Global Non-vascular Stents Market: Snapshot
Numerous factors are proving beneficial to the global non-vascular stents market. The most prominent and obvious among them is the rising instances of chronic obstructive pulmonary disease (COPD) caused by smoking, lung cancer, tracheobronchial malacia, and exposure to harmful chemical. Other factors serving to boost the market are the increasing expenditure on healthcare in developing countries, proliferating hospitals and ambulatory surgical centers, and helpful medical reimbursement policies of governments and private insurance companies. Constant thrust on research and development to come up with better stents materials, designs, and minimally invasive stenting procedures leveraging endoscopes are also acting as tailwinds to the market.
Posing a roadblock to the global non-vascular stents market, on the other hand, is the expensiveness of the metallic stents coupled with governments and regulatory authorities, across the world, constantly revising healthcare reforms to improve quality of medical devices and bring down their costs too.
A report by Transparency Market Research predicts the global non-vascular stents market to rise a CAGR of 5.0% from 2017 to 2025 to attain a value of US$730.5 mn by 2025 from US$475.0 mn in 2016.
Colorectal and Esophagus Cancer Makes Gastroenterology Stents Dominant Segment
Based on the type of products, the global non-vascular stents market can be classified into urology stents, pulmonology stents, and gastroenterology stents. At present, the gastroenterology stents account for maximum share and going forward too, the segment is slated to hold on to its dominant share. Rising instances of colorectal and esophagus cancer, worldwide, is said to be the primary driver of the segment. In addition, emergence of technologically advanced stent designs, material composition, and novel stent deployment techniques such as endoscopic ultrasound guided (EUS) stenting procedures will also likely underpin the growth momentum of the segment.
In terms of growth rate, however, the urology stents segment is projected to take the lead in the next couple of years on the back of rising instances of kidney calculi and end-stage renal diseases, globally. A common trend of benign prostatic hyperplasia in elderly demographics is also projected to boost growth in the segment in the next couple of years. The urology stents segment is slated to register a CAGR of 6.9 % between 2017 and 2025.
Rising Healthcare Allocations in China and India Driving Maximum Growth in Asia Pacific
From a geographical standpoint, North America accounts for a leading share by dint of having a robust healthcare infrastructure, high per capita spends on healthcare, a large pool of patients afflicted with obstructive disease, and helpful medical reimbursement policies by government as well as private players. The revenue in the region is expected to be worth US$308.1 mn by 2025. The CAGR clocked is predicted to be 5.2%. Europe trails North America in terms of market share in the non-vascular stents market. Growing number of hospitals and ambulatory surgical centers and rising prevalence of obstructive disease are said to be driving growth in the region.
When it comes to growth rate, Asia Pacific is projected to outpace all others with a CAGR of 5.4% between 2017 and 2025. Powering the growth in the region are fast-expanding developing nations of China and India with increased allocations for healthcare and rising number of hospitals and day care surgery centers.
Prominent participants in the global non-vascular stents market are C. R. Bard, Inc., Boston Scientific Corporation, Cook Group Incorporated, Merit Medical Systems, Inc., Taewoong Medical Co., Ltd., Abbott Laboratories, Olympus Corporation, ELLA - CS, Medi-Globe Corporation, CONMED Corporation, M.I.TECH, and Allium Medical Solutions Ltd.
Non-vascular Stents Market: Overview
Non-vascular stents are specialized medical devices used for relieving the strictures in gastrointestinal tract, ureteral tract and airway tracts. These are also used for holding open the narrowed lumens during complex surgical procedure to allow free flow of body fluids. On the basis of its applications there are three different types of non-vascular stents are available: pulmonology stents, urology stents, and gastroenterology stents. These stents are made using different material compositions such as metallic stents are made of stainless steel, nitinol alloys, and elgiloy. Whereas non-metallic stents are made up of synthetic polymers like resins, polyurethane, silicone. Metallic stents are available fully covered, partially covered and uncovered forms. These stents are usually covered with silicone material to avoid tissue ingrowth and stent migration. Self-expanding metal stents (SEMS) and self-expanding plastic stents (SEPS) are most commonly used for relieving the luminal strictures. These non-vascular stents are used by hospitals, ambulatory surgical centers, long term palliative care centers and academic medical and research institutes.
Global Non-vascular Stents Market: Drivers and Restraints
The market for global non-vascular stents is projected to be driven by the high incidence rates of luminal strictures across the globe. Metallic stents are most commonly used for the palliation of malignant cancerous disease in & airway tract due to its high durability and radial strength. Therefore the growth of metallic stents is attributed to rising incidences of malignant cancer leading to luminal strictures in patients. The treatment of malignant cancer requires longer duration of hospital stay and diagnostics & supportive treatment, is likely to drive the growth of hospitals segment over forecast period.
Also adoption of advanced technologies for stent deployment & retrieval, increase in demand for minimally invasive surgeries patients owing to shorter procedural time and low cost in ambulatory surgical centers is projected to boost the demand for non-vascular stents market during forecast period. However, availability of alternative treatment options for relieving luminal strictures is likely to hamper the growth of non-vascular stents market. Moreover, government and regulatory authority’s pressure on reducing the cost of medical devices and presence of large number of domestic players in most of regions would be restraining factors for market. The development of biodegradable stents, drug eluting stents, and radioactive stents exhibits the new business development opportunity for non-vascular stents in near future.
Global Non-vascular Stents Market: Segmentation
The global non-vascular stents market is segmented into four broad segments on the basis of product type, by material, be end-user and on the basis of geography. The non-vascular stents, by product type are segmented into pulmonology stents, urology stents, and gastroenterology stents. Gastroenterology stents are subdivided into two segments enteral stents and biliary & pancreatic stents. The market for urology stents is projected to witness exponential growth rate during forecast period owing to growing number of population affected with kidney stone disease worldwide. By material, global non-vascular stents is segmented in metallic stents and non-metallic stents. Non-metallic stents are most commonly used for the treatment of benign strictures as it requires shorter duration of treatment time, easy to maneuver and low cost. The end-user for non-vascular stents includes hospitals, Ambulatory surgical centers and others such as palliative care centers, academic medical institutions and research organizations. The market for ambulatory surgical centers is anticipated to grow at highest growth rate and is projected to gain its market share by the end of 2025.
Geographically, the global non-vascular stents market has been segmented into five regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. These regions have been further segmented by countries, product type, by material and End-user segments. The competition matrix section included in the report is likely to assist the existing players to increase their market shares and new companies to establish their presence in the global non-vascular stents market.
Global Non-vascular Stents Market: Competitive Analysis
The report also profiles major players in the market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Major companies competing in the non-vascular stents market, and profiled in the report include Boston Scientific Corporation, C. R. Bard, Inc., Taewoong Medical Co., Ltd., Cook Group Incorporated, Abbott Laboratories, Olympus Corporation, Merit Medical Systems, Inc., ELLA - CS, s.r.o., Medi-Globe Corporation, M.I.TECH, Allium Medical Solutions Ltd., CONMED Corporation.
The global non-vascular stents market has been segmented as follows:
Global Non-vascular Stents Market, by Product Type
- Pulmonology Stents
- Urology Stents
- Gastroenterology Stents
- Enteral Stents
- Biliary and Pancreatic Stents
Global Non-vascular Stents Market, by Material
- Metallic Stents
- Non-metallic Stents
Global Non-vascular Stents Market, by End-User
- Ambulatory Surgical Centers
Global Non-vascular Stents Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa