Bioresorbable Vascular Scaffold Market Report
Bioresorbable Vascular Scaffold Market by Product Type (Everolimus-eluting Device, Novolimus-eluting Device, Sirolimus-eluting Device, and Others), Disease Type (Coronary Artery Disease and Peripheral Artery Disease), Material Type (Poly-L-Lactic Acid (PLLA), Tyrosine-derived Polycarbonate, and Others), End-Users (Hospital, Ambulatory Surgical Center, Cardiac Catheterization Lab, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Bioresorbable Vascular Scaffold Overview
The global industry that produces, distributes, and sells medical devices known as bioresorbable scaffolds is referred to as the bioresorbable vascular scaffold market. Bioresorbable scaffolds are cutting-edge medical devices created to support injured blood vessels or coronary arteries temporarily and speed up the healing process. Instead of requiring long-term implants like metal stents, these scaffolds are often comprised of biocompatible materials that gradually disintegrate or are absorbed by the body over time. The market for bioresorbable scaffolds includes a wide range of participants, including producers of medical equipment, healthcare organizations, academic institutions, and regulatory agencies. The increased need for minimally invasive procedures, technological improvements, and the potential advantages of bioresorbable scaffolds in decreasing long-term issues linked to conventional stents are driving forces behind this burgeoning industry.
Global Bioresorbable vascular scaffold market Analysis
The global bioresorbable vascular scaffold market size was $164.4 million in 2022 and is predicted to grow at a CAGR of 8.1%, generating a revenue of $347.4 million by 2032.
COVID-19 Impact on Global Bioresorbable vascular scaffold market
The COVID-19 pandemic has had a major effect on a number of global industries, particularly the healthcare industry. The industry for bioresorbable scaffolds is one of the many sectors that were significantly impacted by the pandemic. Medical devices known as bioresorbable scaffolds are utilized in cardiovascular treatments, such as the treatment of coronary artery disease. Elective surgeries and non-emergency treatments were postponed or discontinued during the early stages of the pandemic in order to give COVID-19 patients priority with regard to resources. As a result, there were fewer cardiovascular treatments, which in turn caused a drop in the need for bioresorbable scaffolds. Non-urgent treatments were postponed as hospitals and healthcare facilities concentrated on handling the flood of COVID-19 cases.
On the other hand, there have been technological developments due to the ongoing research and development in the field of bioresorbable scaffolds. In the aftermath of the pandemic, these changes could spur market expansion. In conclusion, the COVID-19 pandemic had a significant effect on the market for bioresorbable scaffolds, resulting in a brief fall in demand and disruptions in the supply chain. The market is anticipated to revive, driven by the restart of elective surgeries and improvements in product offers, as healthcare systems recover and adapt.
Rising Prevalence of Cardiovascular Diseases to Drive Market Growth
One of the key growth factors for the bioresorbable scaffold market is the rising prevalence of cardiovascular diseases (CVDs). About 17.3 million fatalities per year, or 31% of all deaths worldwide, are caused by CVDs. Due to an ageing population that is on the rise and shifting lifestyle preferences, this figure is anticipated to rise in the upcoming years.
The market is also being driven by technical developments and rising R&D expenditure by industry leaders. For instance, Abbott Vascular declared in January 2017 that their Absorb GT1 Bioresorbable Vascular Scaffold (BVS) has been granted CE Mark clearance. A novel option for treating individuals with coronary artery disease (CAD) is provided by this product. The third major factor is an increase in demand from developing nations like China and India as more patients and healthcare professionals are becoming aware of the advantages of bioresorbable scaffolds over metallic stents.
The expanding elderly population, rising prevalence of obesity and diabetes mellitus, and increased desire for less invasive procedures are further factors anticipated to fuel market expansion.
Technological Difficulties in Developing Bioresorbable Scaffolds to Restrain Market Growth
The market for bioresorbable scaffolds has experienced rapid expansion in recent years due to the potential advantages they may have in the treatment of coronary artery disease. These scaffolds offer benefits like lowering the likelihood of long-term issues related to permanent metallic stents because they are made to gradually disintegrate and be absorbed by the body over time. Although the market for bioresorbable scaffolds has a bright future, there are a number of barriers that prevent their mainstream adoption. The technological difficulties involved in creating these scaffolds are one of the main difficulties. It takes substantial research and development to strike the ideal balance between mechanical strength, rate of degradation, and biocompatibility, which raises production costs. Because of this, bioresorbable scaffolds are generally more expensive than conventional metallic stents, which may prevent their use in healthcare settings or areas with limited budgets. Bioresorbable scaffolds' clinical results have come under question. Compared to metallic stents, certain studies have found a higher likelihood of negative outcomes like scaffold thrombosis. Healthcare providers and regulatory agencies have become more circumspect as a result of these worries, which will limit the market's potential for expansion.
