27 July 2015 | Features | By BioSpectrum Bureau
Global bioabsorbable scaffolds market to rocket beyond $2 bn by 2021
(Photo Courtesy: www.healthcare.globaldata.com)
The global market value for bioabsorbable scaffolds (BAS) will expand rapidly from $143.7 million in 2014 to just under $2.1 billion by 2021, driven primarily by new product approvals and a paradigm shift in the clinical treatment of vascular diseases towards minimally-invasive procedures, according to research and consulting firm GlobalData.
Mr Amen Sanghera, GlobalData's analyst covering medical devices, says that while BAS devices have yet to gain regulatory approval in the US, China and Japan, there are already four CE-Marked BAS devices approved in the five European countries (5EU).
Mr Sanghera comments: "Abbott Vascular is the primary player in this market with its drug-eluting BAS, Absorb BVS, which is available across the 5EU and in selected Latin-American and Asian countries. The product is expected to gain USFDA approval by 2016.
"Abbott Vascular recently gained the CE Mark for a package incorporating both Absorb BVS and the company's state-of-the-art catheter delivery system, the GlideTrack. This package is expected to increase the uptake of the Absorb BVS system, as it addresses clinical concerns surrounding the delivery of its device to occluded coronary vessels."
With sufficient improvements, it is anticipated that BAS could begin to challenge drug-eluting stents as the gold standard of coronary and peripheral artery disease stenting, as BAS devices aim to directly confront the current issues with permanent metallic stents, such as late in-stent restenosis, vessel scarring and late stent thrombosis.
Mr Sanghera continues: "Technological trends in the market are aimed at reducing the thickness of BAS and providing better delivery systems, more efficient drug-elution characteristics, and faster resorption times.
"As long-term clinical data demonstrating their efficacy become available, the uptake of BAS will gradually increase across the 10MM. The expanding presence of BAS products, along with a reduction in their prices, will drive substantial growth during the forecast period," the analyst concludes.