During the projected timeframe, the non-vascular stents market is predicted to increase at a CAGR of 4.5%. (2022 to 2032). The industry is anticipated to be worth USD 1.21 Billion in 2022, rising to USD 1.9 Billion by 2032.
Over the forthcoming years, the global non-vascular stents market is going to expand remarkably in response to the increasing demand for less invasive methodologies. Several obvious factors contributing to market growth during the forecast period are mentioned below
During the pandemic period, COVID-19 is anticipated to have a significant impact on market growth. The volume of invasive procedures has decreased significantly during the global epidemic, owing to regulatory authorities' strict guidelines to avoid all non-emergent surgeries.
According to a National Institute of Health article published in October 2021 titled "The impact of COVID-19 on emergency general surgery admissions and operative volumes: A single-center experience,". As a result, COVID-19 has had a major effect on the market for non-vascular stent devices.
| Attributes | Details |
|---|---|
| Non-Vascular Stents Market CAGR (2022 to 2032) | 4.5% |
| Non-Vascular Stents Market Value (2022) | USD 1.21 Billion |
| Non-Vascular Stents Market Value (2032) | USD 1.9 Billion |
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During the forthcoming years, the USA is anticipated to dominate the non-vascular market with a CAGR of 3.9%, generating a revenue of USD 659.1 Million by 2032.
In the United States, COPD, lung cancer, central respiratory failure, glaucoma, bronchitis, and other chronic diseases are becoming more prevalent. The appearance of a target population, significant market players, and good healthcare infrastructural facilities in the region all contributed to the region's considerable market share for the United States.
These rising interest rates of emergent incisional hernia repair are concerning because they carry a significantly increased risk of morbidity and mortality, requiring the adoption of gastrointestinal stents in the United States. Cook Medical launched the Evolution Biliary Controlled-Release Uncovered Stent in the United States. This stent is used to unclog obstructed bile ducts.
Europe is also expected to retain a major market share during the forecast time frame due to the EU5 countries' prospering medical technology industry and increased incidence of gastric cancer.
The Asia Pacific, on the other hand, is expected to experience a higher CAGR during the forecast period than most other regions due to favorable government initiatives for the adoption of such medical equipment, a growing geriatric population, and soaring healthcare infrastructure.
The market for non-vascular stents is competitive, with a few major players. Becton, Dickinson and Company, Boston Scientific Corporation, CONMED Corporation, Cook Medical, ELLA - CS, s.r.o., Glaukos Corporation, Hobbs Medical., Medtronic, Micro-Tech (Nanjing) Co. Ltd, W. L. Gore & Associates Inc., and others hold a significant market share.
To increase market revenue and augment their corporation portfolio, they employ a variety of strategies, resulting in several emerging trends in the non-vascular stents market. As a result, these firms focus on a variety of growth strategies, including mergers and acquisitions patient awareness campaigns, and launches of new products.
The global non-vascular stents market is likely to advance to a significant extent in response to the growing demand for minimally invasive procedures over the forecast period.
During the forecast period, the market growth is contributed by a few obvious factors, including an increase in the geriatric population, per capita healthcare spending, and the prevalence of chronic cancer and other diseases.
Moreover, with rapid technological advancements, the non-vascular stents market trends are expected to gain momentum and grow at a healthy rate throughout the forecast period.
Non-vascular stents use precise, small incisions, resulting in scars that are smaller and less visible than those left by traditional surgical techniques, putting the patient's safety in jeopardy. Such surgery is associated with a faster recovery period, resulting in a shorter hospital stay for the patient, encouraging many to opt for the same, in turn, surging the adoption of non-vascular stents.
Furthermore, sales of non-vascular stents are likely to surge as patients are less likely to contract hospital-acquired illnesses like bloodstream infections and urinary tract infections if they stay in the hospital for a shorter period of time.
In recent years, non-vascular stents have become the proper standard for removing occluding malignancies in the gastrointestinal tract and hence, providing impetus to the non-vascular stents market size to a significant extent.
Emerging technological and material breakthroughs have been assisting in the development of specially tailored stents for use in a variety of indications, resulting in increased demand for non-vascular stents in a variety of applications.
The discovery of biodegradable plastics, as well as bio-absorbable scaffolds, has spiked the use of stents in gastrointestinal, urological, biliary strictures, and pulmonary, greatly influencing the non-vascular stents market demand analysis.
The non-vascular stents market outlook is positively impacted by the newly developed biodegradable stent materials that do not require stent removal, polyacrylic amine and polylactic acid-glycolic acid being a couple of them.
On account of its high elasticity, nitinol is increasingly being used in non-vascular self-expandable stents, making it ideal for stent implantation in difficult internal tract segments.
The market is predicted to be aided by favourable government initiatives to be used for such medical devices and rising healthcare expenditure.
