Gastrointestinal Stents Market size worth $ 579.4 Million, Globally, by 2030 at 4.80% CAGR. Gastrointestinal (GI) stents are used to provide palliative care for a variety of diseases that cause obstruction in the GI tract. GI stents play an important role in the recanalization of GI tumours and the sealing of postoperative leaks. GI stents may also be used in drug-eluting devices, tissue modelling for benign conditions, and GI tract drainage/anastomosis. The rising prevalence of GI cancers and other digestive diseases, changing lifestyles, rising healthcare expenditure on gastrointestinal procedures, and increasing preference for minimally invasive surgeries all contribute to the growth of the gastrointestinal stent market.
With the highest revenue share in 2016, biliary stents dominated the product segment. Biliary stents are devices used to treat bile duct obstructions. Minimally invasive endoscopic stent placement is now one of the most effective treatment options for life-threatening benign bile duct structures. This is the primary factor resulting in the segment’s largest revenue share. Furthermore, because it is an important tool for palliative treatment of inoperable esophageal malignancies, the esophageal stent segment is expected to grow at the fastest CAGR during the forecast period.
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Global Gastrointestinal Stents Market: Top Key Players
BD
Boston Scientific
ELLA-CS
Cook Medical
Medtronic
Olympus
TaeWoong Medical
BVM Medical
ConMed
Micro-Tech (Nanjing)
C.R. Bard
Endo-Flex
Merit Medical Systems
Cantel Medical
Hobbs Medical
Global Gastrointestinal Stents Market: By Types
Self-expanding Metal Stents
Plastic Stents
Global Gastrointestinal Stents Market: By Applications
Hospitals
Clinics
ASCs
One of the major factors driving market growth is an increase in the prevalence of various types of cancer among the population. Another market growth determinant is the emergence of various innovations and researches in the field of healthcare to develop diagnostic technologies, as well as an increase in the demand for minimally invasive surgical procedures. The growing geriatric population, rise in lifestyle diseases, and rising personal disposable income will all contribute to lucrative market growth opportunities.
However, stringent regulatory medical device approval will limit market growth. Non-favorable reimbursement scenarios in developing and underdeveloped economies will stymie market growth even further. Complications associated with stents will present additional challenges to the market.
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