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Esophageal Stents Market

Esophageal Stents Market

Esophageal Stents Market Analysis By Product (Self-expandable Metallic Stents, Self-expandable Plastic Stents), By End User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers) & Region - Global Market Insights 2022 - 2027

Esophageal Stents Market
FACT7699MR
  • Sep-2022
  • List of Tables : 25
  • List of Figures : 132
  • 170 Pages
  • Healthcare

Esophageal Stents Market Outlook (2022-2027)

The global esophageal stents market is forecasted to increase at a CAGR of 5.6% from 2022 to 2027. Currently, the market is valued at US$ 80 million and is predicted to reach US$ 105 million by the end of 2027.

Demand for esophageal stents in hospitals is expected to rise faster at 6.2% CAGR. For better patient outcomes, hospitals invest considerably in advanced esophageal stents. Because hospitals perform enteral procedures, a bulk of the patient population favor these settings over alternative healthcare facilities.

Report Attributes

Details

Esophageal Stents Market Size (2022)

US$ 80 Million

Projected Market Value (2027)

US$ 105 Million

Global Market Growth Rate (2022-2027)

5.6% CAGR

Market Share of Hospitals

65%

Share in Stents Market (2022)

1%

Key Companies Profiled

  • Andratec GmbH
  • Boston Scientific Corporation
  • BVM Medical Limited
  • M.I.Tech
  • Cook Group Incorporated
  • Ella - CS, s.r.o.
  • Endo-Flex GmbH
  • C. R. Bard, Inc.
  • Merit Medical Systems, Inc.
  • Taewoong Medical Co., Ltd.

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Demand Analysis of Esophageal Stents (2017-2021) Vs. Market Projections (2022-2027)

“Rising Prevalence of Esophageal Cancer across the World”

According to Fact.MR, a market research and competitive intelligence provider, worldwide sales of esophageal stents are projected to increase at a healthy CAGR of 5.6% from 2022 to 2027.

Esophageal stents are flexible mesh tubes that are inserted into the narrowed part of the esophagus to widen the food flow and improve nutrient absorption. These stents are intended to enlarge the esophageal muscles and are typically constructed of metal. Some stents for treating restricting tumors in esophageal cancer are constructed of silicone or plastic. Bypassing an endoscope via the patient's mouth and utilizing X-ray guidance, these stents are implanted.

High preference for minimally-invasive procedures, rising prevalence of esophageal cancer, malignant & benign illnesses, rising number of surgical operations, and rapid advances in R&D activities are the main factors driving the growth of the esophageal stents market.

Esophageal stents are created to offer GI tract obstruction-related disorders palliative therapy. Two crucial roles of esophageal stents are the recanalization of gastrointestinal cancers and postoperative leak sealing. Other potential applications for esophageal stents include tissue modelling for benign illnesses and GI tract anastomosis.

Esophageal stents market forecast by Fact.MR

Why are We Seeing Steadily-Rising Demand for Esophageal Stents?

“Innovation in Esophageal Stents and High Preference for Minimally-invasive Techniques Driving Market Expansion”

Minimally-invasive techniques are often used to treat diseases such as esophageal cancer. As a stenosis treatment, minimally-invasive surgery is performed using non-vascular esophageal stents. Without performing any surgery, this method uses the imaging system to direct tools inside the patient's body.

Because more surgical procedures are being performed to address various vascular and non-vascular illnesses, the use of esophageal throat stents is becoming more common. Because researchers are concentrating on the development of high-quality materials, there is a growing need for novel and inventive minimally-invasive artery stenting or intervention. During the process, these materials provide the stent with superior support, tracking, and flexibility.

Development of biodegradable esophageal stents and improved healthcare infrastructure are the factors expected to boost market growth. Implementing beneficial government laws, a significant rise in healthcare infrastructure, and active research and development (R&D) initiatives are all contributing to market growth.

The introduction of multiple medical advancements and research to enhance diagnostic technologies, as well as the rise in demand for minimally-invasive surgery stents and therapies, are additional factors driving market value. The demand for esophageal stents is anticipated to grow at the fastest rate due to recent advancements in esophageal stents, which have been demonstrated to be safe and cost-effective for esophageal disorders.

One of the main factors driving market growth is the rising prevalence of various types of cancers among the population. Another factor influencing market expansion is the increasing introduction of innovations and research in the healthcare sector to improve diagnostic technologies. The ageing population, rise in lifestyle diseases, and increased personal disposable income, are the factors anticipated to drive market expansion.

An Adaptive Approach to Modern-day Research Needs

What’s Inhibiting Market Expansion of Esophageal Stents?

“Market Being Pulled Back Due to High Costs & Complications Associated with Stents”

Market expansion may be hampered by elements, including high costs and complications associated with stents. Strict medical device approval regulations are expected to impede market expansion. Market growth rate will be further slowed down by unfavorable reimbursement circumstances in developing and underdeveloped economies.

A lot of patients need to have their stents replaced because of malfunctions and other related issues. The growth of the gastronomy industry can be hampered by complications related to procedures.

How Can New Companies Carve a Space for Themselves in This Industry?

“New Market Players Focusing on Launch of Innovative Products to Meet Varied Patient Needs”

Many medical problems make it difficult for individuals to swallow because they restrict a section of the esophagus. Esophageal stents allow food and liquids to pass by opening the esophagus. Start-ups are working on stents that can adjust and fit the anatomy of each patient.

