The global gastrointestinal stent market holds a valuation of USD 455.44 Million by the end of the year 2022. Throughout the forecast period of 2023 to 2033, the market is likely to display growth at a CAGR of 5.5%, and is expected to hold a market value of around USD 815.34 Million in 2033.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 455.44 Million |
| Market Value 2023 | USD 476.72 Million |
| Market Value 2033 | USD 815.34 Million |
| CAGR 2023 to 2033 | 5.51% |
| Market Share of Top 5 Countries | 65.3% |
| Key Market Players | Boston Scientific Corporation; Hobbs Medical Inc.; Taewoong Medical; Micro-Tech (Nanjing) Co., Ltd.; Olympus Corporation; Merit Medical Systems; Qualimed; Medtronic; Conmed Corporation; Terumo Corporation; Johnson & Johnson Services, Inc.; 3M; Smith & Nephew; Diagmed Healthcare; Medline Industries, Inc.; Baxter; B. Braun Melsungen AG; Danaher Corporation; General Electric Company; Cantel Medical Corporation; ConvaTec Inc.; and M.C. Johnson Company, Inc. |
An artificial tube graft called gastrointestinal (GI) stent is put into the body to prevent obstructions in the stomach, oesophagus, and small intestine. It is an expandable metal or plastic mesh tube that is inserted into an anatomical duct to treat blockages brought on by malignant tissues in the bile ducts, oesophagus, intestine, or colon. It helps to eliminate the blockage and reduce the pressure caused by inflammation. A few of the most prevalent types of gastrointestinal stents are biliary, colonic, duodenal, esophageal, and pancreatic stents.
One of the main factors fuelling the market's expansion is the increased incidence of colorectal cancer in the world and rising geriatric population with gastrointestinal conditions such as diverticulosis, bowel disorders, and gastrointestinal cancers.
As per the World Health Organization (WHO), in 2020, colorectal cancer caused more than 1.9 million new cases and more than 930,000 deaths worldwide. By 2040, there will be 3.2 million new occurrences of colorectal cancer annually (an increase of 63%) and 1.6 million annual fatalities (an increase of 73%).
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The gastrointestinal stent market expanded at a CAGR of 3.8% between 2017 and 2022 period due to numerous medical advancements and studies to upgrade diagnostic technologies, as well as the rise in demand for less invasive surgical treatments.
The global gastrointestinal stent contributed around 4.3% revenue share to the USD 10.5 Billion gastrointestinal devices market in 2022.
Gastrointestinal stents are made to provide palliative care for a variety of illnesses that obstruct the GI tract. In the recanalization of gastrointestinal tumors and postoperative leak sealing, GI stents play a significant role. Drug-eluting devices, tissue modelling for benign conditions, and GI tract drainage/anastomosis are some additional potential uses for GI stents. The market for gastrointestinal stents is attributed to changing lifestyles and the rising incidence of GI cancers and other digestive diseases.
The stent manufacturers are also focusing on product development with the use of smart phone application and more market penetration for the product. Other factors expected to drive market growth include the implementation of advantageous government policies, significant expansion of healthcare infrastructure, and extensive research and development efforts, and increased focus by diagnostic laboratories on adoption of advanced technologies.
The increasing prevalence of cancer, growing demand for minimally invasive surgical procedures, development of advanced diagnostic technologies and rising disposable income, all these factors promotes the growth of global market over the forecast period.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 3.29% |
| Jul to Dec (H2), 2021 (A) | 4.71% |
| Jan to Jun (H1),2022 Projected (P) | 3.47% |
| Jan to Jun (H1),2022 Outlook (O) | 3.73% |
| Jul to Dec (H2), 2022 Outlook (O) | 4.81% |
| Jul to Dec (H2), 2022 Projected (P) | 4.46% |
| Jan to Jun (H1), 2023 Projected (P) | 4.25% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 25 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | 44 ↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 35 ↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (A) | 10 ↑ |
Principal Consultant
One of the biggest causes of death around the globe is gastrointestinal cancer. Morbidity and mortality from chronic diseases like esophageal cancer, colorectal cancer, gastrointestinal digestive disorders, etc., have sharply increased in recent years.
