Bioabsorbable stents are generally made of a naturally dissolvable material, which is used in medical implants and polylactic acid. The advantages of inserting stents into the veins are they disappear, and it eliminates the cause of inflammation which can lead to restenosis. Once the stents dissolve after 2-3 years it could be able to restore the vessel to a natural state of vasoconstriction and vasodilation. On a whole there are 15 bioabsorbable stents programs are under progress, including five in highly developed stages and two of them received European CE approval.
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Drivers and Restraints:
The factors driving the market are there is an increase in the artery disease and heart attack and major death reason is Cardiovascular problems as given by WHO reports, and is expected to grow at a huge percentage i.e., 23 million individuals. Abbott has leaded the major development in these stents market and it has a clinical experience of 13 thousand patients around the world. The major drawbacks of using these stents are its thickness that may cause maneuverability and they not crimp on delivery balloons.
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Based on geography the bioabsorbable stents market can be segmented as North America, Asia Pacific, Latin America and the Middle East and Africa. Currently, North America occupies the major market share of the global market, Major Company which is trend setting the market is Abbott Laboratories from the United States. It initiated ABSORB III clinical trial it includes about 2250 patients. In 2014 Elixir Medical received European CE mark approval. In developing countries like India and China due to the increase in disease-affected population, the market is showing a considerable rise in the past few years and looking forward to increasing furthermore in the coming years.
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Some of the major players in the global market of bioabsorbable stents are Elixir Medical Corporation, Arteries Limited, Amaranth Medical Inc, Abbott Laboratories, Arterial Remodeling Technologies S.A, Biotronik, Kyoto Medical Planning Co Ltd., Reva Medical Inc, and Tepha.Inc, SMT, Xenogenics Corporation
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