Rapidly increasing incidence as well as prevalence of the cardiovascular diseases in developed as well as developing world expected to be the major driving factor in the bio-engineered stent market. Increasing early diagnosis rate of CVD through scheduled body checkup subsequently increases treatment seeking rate which in turn expected to drive the growth of the Bio-Engineered Stent Market. Array of different treatment options available further increases patient compliance in safety and efficacy of treatment for CVD which in turn expected to drive the growth of bio-engineered stent market.
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The superiority of bio-engineered stent in promoting natural healing process further expected to enhance the revenue generation of bio-engineered stent market. Increasing number of clinical trials followed by launch of various bio-engineered stent by regional as well as global players expected to fuel the growth of the bio-engineered stent market. Increasing number of skilled professional healthcare professionals as well as telemedicine expected to drive the growth of bio-engineered stent market. Whereas, limited product penetration across different regions may limit the potential growth of the bio-engineered stent market.
Worldwide incidence of the cardiovascular diseases are on rise and comparatively early diagnosis of the disease makes it treatable. Stent are tube made of plastic or metal which is inserted into the lumen of blood vessel to remove blockade. Various conditions such as acute coronary syndrome (ACS) requires surgical intervention but with bio-engineered stent, it is possible to operate such conditions without surgical intervention or without percutaneous coronary intervention (PCI). The bio-engineered stent are also called as antibody coated stent, antibodies on the surface of the bio-engineered stent promotes natural healing process of artery by attracting circulating endothelial progenitor cells (EPCs) which helps in formation of healthy endothelium (inner cell lining of artery). By attracting EPCs at the site of stent bio-engineered stent reduces the risk of thrombosis (blood clotting). The cardiovascular disease (CVD) affects large number of population worldwide. In European countries only 23% of deaths due to CVD occur before age 70 years whereas in India it is 52%, which represents significant economic, years of life lost due to CVD as well as disability-adjusted life year (DALY) which in turn represents significant revenue generation opportunity in market.
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The global bio-engineered stent market is expected to grow significantly attributing to superior efficacy of bio-engineered stent and increasing prevalence of cardiovascular diseases. By material type, bio-engineered stent market is expected to be dominated by cobalt alloy due to higher preference by healthcare professionals. By indication, market is expected to be dominated by coronary heart disease due to higher number of procedures. By end user, hospitals expected to be most lucrative segment in bio-engineered stent market due to higher patient footfall for the treatment.
The global bio-engineered stent market is expected to be dominated by the North America due to higher number of interventional procedure carried out in the region. Europe is expected to be second most lucrative market due to higher patient preference of natural healing process induced by bio-engineered stent. Latin America market is expected to experience steady growth due to gradually increasing number of procedures in the region. Asia-Pacific bio-engineered stent market is regarded as emerging market due to increasing product penetration in the region. Middle East & Africa market is expected to be least lucrative market due to least availability of product as well as lack of skilled healthcare professionals.
The key market players operating in the bio-engineered stent market are: ORBUSNEICH MEDICAL, Abbott, Medronic plc. And Others.
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