Global Bioresorbable Vascular Scaffold Revenue Is Nearly 127 M USD In 2016
Friday, 09 Nov, 2018
Rising prevalence of chronic diseases coupled with the rapidly aging population worldwide is set to increase the demand for stent implants. According to WHO report, the population of people above 65 years was around 524 million in 2010, which is expected to grow to 1.5 billion by 2050; this would be 16% of the total world population. It is estimated that 27% of the Japanese, 16% of the U.S., 24% of the U.K., 17% of the Russian, and 14% of Chinese population will be above 65 years of age by 2020.
In the last several years, global market of bioresorbable vascular scaffold developed rapidly, with an average growth rate of 13%. In 2016, global revenue of bioresorbable vascular scaffold is nearly 127 M USD; the actual consumption is about 75 K units.
The global average price of bioresorbable vascular scaffold is in the decreasing trend, from 1832 USD/Unit in 2012 to 1686 USD/Unit in 2016.
The classification of bioresorbable vascular scaffold includes metal BVS and polymer BVS, and the proportion of polymer BVS in 2016 is about 90%, and the only Biotronik supplies resorbable magnesium scaffold recently.
Europe is the largest consumption place, with a consumption market share nearly 71% in 2016. Following Europe, Asia Pacific is the second largest consumption place with the consumption market share of 16%. Only Abbott got the FDA approval in 2016.
Market competition is intense. Abbott, Kyoto Medical, Biotronik, Elixir Medical the leaders of the industry, and they hold key technologies and patents, with high-end customers; have been formed in the monopoly position in the industry.