Bioresorbable Scaffolds Market Size, Status and Forecast 2027 key players

Posted by vinit sawant on April 30th, 2021

Global Bioresorbable Scaffolds Market - overview

Bioresorbable scaffolds are the medical devices used during surgeries of coronary artery disease. These scaffolds are introduced recently and allow successful acute revascularization of coronary artery stenosis. The main advantage of the bioresorbable scaffolds is inclusive of complete bioresorption, leaving no foreign body. Increasing prevalence of cardiovascular disease and diabetes are the major drivers of for the market growth during the forecast period. According to WHO in 2014, cardiovascular diseases were the major cause of deaths, globally.

Additionally, rapid development in the devices used for the cardiovascular surgeries, rising demand for bioresorbable scaffolds, adoption of desk-bound lifestyle, and government support for the research and development of better medical devices have fuelled the market growth. However, availability of alternative therapies and high cost of the bioresorbable scaffolds are estimated to restrain the market growth during the forecast period.

The Global Bioresorbable Scaffolds Market share is growing with the rapid pace. According to a recent study report published by the Market Research Future, the Global Bioresorbable Scaffolds Market is booming and expected to gain prominence over the forecast period and is projected to grow a sound pace. The market is projected to demonstrate a sound growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017-2027).

Global Bioresorbable Scaffolds Market - competitive analysis

Characterized by the presence of several well-established and small players, the global market of bioresorbable scaffolds appears to be highly competitive and fragmented. International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.  The Market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

In April-2016, Abbott entered into a definitive agreement with St. Jude Medical Inc. which led to its acquisition. This created a premier medical device leader with top positions in high-growth cardiovascular markets, including atrial fibrillation, structural heart and heart failure as well as a leading position in the high-growth neuromodulation market. Under the agreement, St. Jude Medical shareholders received USD 46.75 in cash and 0.8708 shares of Abbott common stock, representing total consideration of approximately USD 85 per share. At an Abbott stock price of USd 43.93, this represented a total transaction equity value of USD 25 billion.