Bioresorbable Vascular Scaffold Market A Scaffolding Revolution: The Soaring Bioresorbable Vascular Scaffold Market

Bioresorbable Vascular Scaffold Market worth $300.21 Mn by 2031 - Exclusive Report by InsightAce Analytic Pvt. Ltd.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Bioresorbable Vascular Scaffold Market- (By Product Type (Enviroximes-eluting Device, Novalis's-eluting Device, Sirolimus-eluting Device. Others), By Disease Type (Coronary Artery Disease, Peripheral Artery Disease), By Material Type (Poly-L-Lactic Acid (PLLA), Tyrosine-derived Polycarbonate, Others), By End-user (Hospital, Ambulatory Surgical Center, Cardiac Catheterization Lab, Others)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Bioresorbable Vascular Scaffold Market is valued at US$ 160.72 Mn in 2022, and it is expected to reach US$ 300.21 Mn by 2031, with a CAGR of 7.3% during a forecast period of 2024-2031.

Bioresorbable scaffolds (BRSs) aim to lessen the events related to permanent metallic stents. BRSs allow for complete resorption after use and provide temporary mechanical support. Some authors claim that the BRS concept's foundation is that eliminating metallic caging will result in luminal expansion and complete vasomotion restoration. The global increase in the prevalence of cardiovascular diseases (CVD) is one of the main factors driving the market for bioresorbable scaffolds. The demand for bioresorbable vascular scaffolds is projected to grow as risk factors such as diabetes, obesity, and an ageing population become more prevalent.

Furthermore, technical advancements in bioresorbable vascular scaffolds (BVS) and a robust product pipeline are expected to propel market expansion throughout the estimated period. By leveraging absorbable materials with more robust mechanical qualities to create smaller struts and lower crossing profiles, new-generation BRSs transcend the constraints of pre-BRS technology and achieve more comprehensive applications.

The European bioresorbable vascular scaffold market grew during the projected year thanks to new technological advancements, including next-generation BRSs with improved results.

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List of Prominent Players in the Bioresorbable Vascular Scaffold Market:
• BIOTRONIK Group of Companies
• Meryl Life Sciences Pvt. Ltd.
• Kyoto Medical Planning Co., Ltd.
• Elixir Medical
• Zorin Medical

Market Dynamics:
Drivers-
Global bioresorbable vascular scaffold market growth is anticipated to be fueled by an increase in the incidences of cardiovascular diseases and a rise in demand for less invasive therapies. Additionally, the market demand for bioresorbable vascular scaffolds is projected to be driven by growth in healthcare spending and increased awareness of the advantages of BVS over traditional metallic stents.

Global bioresorbable vascular scaffold market growth is anticipated to be fueled by an increase in the prevalence of cardiovascular diseases and a tremendous rise in demand for less invasive therapies. Additionally, the market demand for bioresorbable vascular scaffolds is projected to be driven by growth in healthcare spending and increased awareness of the advantages of BVS over traditional metallic stents.

Challenges:
The bioresorbable vascular scaffold market has faced challenges in product development and market competition. Some manufacturers have faced setbacks, including product withdrawals or discontinuations due to clinical concerns. This has affected the overall market dynamics and may have caused hesitation among healthcare providers regarding adopting BVS.

The cost of BVS can be higher than that of metallic stents, which may impact its adoption, especially in healthcare systems with budget constraints. Additionally, reimbursement policies and coverage decisions vary across regions and insurance providers. Limited reimbursement or uncertainty in reimbursement coverage can pose challenges to the widespread adoption of BVS.

Regional Trends:
The North American bioresorbable vascular scaffold market is expected to register a major market share. North America's bioresorbable vascular scaffold market is projected to be driven by a sophisticated healthcare infrastructure, increased patient knowledge of minimally invasive treatments, and high disposable income.

Besides, Europe had a substantial share of the market. Europe has been a hub for clinical trials and research related to BVS technologies. European clinical trials have played a pivotal role in evaluating the safety and efficacy of various BVS platforms. The outcomes of these trials have shaped the regulatory landscape and clinical guidelines for BVS use in Europe.

Recent Developments:
• In Mar 2021- Bioresorbable scaffold (BRS) MeRes100 was introduced in the nation by Meril Life Sciences following domestic research and development.MeRes100 was the initial 100 micron thin-strut BRS designed to treat coronary artery disease patients.

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Segmentation of Bioresorbable Vascular Scaffold Market-

By Product Type
• Enviroximes-eluting Device
• Novalis's-eluting Device
• Sirolimus-eluting Device
• Others
By Disease Type
• Coronary Artery Disease
• Peripheral Artery Disease
By Material Type
• Poly-L-Lactic Acid (PLLA)
• Tyrosine-derived Polycarbonate
• Others
By End-user
• Hospital
• Ambulatory Surgical Center
• Cardiac Catheterization Lab
• Others
By Region-
North America-
● The US
● Canada
● Mexico
Europe-
● Germany
● The UK
● France
● Italy
● Spain
● Rest of Europe
Asia-Pacific-
● China
● Japan
● India
● South Korea
● South East Asia
● Rest of Asia Pacific
Latin America-
● Brazil
● Argentina
● Rest of Latin America
Middle East & Africa-
● GCC Countries
● South Africa
● Rest of Middle East and Africa

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