Biliary Stents Market
Biliary Stents Market is segmented By Type (Metal Stents, Plastic Stents), By Application (Gall stones, Biliary leaks, Tumor, Others), By End-user (Hospitals, Ambulatory surgical centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Biliary Stents Market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 4.4% during the forecast period (2022-2029).
Biliary Stents Market Scope
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Metrics |
Details |
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Market CAGR |
4.4% |
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Segments Covered |
By Type, By Application, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Biliary stents are small mesh-like tubes with no coating or covering. Biliary stents are used to treat obstructions present in the bile duct. Stents are usually inserted into the liver to treat hepatic blockage and obstructive hepatic diseases, like cholecystitis, jaundice, hepato-biliary diseases, and cholangitis.
Market Dynamics
The major driving forces are the increasing prevalence of biliary diseases, increase in demand for minimally invasive techniques, technological advancements, the rise in geriatric populations, an increase in awareness among the population and rising demand for bioresorbable stents.
The advancements and developments are pushing the market’s growth.
The rising advancements and developments in biliary stents drive the global biliary stent market growth. For instance, biliary stent technology has come a long way since its inception. There have been significant advancements in the materials used and design and deployment strategies. Options have expanded from plastic and metallic stents to a wider variety of materials and manufacturing technologies to offer several options to clinicians, including self-expandable metallic stents and bioresorbable stents. Bioresorbable biliary stents are still in the early stages of clinical adoption. Furthermore, the market developments happening are fueling the global market growth. For instance, on 09.07.21, QualiMed received CE mark approval for a dedicated percutaneous biodegradable metal alloy-based stent implant for biliary applications, the UNITY-B Percutaneous Balloon Expandable Biodegradable Biliary Stent (BEBS).
The postoperative complications are slowing the biliary stents market growth.
However, postoperative complications and stringent government regulations for approval are expected to restrain the market growth. The postoperative complications related to biliary stents are likely to hamper the market. For instance, according to the European Society of Gastrointestinal endoscopy, some complications include biliary infection, pancreatitis, bleeding, perforation, early stent migration, and renal failure.
Industry analysis.
The Biliary Stents market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, research and developments, epidemiology, regulatory, pricing analysis, Etc.
Segment Analysis
The metal biliary stents are estimated to oppress the market during the forecast period (2022-2029).
Metal biliary stents dominated the global market in 2021 and are expected to have significant growth over the forecast period (2022-2029), owing to the increasing use of metal stents for treating biliary diseases. Metal stent gives longer stent patency as compared to plastic stents. Metal stents are available based on their expansion capacity, which may further lead to better customer adoption due to better benefits. The growing innovations in metal biliary stents will drive the metal biliary stents market growth in the forecast period. For instance, according to NIH, Metal stents are more cost-effective than plastic biliary stents if the patient’s remaining life expectancy is longer than 4-6 months. Therefore, uncovered metal stents are generally preferred over plastic ones for managing malignant biliary obstruction.
Geographical Analysis
North America is predicted to hold most of the market share.
The growing prevalence of pancreatic diseases in North America pushes the North American region to command the market during the forecast period (2022-2029). For instance, according to the National Institute of Health, chronic pancreatitis occurs in about 42 to 73 per 100,000 of the population in the United States. It is considered the most common pancreatic disorder associated with pancreatic insufficiency. Moreover, according to the American Cancer Society, about 62,210 people (32,970 men and 29,240 women) will be diagnosed with pancreatic cancer, and about 49,830 people (25,970 men and 23,860 women) will die of pancreatic cancer. In addition, North America has the most advanced and robust healthcare infrastructure and better healthcare cost reimbursement policies, contributing to the dominance of North America over the global biliary stents market.
Competitive Landscape
The major global biliary stents market players are Boston Scientific Corporation, Brainlab, Q3 Medical Devices Limited, Medtronic, Abbott, Allium Medical Solutions, Aohua Endoscopy Co., Ltd, Changzhou Health Microport Medical Devices, W. L. Gore & Associates, Inc., and Cook Medical. The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the biliary stents market globally. For instance, on AUG 30, 2022, Medtronic acquired Affera.
Medtronic, Plc
Overview
Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronics deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.
Product Portfolio
Medtronic plc `s product portfolio for Biliary Stents has EverFlex, Protégé, Visi-Pro etc.
The biliary stents market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.
Frequently Asked Questions
What is the Projected CAGR value of the Biliary Stents Market?
Biliary Stents Market is expected to grow at a CAGR of 4.4% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls the Biliary Stents Market during 2022-2029.
Which is the fastest growing region in the Biliary Stents Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period.