Sales within the global bioabsorbable stent market have been forecast to increase at an astonishing compound annual growth rate (CAGR) of 172% over the next six years, increasing from $4.2 million in 2012, to hit a market value of $702 million by 2018.
In medicine, a stent is any device which is inserted into a blood vessel or other internal duct in order to expand the vessel to prevent or alleviate a blockage. Traditionally, such devices are fabricated from metal mesh and remain in the body permanently or until removed through further surgical intervention.
A bioresorbable, biodegradable, or bioabsorbable stent serves the same purpose, but is manufactured from a material that may dissolve or be absorbed in the body.
Bioabsorbable stents have shown early beneficial results. Manufacturers should continue to develop and fine tune the technology in order to decrease the late complications.
Bioabsorbable stent technology is in its infancy and has a long road ahead before it is widely adopted into clinical practice. This technology has the potential to revolutionize the stent industry and improve treatment outcomes for patients with coronary and peripheral artery disease.
Germany is leading the way with bioabsorbable stenting and has the largest market share in Europe; other European countries such as France are not far behind. The US will acquire market share steadily as bioabsorbable stents receive approval.
Companies such as Biotronik and REVA Medical are also developing fully bioabsorbable stents that will increase the competition in the market. As these stents enter the market, they will affect the current selling price and the market share of Absorb BVS and Remedy.
Abbott's fully bioabsorbable coronary stent has been approved in Europe, and expected to get FDA approval in 2015. Boston Scientific is also developing a novel everolimus-eluting stent with a bioabsorbable polymer.
For more information on the bioabsorbale stent market, see the latest research: Bioabsorbable Stent Market
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