Global Bioresorbable Drug Eluting Stent Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2024 - 2034
The Bioresorbable Drug Eluting Stent marks an era in coronary stenting as it mimics the performance of a metal stent before gradually dissolving within the body over time to promote enhanced vessel healing and restoration to its natural state. These innovative stents find utility in treating conditions like coronary heart disease and peripheral artery disease with recent market observations indicating heightened interest, in tailored medical approaches and material science innovations.
Market Key Insights
- The Bioresorbable Drug Eluting Stent market is projected to grow from $880.8 million in 2024 to $1.75 billion in 2034. This represents a CAGR of 7.1%, reflecting rising demand across Coronary Artery Disease Treatment, Off-label Uses and Peripheral Artery Disease Treatment.
- Abbott Laboratories, Boston Scientific Corporation, Biotronik SE & Co. KG are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Bioresorbable Drug Eluting Stent market and are expected to observe the growth CAGR of 4.6% to 6.8% between 2024 and 2030.
- Emerging markets including Brazil, India and South Africa are expected to observe highest growth with CAGR ranging between 8.2% to 9.8%.
- Transition like Technological Advancements is expected to add $117.9 million to the Bioresorbable Drug Eluting Stent market growth by 2030
- The Bioresorbable Drug Eluting Stent market is set to add $868 million between 2024 and 2034, with manufacturer targeting Myocardial Infarction & Multivessel Coronary Artery Disease Application projected to gain a larger market share.
- With Increased prevalence of cardiovascular diseases, and Technological advancements in stent design, Bioresorbable Drug Eluting Stent market to expand 99% between 2024 and 2034.
Opportunities in the Bioresorbable Drug Eluting Stent
The increasing popularity of invasive surgeries is leading to a significant rise in the demand for the Bioresorbable Drug Eluting Stent, in the market.
Growth Opportunities in North America and Asia Pacific
North America Outlook
Asia Pacific Outlook
Market Dynamics and Supply Chain
Driver: Increased Prevalence of Cardiovascular Diseases, and Favorable Reimbursement Policies
The progress in stent technology has also led to the rise of Drug Eluting Stents in the market due to advancements like using biodegradable materials and targeted drug delivery features that enhance their efficacy and minimize complications during surgeries, for various cardiac procedures.
Restraint: Regulatory Hurdles
Opportunity: Technological Advancements in Stent Design and Adoption in Untapped Developing Markets
The field of Drug Eluting Stents in developing countries still has room to grow significantly with South Asia and Sub Saharan Africa holding vast opportunities for expansion due to the rising cases of cardiovascular diseases in these regions. The increasing healthcare infrastructure and improving conditions are also driving the demand for advanced medical devices like Bioresorbable Drug Eluting Stents, in these areas.
Challenge: High Costs and Limitations in Insurance Coverage
Supply Chain Landscape
Dupont
Royal DSM
Orbusneich Medical
Boston Scientific Corporation
Johnson and Johnson
Medtronic PLC
Abbott Laboratories
Cardinal Health
Dupont
Royal DSM
Orbusneich Medical
Boston Scientific Corporation
Johnson and Johnson
Medtronic PLC
Abbott Laboratories
Cardinal Health
Applications of Bioresorbable Drug Eluting Stent in Coronary Artery Disease Treatment, Off-label Uses & Peripheral Artery Disease Treatment
The bioresorbable drug eluting stent is predominantly employed in the treatment of coronary artery disease. They are designed to keep the clogged arteries open and prevent heart attacks. These stents gradually vanish or resorb over time, decreasing the possibility of long-term complications and improving the patients quality of life. Major players such as Abbott Vascular and Boston Scientific have a strong market position, delivering high-quality stents that merge design innovations, drug delivery technology, and bioresorbable material science.
Bioresorbable drug eluting stents are extensively used for peripheral artery disease treatment as well. These stents act as minuscule scaffolds that prevent the artery from closing again after the angioplasty procedure. Companies like Medtronic and Cook Medical are known for forging ahead with advanced stents, leveraging superior alloy technology, and optimizing stent designs for enhanced flexibility and radial strength, thereby ensuring a strong market presence.
Beyond the core applications, bioresorbable drug eluting stents are being explored for their potential off-label uses. Owing to the stents bioresorbable nature, they are postulated to minimize the risk associated with long-term implantation.
Recent Developments
Boston Scientific Corporation announced the release of their next-generation Bioresorbable Drug Eluting Stent, boasting improved deliverability and enhanced patient outcomes
Abbott Laboratories revealed results of their two-year follow-up study, demonstrating the impressive efficacy and safety profile of their Bioresorbable Drug Eluting Stents
Medtronic Plc introduced a new manufacturing technique, setting a new benchmark in the fabrication of Bioresorbable Drug Eluting Stent, promising lower costs and increased production efficiency