The global Non-Vascular Stents Market size is expected to value at USD 1.4 billion by 2025. The market is subject to witness substantial growth due to the increase in the geriatric population, an upsurge in incidences related to chronic disorders, and a rise in healthcare expenditure by local governments. Furthermore, the growing importance of minimally invasive surgeries across the globe is expected to drive the growth of the market in upcoming years.
Increasing incidences related to gastrointestinal cancer across the globe are further propelling demand for non-vascular stents. An increase in the number of patients diagnosed with cancer is significantly influencing the growth of the market. Globally, the market is predicted to grow at a CAGR of 5.1% in the forecast period, providing numerous opportunities for market players to invest in research and development in the non-vascular stents industry.
The geriatric population is more susceptible to chronic diseases including lung cancer, pancreatic cancer, colorectal cancer, and other diseases such as stroke, asthma. Subsequently, increasing incidences related to chronic obstructive pulmonary disorders (COPD), chronic pancreatitis, prostate cancer, and glaucoma, are responsible for the rising demand for non-vascular stents.
As per reports by World Health Organization (WHO), the geriatric population is expected to reach two billion by 2050. Additionally, recent statistics presented by the American Cancer Society showcases as many as thirty thousand individuals suffering from stomach cancer in the North American region only. These factors are expected to fuel the growth of the non-vascular stents market in the coming years.
The rising adoption of minimally invasive techniques such as nonvascular stenting is fueling the market growth of non-vascular stents. The minimally invasive techniques are performed by tiny incisions instead of one large opening as they offer advantages such as quicker recovery times and less discomfort over traditional surgery. Additional advantages associated with the adoption of minimally invasive techniques include reduced pain during the surgery and minimum surgical scars. Reduction in the overall operational cost in comparison with traditional surgery techniques due to smaller incisions and minimum side effects are propelling the demand of the non-vascular stents industry.
The non-vascular stents market is majorly categorized into different market segments such as gastrointestinal stents segment, pulmonary, and urological stents segment. The gastrointestinal stents segment is considered one of the fastest-growing segments in the non-vascular stents industry with the highest revenue generation in recent years. The gastrointestinal segment is further classified into different types such as biliary, pancreatic, and esophageal stents. Similarly, the pulmonary stents are also categorized into various types including silicone airway and metallic airway stents. The growing popularity of the urological stents segment is credited to the rise in the occurrence of ureteral disorders such as renal calculi, kidney stones, urinary tract infections, and prostate cancer.
Non-vascular stents are commonly termed as a set of instruments that are specially designed for performing several tasks involving biliary, bronchial, and tracheal implantations. The rising application of non-vascular stents is driving the growth of the market. Non-vascular stents are utilized to improve prime patency in arteries and veins, which are commonly located at the site of stenotic. Non-vascular stents are classified into two common types such as balloon-expandable (BE) and self-expandable (SE).
The market is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. North America and Europe have shown major growth in recent years owing to the rise adoption of the latest methodologies for the treatment of chronic diseases and the existence of well-established healthcare infrastructure. Asia-Pacific region is predicted to hold a major market share in the non-vascular stents market with massive growth in the forecast period. Countries such as India, China, and Singapore are leading the Asia-Pacific market with favorable government initiatives for use of such medical devices, rising geriatric population, and increasing healthcare expenditure.
The key players in the non-vascular stents industry are Medtronic Co., C. R. Bard Incorporations, Boston Scientific Co., Ella Co., Conmed Co., Hobbs Medical Incorporations, Cook Medical Co., Taewoong Medical Corporations, Synchron Med Incorporations, and Glaukos Co.
Product Outlook (Revenue, USD Million, 2014 - 2025)
• Gastrointestinal Stents
• Esophageal Stets
• Pulmonary (Airway) Stents
• Silicone Airway
• Metallic Airway
• Urological Stents
Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• the U.S.
• the UK
• the Asia Pacific
• Latin America
• the Middle East and Africa (MEA)
• South Africa
Research Support Specialist, USA
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