BIORESORBABLE VASCULAR SCAFFOLD MARKET ANALYSIS

Bioresorbable Vascular Scaffold MarketSize and Trends

The global bioresorbable vascular scaffold market size was valued at US$ 147.0 million in 2017, and is expected to exhibit a CAGR of 12.5% over the forecast period (2018 – 2026).

Figure 1. Global Bioresorbable Vascular Scaffold Market Value (US$ Mn), by Region, 2017

Increasing prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular diseases is expected to propel growth of the bioresorbable vascular scaffold market

Bioresorbable vascular scaffold is used in treatment of blockage of coronary and peripheral artery, which is related to coronary heart disease, ischemic heart disease, and other cardiovascular diseases. High prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular diseases is expected to propel demand for bioresorbable vascular scaffold, which in turn will drive the market growth. According to World Health Organization (WHO), 2015, cardiovascular diseases is the first leading cause of morbidity and mortality worldwide, with around 17.7 million representing 31% of all global deaths in 2015, out of these deaths, an estimated 6.7 million were due to stroke and 7.4 million were due to coronary heart disease.

Similarly, according to American Heart Association in 2018, 92.1 million American adults were suffering with some form of cardiovascular disease or the after-effects of stroke. Nearly 836,546 deaths in the U.S. were due to cardiovascular disease, which is about 1 of every 3 deaths. Direct and indirect costs in the treatment of cardiovascular diseases and stroke were estimated to amount to US$ 329.7 billion in 2018, which includes both health expenditures and lost productivity, in the U.S.

Furthermore, introduction of novel bioresorbable vascular scaffold, which help patients with cardiovascular diseases, is propelling growth of the bioresorbable vascular scaffolds market over the forecast period. For instance, in July 2016, Abbott received approval from the US Food and Drug Administration for Absorb GT1 bioresorbable vascular scaffold (BVS). The product fully resorbs over time and improves coronary luminal diameter in patients with ischemic heart disease due to de novo native coronary artery lesions.

Figure 2. Global Bioresorbable Vascular Scaffold Market Share (%), by Material, 2018 and 2026

Source: Coherent Market Insights Analysis (2018)