Europe Bioresorbable Vascular Scaffold Market (By Application: Peripheral Artery, Coronary Artery; By End Use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The Europe bioresorbable vascular scaffold market was estimated at USD 46.11 million in 2021 and it is expected to surpass around USD 103.64 million by 2030, poised to grow at a CAGR of 9.42% from 2022 to 2030.

Report Highlights

• The coronary artery/vascular stent segment held the dominant revenue share of over 96.05% as of 2021.
• The hospitals held the dominant revenue share of over 98.2% as of 2021.
• France dominated the market in 2021 with a revenue share of over 15.13%.

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.

Scope of The Report

Application Insights

The coronary artery/vascular stent segment held the dominant revenue share of over 96.05% as of 2021. The treatment of coronary and peripheral artery blockage, which is connected to coronary heart disease, ischemic heart disease, and other cardiovascular disorders, uses a bioresorbable vascular scaffold. Demand for the bioresorbable vascular scaffold is anticipated to increase because to the high prevalence of coronary heart disease, ischemic heart disease, and other cardiovascular illnesses, which will ultimately fuel industry expansion.

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 (EU). 37% of all deaths in the EU and 45% of all deaths in Europe are attributed to CVD. On the other hand, Peripheral artery/vascular stents are expected to grow at a CAGR of %. Reva Medical announced in August 2018 that its Motiv bioresorbable scaffold had received CE mark clearance for the treatment of below-the-knee peripheral artery disease. Motiv is the first drug-eluting bioresorbable scaffold.

End-use Insights

The hospitals held the dominant revenue share of over 98.2% as of 2021. Hospitals are important within the overall healthcare system and the main revenue source for the entire sector, which drives research and innovation. Thus, corporations are making significant efforts, both in terms of revenue & marketing strategies, to endorse their product/services in hospitals. As hospitals offer superior care to patients thus witnessing lucrative growth.

The growing elderly population necessitates the need for frequent access to healthcare services since as people age, their immune systems deteriorate and they become more susceptible to various illnesses and disorders, which increases the need for hospitals. The region's well-developed healthcare infrastructure, which includes hospital beds, equipment, and increased government funding, is anticipated to hasten the growth of the hospitals.

The others are inclusive of CAD & PAD centers and ambulatory surgery centers. Ambulatory surgery center offers a convenient substitute to hospitals with the same quality of care at a lower cost to individuals. The increase in outpatient admissions can also be attributed to the growing acceptance of technologically advanced techniques in centers, rendering treatment cost-effective and speedier. Innovative surgical methods in such settings allow tests and procedures to be performed without hospital admission. This is expected to support the growth of the segment.

Country Insights

France dominated the market in 2021 with a revenue share of over 15.13% owing to the raising awareness of next-generation technologies in PCI treatment. Terumo Corporation announced in March 2014 that it has reached an agreement with Arterial Remodeling Technologies S.A., a French firm producing bioresorbable scaffold technology, regarding exclusive acquisition rights for the treatment of coronary artery disease. In addition, the two businesses will collaborate on the development of a drug-eluting bioresorbable scaffold, with Terumo continuing to invest in Arterial Remodeling Technologies' R&D. Such agreements are anticipated to impact the country's growth.

Belgium is anticipated to grow significantly over the forecast period. Bioresorbable vascular scaffolds (BVS) have become a viable alternative in recent years. The FOUNDATION FOR RESEARCH AND TECHNOLOGY HELPS (FORTH)-led InSilc project has started development on an in silico clinical trial platform with assistance from specialists from Greece, Belgium, Ireland, Italy, Netherlands, Serbia, U.K., and the U.S. To evaluate, quantify, and monitor the scaffold's performance, a "virtual" drug-eluting BVS is to "virtual" patients. Consequently, the aforementioned elements contribute to the country's growth.

Key Players

• Biotronik
• REVA Medical
• Meril Life Sciences
• Arterial Remodelling Technologies
• Elixir Medical 

Market Segmentation

• By Application Outlook
• Peripheral Artery
• Coronary Artery
• By End-use Outlook
• Hospitals
• Others
• By Regional Outlook
• Europe

• U.K.
• Germany
• France
• Italy
• Spain
• Belgium
• The Netherlands
• Switzerland
• Sweden