According to the new market research report "Gastrointestinal Stent Market with COVID-19 Impact by Product (biliary stents, duodenal stents, colonic stents, pancreatic stents, and esophageal stents), Material (self-expanding metal stents and plastic stents), Application, End User - Forecast to 2026", published by MarketsandMarkets™, the global market is expected to reach USD 600 million by 2026 from USD 457 million in 2021, at a CAGR of 5.6% during the forecast period of 2021 to 2026.
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in-depth TOC on "Gastrointestinal
Stent Market"
197 – Tables
50 – Figures
223 – Pages
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The growth of this market is mainly attributed to
the rising prevalence of GI cancers and other digestive diseases, and changing
lifestyles, increasing healthcare expenditure on gastrointestinal procedures,
and increasing preference for minimally invasive surgeries. However,
complications associated with GI stenting procedures and High cost of the
procedure and limited reimbursement in developing countries are factors
expected to restrain the market growth. Moreover, the development of
biodegradable and drug eluting stents and booming healthcare sector in emerging
markets is expected to provide lucrative opportunities for the growth of the
market in the coming years.
Increasing
prevalence of bile duct cancer and chronic liver disease to drive the demand
for biliary stents.
Based on product, the gastrointestinal stent market
is segmented into biliary stents, duodenal stents, colonic stents, pancreatic
stents, and esophageal stents. The biliary stents segment accounted for the
largest share of 44.3% in 2020. The Esophageal Stents segment is estimated to
grow at the highest CAGR during the forecast period. The increasing prevalence
of bile duct cancer and chronic liver disease is one of the prominent factors
responsible for the growth of the biliary stents segment. Moreover, The
increasing incidence of biliary diseases and the growth in the number of
surgical procedures for the treatment of biliary diseases are the other major
factors that are expected to support the growth of this market segment during
the forecast period.
The
self-expanding metal stent segment will dominate the gastrointestinal stent
market, by material
Based on material, the GI Stent Market is segmented
into self-expanding metal stents and plastic stents. Self-expanding metal
stents are further sub-segmented into nitinol, stainless steel, and other metal
stents. Factors such as the increased demand for Self-expanding metal stents
due to advantages offered by these stents such as ease of insertion, a lower
possibility of dislodgment or migration, longer patency. Metal stents are
usually made of stainless steel, nitinol, cobalt-chromium, and
platinum-chromium with or without coating. Self-expanding metal stents are used
for the treatment of benign gastrointestinal leaks and perforations. These
stents act as a support to keep the gastrointestinal tract open and provide
easy unobstructed drainage of food and water.
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The
Gastrointestinal Cancers segment to register the fastest growth in the gastrointestinal
stent market, by application
Based on application, the GI Stent Market is
segmented into biliary diseases, irritable bowel syndrome, and gastrointestinal
cancers. The gastrointestinal cancers segment is further categorized into
colorectal cancer, stomach cancer, esophageal cancer, and pancreatic cancer.
The biliary diseases segment accounted for the largest share in 2020. The
gastrointestinal cancers segment is projected to have the highest CAGR during
the forecast period. The growth of this segment is attributed to the increased
prevalence and incidences of gastrointestinal cancers. For instance, according
to a report by the American Cancer Society, Colorectal Cancer Facts &
Figures 2020-2022, in 2020, there were an estimated 104,610 new cases of colon
cancer and 43,340 cases of rectal cancer diagnosed in the US
The
hospitals and clinics segment accounted for the largest market share in 2020
Based on end users, the gastrointestinal stent
market is segmented into hospitals and clinics and ambulatory surgical centers.
The hospitals and clinics segment accounted for the largest share of in 2020.
The large share of this segment can be attributed to the large number of
endoscopic retrograde cholangio-pancreatography (ERCP) and percutaneous
transhepatic cholangiography (PTC) procedures performed in hospitals for
different disease indications, favorable reimbursement scenarios, and increased
government initiatives to provide quality treatment for gastrointestinal
diseases.
North
America was the largest regional market for
Gastrointestinal Stent market in 2020
The Gastrointestinal Stents market is segmented into
five major regions, namely, North America, Europe, Asia Pacific, Latina America,
and the Middle
East and Africa. In 2020, North America accounted
for the largest share. The large share of North America in the global
market is attributed to the rising geriatric population, high incidence of
gastrointestinal diseases, favourable reimbursement scenario, and presence of
key market players. Some of the major players in this market are Boston
Scientific Corporation (US), C.R. Bard (US), Becton, Dickinson and Company
(US), Merit Medical Systems (US), CONMED Corporation (US), Cook Medical (US),
Cantel Medical (US), and Hobbs Medical (US).
Some of the prominent players in this
Gastrointestinal Stent Market are Boston Scientific Corporation (US), Cook
Group (US), Medtronic plc. (Ireland),
ELLA-CS, s.r.o. (Czech
Republic), Becton, Dickinson and Company (US), Merit Medical
Systems (US), CONMED Corporation (US), Cantel Medical (US), Olympus Corporation
(Japan),
Taewoong Medical (South
Korea), Micro-Tech(Nanjing) Co., Ltd. (China),
Endo-Flex GmbH (Germany),
MI-Tech (South
Korea), Hobbs Medical Inc. (US), QualiMed (Germany),
UK Medical (UK), CITEC (China),
Medorah Meditek Pvt. Ltd. (India),
BCM Corporation (South
Korea), and Leufen Medical GmbH (Germany).
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2026
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