Copyright © 2024 Research Nester. All Rights Reserved
Bioresorbable Coronary Scaffolds Market size is projected to grow at substantial growth rate during the forecast period i.e., between 2024-2036.
Growth Drivers
Prevalence of Cardio Vascular Diseases amidst Ageing Population
According to the World Health Organization, CVDs are the number 1 cause of death globally; more people die annually from CVDs than any other cause.Another WHO estimate states that between 2015 and 2020, the proportion of world’s population of people over 60years will nearly double from 12% to 22%.To reduce the mortality rates and improve the life expectancy, the production of bioresorbable coronary scaffolds will increase which is anticipated to drive the market growth.
Overweight, Obesity and Work patterns
Almost 4 Billion people on the planet live in urban areas today and their lifestyle which includes eating habits and workhours, are having a significant impact on health of the individuals, both physical and mental.Working hours and patterns are leading to mental ill-health which results in significant rise in cases of depression, stress, anxiety, eating disorders leading towards alcohol/drugs. According to World Health Organization (WHO), in 2019, 38 million children under the age of 5 were overweight or obese. The potential risk of rising CVDs in the population demography is projected to drive the bioresorbable coronary scaffolds market growth positively.
COVID’19 and its aftermath
As per the WHO,the death toll is high among COVID-19 patients who are already suffering from various other illnesses like pneumonia, coronary heart diseases and others prior to COVID’19.The treatment for the patients suffering from CVDs and later affected by COVID’19 involves the use of ventilators and bioresorbable coronary scaffolds. This results in healthcare professionals urging the governments to provide them the scaffolds for proper treatment.
Technological Advancements
The advancements in the field of developing scaffolds which are potentially bioresorbable and with superior scaffold performance are estimated to result in healthcare professionals recommending this alternative for treating CVDs.
Challenges
The potential factor associated with causing a negative impacton the growth of the market is estimated to be the high costassociated with bioresorbable coronary scaffolds. This might result in a large section of the population not being able to afford the scaffolds during treatment.
|
Base Year |
2023 |
|
Forecast Year |
2024–2036 |
|
Regional Scope |
|
The bioresorbable coronary scaffolds market is segmented by material, by product, by application, by end user and by region. On the basis of end user, the market is segmented into hospitals, medical clinics and others. The hospital segment is anticipated to hold the leading share on account of rising number of elderly patients with heart disorders. Increase in obese population and the rising prevalence of cardio vascular diseases (CVDs) globally along with the high mortality rates among the older population are some of the significant factors boosting the market growth. Based on product type, the market is segmented into drug-eluting, novolimus-eluting, everolimus-eluting and other drug introduction techniques, out of which, the highest stance is estimated to be held by drug-eluting stents. This can be attributed to the ease of operability and easy availability in the market. The market is further segmented by application into Myocardial Infraction, Vascular Bypass and other CVD operations. Among these segments, the utilization of bioresorbable coronary scaffolds in vascular bypass was the largest revenue generating segment in 2019 owing to the prevalence of CVDs and recommended SOP by the medical professionals. The availability of bioresorbable scaffolds for ailments like rheumatic heart disease and other CVDs, knee implants and other joint-related painsisestimated to boost the market growth during the forecasted period.
Our in-depth analysis of the global market includes the following segments:
|
By Material |
|
|
By Product |
|
|
Application |
|
|
End-User |
|
On the basis of regional analysis, the bioresorbable coronary scaffolds market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America industry is predicted to account for largest revenue share by 2036, driven by presence of leading players in the region which manufacture and market the bioresorbable coronary scaffolds. The prevalence of obesity among the ages 5-16 years and related illnesses leading to CVDs among in this region are further predicted to increases the product demand. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of growing aged population.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?