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 .