Gastrointestinal Stents Market

SKU: DMMD2030 | Last Updated On: Sep 26 2022 | Available Formats

> Gastrointestinal Stents Market Expected to reach a high CAGR 4.7% over the forecast period 2022 to 2029

Gastrointestinal Stents Market is segmented By Product Type (Esophageal Stent, Colonic Stent, Duodenal Stent, Biliary Stent/Pancreatic Stent), By Material (Metal Stents, Plastic Stents, Biodegradable/Drug-Eluting Stents), By Indication (Gastrointestinal Obstructions, Colorectal Cancer, Inflammatory Bowel Disease and others), By End-User (Hospitals, Ambulatory Surgery Centers, Specialty Clinics and others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

[150 Pages Report] Gastrointestinal Stents Market is expected to grow at a CAGR 4.7%  during the forecasting period (2022-2029).

A Gastrointestinal Stent is a metal or plastic tube implanted into the stomach to open bile ducts, esophagus, small bowel, and colon, on blockage due to large cancerous tissues. These stents have been developed for palliation of obstructive symptoms in various diseases causing obstruction to GI tract.

Market Dynamics

The gastrointestinal stents market is growing due to several factors such as rising geriatric population, increasing incidence of gastrointestinal cancer, and technological advancements in the gastrointestinal stents.

The rising incidence of stomach cancer is one of the major factors leading to a rise in demand for gastrointestinal stents. For instance, according to Cancer.net, in 2019, an estimated 27,510 (17,230 men and 10,280 women) in the United States are diagnosed with stomach cancer. It is estimated that 11,140 deaths (6,800 men and 4,340 women) from this disease will occur in 2019. Stomach cancer occurs most often in older people. About 60% of people who are diagnosed are older than age 64. The rising age has significant effects on the GI tract leading to several risk factors. The geriatric population is estimated to increase by nearly 60% in the next 15 years. The number of people above the age of 65 is estimated to be more than a billion by 2050.

Also, increasing number of colorectal cancer cases is also driving the growth of the gastrointestinal stents market. For instance, according to the American Cancer Society, in 2018, the risk of developing colorectal cancer is about 1 in 22, or 4.49% for men and 1 in 24, or 4.15% for women. In the United States, colorectal cancer is the third leading cause of cancer-related deaths in men and in women, and the second most common cause of cancer deaths in men and women together. It's expected to cause about 51,020 deaths during 2019. Hence, rising number of colorectal cancer cases is a major factor boosting the growth of the market during the forecast period (2020-2027).

Segment Analysis

By type, the gastrointestinal stents market is segmented into esophageal stent, colonic stent, duodenal stent, and biliary stent/pancreatic stent. Among these, the biliary stent/pancreatic stent segment accounted for the largest market share in 2018, owing to rising incidence of biliary diseases such as cholangiocarcinoma, primary biliary cholangitis, and gallstone disease and increasing incidence of pancreatic cancer globally. Biliary stents are used to treat obstructions that occur in the bile ducts. Plastic biliary stents are composed of polyethylene, polyurethane, or Teflon. Advancements in stents are being developed by major players to decrease biofilm formation, hence increasing the patency time. These include specialized coatings, a distal windsock design, a double-layer design, and a winged stent without a central lumen. Currently, minimally invasive endoscopic stent placement has evolved to be one of the most successful treatment options for life-threatening benign bile duct structures. Hence, leads to the growth of the biliary stents market globally.

On the other hand, esophageal stent segment is expected to grow at the fastest CAGR during the forecast period (2020-2027) as it is an important tool for the palliative treatment of inoperable esophageal malignancies.

Gastrointestinal Stents Market - Strategic Insights

Metrics

Details

Market CAGR

4.7%

Segments Covered

By Product Type, By Material, By Indication, By End-User, and By Region

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.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Geographical Analysis

North America is dominating the global gastrointestinal stents market accounting for the largest market share in 2018, owing to the rising prevalence of gastrointestinal diseases, supportive reimbursement policies, and the growing geriatric population.

Colorectal cancer is the third most common type of cancer diagnosed in the United States. According to the American Cancer Society’s statistics in the year 2018, there were an estimated 97,220 new cases of colon cancer and 43,030 new cases of rectal cancer. Moreover, as per the Centre for Disease Control’s 2018 statistics, more than a quarter of adults aged 50-75 years, have never been screened for gastrointestinal cancers. In the United States, both the incidence and mortality have been slowly but steadily decreasing. Annually, approximately 145,600 new cases of large bowel cancer are diagnosed, of which 101,420 are colon and the remainder are rectal cancers. Annually, approximately 50,630 Americans die of CRC, accounting for approximately 8 percent of all cancer deaths.

In addition, rising technological advancement in gastrointestinal stents by the major players is also driving the growth of the market. For instance, in November 2018, Cook Medical collaborated with Taewoong Medical to expand patient treatment options by distributing a selection of Taewoong’s stents in the U.S. This distribution collaboration includes the Niti-S™ Through the Scope (TTS) Esophageal Stent, the flagship product of the South Korean company’s Niti-S Self-Expandable line of metal gastrointestinal (GI) stents.

Competitive Landscape

The gastrointestinal stents market is highly competitive with the presence of a large number of players including Medtronic Plc, Boston Scientific Corporation, CONMED Corporation, Becton Dickinson and Company, Cook Group Inc., Olympus Corporation, ELLA CS sro, Taewoong Medical Co. Ltd, CR Bard Inc., and Cantel Medical Corporation.

The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the Gastrointestinal Stents market globally. For instance,

In May 2019, Olympus has launched two self-expanding metal stents (SEMS) for use as palliative measures for patients with short life expectancy or those with malignant colonic or duodenal obstruction.

In May 2018, Olympus, a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, among other core businesses, entered into an exclusive agreement to distribute the HANAROSTENT®. The 510(K) cleared HANAROSTENT Biliary and HANAROSTENT Esophagus will be the first of multiple self-expanding metal stents to be rolled into the Olympus EndoTherapy portfolio for advanced procedures.

In March 2016, Boston Scientific launched an endoscopic system for the minimally invasive treatment of complications from pancreatitis. The AXIOS Stent and Electrocautery Enhanced Delivery System (AXIOS) were developed by Xlumena, a startup acquired by Boston Scientific to expand its portfolio of endoscopic offerings.

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FAQ

What is the Gastrointestinal Stents Market growth?

The market is growing at a CAGR of 4.7%.

What is Gastrointestinal Stents Market size in 2021

The Gastrointestinal Stents Market size was valued at USD YY million in 2021.

Who are the key players in Gastrointestinal Stents Market?

Boston Scientific Corporation, CONMED Corporation, Becton Dickinson and Company, Cook Group Inc.

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