In 2016, the global non-vascular market for stents was worth USD 916.1 millions. It is forecast to grow at 5.1% CAGR during the forecast period. Market growth is expected to be boosted by a growing geriatric population, an increase in chronic and other diseases, as well as increased healthcare spending. Market growth is expected to be supported by an increase in minimally invasive surgery worldwide.
Geriatrics are more likely to develop chronic diseases like lung cancer and pancreatic cancer. WHO predicts that the world's 60-year-old population will increase from 841.0 million people in 2013 to more than 2.0 billion by 2050.
Globally, gastrointestinal cancers are on the rise. This will support the market for non-vascular stents. According to the GI Cancer Institute of Australia, approximately 24,000 Australians are diagnosed each year with this disease. According to statistics from the American Cancer Society, nearly 26,370 people were diagnosed with stomach cancer in America in 2016. The American Cancer Society also states that approximately 28,000 stomach cancer cases will be diagnosed in 2017.
According to the World Bank Group, per capita global healthcare spending increased by 55.0% between 1996 and 2014. The current healthcare spending in the United States is approximately 2.4 times greater than the global average. It is expected to rise by 68.0% over the next 10 years. According to the IBM Global Business Services executive reports, the per capita healthcare spending in the United States was close to USD 9,400.0 for 2014. The market is expected to grow due to this increase in per capita healthcare spending across the globe.
This study analyzed products from the gastrointestinal, pulmonary, or airway segments. The gastrointestinal segment can be further divided into colonic, colonic and pancreatic stents. The pulmonary stents can also be classified as silicone and metallic airway.
Due to increasing incidence of ureteral disease, such as kidney stones or renal calculi, prostate cancer and urinary tract infection around the globe, the urological segment emerged as the largest. The demand for urological devices is expected to rise due to an increase in ureteroscopy, ureterorenoscopy and lithotripsy procedures around the globe.
Over the forecast period, the CAGR for gastrointestinal stents is expected to be comparatively higher. This is due to an increasing incidence of gastrointestinal cancers such as cancers of the stomach, esophagus and gall bladder.
Over the forecast period, the market for biliary devices is expected to grow in response to the worldwide increase in biliary diseases like gallstone disease and bile duct cancer.
North America had a 32.0% market share in 2016, owing to increasing rates of chronic diseases such as asthma, glaucoma and central airway obstruction in the U.S. The dominance of the region was further supported by the presence of key market players and a strong healthcare infrastructure.
Europe will also hold a significant market share due to its growing medical technology sector and rising prevalence of gastric cancer within the EU5. Asia Pacific, on the other hand, is expected to see a higher CAGR than other regions because of favorable government initiatives to use such medical devices, rising healthcare spending, and a growing geriatric population.
Medtronic, C. R. Bard, Inc., Boston Scientific Corporation, and ELLA CS, s.r.o. are some of the key players in this sector. ; CONMED Corporation, HOBBS MEDICAL, INC.; Cook Medical; Taewoong Medical Co., Ltd., Synchron Med Inc., and Glaukos Corporation.
These players are focused on various growth strategies, such as product launches, mergers & acquisitions, and patient awareness campaigns. Cook Medical, for example, launched the Evolution Biliary Controlled Release Uncovered Stent in the U.S. in June 2013. This stent can be used to drain blocked biliary ducts.
This report provides information on the current trends and forecasts for revenue growth, as well as analysis of each sub-segment from 2014 to 2025. Up Market Research, Inc. analyzed the market for non-vascular stents based on product and geographic regions.
Product Outlook (Revenue USD Million, 2014-2025)
Gastrointestinal Stents
Biliary
Duodenal
Colonic
Pancreatic
Esophageal Stents
Stents for the Pulmonary (Airway).
Silicone Airway
Metallic Airway
Urological Stents
Other
Regional Outlook (Revenue USD Million, 2014-2025)
North America
The U.S.
Canada
Europe
Germany
The U.K.
France
Italy
Spain
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
The Middle East and Africa (MEA).
South Africa
b. The market for non-vascular stents was valued at USD 1.05 Billion in 2019, and is forecast to grow to USD 1.10 Billion by 2020.
What is the market growth for non-vascular stents?b. Global non-vascular stents markets are expected to grow at a compound annual rate of 5.1% between 2017 and 2025, to reach USD 1.42 Billion by 2025.
Which market segment had the largest non-vascular stents market shares?b. With a 31.77% share in 2019, North America was the market leader for non-vascular stents. This can be attributed to the increasing incidence of lung cancer, glaucoma and central airway obstruction as well as other chronic diseases such COPD and asthma.
What are the major players in the non-vascular stents marketb. b. ; CONMED Corporation, HOBBS MEDICAL, INC.; Cook Medical; Taewoong Medical Co., Ltd., Synchron Med Inc., and Glaukos Corporation.
What are the driving factors for the non-vascular stents industry?b. The market growth is driven by the growing geriatric population, rising prevalence of chronic & additional diseases, and an increase in per capita healthcare expenditure.
Up Market Research published a new report titled “Non-vascular Stents Market research report which is segmented by Gastrointestinal (Colonic, Biliary, Duodenal, Pancreatic, Esophageal Stents), By Players/Companies INC; Cook Medical; Taewoong Medical Co, Inc; Boston Scientific Corporation; ELLA - CS, Medtronic; C R Bard, Ltd; Synchron Med Inc; and Glaukos Corporation, sro; CONMED Corporation; HOBBS MEDICAL”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Non-vascular Stents Market Research Report |
By Gastrointestinal | Colonic, Biliary, Duodenal, Pancreatic, Esophageal Stents |
By Companies | INC; Cook Medical; Taewoong Medical Co, Inc; Boston Scientific Corporation; ELLA - CS, Medtronic; C R Bard, Ltd; Synchron Med Inc; and Glaukos Corporation, sro; CONMED Corporation; HOBBS MEDICAL |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 230 |
Number of Tables & Figures | 161 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Gastrointestinal (Colonic, Biliary, Duodenal, Pancreatic, Esophageal Stents).
Non-vascular Stents Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Non-vascular Stents Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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