Biodegradable Stents Market by Type (Coronary Artery Stents, Non-vascular Stents, Peripheral Artery Stents), Deployment (Balloon-Expandable Stents, Self-Expanding Stents), Material, Design, Application, End User - Global Forecast 2024-2030

Biodegradable Stents Market by Type (Coronary Artery Stents, Non-vascular Stents, Peripheral Artery Stents), Deployment (Balloon-Expandable Stents, Self-Expanding Stents), Material, Design, Application, End User - Global Forecast 2024-2030

The Biodegradable Stents Market size was estimated at USD 406.78 million in 2023 and expected to reach USD 426.39 million in 2024, at a CAGR 5.02% to reach USD 573.20 million by 2030.

Biodegradable stents are specialized medical devices, often made from materials such as polylactic acid, that are used to treat cardiovascular diseases by keeping blocked arteries open. Unlike traditional metallic stents, biodegradable stents gradually dissolve in the body over a period of time, typically within one to two years, thus reducing the risk of long-term complications including stent thrombosis. The growing use of these stents is primarily driven by their potential to improve postoperative outcomes by eventually eliminating the need for a permanent implant, which can reduce the likelihood of future interventions and possibly lower the patient's long-term dependency on antiplatelet medications. However, their structural weakness is compared to metallic stents, as they might not provide the same level of support immediately after implantation and during the degradation process. There is also the risk of an inflammatory response from the body as the material degrades. Furthermore, these stents are generally more expensive than their metallic counterparts, which can limit their affordability and accessibility in various healthcare markets. Nevertheless, advancements in material science could lead to the development of new, more robust biodegradable materials that provide better support and degrade more predictably within the body. Additionally, increasing awareness about the benefits of biodegradable stents could drive wider adoption and potentially spur regulatory bodies to encourage their use through favorable policies. As healthcare systems continue to emphasize patient-centric and cost-effective treatments, biodegradable stents could see increased demand, particularly in markets keen on adopting innovative medical solutions.

Regional Insights

The biodegradable stents market across the Americas shows a developed landscape, particularly in the United States and Canada, with an emphasis on advanced healthcare technologies that enhance patient outcomes and reduce long-term costs, which drives the demand for biodegradable stents. The EMEA region shows a robust interest in biodegradable stents, driven by well-established healthcare systems in Western Europe and increasing healthcare reforms in the Middle East and Africa that focus on improving cardiovascular care. Asia Pacific region showcases the fastest growth due to rising healthcare spending, an increasing burden of cardiovascular diseases, and improving healthcare infrastructure in emerging economies such as China and India. Across these regions, ongoing clinical trials and research to prove the efficacy and safety of biodegradable stents are pivotal in shaping the market, alongside the evolving regulatory landscape that addresses these innovative medical devices.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Biodegradable Stents Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing prevalence of cardiovascular diseases
• Shift toward minimally invasive procedures

Market Restraints

• High cost associated with biodegradable stents

Market Opportunities

• Innovations in stent technology and customization of biodegradable stents
• Enhanced government support and regulatory approvals

Market Challenges

• Product recall and safety concerns associated with biodegradable stents

Market Segmentation Analysis

• Type: Increasing applications of coronary artery stents in patients with heart disease to ensure adequate blood flow to the heart
• Application: Proliferation of use of biodegradable stents in cardiovascular disease to improve blood flow to the heart

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Biodegradable Stents Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Biodegradable Stents Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Innovative Partnership in Medical Technology: IIT Roorkee Collaborates with Univlabs Technologies to Develop Biodegradable Ureteral Stents

The Indian Institute of Technology Roorkee has entered into a collaborative agreement with Univlabs Technologies aimed at commercializing a groundbreaking biodegradable stent technology for enhancing urological treatments. The new biodegradable stent developed by IIT Roorkee, in collaboration with researchers, is designed from a polymeric composite that can naturally degrade within the body through enzymatic actions within a specified period, tailored to avoid the need for a second surgery to remove the stent.

SafeGuard Surgical's LeakGuard Biodegradable Stent Receives FDA Breakthrough Designation Amid Financial Milestone

SafeGuard Surgical has announced the FDA's breakthrough device designation for its LeakGuard biodegradable stent, marking a significant regulatory achievement. The company also concluded its Series A funding, spearheaded by Tom Pepin of Tapper Ventures, underscores a commitment to address health disparities in colorectal cancer rates in communities of color. This biodegradable stent is crafted from a medical-grade polymer and designed to prevent surgical complications by eliminating the need for a second surgery traditionally required to manage anastomotic leaks in colorectal procedures. The stent offers a promising alternative to conventional methods, such as diverting ostomies, which often involve higher morbidity and substantial costs.

Strategic Acquisition Enhances Innovations in Coronary Treatment: Kaneka Corporation’s Expansion into Biodegradable Stent Market

Kaneka Corporation acquired Japan Medical Device Technology Co., Ltd. (JMDT) to broaden its market presence, specifically in the coronary artery disease treatment niche, a market valued at approximately 30 billion yen in Japan. By integrating JMDT’s advanced research capabilities, particularly in the field of bioresorbable stents, Kaneka positions itself at the forefront of addressing coronary artery diseases, such as atherosclerosis, through innovative solutions. This acquisition broadens Kaneka’s product line and reinforces its commitment to leading-edge medical technology and improving patient care in cardiovascular health.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Biodegradable Stents Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Biodegradable Stents Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Arterial Remodeling Technologies SA, Arterius Ltd, B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Elixir Medical Corporation, JW Medical Systems LTD, Kaneka Corporation, KLS Martin Group, Kyoto Medical Planning Co. Ltd., Medtronic Plc, Meril Life Sciences Pvt. Ltd., Microport Scientific Corporation, OrbusNeich Medical, Q3 Medical Devices Limited., Reva Medical, SafeGuard Surgical, Inc., Smith & Nephew Plc, Stryker Corporation, Syntellix AG, Terumo Corporation, and Wright Medical Group.

Market Segmentation & Coverage

This research report categorizes the Biodegradable Stents Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
• Coronary Artery Stents
• Non-vascular Stents
• Billary Stents
• Esophageal Stents
• Peripheral Artery Stents
• Deployment
• Balloon-Expandable Stents
• Self-Expanding Stents
• Material
• Ceramic
• Metallic
• Polymeric
• Poly Lactic Acid
• Polyglycolic Acid
• Design
• Monofilament Stents
• Multifilament Stents
• Application
• Cardiovascular
• Cosmetic Surgery
• General Surgery
• Orthopedics
• End User
• Ambulatory Surgical Centers
• Cardiac Centers
• Hospitals

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year