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The proliferation of hospitals and ambulatory surgical centers and increasing healthcare spending in developing countries are providing impetus to the non-vascular stents market growth.
The market is also positively impacted by the government and private insurance companies' medical reimbursement policies that are beneficial.
Continuous R&D efforts to develop much better stent materials, designs, and minimally invasive stenting procedures utilizing endoscopes are likely to bring about non-vascular stent market future trends.
On the other hand, the high cost of metallic stents is declining the sales of non-vascular stents and dwindling the overall market.
Governments and regulatory bodies around the world are constantly revising healthcare reforms to improve the quality of medical devices while also lowering their costs is posing a challenge to the global non-vascular stents market.
The market for non-vascular stents is likely to be hampered by the availability of alternative treatment options for treating luminal strictures.
Furthermore, government, as well as regulatory pressure to reduce the cost of medical devices, as well as the presence of a large number of domestic players in most regions are likely to impede the non-vascular stents market trends and forecasts.
The development of drug-eluting stents, biodegradable stents, and radioactive stents creates a wide array of non-vascular stents market opportunities in the near future.
Demonstrating long-term efficacy and medical device excise taxes are some of the other major roadblocks to the non-vascular stents market.
In terms of product, urological stents segment is likely to dominate the non-vascular stents market advancing at a CAGR of 4.3% from 2022 to 2032.
On account of the rising prevalence of ureteral diseases such as renal calculi or kidney stones, urinary tract infections, and prostate cancer around the world, the urological stents segment has emerged as the largest segment.
The demand for urological stents is expected to rise due to an increase in the number of ureterorenoscopy, ureteroscopy, lithotripsy, and schistosomiasis procedures performed around the world.
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| Regions | CAGR (2022 to 2032) |
|---|---|
| USA Market | 3.9% |
| UK Market | 3.3% |
| China Market | 3.6% |
| Japan Market | 3.9% |
| India Market | 3.7% |
During the projected period, the US is expected to lead the non-vascular market with a CAGR of 3.9% during the forecast period, garnering a revenue of USD 659.1 million by 2032.
COPD, lung cancer, central airway obstruction, glaucoma, asthma, and other chronic diseases are becoming pervasive in the United States.
The presence of a target population, major market players, and a strong healthcare infrastructure in the region all contributed to the sizeable the US market share.
These rising rates of emergent incisional hernia repair are alarming as they carry a much higher risk of morbidity and mortality, necessitating the use of gastrointestinal stents in the United States.
The flourishing medical technology sector and the rising prevalence of gastric cancer in the UK are likely to contribute to the market size.
However, due to rising geriatric population, favourable government initiatives for the use of such medical devices, and rising healthcare expenditure, China and India are expected to grow at a faster rate than other regions over the forecast period.
Increased healthcare allocations, as well as an increase in the number of hospitals and day surgery centres can also be credited to the region’s major non-vascular stents market share.
The market for non-vascular stents is competitive, with only a few major players.
To augment market profit and diversify their company portfolio, they use a variety of strategies thereby bringing about various emerging trends in non-vascular stents market.
Hence, these companies concentrate on a variety of growth strategies, such as mergers and acquisitions, patient awareness campaigns, and new product launches.
Some of the recent developments in market are
The non-vascular stents market is projected to register a CAGR of 4.5% during the forecast period (2022 to 2032).
During the forecast period, the US is expected to lead the non-vascular stents market accounting for USD 659.1 million by 2032.
Urological stents segment is expected to dominate the non-vascular stents market over the forecast period with a CAGR of 4.3% from 2022 to 2032.
The non-vascular stents market is expected to be appraised at USD1.9 billion by 2032.
The non-vascular stents market sized was valued at USD 1.17 billion in 2021.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background and Foundation Data Points 5. Key Success Factors 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Product 8.1. Gastrointestinal Stents 8.1.1. Biliary 8.1.2. Duodenal 8.1.3. Colonic 8.1.4. Pancreatic 8.1.5. Esophageal Stents 8.2. Pulmonary (Airway) Stents 8.2.1. Silicone Airway 8.2.2. Metallic Airway 8.3. Urological Stents 8.4. Others 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East and Africa (MEA) 10. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 11. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 12. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032 13. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032 14. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032 16. Market Structure Analysis 17. Competition Analysis 17.1. Medtronic plc 17.2. Glaukos Corporation 17.3. Boston Scientific Corporation 17.4. ELLA - CS, s.r.o. 17.5. CONMED Corporation 17.6. HOBBS MEDICAL, INC. 17.7. Cook Medical 17.8. Taewoong Medical Co., Ltd. 17.9. Synchron Med Inc. 18. Assumptions and Acronyms Used 19. Research Methodology
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Non-Vascular Stents Market
