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Global Bioabsorbable Stents Market to Generate a Revenue of USD 592.1 Million by 2030, Owing to the Growing Cases of Cardiovascular Diseases (CVDs) Worldwide and the Rising Need to Treat These Chronic Diseases

Key Companies Covered in the Bioabsorbable Stents Market Research Report Are Abbott, Elixir Medical Corporation, BIOTRONIK SE & Co KG, Arterius Limited, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd., OrbusNeich Medical Company Limited, Lepu Medical Technology (Beijing) Co., Ltd., and other key market players.

New York, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The World Health Organization (WHO), in one of its statistics, stated that cardiovascular diseases (CVDs), which are known to be the leading cause of deaths around the globe, represented 32% or 17.9 Million deaths of the total number of deaths caused in the year 2019. The statistics further stated that heart attack and stroke were known to cause 85% of the deaths of the total deaths caused due to CVDs. On the other hand, in other statistics by the WHO, since the year 1975, obesity had known to be grown three-fold. Additionally, in the year 2020, 39 Million children below the age of 5 were obese or overweight.

Research Nester has recently released a report on “Bioabsorbable Stents Market: Global Demand Analysis & Opportunity Outlook 2020-2030”, which is studied for the forecast period, i.e., 2021-2030, and includes a detailed insight of the major market players, along with their market strategies to remain ahead in the competition. Additionally, the report also includes details on the impact of COVID-19, coupled with several other key market growth indicators.

The prevalence of cardiovascular diseases is growing at a significant pace across the earth. Several chronic CVDs are also known to be the leading causes of death. According to the Global Health Observatory statistics of the WHO, ischaemic heart disease, stroke, and chronic obstructive pulmonary disease were the top 3 leading causes of death in the year 2019. The total number of deaths due to these diseases grew from 6756 Thousand, 5464 Thousand, and 2986 Thousand respectively in the year 2000 to 8885 Thousand, 6194 Thousand, and 3228 Thousand respectively in the year 2019. Bioabsorbable stents, which is a device to clear the blocked arteries, are used widely by surgeons for different cardiovascular surgeries. Owing to the rising prevalence of CVDs worldwide, the demand for these stents is expected to increase, and in turn, drive the growth of the global bioabsorbable stents market. The market, which registered a revenue of USD 284.3 Million in the year 2020, is further projected to touch USD 592.1 Million by the end of 2030, by growing with a CAGR of 7.67% during the forecast period.

The market is also expected to grow on account of the growing expenditure of health worldwide, and for the rising aging population, who are at high risk of having CVDs. According to the statistics by the World Bank, the current health expenditure per capita (in current US$) touched USD 1111.082 in the year 2018, up from USD 999.104 in the year 2015. On the other hand, according to the statistics by the United Nations, the number of persons aged 65 years or over reached 702.9 Million in the year 2019, and is expected to touch U1548.9 Million by the end of 2050.