Global Bioabsorbable Vascular Scaffolds Market: By Product Type (Biological, Biosynthetic), By Material Type (Metal based BVS, Polymer based BVS), By Application (Coronary Artery Stents, Peripheral Artery Stents), By End-User (Hospitals, Cardiac Centres, Ambulatory Surgical Centres) and By Geography  

Bioabsorbable Vascular Scaffolds Market size is expected to reach USD 300.24 million by 2029, at a CAGR of 13.9%  during the forecast period 2023-29. Bioabsorbable vascular scaffolds are naturally dissolving scaffolds used in the treatment of coronary artery disease (CAD). These are the latest development in stent technology made up of metal and coated with a polymer containing anti-proliferative drugs such as Sirolimus or Everolimus. These Bioabsorbable vascular scaffolds disintegrated in the human body. Hence, these stents remove the post-treatment operations and prevents the inflammation leading to thrombosis and stent restenosis. Bioabsorbable vascular scaffolds are inserted by percutaneous transluminal coronary angioplasty and commonly preferred over the permanent implants owing to need anticoagulation treatment for a long time and reduce host/device interaction. Global bioabsorbable vascular scaffolds market is expanding at robust CAGR due to increasing geriatric population. The major driving factors are rise in incidences of cardiac disorders such as peripheral and coronary artery diseases and increase in the prevalence of obesity. Moreover, various pipeline products, technological advancements for new products, rise in demand for biocompatible and safe coronary stents, and degradation time for the stents might boost the growth of bioabsorbable vascular scaffolds market in the forecast period. However, stringent regulatory guidelines, slow adoption of stents in the disease management, lack of reimbursement policies, and the alternative treatment for the coronary artery diseases will hinder the growth of global bioabsorbable vascular scaffolds market in the forecast period. Even though technological and clinical development of bioabsorbable vascular stents is not yet complete and possible clinical benefits over metallic stents are still unrevealed, there are no solid reasons that can limit the clinical use of bioabsorbable vascular scaffolds.

Bioabsorbable Vascular Scaffolds Market Key Developments: 

• In April 2017, REVA Medicals Fantom sirolimus-eluting bioresorbable scaffold received CE mark.
• In July 2016, FDA has approved the Absorb GT Bioresorbable Vascular Scaffold (BVS) System manufactured by Abbott Vascular, Inc.
• In January 2016, Svelte Medical announced the European launch of low profile drug-eluting stent resulting in smaller delivery catheter and easier implantation