The bioabsorbable stent market comprises of a fewer number of players. Prominent players in the bioabsorbable stent market include Abbott (U.S.), Elixir Medical Corporation (U.S.), Kyoto Medical Co. LTD. (Japan), Reva Medical Inc. (U.S.), Arterial Remodeling Technologies (France), Tepha Inc. (U.S.), Meril Life Sciences Pvt. Ltd. (India) among others.
Companies are focusing on various organic and inorganic growth strategies such as new product launches, agreements, partnerships & collaborations, and investments. New product launches & approvals accounted for the largest share of the overall growth strategies mapped from 2014 to 2016. Various other products were launched during this period. For instance, in May 2015, Abbott received CE mark approval for Absorb GT1, which is the world’s first fully bioresorbable stent system. This approval helped the company to market this product in Europe, thus expanding its customer base.
Key players that adopted this strategy include Elixir Medical Corporation (U.S.), and Arterial Remodeling Technologies (France).