Biodegradable Stents Market to See 28.8% Annual Growth Through 2023

North American Demand for Non-toxic Products Will Lead Industry Expansion

June 03, 2019

WELLESLEY, Mass., June 03, 2019–Strong demand from North America will help to drive growth of the biodegradable stents (BDS) market, according to a report by BCC Research, “Biodegradable Stents: Global Markets.”

The market expects to see a compound annual growth rate (CAGR) of 28.8% through 2023, when it could be worth $378 million, according to the report.

Major players in the market include Abbott Vascular (ABT), Boston Scientific (BSX), Elixir Medical, Lifetech Scientific (1302), Micell Technologies, and Reva Medical (RVALL).

Research Highlights

North America leads the market by growth, with a CAGR through 2023 of 198%, though Europe leads the market by size, with a 2018 value of $82.3 million.

For coronary disease, Europe leads the market by size, with a 2018 value of $51.1 million, followed by the Asia-Pacific region at $16.3 million and the rest of the world at $2.8 million.

For non-coronary vascular disease, market growth is led by North America, which anticipates at CAGR through 2023 of 138.7%, followed by the rest of the world at 17.6% and Europe at 3.1%.

“The future holds wide scope for the development of the BDS market given the huge demand and that a large number of high-profile innovations are in progress toward market entry,” notes report author Arpita Mukherjee. “Market players in this emerging industry involve both tier 1 and tier 2 stent manufacturers, and start-ups with novel BDS technology. A growing number of start-ups and smaller enterprises are developing innovative BDS products to reach both domestic and international markets.”

Market Challenges Include Regulatory Issues, High Product Cost, Safety Issues

Chief among challenges facing the industry are regulatory issues, the report adds. Stringent regulations in the U.S. are slowing market growth, with looming approval process changes in Europe set to kick in between 2020 and 2023. Meanwhile, biodegradable stents cost as much as five times more than traditional products, with high prices particularly limiting the market in emerging economies such as India. The interim results from some clinical trials have been unsatisfying, leading to a safety alert for one product and the need for more long-term clinical trials.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Biodegradable Stents: Global Markets( AVM158A )
Publish Date: Apr 2019

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