The size of the bioabsorbable stents market in the Asia Pacific is advancing to achieve USD 1267.40 million by 2027 from USD 187.81 million in 2022, growing at a CAGR of 46.5% in the course of the forecast period.
The rise in the adoption rate of bioabsorbable stents which can naturally heal the artery and restore the moment for treating PAD and CAD diseases is fueling the growth of the Asia Pacific bioabsorbable stents market. Government and private organizations are taking initiatives to develop advanced bioabsorbable stents which are fully absorbed into the body and highly effective, this is contributing to the growth of the APAC bioabsorbable stents market. The increasing prevalence of peripheral artery and coronary artery diseases in the aging population is also boosting up the growth rate of the Asia Pacific bioabsorbable stents market.
Availability of alternatives for bioabsorbable stents such as laser ablation therapy, xenograft and others, are limiting the growth rate of the bioabsorbable stents market and are posing a significant challenge for the key players in the APAC bioabsorbable stents market.
Increasing focus on initiatives by the private and public organizations for escalating clinical trials of the bioabsorbable stents is expected to be creating more growth opportunities for the APAC market over the forecast period. A rising account of geriatric population and continuously increasing patient base are anticipated to boost the demand for bioabsorbable stents and expand growth opportunities for the stakeholders in the APAC bioabsorbable stents market. Growing expenditure for healthcare and advancing economies of the countries like China, India, Japan and others in the Asia Pacific, are expected to create lucrative opportunities for the market players in the region during the forecast period. Continuously rising rate of diseases is leading to increasing adoption rate of bioabsorbable stents owing to benefits associated with them, providing a number of opportunities for the growth of the APAC bioabsorbable stents market.
This research report on the APAC bioabsorbable Stents Market has been segmented and sub-segmented into the following categories.
By Absorption Rate:
By End User:
Regionally, China market is dominating the Asia Pacific bioabsorbable stents market. It is supposed to contribute a significant share of revenues during the forecast period owing to the factors like presence of key players in the region, and expansion of healthcare sector due to technological innovations and advancements, increasing prevalence of PAD and CAD diseases, influx of novel and innovative products into the market developed by various companies. India market segment is rapidly growing and is foreseen to continue the trend during the forecast period due to the rise in the economy of the country and the presence of a large patient base in the area.
Notable companies dominating the APAC Bioabsorbable stents market are Elixir Medical Corporation, Arterius Limited, Amaranth Medical Inc, Abbott Laboratories, Arterial Remodeling Technologies S.A, Biotronik, Kyoto Medical Planning Co Ltd., Reva Medical Inc, Tepha.Inc, SMT and Xenogenics Corporation.
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