The bioabsorbable stents market is anticipated to grow at a CAGR of 44.7% for the forecast period 2016-2022.

The bioabsorbable stents have an overwhelming demand. The unhealthy and hectic lifestyle is increasing the rate of coronary artery diseases around the globe over the last few years. The increasing base of the geriatric population and growing prevalence of obesity is adding significantly to the severity of this issue.

The bioabsorbable stents market is anticipated to grow at a CAGR of 44.7% for the forecast period of 2016-2022 due to rise in awareness about the bioabsorbable stents in the treatment of coronary ailments, rising prevalence of obesity, heart attacks and other cardiac diseases. Dominance of major players in this region is also fueling the global bioabsorbable stents market
Increasing risk of coronary & peripheral artery diseases in the elder population
The bioabsorbable stents have an overwhelming demand. The unhealthy and hectic lifestyle is increasing the rate of coronary artery diseases around the globe over the last few years. The increasing base of the geriatric population and growing prevalence of obesity is adding significantly to the severity of this issue.

Rising aging population accelerating the demand of bioabsorbable stents
According to ACS (Administration for community living), a U.S. department of health and human services, in 2014, the persons aged 65 years or above were 46.2 million. In the research it was found that 14.5% of the U.S. population, i.e., approximately one in every seven Americans is an elderly person. By 2060, it is expected that there will be approx 98 million aging persons, which is more than twice their number in 2014. People aged 65 and above were 14.5% of the population in the year 2014 and it is expected to increase up to 21.7% of the population by 2040. Rising aging population is resulting in the increased need of medical devices and patients also prefer minimally invasive therapy which is acting as a major driver for bioabsorbable stents market.
Target high risk patients are an opportunity.
Bioabsorbable stents are useful for serious diseases such as cardiovascular diseases. A bioabsorbable stent for utilization in pediatric congenital heart disease requires low profile, absorbing quickly enough to allow vessel growth, providing sufficient radial strength and expandable to a diameter 8?mm. Growth of absorbable coronary stents has enhanced the high knowledge of the present production materials and techniques such as biocorrodable metals and bioabsorbable polymers. Children with congenital heart disease will soon benefit from the current generation of bioabsorbable and biocorrodable devices and materials. Key companies are focusing on technological innovations according to the needs of doctors and patients and they are targeting serious diseases and do innovations accordingly. Hence, companies are engaged in technological innovations according to the need of the serious diseases which is acting as a huge opportunity for the firm.
Increasing opportunities in APAC region leads to increased sales of bioabsorbable stents
Asia Pacific is expected to be the fastest growing region due to rising aging population and cardiovascular diseases in the region. India and China are the emerging economies of Asia Pacific region and are expected to grow at the highest CAGR during the forecast period. It is expected to be the fastest growing region in this market due to rising technological innovations in the medical sector, large patient base in the region, increase support from government, rising per capita spending power and less competition in the region, which has created vast growth opportunities for bioabsorbable stents market in the region. Growing medical tourism in these countries is also another major reason for the growth of bioabsorbable stents in the region.


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Keywords : Chemicals, Speciality Chemicals,

by Occams Business Research (few years ago!)

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