Gastrointestinal Stents Market
Gastrointestinal Stents Market By Product (Biliary Stents, Duodenal Stents, Colonic Stents, Pancreatic Stents, Esophageal Stents), By Stent Type (Metal Stents, Plastic Stents), By End User, & By Region - Global Market Insights 2022-2027
Gastrointestinal Stents Market Outlook (2022-2027)
The global gastrointestinal stents market is expected to increase at a CAGR of 5.5% from 2022 to 2027 and climb from a market valuation of US$ 516 million in 2022 to US$ 674.3 million by 2027.
Biliary stent sales are predicted to increase faster at a CAGR of 6% and reach a valuation of US$ 313 million by 2027.
Gastrointestinal Stents Market Size (2022E)
US$ 516 Million
Forecasted Market Value (2027F)
US$ 674.3 Million
Global Market Growth Rate (2022-2027)
Share in Global Stents Market
5% to 6%
China Market Value (2027)
US$ 145 Million
Key Companies Profiled
Interested to Procure The Data
Global Demand for Gastrointestinal Stents (2017-2021) Vs. Market Forecasts (2022-2027)
The stent is a type of medical device that was first designed for recanalization or the closing of any lesion that was leaking or blocking blood flow. When bile ducts, small bowel, esophagus, and colon are blocked by significant cancer tissue formation, gastrointestinal stents are utilized to relieve those organs.
Depending on the material utilized, stents may be implanted permanently or can be removed. The purpose of stenting is to lessen digestive tract blockage in patients. Furthermore, technological development has improved stent performance and decreased stent-induced complications to improve quality of life, which is expected to fuel sales of gastrointestinal stents.
GI stents market share is expanding as a result of the growing popularity of minimally-invasive surgeries. Due to some advantages over conventional products, such as decreased blood loss, decreased infection risk, shorter hospital stays, and quick recovery, these gastrointestinal treatment devices are increasingly being used for the therapy of a variety of gastrointestinal illnesses.
Global gastrointestinal stent sales are currently valued at US$ 516 million and are expected to increase at a CAGR of 5.5% from 2022 to 2027, says Fact.MR, a market research and competitive intelligence provider.
Why are Sales of Gastrointestinal Stents Rising Steadily?
“Rising Cases of Colorectal Cancer & Preference for Minimally-invasive Surgeries Paving Way for Gastrointestinal Stents”
Rising cases of colorectal cancer globally are one of the main factors propelling gastrointestinal stent sales. Furthermore, the geriatric population with digestive disorders such as bowel problems, diverticulosis, and gastrointestinal cancers are fuelling gastrointestinal stents market share.
Furthermore, the sector is being greatly influenced by rising knowledge of minimally-invasive surgical procedures and rising public health consciousness. Gastrointestinal stents help to minimize blood loss, a faster healing period, and a lower chance of infection than standard open surgical operations.
Several technological innovations, including the development of bio-absorbable stents and stents made of nitinol materials with high flexibility and kink resistance, are boosting gastrointestinal stents industry growth.
An Adaptive Approach to Modern-day Research Needs
What’s Hampering Revenue Growth of Manufacturers of Gastrointestinal Stents?
“High Gastrointestinal Disorder Treatment Cost Not Affordable by Low-income Patients”
Globally, the cost of healthcare has increased significantly in recent years, as have the costs of medical devices such as gastrointestinal stents.
- An endoscopic stenting procedure typically costs US$ 43,798.06, according to a study that was published in May 2021 by the National Library of Medicine.
In developing countries, healthcare providers and players have limited financial resources to invest in such an expensive surgery. One of the main causes of patients' and doctors' reluctance to gastrointestinal stents is the fact that respective government reimbursement for endoscopic stenting procedures is either limited or non-existent in most Asian countries.
It is predicted that the expensive price of gastrointestinal stents and the lack of funding in developing nations will deter patients from pursuing these therapies.
What Challenges Will Actually Aid New Entrants Enhance their Market Share?
“Need for Advanced Biodegradable Stents Opening Opportunities for Newcomers”
Corrodible metals, polyester, polycarbonates, and other biodegradable materials are used to make biodegradable stents, which are further used to treat coronary artery disease. Medication-eluting stents can prevent occlusion rates from rising by preventing occlusion not only through radial expansion but also by targeted drug delivery to tissue.
Furthermore, because biodegradable stents gradually deteriorate and are eventually absorbed from the gastrointestinal system, they help keep the gastrointestinal tract open for a set amount of time.
Thus, to raise their revenue share, market participants should concentrate on developing advanced biodegradable stents and drug-eluting stents.
Which Regions are Profitable for Suppliers of Gastrointestinal Stents?
“Obstructive Gastrointestinal Illnesses Common in North America”
North America currently dominates the gastrointestinal stents market and is predicted to do so over the next five years as well.
