Airway/Lung Stent Market
Airway/Lung Stent Market (Product- Self-expandable, Balloon-expandable, Non-expandable; End User- Hospitals, Ambulatory Surgery Centers, Other End Users; Material Type- Metal, Silicone, Hybrid) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026
Press Release :
Airway/lung stents are being used largely for the treatment of airway/lung diseases. Moreover, healthcare providers are adopting bronchoscopy as the procedure in the placement of stents during the treatment. Airway/lung stents are facing various challenges in form of complications such as stent infection, migration, and granulation tissue. Hence, companies are adopting new technologies such as biodegradable stents, drug-eluting airway stents and 3D printing to offer a better product.
According to a study by Transparency Market Research (TMR), the global market for airway/lung stents is likely to experience steady growth, increasing to 5.7% CAGR during 2017-2026. The global market for airway/lung stent is also estimated to bring in US$ 130.4 million revenue by 2026 end.
Self-expandable Airway/Lung Stent to Emerge as the Top-Selling Product
Among various airway/lung stent products, self-expandable stents are likely to emerge as one of the top-selling products between 2017 and 2026. Self-expandable airway/lung stent is estimated to reach around US$ 100 million revenue towards 2026 end. The self-expandable stents are easy to remove, decreases the possibility of various complications. Moreover, increasing number intervention pulmonologists are adopting self-expandable stents. Self-expandable metallic stents are being used on a large scale as they are easy to place, and there is no need to use general anesthetics.
Hospitals to Account for Maximum Revenue Share
Compared to Ambulatory surgery centers, hospitals are likely to account for more than half of the revenue share by the end of 2017. Increasing number of surgeries and bronchoscopy procedures are being carried in hospitals. The government in different countries is also offering reimbursement and insurance for treatments, this is also leading to the increasing number of people going to hospitals for treatment of critical diseases.
Metal to Emerge as the Most Preferred Material for Airway/Lung Stents
Metal is likely to emerge as one of the most preferred materials for airway/lung stents. By the end of 2026, metal airway/lung stent is estimated to bring in close to US$ 100 million revenue. Metal stents are gaining popularity due to the ease of insertion. These stents can also be placed in an outpatient setting with the help of flexible bronchoscopy using local anesthesia. Owing to the thin walls, metal stents are beneficial in managing malignant tracheobronchial obstruction. Moreover, most of the metal stents are radio-opaque and are offer a great degree of expandability.
North America to be the Largest Region in the Global Market for Airway/Lung Stent
North America is likely to be one of the largest regions in terms of revenue in the global market for airway/lung stent. Well-developed healthcare system and infrastructure, increasing cases of lung cancer, and development of new technically advanced products are some of the factors driving the airway/lung stent market in North America. Meanwhile, APEJ is also likely to witness growth in the coming years, owing to the rapid development in the healthcare industry, increasing investment by government and the private sector in the healthcare sector. Moreover, expansion of hospitals and clinics, the presence of favorable regulatory environment, and availability of low cost of labor for manufacturing in countries like India and China are factors driving the market in APEJ.
Zeus Industrial Products Inc., Compagnie de Saint-Gobain SA (Saint Gobain Performance Plastics), W. L. Gore & Associates, Inc., Mexichem S.A.B. de C.V., Honeywell International, Inc., The Chemours Company, Daikin Industries Ltd., Asahi Glass Co. Ltd., 3M Company, E.I. Dupont DE Nemours & Company, and Solvay SA, are the prominent players in the global market for airway/lung stent.
Extensive Growth in Cases of Respiratory Health Issues Boosts Demand Opportunities in Airway/Lung Stent Market
Airway/lung stent refers to a tube-shaped device that is placed in the damaged airway of an individual. The key aim of placing airway or lung stunt is to ensure the proper functioning of patient’s lungs. Airway/lung stents are extensively used in the treatment of several diseases related to airway/lung. In recent period, healthcare providers are growing use of bronchoscopy during the airway/lung stent placement procedure. Silicone, metal, and hybrid materials are used for the manufacturing of airway/lung stent.
