Bio-absorbable Stents Market Size, Share, Trends, Analysis and Forecasts To 2021
Market Research analysts forecast the global bio-absorbable stents market to grow at a CAGR of 40.93 % during the period 2017-2021.
The following companies as the key players in the global bio-absorbable stents market: Boston Scientific, Abbott Laboratories, Elixir Medical, and Kyoto Medical Planning.
Other Prominent Vendors in the market are: REVA Medical, Arterial Remodeling Technologies, Tepha, Meril Life Sciences, Amaranth Medical, and Arterius.
Commenting on the report, an analyst team said: The latest trend gaining momentum in the market is advent of metallic stents. Vendors are focusing on newer technology in the development of bioabsorbable stents with advanced features. The use of technology results in high use of bioabsorbable stents globally. The advances in vascular surgery has brought great focus in development and newer ways to solve the difficult clinical problems. The development of new alloys in the manufacture of stents is expected to lead to an increase in the adoption of bioabsorbable stents in the treatment of CADs and PADs.
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According to the report, one of the major drivers for this market is increasing prevalence of CADs. There has been a rise in incidence of cardiac diseases globally, with cardiac arrest being the leading cause of death among individuals aged 60 years and above. According to CDC, cardiac disorders accounted for over 0.45 million deaths in the US each year. Hypertension is the most common reason for heart failure, which is caused due to rise in blood pressure in the arteries. This is an important risk factor for various CVDs like heart failure, stroke, CAD, and PVD.
Further, the report states that one of the major factors hindering the growth of this market is stringent regulation for approval of devices. Regulatory authorities have enforced a stringent regulatory framework and labeling requirement for medical devices. These devices are always considered as high risk and undergo safety examination to demonstrate efficacy before they are granted approval. The FDA might delay or reject devices, which do not demonstrate the required safety.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.