Biodegradable Stents Market By Stent Type, By Material Type, By End-user, By Region - Global Market Analysis & Forecast, 2024 to 2032

Market Overview

The biodegradable stents market encompasses the development, production, and sales of absorbable stents that are used to treat cardiovascular and other artery-related diseases. Unlike traditional metal stents that remain in the body indefinitely, biodegradable stents are designed to dissolve or be absorbed within the body over time, reducing the risk of long-term complications such as stent thrombosis. These stents are primarily made from biodegradable polymers and metals that ensure they maintain structural integrity long enough to treat the disease effectively before they degrade safely and harmlessly. Biodegradable stents are increasingly preferred in interventions like angioplasty because they offer temporary support to blood vessels until they can remain open on their own. Once their task is completed, these stents degrade, thereby eliminating the need for additional surgery to remove the stent and reducing the patient's exposure to chronic foreign bodies. This technology is particularly significant in the treatment of coronary artery diseases, peripheral artery diseases, and in pediatric patients where vessel growth is still expected. The use of biodegradable materials is also being explored in other areas such as the urinary tract, gastrointestinal tract, and airways. The global biodegradable stents market is projected to grow at a compound annual growth rate (CAGR) of 7.5%. This robust growth is driven by the rising prevalence of coronary and peripheral artery diseases globally, coupled with an aging population that is more susceptible to such health issues. Advances in biomedical engineering that improve the performance and safety of these stents further encourage their adoption. Additionally, growing patient and physician preference for minimally invasive procedures that require less recovery time and carry lower risk of complications is also contributing to the expansion of this market.

Rising Incidence of Coronary Artery Diseases Drives Market Growth

A key driver for the biodegradable stents market is the increasing global incidence of coronary artery diseases (CAD), which are primarily caused by the buildup of cholesterol-laden plaques in the coronary arteries. As lifestyle-related risks such as obesity, diabetes, and sedentary habits become more prevalent worldwide, the number of individuals suffering from CAD rises significantly. This increasing patient population necessitates effective, minimally invasive solutions for managing CAD, bolstering demand for biodegradable stents. These devices are seen as an advantageous alternative to permanent metallic stents, as they reduce long-term complications and eliminate the need for future surgical interventions related to stent removal.

Technological Innovations Present Market Opportunities

The biodegradable stents market is poised for expansion through technological innovations that enhance stent functionality and patient safety. Current research and development efforts are focused on improving the materials used in biodegradable stents to optimize their absorption rates and mechanical properties. Innovations such as drug-eluting biodegradable stents, which slowly release medication to prevent the artery from closing again, represent significant opportunities. These advancements promise to increase the efficacy of stents in complex and high-risk lesions, which can extend their applicability and appeal in the broader vascular treatment landscape.

High Cost of Biodegradable Stents Restrains Market Growth

Despite their benefits, a major restraint for the biodegradable stents market is the high cost associated with their development and implementation. Biodegradable stents are typically more expensive than their metallic counterparts due to the sophisticated materials and manufacturing processes required. This cost factor can be prohibitive for widespread adoption, particularly in developing countries where healthcare spending is limited and there is a greater sensitivity to the price of medical devices.

Regulatory Hurdles Challenge Market Progress

Navigating the regulatory landscape poses a significant challenge in the biodegradable stents market. Regulatory approvals for medical devices, particularly those that are implantable and biodegradable, can be stringent and time-consuming. Each country's health authority has its own set of requirements and processes for the approval of new medical devices, which can vary widely and complicate the path to market entry. For biodegradable stents, demonstrating safety and efficacy through clinical trials to the satisfaction of regulatory bodies is especially critical but also burdensome. Delays in approvals can impede market access and affect the overall adoption rate of new technologies within this sector.

Market Segmentation by Stent Type

Coronary artery stents account for the highest revenue within the market, driven by the high prevalence of coronary artery diseases globally. These stents are primarily utilized in angioplasty procedures to treat narrowed or blocked coronary arteries, a common condition as populations age and lifestyle diseases such as diabetes and obesity increase. Conversely, peripheral artery stents are anticipated to exhibit the highest CAGR. This growth is attributed to the rising awareness and improving diagnostic technologies for peripheral artery diseases, which often go undiagnosed until they become severe, combined with an expanding range of applications for peripheral stenting in areas like the legs, arms, and renal arteries.

Market Segmentation by Material Type

Polymer-based stents currently generate the highest revenue due to their favorable properties, such as flexibility and a lower inflammatory response, which are critical for patient recovery and comfort. These stents are designed to degrade at a controlled rate, matching the healing process of the vessel tissue. Metal-based stents, while less commonly used currently, are expected to experience the highest CAGR. Innovations in biodegradable metal alloys, such as magnesium, which provide structural support similar to traditional stents but with the advantage of degrading into non-toxic elements absorbed or excreted by the body, are driving interest and potential growth in this segment.

Market Segmentation by Region

In the biodegradable stents market, geographic trends indicate that North America held the highest revenue percentage in 2023, driven by advanced healthcare infrastructure, high healthcare expenditure, and an established regulatory framework that supports the adoption of new medical technologies. Additionally, the presence of a large patient base suffering from cardiovascular diseases and the availability of cutting-edge medical technologies further strengthen the region's dominance. However, the Asia-Pacific region is expected to register the highest CAGR from 2024 to 2032. This anticipated growth is fueled by increasing healthcare expenditure, rising awareness of cardiovascular diseases, and improving healthcare facilities in emerging economies such as China and India. The expansion of healthcare coverage and the growing middle-class population in these countries are also expected to boost demand for advanced medical solutions, including biodegradable stents.

Competitive Trends

Competitive trends in the market are shaped by strategic initiatives undertaken by key players such as Boston Scientific, Inc., Abbott, Elixir Medical Corporation, KYOTO MEDICAL PLANNING Co., Ltd., Biotronik, Terumo Corporation, Biosensors International Group, ELLA - CS, s.r.o., and SMT. In 2023, these companies focused on expanding their product portfolios, enhancing technological advancements, and entering new markets. Significant investments were made in research and development to innovate and improve the efficacy and safety of biodegradable stents. From 2024 to 2032, these players are expected to continue leveraging technological advancements to develop stents that offer better patient outcomes and longer degradation times. Strategic partnerships, mergers, and acquisitions are anticipated to be key strategies to expand their global footprint and enhance market share. Additionally, these companies are likely to increase their focus on emerging markets, where the demand for minimally invasive surgeries is growing rapidly, driving further expansion and competition in the global market.