According to statistics on cancer published in the International Journal of Cancer 2020, stomach cancer accounted for about 1.1 million new cases worldwide in 2020 and was the fourth leading cause of cancer death, accounting for about 800,000 deaths. It was also the fifth most common malignant tumor worldwide.
Companies have been manufacturing products like biodegradable stents made of biodegradable materials like polyester, polycarbonate, bacterially produced polymers etc. with the potential to elute drugs. Drug-stents can reduce lumen occlusion rates by delivering targeted drugs directly to tissue in addition to radial expansion to maintain luminal potency.
As they progressively break down and are finally absorbed from the GI, biodegradable stents also aid in preserving the digestive tract's functionality for a certain period. Above factors are expected to boost market growth and provide lucrative opportunities to the players globally.
Medical device approval regulations that are too strict will impede the market's expansion. The market growth rate will be further slowed down by unfavourable reimbursement circumstances in developing and underdeveloped economies along with stent-related complications. Biliary stents, as an example, exhibit early problems such as bleeding, infection, and pancreatitis. Esophageal stent therapy can cause painful foreign body symptoms and pulmonary aspiration as side effects.
The cost of healthcare has risen dramatically over the world in recent years, as have the prices of medical equipment. Healthcare providers and payers have limited financial means to spend on such a pricey surgery in developing nations like India and Brazil. In addition, Government in many Asian nations does not provide the healthcare coverage for endoscopic stenting treatments, which is one of the key reasons for patient and physician resistance to gastrointestinal stents. The absence of reimbursement in developing countries like India together with high product cost are expected to hinder the market growth in future.
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| Country | The USA |
|---|---|
| Market Share (2023) | 41.9% |
| Market Share (2033) | 43.7% |
| BPS Analysis | 180 |
| Country | Germany |
|---|---|
| Market Share (2023) | 7.5% |
| Market Share (2033) | 8.2% |
| BPS Analysis | 66 |
| Country | The United Kingdom |
|---|---|
| Market Share (2023) | 6.2% |
| Market Share (2033) | 5.8% |
| BPS Analysis | -42 |
| Country | China |
|---|---|
| Market Share (2023) | 4.7% |
| Market Share (2033) | 4.5% |
| BPS Analysis | -26 |
| Country | France |
|---|---|
| Market Share (2023) | 4.7% |
| Market Share (2033) | 4.4% |
| BPS Analysis | -25 |
The USA will dominate the global market in 2023 with a market share of 41.9%.
Presence of large number of players, increasing cases of cancer, advantageous medical reimbursement policies, advanced levels of healthcare technologies, greater adoption of minimally invasive surgeries have made the USA market to dominate globally.
According to data from the American Cancer Society, nearly 43,030 new cases of rectal cancer and around 97,220 new cases of colon cancer were reported in 2018, and the number of cases have been increasing.
Germany is set to hold a market share of 7.5% in 2023 within the global market.
In recent years, the role of stenting in the management of patients with digestive tract obstruction in Germany has expanded to include the oesophagus, stomach, small bowel, and colon. Recent technological advancements have improved stent patency and reduced stent-induced complications, resulting in a higher quality of life.
To avoid migration, a new device called Stentfix OTSC System has been developed in 2020. It is made up of a Nitinol clip that is preloaded on the applicator cap and is used to clip the flared end of FCSEMS (Fully Covered Self Expanding Metal Stent) to the gastrointestinal mucosal layer. Germany also has a large accessible medical facility, both of which are expected to increase demand for stents in the market.
The China market is set to hold around 4.7% revenue share in 2023 within the global market.
China market is increasing due to rising prevalence of gastrointestinal cancer and diseases. According to published report of 2022 in current oncology research article of MDPI publisher, reported upper gastrointestinal cancer incidences in China were 14,934,040 cases of male and 6,262,431 cases of female with growth rate 181.44% in between 1990 to 2019.
Another factor is the ongoing development of GI stents for various applications in order to expand treatment options and reduce complications.
Biliary stent product sale will exhibit 43.5% of the global market share in 2023.
One of the main factors driving the growth of the biliary stents market is the rising prevalence of bile duct cancer, chronic liver disease, rising gallstones patients, technological advancement for devices, increasing geriatric population, and various surgical procedure to cure biliary diseases.
Within the material category, self-expanding metal stent are expected to lead the global market with the market share of around 65.7% in 2023.
