with a catheter. The preference of patients and doctors towards minimally invasive procedures over traditional surgeries drives the demand for biodegradable stents. A study in the Journal of the American Medical Association (JAMA) found that minimally invasive treatments for coronary artery disease, such as stent implantation, are on the rise and make up a large part of all coronary interventions. The rising support by regulatory departments like EMA and FDA, increasing healthcare expenditure, growing awareness, and collaborations between industry players and academic institutions further propel the growth of the global biodegradable stents market.

MARKET RESTRAINTS:

High costs associated with the biodegradable stents is one of the major impediments to the global biodegradable stents market. Costs for biodegradable stents are typically higher than those for conventional metallic stents. The development and production of biodegradable stents require the use of advanced materials, manufacturing processes, and regulatory requirements, all of which add to the overall cost. Therefore, their adoption may be restricted in regions with limited healthcare budgets or reimbursement restrictions. Moreover, the market for biodegradable stents is extremely competitive, with numerous key players competing for a sizeable market share. The presence of established manufacturers of metallic stents and the introduction of drug-eluting metallic stents present obstacles to the growth of the biodegradable stents market.

REPORT COVERAGE:

This research report on the global biodegradable stents market has been segmented and sub-segmented based on the product, application, absorption rate, end-user and region.

Global Biodegradable Stents Market – By Product Type:

• Polymeric Stents
• Metallic Alloy-based Stents
• Other Material-based Stents

Based on product type, the polymeric stent segment held the major share of the global biodegradable stents market in 2022 and is expected to retain its leading position throughout the forecast period. Polymer-based bioabsorbable stents are made of materials that can decompose or be absorbed entirely by the body. Most of bioabsorbable stents are composed of polylactic acid, a naturally dissolving substance. The advantages of polymeric stents, including flexibility, drug-eluting capabilities, and controlled degradation, have contributed to their widespread adoption. A 2020 study released in the journal Catheterization and Cardiovascular Interventions found that bioabsorbable polymer (BP) drug-eluting stents (DES) are safer and work better than durable polymer (DP) DES in high-risk patients undergoing percutaneous coronary intervention (PCI). So, the high safety and effectiveness of polymer-based bioabsorbable stents is expected to boost segmental growth.

Global Biodegradable Stents Market – By Application:

• Coronary Artery Disease
• Peripheral Artery Disease

Global Biodegradable Stents Market – By Absorption Rate:

• Slow Absorption Rate
• Intermediate Absorption Rate
• Fast Absorption Rate

Global Biodegradable Stents Market – By End User:

• Hospital
• Cardiac Centers

Global Biodegradable Stents Market – By Region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

North America had the largest share of the global market in 2022 and the domination of the North America is likely to continue throughout the forecast period. The growing prevalence of cardiovascular diseases in North America primarily drive the North American market growth. According to the American Heart Association, roughly 121.5 million persons in the United States had some type of cardiovascular disease in 2019. In addition, the region benefits from a well-established healthcare infrastructure, increasing healthcare spending, and early acceptance of novel medical technologies. Favourable reimbursement regulations and the presence of key market competitors in the region also contribute to North America's dominance in the biodegradable stents market.

KEY MARKET PLAYERS:

Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Terumo Corporation, Biotronik SE & Co. KG, MicroPort Scientific Corporation, Elixir Medical Corporation, Kyoto Medical Planning Co., Ltd., REVA Medical, Inc. and Meril Life Sciences Pvt. Ltd. are some of the notable companies in the global biodegradable stents market.

RECENT HAPPENINGS IN THE MARKET:

• In May 2022, a research paper found that a novel biodegradable ureteral stent with an antibacterial ability can inhibit biofilm formation. A modified biodegradable PLACL was confirmed to have good hydrophilicity, which can resist protein adhesion, good biocompatibility and excellent antibacterial ability, which could inhibit bacterial biofilm formation and kill free bacteria in the substrate.
• In February 2022, the Ultrathin Strut Orsiro Coronary Drug-Eluting Stent (DES) from BIOTRONIK establishes a new clinical standard. Orsiro DES' superior safety is confirmed by the final 5-year data from the BIOFLOW-V experiment, reinforcing Orsiro's position as the industry standard for DES.