A fundamental roadblock continues to be the absence of long-term data on the security and effectiveness of bioresorbable scaffolds. Since the technology is still quite new, extensive clinical research is needed to determine its advantages and identify any potential drawbacks. Doctors might be hesitant to use these devices broadly in their practices until there is more solid proof that they are superior to metallic stents in terms of long-term outcomes.
Advancements in Technology to Drive Excellent Opportunities
Technology breakthroughs in the field of bioresorbable scaffolds have significantly changed the landscape of cardiovascular disease treatments. The new medical technology known as bioresorbable scaffolds, often referred to as bioresorbable vascular scaffolds (BVS), is made to support damaged coronary arteries temporarily before gradually dissolving in the body to leave a repaired channel without the need for long-term metal implantation. Due to their ability to reduce long-term problems such in-stent restenosis and late stent thrombosis, these scaffolds have become a prospective replacement for conventional metallic stents. The development of the building materials for bioresorbable scaffolds is one of the significant technological advances in this field. The main component of early BVS was polylactic acid, but continuous research has resulted in the creation of newer and more sophisticated bioresorbable materials, including copolymers of poly-l-lactic acid (PLLA) and polyglycolic acid (PGA). Better mechanical qualities of these materials guarantee improved scaffold performance and bio-resorption rates, which improve clinical outcomes predictability. The deployment of bioresorbable scaffolds has been precisely guided by improvements in imaging technologies. Optical coherence tomography (OCT) and intravascular ultrasound (IVUS), two intravascular imaging techniques, enable real-time visualization of scaffold deployment and subsequent vessel healing process monitoring. This degree of accuracy guarantees ideal scaffold coverage and apposition, significantly enhancing therapeutic outcomes. Clinical trials that are still under progress and investigations of bioresorbable scaffolds in real-world settings are giving us important information about their efficacy and safety. The gadget design and patient selection criteria have been improved thanks to this research, ensuring the technology's wider acceptance and use in clinical practice.
Global Bioresorbable vascular scaffold market Share, by Product Type, 2022
The sirolimus-eluting device sub-segment accounted for the highest market share in 2022. The market for scaffolds includes a sizable number of sirolimus-eluting devices. Scaffolds are biological tools that assist and direct the development of new tissues in tissue engineering and regenerative medicine. They function as ad hoc scaffolds that promote cell adhesion, migration, and proliferation, ultimately resulting in the development of functional tissues. A powerful immunosuppressive and anti-proliferative medication frequently used in the field of organ transplantation is sirolimus, also known as rapamycin. Sirolimus-eluting devices are scaffolds that have been coated or impregnated with sirolimus to offer localized, controlled drug release. Sirolimus inclusion in scaffolds has a number of benefits. By suppressing the immune system, it aids in lowering the inflammatory response and preventing rejection reactions. Secondly, it has been demonstrated that sirolimus prevents smooth muscle cells from proliferating, which is essential for avoiding restenosis (re-narrowing of blood arteries) following procedures like angioplasty or stent insertion. Cardiovascular treatments, orthopedics, and tissue engineering are just a few of the medical applications served by the sirolimus-eluting device section of the scaffolds market. Sirolimus-eluting scaffolds are used in cardiovascular procedures to treat coronary artery disease by encouraging revascularization and inhibiting restenosis. They are employed in orthopedics to regenerate and mend bones. Sirolimus-eluting scaffolds are also used in tissue engineering techniques for organ regeneration and repair.
Global Bioresorbable vascular scaffold market Share, by Disease Type, 2022
The coronary artery disease sub-segment accounted for the highest market share in 2022. In the bioresorbable vascular scaffold market, the coronary artery disease segment has remained a dominant force for a long time now. A prevalent ailment known as coronary artery disease (CAD) is characterized by the narrowing or obstruction of the coronary arteries, which carry blood to the heart muscle. Heart attacks and other cardiovascular problems are primarily brought on by it. Growing demand for cutting-edge CAD treatments in recent years has sparked the creation of ground-breaking bioresorbable scaffolding industry solutions.
Small mesh-like devices called scaffolds, commonly referred to as stents, are inserted into the coronary arteries to strengthen their structure and maintain their openness. Typically, biodegradable polymers or metallic alloys are used to create these scaffolds. They are made to give damaged arteries mechanical assistance and stop the recurrence of blockages. Several factors influence the coronary artery disease section of the scaffolds market. First off, there is a critical need for efficient treatment alternatives due to the rising prevalence of CAD in the world.
