Bioresorbable vascular scaffold market analysis| Coherent Market Insights

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2. BIORESORBABLE VASCULAR SCAFFOLD MARKET ANALYSIS Bioresorbable Vascular Scaffold Market - Global Forecast to 2026, Product Type (Synthetic, Biological), by Material (Metal based BVS, Polymer Based BVS), by application (Coronary Artery Stents, Peripheral Artery Stents, Others), by End User (Hospitals, Ambulatory Surgical Centers, and Cardiac Centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026 Bioresorbable vascular stents expand the blood vessel to prevent a blockage, which are disintegrated in human body without any external intervention. It prevents inflammation leading to stent restenosis and thrombosis and eliminates the need for post-treatment involvements. Bioresorbable stents are superior over 1st and 2nd generation stents as Bioresorbable stents cut the need for dual antiplatelet therapies.

3. Figure 1. Global Bioresorbable Vascular Scaffold Market Value (US$ Mn), by Region, 2017

4. Increasing prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular diseases is expected to propel growth of the bioresorbable vascular scaffold market Bioresorbable vascular scaffold is used in treatment of blockage of coronary and peripheral artery, which is related to coronary heart disease, ischemic heart disease, and other cardiovascular diseases. High prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular diseases is expected to propel demand for bioresorbable vascular scaffold, which in turn will drive the market growth. According to World Health Organization (WHO), 2015, cardiovascular diseases is the first leading cause of morbidity and mortality worldwide, with around 17.7 million representing 31% of all global deaths in 2015, out of these deaths, an estimated 6.7 million were due to stroke and 7.4 million were due to coronary heart disease.

5. Figure 2. Global Bioresorbable Vascular Scaffold Market Share (%), by Material, 2018 and 2026

6. Similarly, according to American Heart Association in 2018, 92.1 million American adults were suffering with some form of cardiovascular disease or the after-effects of stroke. Nearly 836,546 deaths in the U.S. were due to cardiovascular disease, which is about 1 of every 3 deaths. Direct and indirect costs in the treatment of cardiovascular diseases and stroke were estimated to amount to US$ 329.7 billion in 2018, which includes both health expenditures and lost productivity, in the U.S. Furthermore, introduction of novel bioresorbable vascular scaffold, which help patients with cardiovascular diseases, is propelling growth of the bioresorbable vascular scaffolds market over the forecast period. For instance, in July 2016, Abbott received approval from the US Food and Drug Administration for Absorb GT1 bioresorbable vascular scaffold (BVS). The product fully resorbs over time and improves coronary luminal diameter in patients with ischemic heart disease due to de novo native coronary artery lesions.

7. Increasing adoption of bioresorbable vascular scaffolds in North America is expected to boost the market growth North America is expected to be held dominant position in the global bioresorbable vascular scaffold market, owing to rapid growth in geriatric population, rising incidences of cardiac ailments, coronary & peripheral artery diseases, and increasing number of obese people in the region. According to World Population Prospects, the number of persons aged 80 or over is projected to triple by 2050, from 137 million in 2017, to 425 million in 2050 in the U.S., while this age bracket is expected to more than double globally, rising from 962 million in 2017 to 2.1 billion in 2050. Moreover, key players in the market are focused on receiving regulatory approvals for novel products to reduce the burden of blood stream infections associated with bioresorbable vascular scaffolds. For instance, in May, 2018, Pursuit Vascular, Inc., received U.S. FDA clearance for broader indication of its ClearGuard HD caps to include reduction in the incidence of central-line associated bloodstream infection (CLABSI) in hemodialysis patients with bioresorbable vascular scaffolds.

8. Key Players Major players operating in the global bioresorbable vascular scaffold market include Abbott, Cook Medical, Boston Scientific Corporation, B. Braun Melsungen AG, Medtronic Plc., Stentys SA, MAQUET Holding B.V. & Co. KG (Getinge AB), W.L. Gore & Associates, C. R. Bard, Inc., and Theragenics Corporation.

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