A new entrant based in the U.S. called Thoracent offers pulmonology-specific medical equipment. BONASTENT is a self-expanding metallic esophageal stent produced by the company. It has a nitinol hook and cross-wire design that allows for anatomical customization. Its radial and returning forces are also ideal for great conformability.

What Makes North America a Leading Regional Market for Esophageal Stents?

“Rapidly Rising Adoption of Biodegradable Esophageal Stents in North America”

North America holds the highest share in the esophageal stents market. Market growth in North America is driven by high-tech healthcare facilities, rising adoption of bioabsorbable stents, a large number of newly diagnosed patients, favorable reimbursement policies, and growing usage of minimally-invasive procedures.

A significant portion of the worldwide esophageal stents market is expected to be dominated by North America during the forecast period due to the rising incidence of intestinal cancer, the increase in the introduction of efficient stent devices, and rising investments by major manufacturers in research and development activities.

Country-wise Insights

How is the U.S. Esophageal Stents Market Shaping Up?

“Higher Awareness of Management & Treatment of Gastrointestinal Disorders in the U.S.”

Due to the rising incidence of both malignant and benign illnesses, there is a rising demand for esophageal stents in the United States. This stimulates key manufacturers to create and introduce new goods, which will ultimately aid them in growing their market shares and geographic reach.

The drivers fueling market expansion are significant research and development practices, and growing awareness of the management and treatment of gastrointestinal disorders.

The third most commonly diagnosed type of cancer in the United States is colorectal cancer. The U.S. market is expanding because of favorable regulations, the presence of prominent esophageal stent suppliers, new product releases, the adoption of cutting-edge technology, and rising demand for gastrointestinal stents.

Why is China a Highly Lucrative Market for Esophageal Stent Suppliers?

“Rising Investments by Government Organizations to Offer Improved Healthcare Infrastructure in China”

The esophageal stents market in China is anticipated to increase at a CAGR of 9% from 2022 to 2027 due to the rising incidence of stomach cancer. Additionally, the expanding medical tourism sector would promote the development of the industry because it offers highly advanced medical care at a reasonable price.

Drivers promoting market expansion in China include the development of advanced healthcare infrastructure, increasing demand for palliative esophageal stents, rising per capita spending, an increase in the patient population, and rising investments by government organizations for offering improved healthcare infrastructure.

Category-wise Insights

Why are Self-expandable Metallic Stents Most Widely Used?

“Growing Usage of Self-expandable Metallic Stents for Treatment of Malignant Bile Duct Obstruction”

Based on product, the esophageal stents market is divided into self-expandable metallic stents and self-expandable plastic stents. Self-expandable metallic stents account for the highest share of the global market.

In comparison to plastic stents, self-expanding metal stents have a reduced risk of recurring obstruction and a longer duration of patency, which has led to an increase in demand for these devices for the treatment of malignant bile duct obstruction.

The popularity of stenting treatments utilizing self-expandable metal stents is rising as a result of the launch of cutting-edge next-generation coated metallic stents (SEMS). Due to the increasing incidence of esophageal cancer, the demand for SEMS likely to increase over the coming years.

The use of SEMS has many advantages, including improved patency to stop tissue ingrowth following the stenting procedure. This pushes several manufacturers to produce SEMS rather than self-expandable plastic stents (SEPS).

Benign intestinal leaks and perforations are treated with self-expanding metal stents. These stents serve as a support to maintain the digestive tract open and allow for simple, unhindered outflow of food and liquids.

Which End User is Expected to Generate High Revenue for Market Players?

“Presence of Skilled Healthcare Professionals in Hospitals & Favorable Reimbursement Scenario”

Based on the end user, the esophageal stents market is classified into hospitals, specialty clinics, and ambulatory surgery centers. Hospitals account for 65% share of the global esophageal stents market.

The most popular facility to perform minimally-invasive operations for gastrointestinal illnesses is still a hospital. The need for esophageal stents in hospitals is being driven by the availability of advanced infrastructure and the presence of skilled healthcare professionals.

Sales of esophageal stents in hospitals are expected to rise at a significant CAGR over the forecast period due to the high volume of endoscopic procedures performed for a variety of disease indications, favorable reimbursement policies, and increased initiatives by government organizations to provide high-quality treatment for digestive disorders.

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Competitive Landscape

Top companies in the esophageal stents market are implementing a variety of tactics, including capacity expansion, product innovation, acquisitions, mergers, and partnerships. These initiatives have allowed them to expand their business and customer bases. Increasing R&D spending by top market participants is supporting market expansion over the forecast period.

For instance :

  • In 2020, the WallFlex fully covered esophageal stent manufactured by Boston Scientific Corporation received U.S. Food and Drug Administration approval for the treatment of malignant esophageal constrictions brought on by esophageal cancer.

Segments of Esophageal Stents Industry Research

  • By Product :

    • Self-expandable Metallic Stents
    • Self-expandable Plastic Stents
  • By End User :

    • Hospitals
    • Specialty Clinics
    • Ambulatory Surgery Centers
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

The global esophageal stents market is set to increase at 5.6% CAGR from 2022 to 2027.
The market for esophageal stents is currently valued at US$ 80 million.
Sales of esophageal stents are predicted to reach US$ 105 million by 2027.
Andratec GmbH, Boston Scientific Corporation, and BVM Medical Limited are prominent manufacturers of esophageal stents.
The market in Germany is set to rise at a CAGR of 4.3% through 2027.

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