Global Pancreatic and Biliary Stents Market: Snapshot
Endoscopic stenting has shown a large therapeutic potential in the management of a range of pancreatico-biliary diseases. This also includes treatment of bilio-pancreatic leakages and prevention of post- endoscopic retrograde cholangiopancreatography (ERCP) pancreatitis. The endoscopic stenting market has drawn strength from continuous advances in therapeutic endoscopy, especially with respect to the device design and insertion techniques. Several technological advancements in pancreatic and biliary stents have enabled clinicians in providing lumen-to-lumen anchoring and reduce bilio-pancreatic leakages. Lumen-apposing metal stents have thus gathered steam for managing benign as well as malignant conditions in the pancreatic and biliary stents market.
The use of pancreatic and biliary stents as interventional treatment in pancreatic cancer is relatively new development in the market. Stridently, the paradigm of palliative stent therapy is fast evolving. In this regard, self-expanding metal stents are implanted for almost all palliative care. Growing population of patients with chronic pancreatitis are good candidates of pancreatic ductal stent implantation. Over the past few years, endoscopists have updated themselves with new techniques of endosonography and self-expanding metal stents so as to expand the applications of pancreatic and biliary stents.
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Global Pancreatic and Biliary Stents Market: Notable Developments
Top players in the pancreatic and biliary stents market are stridently focused on launching new products with advanced stenting technology. The market has been witnessing trend of oligopolistic competition and fair degree of fragmentation of shares among a handful of well-entrenched players. Top players despite their stronghold should strive for new revenue streams to consolidate their positions in the pancreatic and biliary stents market. A large portion of the sales revenue is expected to come from ambulatory care centres and cancer care centres.
Numerous stent manufacturers are aiming at emerging market, such as that of Asia Pacific, in addition to expanding their product portfolio in developed markets. These manufacturers have also benefitted from favorable results from studies evaluating the performance of self-expanding metal stents. Top players operating in the pancreatic and biliary stents are:
- Abbott Laboratories
- Becton, Dickinson and Company
- ENDO-FLEX GmbH
- Taewoong Medical Co., Ltd.
- Medtronic Plc.
- Olympus Corporation
- CONMED Corporation
Global Pancreatic and Biliary Stents Market: Growth Dynamics
Fast evolving relevance of palliative therapy in pancreatic cancer is a key factor driving the demand for pancreatic and biliary stents. Over the years, life expectancy of patients with unresectable pancreatic cancer has increased, which in turn bolstered the prospects of the pancreatic and biliary stents market. Growing use of these stents in applications of self-expanding metal stents (SEMS) and endosonography is boosting the pancreatic and biliary stents market. In particular, the use of pancreatic stents for treatment for pain in chronic pancreatitis has gathered traction.
Growing numbers of patients with resectable pancreatic cancers undergoing neoadjuvant therapy have expanded the case of pancreatic stenting. The patient cohort is a major candidate for preoperative biliary stenting. In this regard, the safety of SEMS for biliary drainage is also a promising trend the pancreatic and biliary stents market. In recent years, they have also shown marked efficacy. The market has also benefitted from clinicians adoption of minimally invasive transpapillary approach.
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Global Pancreatic and Biliary Stents Market: Regional Analysis
From the regional standpoint, developing economies are presenting lucrative opportunities and emerging at faster pace than most developed regions of the world. A part of this may be attributed to growing number of research and development avenues by medical device manufacturers, especially in Asia Pacific. North America and Europe are expected to be key lucrative markets in the years to come. Over the past five years, numerous randomized controlled trials have been done in the U.S. This has presented considerable research venues for players in the North America.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.