Substantial demand for gastrointestinal stents in North America is a result of the high rate of the senior population, favourable reimbursement policies, increasing prevalence of obstructive gastrointestinal illnesses, and the existence of major market competitors.
During the projected period, the Asia Pacific market is anticipated to expand at the fastest rate. Rise in gastrointestinal stent sales is anticipated to be fueled by factors such as the rising incidence of stomach cancer.
The availability of cutting-edge medical treatments at minimal expenses in some nations has led to a burgeoning medical tourism industry in the region, which increases the number of patients in the region. As a result, Asia Pacific's need for gastrointestinal stents is anticipated to rise greatly during the projection period.
What Makes the United States a Leading Market for Gastrointestinal Stents?
“Presence of Top Gastrointestinal Stent Firms & Rising Prevalence of Colorectal Cancer”
The third most common cancer to be discovered in Americans is colorectal cancer.
- According to information provided by the American Cancer Society, there were an anticipated 97,220 new cases of colon cancer and 43,030 new cases of rectal cancer in 2018.
- More than a quarter of people between the ages of 50 and 75 have never had a gastrointestinal cancer screening, according to statistics from the Centers for Disease Control 2018.
To raise screening rates, there have been numerous public and commercial initiatives. These activities have led to a progressive increase in the proportion of persons aged 50 to 75 who have recently undergone screening.
The market for gastrointestinal stents is expected to expand steadily over the forecast period due to the presence of a sizable patient pool, as well as favourable government initiatives and reimbursement policies.
Why Will China Be a High Growth Market for Gastrointestinal Stent Suppliers?
“Improper Diets Leading to Poor Digestive System Increasing Incidence of Gastrointestinal-related Disorders”
In China, gastrointestinal-related disorders are commonly seen among the very young and older population, this may be due to improper diet and poor digestion system.
Sales of gastrointestinal stents in China are expected to expand at a high CAGR of 9% from 2022 to 2027 and reach a valuation of US$ 145 million by the year 2027.
China’s gastrointestinal stents market is expected to experience profitable growth as a result of the country's ageing population, increased healthcare awareness, government programs to treat bile duct disorders, and increased research and development efforts for pancreatic and bile duct infections.
Furthermore, it is anticipated that over the projection period, the gastrointestinal stents market would provide high potential growth possibilities due to the urgent need to reduce the high incidence rate of gastrointestinal illnesses and technological upgrades to the healthcare infrastructure.
Why are Biliary Stents High in Demand?
“High Prevalence of Biliary Diseases Due to Rise in Food Digestion Problems”
A long, tube-like structure called a bile duct helps bile fluid drain from the body. Biliary stents sometimes referred to as bile duct stents are used to treat conditions that block the bile duct. Stents for the bile duct can be composed of polymer or metal.
Biliary stents are put into the lumen or duct to maintain the opening and allow for the best possible outflow of the bile. Food digestion depends heavily on bile fluids, which are produced by the liver into the intestinal channel through a bile duct that opens in the intestine.
The accuracy level of ERCP and PTC tests has increased due to technological improvements and efficient diagnosis methods.
- The overall success rate of a repeat ERCP operation is 95%, according to the Gastrointestinal Endoscopy Journal.
Furthermore, several serious gastrointestinal illnesses, including pancreatic cancer, bile duct, liver cancer, gall stones, and radiation therapy, can result in bile duct abnormalities. Also, it is predicted that the market would expand strongly during the forecast period due to the rise in patient care management and the rise in pancreatic cancer.
Demand for biliary stents is also being driven by an increase in surgical operations, malignant biliary blockage, biliary stricture, and bile duct leakage. Sales of biliary stents are expected to expand at a CAGR of 6% during the forecast period and reach a valuation of US$ 313 million by 2027.
With the presence of several international and local businesses, the gastrointestinal stents market is moderately competitive. As disorders affecting the gastrointestinal system become more common, the need for stents for gastrointestinal endoscopy becomes more necessary. As a result, a majority of large firms are implementing expansion strategies to penetrate new markets.
Recent Development in Gastrointestinal Stents Market
- In June 2019, Merit Medical Systems Inc purchased Brightwater Medical Inc for US$ 35 million. The FDA has approved Brightwater Medical Inc.'s ConvertX biliary stent product.
Key Segments of Gastrointestinal Stents Industry Research
By Product :
- Biliary Stents
- Duodenal Stents
- Colonic Stents
- Pancreatic Stents
- Esophageal Stents
By Stent Type :
- Metal Stents
- Plastic Stents
By End User :
- Ambulatory Surgery Centers
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
Biliary Stents Market Market is expected to reach US$ 402.5 Mn by 2027, growing at a CAGR of 6%.Hos...
Esophageal Stents Market is expected to reach US$ 105 Mn by 2027, growing at a CAGR of 5.6%.The mark...
Endovascular Stent Market to witness considerable growth during 2020-2030. Endovascular aneurysm rep...