3rd September 2019 – The global Non-Vascular
Stents Market size is expected to value at USD 1.4 billion by 2025. The
market is subject to witness a substantial growth due to the increase in
geriatric population, upsurge in incidences related to chronic disorders, and
rise in healthcare expenditure by local governments. Furthermore, growing
importance towards minimally invasive surgeries across the globe is expected to
drive growth of the market in upcoming years.
Increasing incidences related to the
gastrointestinal cancer across the globe, is further propelling demand for
non-vascular stents. Increase in the number of patients diagnosed with cancer
are significantly influencing growth of the market. Globally, the market is
predicted to grow at CAGR of 5.1% in forecast period, providing numerous opportunities
for market players to invest for research and development in the non-vascular
stents industry.
Geriatric population is more susceptible
towards chronic diseases including lung cancer, pancreatic cancer, colorectal
cancer, and other diseases such as stroke, asthma. Subsequently, increasing
incidences related to chronic obstructive pulmonary disorders (COPD), chronic
pancreatitis, prostate cancer, and glaucoma, are responsible for rising demand
of non-vascular stents.
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As per reports by World Health
Organization (WHO), geriatric population is expected to reach two billion by
2050. Additionally, recent statistics presented by the American Cancer Society
showcases as many as thirty thousand individuals suffering from stomach cancer
in the North America region only. These factors are expected to fuel growth of
the non-vascular stents market in coming years.
Rising adoption of the minimally
invasive techniques such as nonvascular stenting is fueling the market growth
of non-vascular stents. The minimally invasive techniques performed by tiny
incisions instead of one large opening as they offer advantages such as quicker
recovery times and less discomfort over traditional surgery. Additional
advantages associated with adoption of minimally invasive techniques includes
reduced pain during the surgery and minimum surgical scars. Reduction in the
overall operational cost in comparison with traditional surgery techniques due
to smaller incisions and minimum side effects, are propelling the demand of
non-vascular stents industry.
The non-vascular stents market is
majorly categorized into different market segments such as gastrointestinal
stents segment, pulmonary, and urological stents segment. The gastrointestinal
stents segment is considered as one of the fastest growing segment in the non-vascular
stents industry with highest revenue generation in recent years. The
gastrointestinal segment is further classified into different types such as
biliary, pancreatic, and esophageal stents. Similarly, the pulmonary stents are
also categorized into various types including silicone airway and metallic
airway stents. Growing popularity of the urological stents segment is credited
to the rise in occurrence of ureteral disorders such as renal calculi, kidney
stone, urinary tract infections, and prostate cancer.
Non-vascular stents are commonly termed
as a set of instruments that are specially designed for performing for a number
of tasks involving biliary, bronchial and tracheal implantations. Rising
application of the non-vascular stents is driving growth of the market.
Non-vascular stents are utilized in order to improve prime patency in arteries
and veins, which is commonly located at the site of stenotic. Non-vascular
stents are classified into two common types such as balloon-expandable (BE) and
self-expandable (SE).
The market is divided into regional
market segment such as North America, Europe, Asia-Pacific, Latin America and
Africa. North America and Europe have shown major growth in recent years owing
to the rise adoption of latest methodologies for the treatment of chronic
diseases and existence well-established healthcare infrastructure. Asia-Pacific
region is predicted to hold major market share in the non-vascular stents
market with massive growth in forecast period. Countries such as India, China
and Singapore are leading the Asia-Pacific market with favorable government
initiatives for use of such medical devices, rising geriatric population, and
increasing healthcare expenditure.
The key players in the non-vascular
stents industry are Medtronic Co., C. R. Bard Incoporations, Boston Scientific
Co., Ella Co., Conmed Co., Hobbs Medical Incorporations, Cook Medical Co.,
Taewoong Medical Corporations, Synchron Med Incorporations, and Glaukos Co.
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