Biliary Stents Market size is set to exceed USD 449 million by 2028, according to a new research report by Global Market Insights Inc.
Global biliary stents industry is anticipated to witness a healthy growth over the forecast period. The increasing number of ERCP and PTC procedures for the detection and treatment of various gastrointestinal disorders is driving the market growth, with a significant increase in the volume of stenting procedures requiring insertion and removal of biliary stents. The increasing number of pancreatic cancer cases coupled with the rising prevalence of gallstones are some of the prominent factors contributing to the steady demand for biliary stents.
Rising prevalence of liver cancer and chronic biliary diseases across the globe are anticipated to boost the overall industry outlook
Increasing alcohol consumption and smoking are largely studied to increase the risk of developing bile duct cancers. Further, in most cases alcohol abuse is a common cause of liver cirrhosis that increases the risk of developing liver cancer. For instance, according to the American Cancer Society, annually, more than 800,000 people are diagnosed with liver cancer and 700,000 deaths are registered globally. This has led to increase in the product adoption of biliary stents for the treatment, thereby augmenting the market size.
High risk and complications associated with biliary stents may hamper the market growth
The main risk factor associated with the biliary stents is tumor ingrowth. The blocking of stents is caused due to the cancer ingrowth through the stent. However, the stent blockage may also cause microbial colony buildup or biofilm formation due to accumulation of obstructing material. This may lead to the replacement of the existing stent through ERCP or an intensive surgical procedure for stent removal. In some cases, the incorporated stents can move out of the place and that may lead to recurrent stenting procedure. Some other possible severe complications associated with the biliary stenting is the risk of getting a hole in the duodenum during or after the stent placement. This may lead to bleeding or cause an infection and create other serious complications. The aforementioned factors pose risks related to biliary stenting procedures and can potentially hinder the overall market growth in the coming years.
Enhanced patency and benefits associated with metal stents is expected to spur the segmental expansion
Biliary stent market is segment into metal stents and polymer stents. The metal stent segment accounted for more than USD 205 million in 2021 and is estimated to dominate the market throughout the forecast timeframe. The metal segment is expected to register lucrative growth owing to its better patency as compared to its polymer counterparts. The self-expandable metal stents possess post-expansion diameter ranging from 6-10mm that is nearly three times more than that of plastic stents.
Browse key industry insights spread across 139 pages with 171 market data tables & 16 figures & charts from the report, “Biliary Stents Market Forecasts By Type (Metal Stents, Polymer Stents), Application (Bilio-pancreatic Leakages, Pancreatic Cancer, Benign Biliary Strictures, Gallstones), End-use (Hospitals, Speciality Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028” in detail along with the table of contents:
Increasing prevalence of pancreatic cancer due to alcohol abuse and consumption of tobacco will positively impact the segmental size
Based on application, the biliary stents market is classified into bilio-pancreatic leakages, pancreatic cancer, benign biliary strictures, gallstones, and others. Pancreatic cancer segment accounted for the nearly 28% market share in 2021. Increasing prevalence of pancreatic cancer due to alcohol abuse and consumption of tobacco has led to increase in the number of pancreatic cancer cases across the globe. For instance, according to American Institute for Cancer Research, pancreatic cancer is 12th most common cancer in men and 11th in women worldwide. As the growth of cancer cells leads to inflammation of the pancreas, blocking the bile duct, thereby increasing the demand for biliary stents.
Longstanding preference towards hospital settings is anticipated to surge the segmental demand
Based on the end-use, the market is bifurcated into hospitals, speciality clinics, ambulatory surgical centers and others. Hospital segment is expected to register around 5% CAGR between 2022 and 2028. Increasing segmental growth is attributed to increasing populations diagnosed with biliary disorders and a rising patient pool directed towards stenting procedures. As the healthcare infrastructure in numerous developing countries still considers hospitals as the primary source of receiving optimum care, the segment is expected to dominate throughout the forecast period.
Rising awareness of biliary disorders diagnosis and treatment will spur the Europe biliary stents market statistics
Europe biliary stents market accounted for USD 103.1 million in 2021 and is anticipated to show lucrative growth over the forecast period. Growing awareness and increasing healthcare expenditure, significant technological advancements, and availability of multiple biliary stent products across the countries of Europe further drive to regional industry outlook. Furthermore, increasing number of hospitals and ambulatory surgical centers equipped with advance technology diagnostics will be a major factor for the market expansion.
Companies generated different growth strategies to strengthen their business portfolio and revenue
The well-established players operating in the biliary stents industry include B. Braun Melsungen AG, Cook Medical Inc., Olympus Corporation, CONMED Corporation, M.I. Tech, Becton, Dickinson and Company, ENDO-FLEX GmbH, Cardinal Health, Merit Medical Systems, Inc., Medtronic plc, Boston Scientific, among others. These players focus on strategies such as innovative product development expansion, approvals, collaboration acquisitions & mergers and to gain more revenue and sustain competition in the biliary stents segment.
In June 2020, Cook Medical Inc. launched Biliary Biopsy Forceps Set (BBFS) and Zilver 635 biliary stent (ZIB) for biliary procedures in the U.S. The product launch added value to the company’s existing product portfolio in the country. It is expected to expand the company’s customer base while strengthening its product visibility.