Gastrointestinal Stents Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3338
Gastrointestinal Stents Market is projected to experience significant growth from 2019 to 2025.
Gastrointestinal stents market will witness significant growth owing to rising incidence of gastrointestinal cancers across the globe. Gerontology diseases affect the elderly population, with a few eminent gastrointestinal disorders such as bowel diseases, diverticulosis, gastrointestinal malignancies as well as other urinary and fecal related problems. Moreover, lifestyle changes such as increase in unhealthy diet and physical inactivity leads to rise in blood glucose, blood pressure, lipids and obesity. The morbidity and mortality rate from chronic diseases such as colorectal cancer, esophageal cancer, rectal cancer, and other gastrointestinal-related critical diseases will lead to a significant market growth over the forecast period.
Technological advancements in GI stents that offer high degree of flexibility and kink resistance leads to increasing demand for self-expanding metal stents. The evolution of GI stents and remarkable improvements in stent design allow endoscopists to drive the use of gastroenterological stents in new directions. Additionally, inclination of people towards use of GI stents for treatment of various gastrointestinal diseases due to certain benefits that it offers over conventional products such as lesser blood loss, reduced chances of infection, shorter hospital stay, quick recovery and overall reduction in healthcare costs will boost the demand for GI stents.
Increasing adoption of minimally invasive procedures for treatment of gastrointestinal diseases will propel the industry growth. However, government regulations for stents and complications linked with the use of gastrointestinal stents are major factors that can restrain the market development over the forecast period.
Biliary stents segment accounted for the largest revenue share of gastrointestinal stents market in 2018. Biliary stents enable treatment of obstructions that occur in the bile duct. Currently, use of palliative therapy by placing biliary stents has emerged as one of the most successful options for treatment of life-threatening benign cholangiocarcinoma (bile duct cancer). The increasing incidence of bile duct cancer worldwide is the key factor driving segment growth.
Biliary disease segment dominated the gastrointestinal stents market, based on applications, in 2018, owing to the increased prevalence of various gastrointestinal diseases in ageing population. Rising incidence of biliary diseases such as cholangiocarcinoma, primary biliary cholangitis and gallstone disease are on the rise globally, that will drive the segment growth. Many of the industry players have biliary stents as one of the prime products, that is used for palliative treatment of various biliary diseases.
Most of the patients who are primarily treated with endoscopic balloon dilation show recurrence of the structure within one year. These patients are further treated with self-expanding metal stents, thereby driving market growth. Moreover, use of self-expandable metal stents (SEMS) for treatment of anastomotic leaks and perforations leads to significant potential in the market.
Hospitals segment accounted for the maximum market share in 2018 and will continue to grow significantly in the forthcoming years. U.S. dominated the global market in 2018 and accounted for the largest revenue share. Increasing demand for minimally invasive surgeries, fair reimbursement policies and high rate of GI cancer cases diagnosed are some of the major factors resulting in larger revenue share. Furthermore, technological advancements and increasing healthcare expenditure will further boost industry growth over the forecast period. Moreover, hospitals perform minimally invasive enteral surgeries such as the colonic stenting, biliary stenting, esophageal stenting, pancreatic stenting and duodenal stenting procedures that will boost market growth over the forecast period.
U.S. dominated the global market in 2018 and accounted for the largest revenue share. Increasing demand for minimally invasive surgeries, fair reimbursement policies and high rate of GI cancer cases diagnosed are some of the major factors resulting in larger revenue share. Furthermore, technological advancements and increasing healthcare expenditure will further boost industry growth over the forecast period.
China is expected to grow at a faster rate during the forthcoming years owing to high population coupled with rising incidence of various GI cancers such as stomach cancer and bile duct cancer. Additionally, the medical tourism industry is booming owing to availability of advanced medical treatments at a lower cost. Increasing patient base, favorable regulations, new product launches, and adoption of technological advanced devices will boost the market growth.
Some of the industry players include Boston Scientific, Cook Group, Bard, ELLA-CS, Becton Dickinson, Merit Medical Endotek, ConMed, Cantel Medical, Olympus, Taewoong Medical, Micro-Tech, Endo-Flex, MI Tech, Medtronic and Diagmed Healthcare. The industry players focus on strategic partnerships, mergers and collaborations as well as innovative product launches to expand their business product portfolio as main strategies. The market dynamics provides a platform to industry players to explore the high-growth areas and serve the unmet needs across different regions.
Gastrointestinal Stents Market, by Product, 2014-2025 (USD Million)
- Biliary Stents
- Duodenal Stents
- Colonic Stents
- Pancreatic Stents
- Esophageal Stents
Gastrointestinal Stents Market, by Application, 2014-2025 (USD Million)
- Biliary Disease
- Colorectal Cancer
- Stomach Cancer
- Esophageal Cancer
- Inflammatory Bowel Disease
Gastrointestinal Stents Market, by Material, 2014-2025 (USD Million)
- Metal Stents
- Plastic Stents
Gastrointestinal Stents Market, by End-use, 2014-2025 (USD Million)
- Ambulatory Surgical Centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Boston Scientific
- Cook Group
- Becton Dickinson
- Merit Medical Endotek
- Taewoong Medical
- MI Tech
- Diagmed Healthcare
- S & G Biotech
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