Summary- A new market study, titled “Global OTC Consumer Health Products Market Insights and Forecast to 2026” Market Overview
OTC Consumer Health Products are naturally dissolving scaffolds used in the treatment of coronary artery disease (CAD). These are the latest development in stent technology made up of metal and coated with a polymer containing anti-proliferative drugs such as Sirolimus or Everolimus. These OTC Consumer Health Products disintegrated in the human body. Hence, these stents remove the post-treatment operations and prevents the inflammation leading to thrombosis and stent restenosis. OTC Consumer Health Products are inserted by percutaneous transluminal coronary angioplasty and commonly preferred over the permanent implants owing to need anticoagulation treatment for a long time and reduce host/device interaction.
Global OTC Consumer Health Products market is expanding at robust CAGR due to increasing geriatric population. The major driving factors are rise in incidences of cardiac disorders such as peripheral and coronary artery diseases and increase in the prevalence of obesity. Moreover, various pipeline products, technological advancements for new products, rise in demand for biocompatible and safe coronary stents, and degradation time for the stents might boost the growth of OTC Consumer Health Products market in the forecast period. However, stringent regulatory guidelines, slow adoption of stents in the disease management, lack of reimbursement policies, and the alternative treatment for the coronary artery diseases will hinder the growth of global OTC Consumer Health Products market in the forecast period.
The OTC Consumer Health Products market is segmented based on the material type, product type, area of application, and end-user
Based on the product type, OTC Consumer Health Products market has been segmented into the following:
Based on the material type, OTC Consumer Health Products market has been segmented into the following:
Metal based BVS
Polymer based BVS
Based on the application, OTC Consumer Health Products market has been segmented into the following:
Coronary artery stents
Peripheral artery stents
Based on the end-user, OTC Consumer Health Products market has been segmented into the following:
Ambulatory surgical centers
The global OTC Consumer Health Products market is in the nascent stage, rise in R&D is expected to offer novel products to global OTC Consumer Health Products market. Various competitors are actively involved in the development of OTC Consumer Health Products for increasing their market revenue. For instance, under ‘Medtronic CardioVascular Bioabsorbable’ program Medtronic Inc. is focusing to develop completely bioabsorbable scaffolds for superficial femoral arteries. The global OTC Consumer Health Products market is anticipated to grow at a tremendous rate due to increase in technological innovations in the forecasting period. Launching of new products, approvals from various regulatory bodies, collaborations are might boosting the growth of global OTC Consumer Health Products market. For instance, in August 2015, Abbott Vascular received CE mark approval for bioabsorbable vascular scaffold with catheter delivery system. Similarly, in January 2013, FDA granted approval for Xience Xpedition manufactured by Abbott Vascular, Inc. and the company launched the product in U.S. Further studies for the development of bioabsorbable coronary scaffold would bring a couple of new products to the market improve the growth of global OTC Consumer Health Products market over the forecast period. Even though technological and clinical development of bioabsorbable vascular stents is not yet complete and possible clinical benefits over metallic stents are still unrevealed, there are no solid reasons that can limit the clinical use of bioabsorbable vascular scaffolds.
Geographically, global OTC Consumer Health Products market has been segmented into following regions Viz. Europe, North America, Asia-Pacific, Latin America, and Middle East & Africa. North America region is expected to hold the largest share in the global OTC Consumer Health Products market owing to technological advancements, increased awareness regarding the treatment of coronary disorders in bioabsorbable vascular stents, and products available in the pipeline help in the growth of global OTC Consumer Health Products market. Europe region is expected to hold a significant growth attributed to increase in geriatric population, change in lifestyle, increase in healthcare infrastructure, and technological advancements in Europe countries such as Germany, UK, and France might fuel the growth of global OTC Consumer Health Products market. However, Asia-Pacific witness a significant growth rate in OTC Consumer Health Products market owing to Increase in awareness about peripheral and coronary artery diseases, rise in the prevalence of artery diseases in Asia Pacific region, favourable government policies, and low cost for the stents in Asia Pacific countries such as India bolster the market over the forecast timeframe. Furthermore, diversification of business segment by the competitors in Asia Pacific region due to increase in medical tourism also fuel the bioabsorbable vascular scaffolds. Latin America and the Middle East and Africa has a lucrative growth in OTC Consumer Health Products market attributed to increase in initiatives by the private and public sectors and entry of new products into the market.
Some of the players in global OTC Consumer Health Products market are Medtronic (U.S.), Abbott Laboratories (U.S), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), Biotronik SE & Co. KG (Germany), C.R. Bard Inc. (U.S.), Stentys SA (France), Svelte Medical Systems, Inc. (U.S.), and REVA Medical, Inc. (U.S.), to name a few
In April 2017, REVA Medical’s Fantom sirolimus-eluting bioresorbable scaffold received CE mark
In July 2016, FDA has approved the Absorb GT Bioresorbable Vascular Scaffold (BVS) System manufactured by Abbott Vascular, Inc
In January 2016, Svelte Medical announced the European launch of low profile drug-eluting stent resulting in smaller delivery catheter and easier implantation
The report provides granular level information about the market size, regional market share and forecast from 2017-2026
The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
The report tracks recent innovations, key developments and startup’s details that are working in the industry
The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
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