Factors responsible for the growth of this segment include an increase in demand for self-expanding metal stents due to benefits such as ease of insertion, reduced risk of dislodgment or migration, and extended patience
The growing prevalence and occurrences of pancreatic cancers are responsible for the segment's growth with an expected market share of 27.6% in 2023 globally.
According to published report of the American Cancer Society's on pancreatic cancer statistics in 2023, 33,130 males and 30,920 females will be diagnosed with the disease in the USA Furthermore, pancreatic cancer accounts for about 3% of cancer cases and 7% of cancer-related deaths in the USA
Increasing the use of biodegradable stents for the treatment of pancreatic cancer, which results in good palliation for patients during their remaining life span with no serious risks or complications would drive market growth.
In 2023, hospitals and clinics will dominate the global market with 63.5%.
The large share of this segment can be attributed to a large number of percutaneous transhepatic cholangiography (PTC) and endoscopic retrograde cholangiopancreatography (ERCP) procedures performed in hospital settings for various disease symptoms, increased government initiatives to provide standard gastrointestinal disease treatment and durable reimbursement scenarios.
The gastrointestinal stent industry is moderately competitive, with several global and regional companies. The need for stents in gastrointestinal endoscopy increases as the prevalence of diseases connected with the gastrointestinal tract rises. As a result, most big corporations are adopting growth plans to reach out to emerging markets by new product launch.
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the gastrointestinal stent market, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value, and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa (MEA) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, France, Spain, Russia, BENELUX, China, Japan, South Korea, India, Indonesia, Malaysia, Thailand, Australia, New Zealand, GCC countries, Türkiye, South Africa and North Africa. |
| Key Market Segments Covered | Product, Material, Application, End User, and Region |
| Key Companies Profiled | Boston Scientific Corporation; Hobbs Medical Inc., Taewoong Medical; Micro-Tech (Nanjing) Co., Ltd.; Olympus Corporation; Merit Medical Systems; Qualimed; Medtronic; Conmed Corporation; Terumo Corporation; Johnson & Johnson Services, Inc.; 3M, Smith & Nephew; Diagmed Healthcare; Medline Industries, Inc.; Baxter; B. Braun Melsungen AG; Danaher Corporation; General Electric Company; Cantel Medical Corporation; ConvaTec Inc.; M.C. Johnson Company, Inc. |
| Pricing | Available upon Request |
The growth potential of the gastrointestinal stent market is 5.5% through 2033.
The high cost of adoption is likely to limit market growth.
The United States is likely to capture a share of 43.7% by 2033.
The market in China will capture a share of 4.7% by 2033.
The United States, China, and the United Kingdom may witness significant growth in the market.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 6. Global Market Volume (Units) Analysis 2017 to 2022 and Forecast, 2023 to 2033 7. Global Market - Pricing Analysis 8. Global Market Demand (in Value or Size in USD Million) Analysis 2017 to 2022 and Forecast, 2023 to 2033 9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product 9.1. Biliary Stents 9.2. Duodenal Stents 9.3. Colonic Stents 9.4. Pancreatic Stents 9.5. Esophageal Stents 10. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Material 11. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application 12. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End User 13. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 14. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033 15. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033 16. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033 17. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033 18. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033 19. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033 20. Middle East and Africa (MEA) Market Analysis 2017 to 2022 and Forecast 2023 to 2033 21. Market Structure Analysis 22. Competition Analysis 22.1. Boston Scientific Corporation 22.2. Hobbs Medical Inc. 22.3. Taewoong Medical 22.4. Micro-Tech (Nanjing) Co., Ltd. 22.5. Olympus Corporation 22.6. Merit Medical Systems 22.7. Qualimed 22.8. Medtronic 22.9. Conmed Corporation 22.10. Terumo Corporation 22.11. Johnson & Johnson Services, Inc. 22.12. 3M 22.13. Smith & Nephew 22.14. Diagmed Healthcare 22.15. Medline Industries, Inc. 22.16. Baxter 22.17. B. Braun Melsungen AG 22.18. Danaher Corporation 22.19. Cantel Medical Corporation 22.20. ConvaTec Inc. 22.21. M.C. Johnson Company, Inc. 23. Assumptions and Acronyms Used 24. Research Methodology
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Gastrointestinal Stent Market
