Gastrointestinal Stent Market with COVID-19 Impact by Product (biliary stents, duodenal stents, colonic stents, pancreatic stents, and esophageal stents), Material (self-expanding metal stents and plastic stents), Application, End User – Forecast to 2026

2022-02-11
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Published : Feb-2022
No. of Pages : 223
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“A rising prevalence of GI cancers and other digestive diseases and increasing preference for minimally invasive procedures are driving market growth”

The gastrointestinal stent market is expected to reach USD 600 million by 2026 from USD 457 million in 2021, at a CAGR of 5.6 % during the forecast period of 2021 to 2026.

Gastrointestinal (GI) stents are designed for palliative therapy for various diseases causing obstruction in the GI tract. GI stents have a major role in the recanalization of gastrointestinal (GI) tumors and postoperative leak sealing. Other potential applications of GI stents are drug-eluting devices, tissue modeling for benign conditions, and GI tract drainage/anastomosis. Gastrointestinal stent market growth can be attributed to the rising prevalence of GI cancers and other digestive diseases, and changing lifestyles, increasing healthcare expenditure on gastrointestinal procedures, and increasing preference for minimally invasive surgeries.

“Biliary stent was the largest product segment and esophageal stent is the fastest-growing gastrointestinal stent segment in market in 2020”

The biliary stents segment accounted for the largest share in 2020. The Esophageal Stents segment is estimated to grow at the highest CAGR during the forecast period. The increasing prevalence of bile duct cancer and chronic liver disease is one of the prominent factorsresponsible for the growth of the biliary stents segment. Moreover, the increasing incidence of biliary diseases and the growth in the number of surgical procedures for the treatment of biliary diseases are the other major factors that are expected to support the growth of this market segment during the forecast period. According to the American Cancer Society’s statistics, more than 42,230 new cases of intrahepatic bile duct cancer and primary liver cancer are likely to be diagnosed in the US in 2021. Such factors, alongside a serious concern of gastrointestinal disorders such as gallstones in the US, could also contribute to the bile duct stent placement to treat biliary obstruction.

“The self-expanding metal stent segment will dominate the gastrointestinal stent market”

In 2020, the self-expanding metal stent segment accounted for the largest share in the global gastrointestinal stent market. The increased demand for these stents can be attributed to their ease of insertion, a lower possibility of dislodgment or migration, longer patency because of the large luminal diameters, higher longevity, and larger use of it in interventional endoscopy for various malignant obstructions. Self-expanding metal stents are further sub-segmented into nitinol, stainless steel, and other metal stents.

“The Gastrointestinal Cancers segment to register the fastest growth in the global gastrointestinal stent market”

Based on application, the gastrointestinal stent market is segmented into biliary diseases, irritable bowel syndrome, and gastrointestinal cancers. The gastrointestinal cancers segment is further categorized into colorectal cancer, stomach cancer, esophageal cancer, and pancreatic cancer. The biliary diseases segment accounted for the largest share in 2020. The gastrointestinal cancers segment is projected to have the highest CAGR during the forecast period. The growth of this segment is attributed to the increased prevalence and incidences of gastrointestinal cancers. For instance, According to a report by the American Cancer Society, Colorectal Cancer Facts & Figures 2020-2022, in 2020, there were an estimated 104,610 new cases of colon cancer and 43,340 cases of rectal cancer diagnosed in the US.

“Hospitals and clinics is the largest end user segment in the gastrointestinal stent market in 2020”

Based on end users, the gastrointestinal stent market is segmented into hospitals and clinics and ambulatory surgical centers. The hospitals and clinics segment accounted for the largest share of in 2020. The large share of this segment can be attributed to the large number of endoscopic retrograde cholangio-pancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC) procedures performed in hospitals for different disease indications, favorable reimbursement scenarios, and increased government initiatives to provide quality treatment for gastrointestinal diseases.

“North America will continue to dominate the gastrointestinal stent market in 2026”

The gastrointestinal stent market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latina America, and the Middle East and Africa. In 2020, North America accounted for the largest share. The large share of North America in the global market is attributed to the rising geriatric population, high incidence of gastrointestinal diseases, favourable reimbursement scenario, and presence of key market players. Some of the major players in this market are Boston Scientific Corporation (US), C.R. Bard (US), Becton, Dickinson and Company (US), Merit Medical Systems (US), CONMED Corporation (US), Cook Medical (US), Cantel Medical (US), and Hobbs Medical (US).

The break-down of primary participants is as mentioned below:

  • By Company Type – Tier 1:45%, Tier 2: 30%, and Tier 3: 25%
  • By Designation – C-level: 20%, Director-level: 60%,and Others: 20%
  • By Region – North America: 35%,Europe: 30%,Asia Pacific: 20%,Latin America: 10%,and the Middle East &Africa:5%

Research Coverage:

The report analyzes the gastrointestinal stent market and aims at estimating the market size and future growth potential of various market segments, based on products, material, application, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This report provides insights on:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the gastrointestinal stent market. The report analyzes this market by product, material, application, end user, and region
  • Market Development: Comprehensive information on the lucrative emerging markets, by products, material, application, end user, and region
  • Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the gastrointestinal stent market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the gastrointestinal stent market
Filed in: Medical Device
Publisher : marketsandmarkets
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