South Korea Drug-Eluting Bioabsorbable Stents Market was valued at USD 0.2 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 10.1% from 2024 to 2030.
The South Korea Drug-Eluting Bioabsorbable Stents Market is seeing a significant increase in demand due to various factors ranging from the need for advanced medical devices to the rise in cardiovascular diseases. These stents are engineered to dissolve over time, leaving behind only natural tissue, which is a major advantage over traditional metal stents. The technology ensures that patients do not need to undergo a second surgery for stent removal, reducing long-term complications and enhancing overall recovery.
Industries across the medical and healthcare sectors are rapidly adopting drug-eluting bioabsorbable stents, as they offer several benefits, including lower chances of restenosis (re-narrowing of the artery) and reduced long-term complications. Furthermore, these stents are expected to drastically improve the quality of life for patients, as they promote better healing and natural vascular function post-procedure.
The South Korean market specifically is showing a growing interest in bioabsorbable stents. This is due to the country's rapidly aging population and the increasing prevalence of coronary artery diseases. Cardiologists and medical professionals in South Korea are prioritizing these advanced stents, as they offer more effective treatments and align with the broader healthcare goals of reducing long-term treatment costs and minimizing post-surgical complications.
In addition to the healthcare industry's demands, regulatory bodies in South Korea have played a significant role in the growth of the Drug-Eluting Bioabsorbable Stents Market. Their strict regulations on safety and efficacy have forced manufacturers to continually innovate and create highly effective solutions. As a result, the country is quickly becoming a key player in the bioabsorbable stent manufacturing process, with a strong potential for future export growth.
Looking ahead, it is expected that South Korea's drug-eluting bioabsorbable stent market will continue to flourish as more hospitals and healthcare providers adopt these technologies. Demand is anticipated to rise, driven by the continuous advancements in stent design and their increasing affordability. As cardiovascular diseases remain a global concern, the importance of these next-generation stents will only grow, making South Korea a central hub for their production and development.
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Medtronic
B.Braun Melsungen
Abbott Laboratories
Boston Scientific Corporation
Biosensors International
Terumo Corporation.
MicroPort Scientific Corporation
Alvimedica
Biotronik
Elixir Medical Corporation
Innovative Health Technologies
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Drug-Eluting Bioabsorbable Stents Market
Polymer-based Stents
Metal-based Stents
Hybrid Stents
Drug-Eluting Mechanism
Bioabsorbable Mechanism
Self-Expanding Stents
Balloon-Expandable Stents
Coronary Artery Disease
Peripheral Artery Disease
Carotid Artery Disease
Hospitals
Ambulatory Surgical Centers
Cardiology Clinics
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Drug-Eluting Bioabsorbable Stents Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Drug-Eluting Bioabsorbable Stents Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Drug-Eluting Bioabsorbable Stents Market, By Type
6. South Korea Drug-Eluting Bioabsorbable Stents Market, By Application
7. South Korea Drug-Eluting Bioabsorbable Stents Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Drug-Eluting Bioabsorbable Stents Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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