The Bioresorbable Vascular Scaffold Market Size is valued at USD 169.60 Mn in 2023 and is predicted to reach USD 300.32 Mn by the year 2031 at a 7.56% CAGR during the forecast period for 2024-2031.
The market for bioresorbable scaffolds is growing due to an increase in acceptance of cardiovascular procedures due to the advantages provided, including full body absorption and an increase in lifestyle-related disorders like diabetes and obesity. The rise also influences the market for bioresorbable scaffolds in adopting unhealthy lifestyle habits like drinking alcohol, eating poorly, and not exercising, as well as advancements developed by major industry players to help arteries function normally again.
Additionally, the market for bioresorbable scaffolds is favourably impacted by changing lifestyles, population expansion, an increase in cardiovascular procedures, and rising healthcare costs. Research and development efforts to stop vascular recoil that permits anti-proliferative medication release to expand the lucrative potential for the bioresorbable.
Another element projected to contribute to the target market's growth during the projected period is the development of novel bioresorbable vascular scaffolds that aid patients with cardiovascular disorders. Furthermore, new product technologies, various products in development, and increased demand for biocompatible and safe coronary stents are other factors anticipated to fuel market expansion globally throughout the forecast period.
Competitive Landscape:
Some major key players in the Bioresorbable Vascular Scaffold Market:
- BIOTRONIK Group of Companies
- Meryl Life Sciences Pvt. Ltd.
- Kyoto Medical Planning Co., Ltd.
- Elixir Medical
- Zorin Medical
Market Segmentation:
The bioresorbable vascular scaffold market is segmented based on product, diseases type, material type and end users. As per the product, the market is segmented as everolimus-eluting devices, novolimus-eluting devices, and sirolimus-eluting devices. The market is segmented as coronary and peripheral artery disease based on disease type. The market is segmented as Poly-L-Lactic Acid (PLLA), Tyrosine-derived Polycarbonate and Others based on material type. End users segment the market into hospitals, ambulatory surgical centres, cardiac catheterization labs and others.
Based On Product, The Coronary Artery Disease Alcohols Segment Is Accounted As A Major Contributor In The Bioresorbable Vascular Scaffold Market
The coronary artery disease category will hold a major share of the global bioresorbable vascular scaffold market in 2024. A bioresorbable vascular scaffold treats coronary and peripheral arterial obstruction related to coronary heart disease, ischemic heart disease, and other cardiovascular illnesses. The rising frequency of coronary heart disease, ischemic heart disease, and other cardiovascular disorders is predicted to raise demand for the bioresorbable vascular scaffold, ultimately fueling industrial expansion.
The Hospital Segment Witnessed Rapid Growth
The hospital segment is likely to grow rapidly in the global bioresorbable vascular scaffold market. The primary source of money for the entire healthcare industry, which supports research and innovation, is the hospital sector, which is significant to the healthcare system. Thus, businesses are working hard to promote their goods and services at hospitals from a financial and marketing perspective. As a result of their enhanced patient care, hospitals have experienced profitable expansion.
As individuals get older, their immune systems decline, and they become more prone to illnesses and disorders, which increases the need for hospitals; there is an increasing need for frequent access to healthcare services. The region's well-developed healthcare infrastructure, which includes hospital beds, equipment, and increased government funding, is anticipated to hasten the growth of the hospitals.
The North America Bioresorbable Vascular Scaffold Market Holds A Significant Regional Revenue Share
The North American bioresorbable vascular scaffold market is expected to record the maximum market share in revenue shortly. This can be attributed to the sturdy focus on the environment in the region, with the growing adoption of Bioresorbable Vascular scaffolds in different industries, including food & beverages, personal care, packaging, automotive, and others. In addition, the region's chemical industry is focusing on producing Bioresorbable Vascular Scaffolds to develop sustainable and environmentally-friendly solutions.
The region's target market is expanding as a result of factors including rising demand for bio-based components across sectors and growing use of bioresorbable vascular scaffolds in the manufacturing of intermediate chemicals. In addition, Europe is anticipated to have tremendous growth. The elderly population in the area is growing swiftly, and obesity, coronary artery disease, peripheral artery disease, and heart disease are all on the rise.
Bioresorbable Vascular Scaffold Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 169.60 Mn |
|
Revenue forecast in 2031 |
USD 300.32 Mn |
|
Growth rate CAGR |
CAGR of 7.56% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, volume (number of units) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
By Product Type, By Disease Type, By Material Type, By End-User. |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
BIOTRONIK Group of Companies, Meryl Life Sciences Pvt. Ltd., Kyoto Medical Planning Co., Ltd., Elixir Medical, Zorin Medical |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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