USD 374.94 million
Global Bioresorbable Scaffolds Market Size, Share, Growth Analysis, By Type(Drug Eluting Coronary Scaffolds, Sirolimus-Eluting Device), By Material(Absorbable Magnesium Stent (AMS), Polymeric Scaffold) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2472 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
66 |
Figures:
70
Global Bioresorbable Scaffolds Market Insights
Global Bioresorbable Scaffolds Market size was valued at USD 374.94 million in 2022 and is poised to grow from USD 416.56 million in 2023 to USD 966.92 million by 2031, growing at a CAGR of 11.10% during the forecast period (2024-2031).
The bioresorbable scaffolds market is witnessing significant growth owing to advancements in medical technology and the increasing prevalence of cardiovascular diseases. Bioresorbable scaffolds are temporary implants used to treat coronary artery diseases, gradually dissolving over time while allowing the vessel to heal naturally. This market is segmented into material type, application, end-user, and region.
The market's material type segment includes polymer-based and metal-based scaffolds. Polymer-based scaffolds dominate the market due to their biocompatibility and gradual resorption properties. Cardiovascular diseases, orthopedic disorders, and others comprise the application segment, with cardiovascular diseases leading the demand due to a high incidence rate.
Hospitals, ambulatory surgical centers, and specialized clinics constitute the end-user segment. The rising number of hospital admissions for cardiac interventions drives the demand for bioresorbable scaffolds. Geographically, North America commands a significant market share due to well-established healthcare infrastructure and increasing cardiovascular disease cases. Europe follows with a strong focus on research and development, while the Asia-Pacific region is witnessing growth due to the rise in healthcare investments and the aging population.
Factors driving the market include the growing elderly population, demand for minimally invasive procedures, and technological advancements. However, challenges like high costs and the need for skilled professionals hinder market growth. With ongoing research to enhance scaffold properties and efficacy, the bioresorbable scaffolds market is anticipated to expand in the coming years.
US Bioresorbable Scaffolds Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Drug Eluting Coronary Scaffolds
Fastest Growth
Drug Eluting Coronary Scaffolds
Growth Rate
11.10% CAGR
Global Bioresorbable Scaffolds market ($ Bn)
Country Share for North America Region (%)
Global Bioresorbable scaffolds market By Type ($ Bn)
Global Bioresorbable scaffolds market By Type (%)
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Global Bioresorbable Scaffolds Market Segmental Analysis
The bioresorbable scaffolds market is segmented by type, material, application, end-user, and region. Based on type the market is segmented as, Drug Eluting Coronary Scaffolds, Sirolimus-Eluting Device, Everolimus-Eluting Device, Novolimus-Eluting Device, and Paclitaxel-Eluting Device. Based on material, the market is segmented as, Absorbable Magnesium Stent (AMS), Polymeric Scaffold, Polycarbonate Scaffold, and Others. Based on application the market is segmented as, Peripheral vascular intervention, Regulation of blood flow, Others. Based on end-user the market is segmented as, Hospitals, Clinics, Others. Based on Region the market is segmented as, North America, Europe, Asia Pacific, and Latin America.
Bioresorbable Scaffolds Market Analysis By Application
As of 2022, the coronary artery/vascular stent segment held a significant revenue share of over 96.0%. This dominance is attributed to the utilization of bioresorbable vascular scaffolds for the treatment of coronary and peripheral artery blockages associated with cardiovascular disorders such as coronary heart disease and ischemic heart disease. The prevalent cases of these cardiovascular conditions drive the demand for bioresorbable vascular scaffolds, leading to the substantial growth of this segment.
The European Heart Network's data highlights the severity of cardiovascular disease (CVD), causing approximately 1.8 million deaths in the European Union and 3.9 million deaths across Europe annually. CVD accounts for 37% of all deaths in the EU and 45% of all deaths in Europe. Conversely, the peripheral artery/vascular stents segment is expected to experience growth at a notable Compound Annual Growth Rate (CAGR). In August 2018, Reva Medical achieved CE mark clearance for its Motiv bioresorbable scaffold designed for treating below-the-knee peripheral artery disease. This achievement marked a significant milestone as Motiv became the first drug-eluting bioresorbable scaffold in this application.
Bioresorbable Scaffolds Market Analysis By End User
As of 2022, hospitals commanded a significant revenue share of over 98.0%. Hospitals play a vital role within the broader healthcare system, acting as a cornerstone for medical services and driving research and innovation. This prompts corporations to channel considerable efforts into revenue generation and marketing strategies aimed at promoting their products and services within hospital settings. The preference for hospitals stems from their ability to offer superior patient care, thus contributing to their substantial growth.
The aging population's increasing size underscores the necessity for frequent and accessible healthcare services. As individuals grow older, their immune systems weaken, rendering them more vulnerable to various illnesses and conditions. This heightened demand for medical care further accentuates the role of hospitals. Additionally, the well-established healthcare infrastructure in the region, characterized by adequate hospital beds, advanced equipment, and heightened government investments, is poised to accelerate the expansion of hospital services.
