Gastrointestinal Stent Market by Product (biliary stents, duodenal stents, colonic stents, pancreatic stents, and esophageal stents), Material (Plastic Stents, Self-Expanding Metal Stents, and Covered Self-Expandable Metallic Stents), Type (Anti-Migratory Stents, Drug-Eluting Stents, Radioactive Stents, Anti-Reflux Stents, Shape-Modified Stents, and Biodegradable Stents), Application (Inflammatory Bowel Diseases, Biliary Disease, Colorectal Cancer, and Stomach Cancer), and End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centre, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed the US$ 424.64 million mark in 2022 and is expected to hit US$ 614.70 million by 2030, recording a CAGR of 4.7% during the forecast period.
The gastrointestinal stent market has been significantly growing with the increasing prevalence of IBD and other gastric disorders.
The rising prevalence of gastrointestinal disorders across the globe is one of the key factors driving the gastrointestinal stent market growth. Additionally, an increasing geriatric population suffering from gastrointestinal diseases, such as bowel ailments, diverticulosis, and gastrointestinal malignancies, is also boosting the gastrointestinal stent market growth. Further, compared to traditional open surgery procedures, gastrointestinal stenting involves low risk of infections, minimal blood loss, and a quick recuperation period. The biliary stents segment is expected to pace with the increasing geriatric population. Further, other materials and type segments are also expected to gain traction during the forecasted year.
Within the report, the gastrointestinal stent market is segmented into product, material, type, application, end user, and geography. The market is further segmented by product: pancreatic stents, biliary stents, colonic stents, duodenal stents, and esophageal stents. Based on material, the gastrointestinal stent market is segmented into plastic stents, self-expanding metal stents, and covered self-expandable metallic stents. By type, the market is divided into anti-migratory stents, drug-eluting stents, radioactive stents, anti-reflux stents, shape-modified stents, and biodegradable stents. Based on indication, the market is segmented into gastrointestinal cancer, biliary diseases, and inflammatory bowel diseases. On the basis of indication, the market is divided into gastrointestinal cancer, biliary diseases, and inflammatory bowel diseases. Based on end user, hospitals, specialty clinics, ambulatory surgical centers, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
The growing development of biodegradable and drug-eluting stents empowered the growth of the gastrointestinal stent market.
Technological advancement led to a rise in demand for innovative products, contributing significantly to the growth of gastrointestinal stents. The introduction of biodegradable and drug-eluting stents contributed considerably to the gastrointestinal stents market growth. Biodegradable stents are made of biodegradable materials such as polyesters, polycarbonates, bacterial-derived polymers, and corrodible metals and are primarily used in coronary artery disease. Drug-eluting stents can maintain luminal patency from radial expansion and targeted drug delivery directly to tissue, reducing occlusion rates in the lumen. Moreover, biodegradable stents help maintain the patency of the gastrointestinal tract for a predetermined duration as they gradually degrade and are eventually absorbed from the GI.
The emerging medical device industry is one of the major factors accelerating market growth.
The industries for wearable display technology are consumer electronics, military and defense, healthcare, education, and others. Within these industries, the airline industry is one such industry, wherein the use of wearable devices is increasing for effective peer-to-peer communication, security, customer data, flight operations, and aircraft maintenance. The medical sector is also encouraging the use of wearable display technology maintenance, documentation, and in emergency cases. Other industries such as customer service, military, heavy equipment, and consumer electronics are also encouraging the use of this display technology.
Medical device industries in the US, Europe, and Australia are well-established, with several advanced technologies and techniques readily available in the respective markets. The research activities in the medical device industry also encourage the development of innovative products in the market.
Recent strategic developments in the gastrointestinal stent market
The gastrointestinal stent market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2022, Boston Scientific Corporation announced that it had entered into a definitive agreement with Synergy Innovation Co., Ltd to purchase its majority stake.
- In November 2020, Boston Scientific Corporation (US) received 510(k) approval from the US Food and Drug Administration (FDA) and CE Mark approval to market its WallFlex Fully Covered Esophageal Stent for the treatment of malignant esophageal strictures caused by esophageal cancer.
- In October 2020, Olympus Corporation (Japan) launched HANAROSTENT Esophagus TTS Self-expanding Metal Stents (SEMS) made by MI-Tech and distributed exclusively through Olympus in the US.
Several players drive the gastrointestinal stent market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BD; Boston Scientific Corporation; Medtronic; Terumo Corporation; Johnson & Johnson Services, Inc.; 3M; Smith & Nephew; Diagmed Healthcare; Medline Industries, Inc.; Baxter; and B. Braun Melsungen AG are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Sterilization service provider
- Medical device-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policymakers
- Venture capitalists, private equity firms, and start-up companies
- GI stents component suppliers
- Medical devices distributors and sales firms
- End users of GI stents
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Product:
- Biliary stents
- Duodenal stents
- Colonic stents
- Pancreatic stents
- Esophageal stents
- Material
- Plastic Stents
- Self-Expanding Metal Stents
- Covered Self-Expandable Metallic Stents
- Type:
- Anti-Migratory Stents
- Drug-Eluting Stents
- Radioactive Stents
- Anti-Reflux Stents
- Shape-Modified Stents
- Biodegradable Stents
- Application:
- Inflammatory Bowel Diseases
- Biliary Disease
- Colorectal Cancer
- Stomach Cancer
- End User:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centre
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- BD
- Boston Scientific Corporation
- Medtronic
- Terumo Corporation
- Johnson & Johnson Services, Inc.
- 3M
- Smith & Nephew
- Diagmed Healthcare
- Medline Industries, Inc.
- Baxter
- B. Braun Melsungen AG
Companies profiled
- BD
- Boston Scientific Corporation
- Medtronic
- Terumo Corporation
- Johnson & Johnson Services, Inc.
- 3M
- Smith & Nephew
- Diagmed Healthcare
- Medline Industries, Inc.
- Baxter
- B. Braun Melsungen AG