The global gastrointestinal stents market was valued at more than $210 million in 2015 and is expected to surpass $254 million by 2020, says Technavio.
Technavio has announced its latest market research report on gastrointestinal stents for the forecast period, 2016-2020. This market analysis, under the orthopedics and general medical devices vertical, discusses the major drivers and key emerging trends that will influence the growth of the global gastrointestinal stents market during the forecast period. Some of the top vendors listed in this industry analysis include BD, Boston Scientific, ELLA-CS, Cook Medical, Medtronic, and TaeWoong Medical.
In terms of geographical analysis, the Americas is expected to continue its domination over the global market and is likely to account for a revenue of almost $115 million by 2020. The US will emerge as the key revenue-generator.
“The emergence of technologically advanced stents such as bioabsorbable scaffolds, and biodegradable polymer is likely to propel the adoption of gastrointestinal stents in the global market. These new stents can eliminate the negative issues of durable polymer stents to induce a significant shift in the treatment of conditions such as structures produced by malignant neoplasms, obstruction caused by malignant or benign esophageal stricture, and indications associated with obstruction of the bile duct. The wide application area of such stents is expected to encourage patients to undergo stent implantation surgery,” says Srinivas Sashidhar, a lead analyst at Technavio for orthopedics and general medical devices.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increasing incidence of gastrointestinal disorders
Lifestyle changes such as unhealthy diets and physical inactivity leads to raised blood pressure, blood glucose, lipids, and obesity. The past few years have witnessed a rise in morbidity and mortality from chronic diseases such as esophageal cancer, colorectal cancer, rectal cancer, and gastrointestinal related critical disorders. According to the American Cancer Society, it was estimated that about 93,000 new cases of colorectal cancer and 40,000 new cases of rectal cancer are diagnosed every year in the US. Conditions such as esophageal perforations, bile duct injury, and gallstones require gastrointestinal stents as a remedial procedure.
Growing preference for MI procedures
Over the years, minimally invasive (MI) procedures have become increasingly popular in the global market owing to factors such as low-risk complications and benefits associated with reduced cost and shorter hospital stay. MI techniques are increasingly used to manage gastrointestinal diseases. Stenosis is the most commonly remedied by minimally invasive surgery performed using non-vascular stents. Gastrointestinal stent interventions are the minimally invasive procedures that do not involve blood vessels. Advances in surgical techniques and improvement in equipment handling are revolutionizing surgical procedures, including MI surgeries. Furthermore, the material used provides better flexibility, support, and tracking of the stent during the procedure.
Availability of new options for stent placement
The number of alternative options for stent placements has increased with the emergence of minimally invasive procedures. The different options available for stent placement are endoscopic placement, percutaneous placement, and fluoroscopic guidance. Endoscopic technique is more favorable with an improved survival rate, success rate, shorter hospital stays, and involves lower cost than convention procedures such as gastrojejunostomy or surgical bypass. Percutaneous placement of stents is a new technique that can be used when the endoscopic approach is unsuccessful or not suitable for patients. Fluoroscopic guidance is another option that can be used alone or in combination with an endoscopic method for the stent deployment. The emergence of these minimally invasive techniques over conventional surgical bypass method is expected to augment the demand for gastrointestinal stents in the global market during the forecast period.
Some of the other prominent vendors identified in this report are BVM Medical, ConMed, EndoChoice, Hobbs Medical, Merit Medical Systems, Olympus, and Surgimedik.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Gastrointestinal Stents Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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