Among other healthcare facilities, coronary artery disease (CAD) and peripheral artery disease (PAD) centers, as well as ambulatory surgery centers, also contribute to the market landscape. Ambulatory surgery centers offer a convenient and cost-effective alternative to hospitals, delivering equivalent quality care to patients. The trend of increased outpatient admissions is driven by the adoption of advanced medical techniques that make treatments more affordable and efficient. The incorporation of innovative surgical procedures within such centers allows for procedures to be performed without the need for hospitalization, thus supporting the growth of this segment.
Global Bioresorbable scaffolds market By Type, 2023 (%)
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Global Bioresorbable Scaffolds Market Regional Insights
The dominance of the global bioresorbable scaffolds market stands with North America, attributed to several factors such as a significant population affected with cardiovascular diseases, a multitude of prominent companies operating in the region, and an increasing elderly demographic. Moreover, the rise in obesity and diabetes cases, sedentary lifestyles, heightened stress levels, and desk-bound routines have collectively propelled market growth. Following the Americas, Europe holds the second-largest market share, trailed by the Asia Pacific region. Notably, Asia Pacific stands out as the rapidly growing market due to its swift technological advancements and a substantial patient pool grappling with various vascular disorders. On the other hand, the Middle East & Africa region accounts for the least share in the global bioresorbable scaffolds market.
Global Bioresorbable scaffolds market By Geography, 2024-2031
- Largest
- Fastest
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Global Bioresorbable Scaffolds Market Dynamics
Bioresorbable Scaffolds Market Drivers
Cardiovascular Diseases Prevalence:
- The escalating prevalence of cardiovascular diseases, such as coronary artery disease and peripheral artery disease, is a major driver for the bioresorbable scaffolds market. These conditions necessitate advanced treatments to restore blood flow, creating a demand for innovative solutions like bioresorbable scaffolds.
Minimally Invasive Procedures:
- The preference for minimally invasive procedures is driving the adoption of bioresorbable scaffolds. These scaffolds provide a viable alternative to traditional metallic stents, offering reduced invasiveness and faster recovery times for patients.
Bioresorbable Scaffolds Market Restraints
Limited Clinical Evidence:
- The bioresorbable scaffolds market faces a challenge in terms of limited long-term clinical evidence. The outcomes of bioresorbable scaffold implants compared to traditional stents need further evaluation to establish their efficacy and safety conclusively.
Complex Manufacturing Process:
- The intricate manufacturing process of bioresorbable scaffolds contributes to their higher costs. Moreover, any quality control issues in production can impact the reliability of these devices..
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Global Bioresorbable Scaffolds Market Competitive Landscape
The competitive landscape of the bioresorbable scaffolds market encompasses comprehensive insights into each competitor. These insights encompass various aspects, including an overview of the company, its financial standing, revenue generation, market potential, research and development investments, novel market strategies, global reach, production facilities, capacities, strengths, weaknesses, product launches, breadth of offerings, and dominant applications. Notably, the information provided pertains solely to the strategic direction of these companies in the context of the bioresorbable scaffolds market.
Bioresorbable Scaffolds Market Top Player’s Company Profile
- Biotronik
- Elixir Medical Corporation
- REVA Medical
- Amaranth Medical
- Kyoto Medical Planning
- Xenogenics Corporation
- B. Braun
- Cardinal Health
- Lombard Medical
- Translumina
- MicroPort Scientific Corporation
- TERUMO CORPORATION
Bioresorbable Scaffolds Market Recent Developments
- In April 2023, Arterius announced that it appointed Gerard Harper as Chief Financial Officer. Arterius is a leading U.K.-based company that is developing innovative medical devices including next-generation bioresorbable peripheral stents. Gerard would help Arterius to develop and drive the commercial strategy for the successful launch of a suite of innovative technologies in its current pipeline.
Global Bioresorbable Scaffolds Key Market Trends
Growing Geriatric Population:
- Increasing elderly population requires frequent healthcare services, driving the demand for bioresorbable scaffolds as older individuals are more susceptible to cardiovascular diseases.
Dominance of Coronary Artery/Vascular Stents:
- Coronary artery/vascular stents segment holds a significant revenue share due to its use in treating coronary heart disease and other cardiovascular disorders, contributing to industry growth..
Global Bioresorbable Scaffolds Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global bioresorbable scaffolds market analysis, the rising prevalence of cardiovascular diseases and the demand for advanced and minimally invasive treatment options are the key growth drivers. These scaffolds provide temporary support to diseased blood vessels, gradually dissolving over time, and eliminating the need for permanent implants. The market is segmented based on material type, end-user, and region. North America and Europe are major regions due to well-established healthcare infrastructure and high adoption rates of advanced medical technologies. Asia-Pacific is also emerging as a significant market, propelled by increasing healthcare expenditure and growing awareness of innovative treatments. The market's growth is further fueled by collaborations among medical device manufacturers, research institutions, and healthcare providers to develop advanced bioresorbable scaffold solutions. Additionally, the preference for minimally invasive procedures, reduced risk of late adverse events, and patient convenience are driving factors for market expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 374.94 million |
| Market size value in 2031 | USD 966.92 million |
| Growth Rate | 11.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Bioresorbable Scaffolds Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Bioresorbable Scaffolds Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Bioresorbable Scaffolds Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Bioresorbable Scaffolds Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Bioresorbable Scaffolds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Bioresorbable Scaffolds Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Bioresorbable Scaffolds Market Report Snapshots
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