In recent few years, there is remarkable growth in the older population in all worldwide locations. Apart from this, the healthcare sector is experiencing towering instances of asthma, chronic obstructive pulmonary disease (COPD), acute respiratory infections, and lung cancer. This aside, the number of populace addicted to tobacco smoking are growing at rapid pace. Owing to all these factors, the vendors working in the global airway/lung stent market are expected to gather lucrative avenues in the forthcoming years.
Major vendors operating in the global airway/lung stent market are growing focus toward increasing investment in research and development activities. The main motive of this strategy is to develop highly advanced airway/lung stunts. Apart from this, many airway/lung stent manufacturers are engaging in merger and acquisition activities. These tactics are helping enterprises to maintain their leading position in the global airway/lung stent market.
The recent COVID-19 epidemic has resulted in to a worldwide healthcare crisis. This scenario has caused a shift in healthcare services delivery in majority of nations across the globe. The hospital authorities have halted many non-essential procedures and in-hospital therapies. These service providers are concentrating toward offering emergency healthcare for COVID-19 patients. Thus, drop in number of surgeries in all worldwide locations is impacting adversely on the sales of the global airway/lung stent market.
Global Airway/Lung Stent Market- Overview
High prevalence of tobacco smoking, the rapid rise in aging population and increasing incidence of lung cancer are major factors driving the demand for airway/lung stent. Although primary and metastatic lung cancer is treated with the help of airway/lung stent, various new treatments for lung diseases and the lack of skilled professionals are acting as restraints in the airway/lung stent market. Airway stent therapy is being used by hospitals, especially in the case of lung cancer diagnosed at a later stage in order to open the airway blocked by a tumor.
Manufacturers are constantly focusing on the product development, this has resulted in the development of technologically advanced stents. Moreover, the government in developing countries are also focusing on offering supportive reimbursement policies and insurance schemes. Despite the various challenges in the market such as stringent regulations in approval for lung stent, companies are using innovative technologies to develop advanced stents, for instance, patient-specific stents are being made for respiratory tract support.
Global Airway/Lung Stent Market- Research Methodology
The report on the global airway/lung stent market offers detailed analysis and forecast on various segments and regions. The report used both top-down and bottom-up approaches to estimate the revenue and size of the global airway/lung stent market. the report provides detail on various trends, drivers, business opportunities, and factors hampering market growth. The primary and secondary research was also done in order to identify opportunities in the market and gather information on all the major factors in the airway/lung stent market. The researchers also did interviews and analyzed all the information and opinions offered by the primary respondents. Meanwhile, validation of the information obtained through secondary resources was also crosschecked with various available data sources.
The study comprises SWOT analysis, market attractiveness analysis, and Porter’s five force analysis. The research also offers impact analysis of the weighted average model based on growth drivers. The study includes estimated revenue, market share, value and volume, year-on-year growth, and CAGR. Incremental opportunity in the global airway/lung stent market is also provided as it is considered an important factor in analyzing business opportunities for leading players.
The information on the leading players in the global airway/lung stent market is also provided. The financial overview, key business strategies, new product launches by the companies are also given in the report for each company.
Global Airway/Lung Stent Market- Market Segmentation
The global airway/lung stent market is segmented on the basis of product, end user, material type, and region. On the basis of product, the market is divided into self-expandable, balloon-expandable, and non-expandable. In terms of the end user, the market is segmented into ambulatory surgery centers, hospitals, and other end users. On the basis of material type, the market includes metal, silicone, and hybrid.
Region-wise, the global airway/lung stent market is segmented into the Asia Pacific Excluding Japan (APEJ), Europe, Latin America, North America, Japan, and the Middle East and Africa (MEA). The report offers a country-wise forecast for each segment based on all the major parameters in the global airway/lung stent market.
A study on the global airway/lung stent market includes information on the leading players in the market such as E.I. Dupont DE Nemours & Company, Asahi Glass Co. Ltd., Solvay SA, 3M Company, Daikin Industries Ltd., Honeywell International, Inc., The Chemours Company, Mexichem S.A.B. de C.V., Compagnie de Saint-Gobain SA (Saint Gobain Performance Plastics), W. L. Gore & Associates, Inc., and Zeus Industrial Products Inc.