Europe Bioresorbable Vascular Scaffold Market Worth $103.45 Million By 2030

Europe Bioresorbable Vascular Scaffold Market Growth & Trends

The Europe bioresorbable vascular scaffold market size is expected to reach a value of USD 103.45 million by 2030. The market is anticipated to expand at a CAGR of 8.9% from 2022 to 2030. Factors such as the increasing percutaneous coronary intervention (PCI) procedures and the rising aging population are expected to drive growth. Technological advancements and the launch of devices are further fueling the growth of the industry. For instance, Meril Life Sciences, an Indian company, became the first to gain the European Conformity marking for their "MeRes100" bioresorbable scaffold or dissolvable polymer stents in August 2019.

The global COVID-19 pandemic has negatively impacted the growth of the industry. During the pandemic, government orders requiring individuals to stay inside or take precautions to decrease their exposure resulted in the postponing of elective surgeries. Total PCI operation volumes thus decreased significantly in 2020. As a result, sales of bioresorbable vascular scaffold units diminished. As upliftment in covid restrictions drives individuals to use healthcare facilities and resumption in all semi-elective to non-urgent treatments at full capacity, these revenues are anticipated to accelerate.

Besides, factors such as initiatives undertaken by market players, and government support will continue to spur growth. For instance, in January 2019, Reva Medical expanded its commercial operations to seven (Poland, Russia, Slovakia, Lithuania, the Czech Republic, Latvia, and Estonia) additional European countries through four new regional distribution partnerships. Additionally, the market expansion in Europe is mostly attributable to rising regulatory approvals, which would facilitate their commercialization, and expand opportunities for the development of bioresorbable scaffolds.

 Request a free sample copy or view report summary: Europe Bioresorbable Vascular Scaffold Market Report

Europe Bioresorbable Vascular Scaffold Market Report Highlights

• New-generation BRSs to supply thinner struts and smaller crossing profiles led to the market expansion despite initial setbacks, such as overcoming the clinical shortcomings associated with the Absorb BRS constituting a technological barrier

• Coronary artery/vascular stent held the dominant share in 2021. This is attributed to rising cardiovascular disorders in the region. According to the European Heart Network, cardiovascular disease (CVD) results in about 1.8 million fatalities in the European Union and 3.9 million deaths overall in Europe each year

• Hospitals held the dominant share of over 98.0% as of 2021. As hospitals offer superior care to patients thus witnessing lucrative growth. Hospitals are important within the overall healthcare system and the main revenue source for the entire sector, which drives segment growth

• Due to growing public awareness of PCI treatment, France held the majority of the market in 2021 with a revenue share of over 15%. The prevalence of CAD across the country also contributes to the market's expansion. One fatality occurs every four minutes in France due to cardiac artery disease, which affects 1.5 million individuals and is the leading cause of all-cause mortality

• The market scenario is changing as it is gradually fragmenting owing to the entrance of new players. For instance, in May 2021, a study of patients with comparatively simple coronary artery lesions discovered some early promise for a novel bioresorbable scaffold (Firesorb, MicroPort Medical)

Europe Bioresorbable Vascular Scaffold Market Segmentation

Grand View Research has segmented the Europe bioresorbable vascular scaffold market by application, end-use, and region:

Europe Bioresorbable Vascular Scaffold Application Outlook (Revenue, USD Million, 2017 - 2030)

• Peripheral Artery

• Coronary Artery

Europe Bioresorbable Vascular Scaffold End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals

• Others

Europe Bioresorbable Vascular Scaffold Regional Outlook (Revenue, USD Million; 2017 - 2030)

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Belgium

  • The Netherlands

  • Switzerland

  • Sweden

List of Key Players in the Europe Bioresorbable Vascular Scaffold Market

• Biotronik

• REVA Medical

• Meril Life Sciences

• Arterial Remodelling Technologies

• Elixir Medical