The prevalence of risk factors including obesity and diabetes is increasing as the population ages and the incidence of CAD is rising. Due to this, there is a higher need for bioresorbable scaffolds that can maintain vascular patency over the long term and enhance patient outcomes. The market for scaffolds is significantly influenced by the segment dealing with coronary artery disease. This market has grown as a result of the expanding use of minimally invasive procedures, technological developments in scaffold design, and rising CAD prevalence. The market for scaffolds is growing as research and development continue to fuel innovation in CAD therapy.
Global Bioresorbable vascular scaffold market Share, by Material Type, 2022
The poly-l-lactic acid (PLLA) sub-segment accounted for the highest market share in 2022 and has shown rapid expansion in the last few years. Its strong mechanical and biocompatibility characteristics make PLLA, a biodegradable polymer, a viable material for scaffold applications in tissue engineering and regenerative medicine. These scaffolds may be created to resemble the extracellular matrix naturally found in the body, promoting cell adhesion, proliferation, and differentiation. Over time, PLLA scaffolds gradually deteriorate, facilitating the fusion of newly formed tissue with the environment. The variable degradation rate of PLLA scaffolds is one of its main benefits. By changing the polymer's molecular weight and crystallinity, scientists can vary the rates of degradation. Because of their adaptability, bioresorbable scaffolds can be specifically designed for purposes including bone regeneration, cartilage repair, and wound healing.
The rising incidence of chronic illnesses and injuries, as well as the growing interest in regenerative medicine techniques, have fueled the demand for PLLA scaffolds. Additionally, PLLA is an appealing substitute for synthetic polymers or metallic implants due to its biocompatibility and biodegradability, which lowers the risk of problems and eliminates the need for additional procedures.
Global Bioresorbable vascular scaffold market Share, by End-Users, 2022.
The hospital sub-segment accounted for the highest market share in 2022. The market for bioresorbable scaffolds depends heavily on the hospital sector. Bioresorbable scaffolds are three-dimensional objects that give cells support and direction when they regenerate and repair tissue. Scaffolds are widely utilized in hospitals for many different medical operations, such as organ transplantation, wound healing, and tissue engineering.
The topic of regenerative medicine is one of the main uses of bioresorbable scaffolds in hospitals. Regenerative medicine uses a combination of cells, biomaterials, and growth factors to repair or replace damaged tissues or organs. Bioresorbable scaffolds serve as a support structure for cell attachment and growth, enabling the regeneration of useful tissues. For instance, bioresorbable scaffolds can be used in organ transplantation to support the development of donor cells or tissues prior to transplantation, thus improving the success of the process. The demand for these biomaterials in different medical applications is primarily driven by the hospital sector, which is essential to the bioresorbable scaffolds industry. Hospital tissue engineering, wound healing, and regenerative medicine all stand to benefit greatly from the usage of bioresorbable scaffolds, which also provides novel patient care options and enhances general health outcomes.
Global Bioresorbable vascular scaffold market Share, by Region, 2022
The North America bioresorbable vascular scaffold market accounted for the highest market share in 2022. The rise in the use of bioresorbable materials in orthopaedic, cardiovascular, and neurological operations is thought to be the cause of the expansion. Additionally, rising R&D expenditures by public and private businesses are anticipated to support regional growth during the projection period. As healthcare costs rise and patient knowledge of new surgical treatments arising from trauma cases or traffic accidents among other factors rises, North America is expected to have profitable growth during the forecast period. During the projected period, this will encourage surgeons to use bioresorbable materials, fuelling regional demand.
Competitive Scenario in the Global Bioresorbable vascular scaffold market
Investment and agreement are common strategies followed by major market players. Some of the bioresorbable scaffolds leading market players are Kyoto Medical Planning Co., Ltd., BIOTRONIK Group of Companies., REVA Medical, Elixir Medical, Arterius, Meril Life Sciences Pvt. Ltd., S3V Vascular Technologies, Zorion Medical, Medtronic (development phase), C. R. Bard, Inc. C. R. Bard, Inc.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Type
Segmentation by Disease Type
Segmentation by Material Type
Segmentation by End User
Key Companies Profiled
Q1. What is the size of the global bioresorbable vascular scaffold market?
A. The size of the global bioresorbable vascular scaffold market was over $164.4 million in 2022 and is projected to reach $347.4 million by 2032.
Q2. Which are the major companies in the bioresorbable vascular scaffold market?
A. Medtronic (development phase), and C. R. Bard, Inc. are some of the key players in the global bioresorbable vascular scaffold market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The North America region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more in R&D practices?
A. Kyoto Medical Planning Co., Ltd., BIOTRONIK Group of Companies., REVA Medical, are investing more in R&D practices.