Published: Aug, 2018
The global gastrointestinal (GI) stents market features a highly consolidated landscape as it is dominated by a handful of global players, notes Transparency Market Research (TMR). Among the top players, Boston Scientific Corporation accounted for the leading share amounting to 66.2% in the global market in 2016. TMR observes that notwithstanding the prominence of only a few players, the competitive landscape is largely characterized by substantial forces of fragmentation. This is on the account of small and large-size players operating in the market at regional as well as global levels. They are constantly vying for gaining a foothold, which has intensified the degree of competition over the past few years.
Some of the other prominent players operating in the gastrointestinal stents market are Merit Medical Systems Inc., CONMED Corporation, ELLA-CS, s.r.o, Becton, Dickinson and Company, W.L. Gore & Associates Inc., Cook Medical, C.R.Bard Inc., and S&G Biotech Inc. Leading players retain their stronghold by engaging in strategic mergers and acquisitions in a bid to bolster their technical expertise. Several prominent players are also resorting to harping on product differentiation to stay ahead of their competitors.
The global gastrointestinal stents market stood at US$356.7 million in 2016 and is projected to expand at a moderate CAGR of 4.4% during the forecast period of 2017–2025. By the end of this period, the opportunities in the market is anticipated to touch a valuation of US$522.8 million by the end of 2025.
The various product types comprise colonic stents, esophageal stents, duodenal stents, and biliary and pancreatic stents. Of these, the biliary/pancreatic stents segment held the major share in 2016. The segment is expected to retain its dominance over the assessment period, driven by its burgeoning demand in treating bile duct cancer.
Regionally, Asia Pacific is projected to rise at the leading CAGR during 2017–2025. Major part of the growth will come from emerging economies. The growth is fueled by the rapid adoption of advanced stent technologies and the rising level of awareness among the patient population.
Uptake of Gastrointestinal Stenting Procedures for Treating Digestive Tract Diseases accentuate Market
The rising demand for endoscopic stenting as an alternative to surgeries and repetitive endoscopic procedures for the treatment of GI diseases and disorders is a key factor propelling the growth of the market. The increasing incidences of gastrointestinal diseases, especially in emerging economies, is fueling the demand for gastrointestinal stents. The rising demand for minimally invasive therapies is underpinning the expansion of the market. The substantially rising uptake of GI stents for treating a range digestive tract diseases is boosting the market. These stents are increasingly being preferred in populations as a palliative therapeutic modality in cases where curative surgery is not feasible.
The low cost and higher efficacy of gastrointestinal stenting procedures compared to general palliative surgeries, especially in patients with poor outcomes, underpins the rising popularity of these devices. The extensively rising demand for gastrointestinal stents in benign strictures is a notable factor accentuating the market.
Rapid Advances pertaining to Design and Performance of Stents create Promising Avenues
Over the past few years, the market has seen rapid advances in the design and performance of the gastrointestinal stents used. Considerable improvements made in the stenting procedures and the efficacy of stents have lowered the morbidity and mortality rates in worldwide patient populations. The advent of new products with advanced technologies is creating exciting, lucrative avenues for market players.
However, caution should be exercised in deciding whether to use gastrointestinal stents in some cases of malignant strictures. Thus, inadequate focus of clinicians on the oncological safety and outcome of GI stents may adversely impact the market growth.
Nevertheless, manufacturers are intensively engaged in bringing design innovations in the stents, which may reduce stent-induced complications. This has also consistently improved the clinical outcomes in the management of patients with digestive tract obstructions. The advent of self-expandable metallic stents used for GI tract is a case in point.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Gastrointestinal Stents Market (Product Type - Esophageal Stents, Duodenal Stents, Colonic Stents, and Biliary/Pancreatic Stents; Stent Type - Metal Stents, Plastic Stents, and Biodegradable/Drug Eluting Stents; Application - Gastrointestinal Obstructions, Colorectal Cancer, Inflammatory Bowel Disease, GI Bleeding, and Gastric Cardia Cancer; End User - Hospitals, Specialty Clinics, and Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2017–2025”.
The global gastrointestinal stents market is segmented based on:
- Esophageal Stents
- Duodenal Stents
- Colonic Stents
- Biliary/Pancreatic Stents
- Stent Type
- Metal Stents
- Plastic Stents
- Biodegradable/Drug Eluting Stents
- Gastrointestinal Obstructions
- Colorectal Cancer
- Inflammatory Bowel Disease
- GI Bleeding
- Gastric Cardia Cancer
- End User
- Specialty Clinics
- Ambulatory Surgical Centers
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa
- North America
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