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.
“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.
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Biodegradable Stents: Global Markets( AVM158A )
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