New York, NY -- (SBWIRE) -- 12/23/2020 -- A stent is a medical device that was created for the sealing of any leaking/obstructing lesion or recanalization. A gastrointestinal stent plays an important role in the recanalization of GI tumors as well as postoperative leak sealing. Among all the models and materials used in stent manufacturing, SEMS (self-expandable metallic stents) are the most common type of stents used for gastrointestinal surgeries. Recently, a variety of stents have been developed and designed to enhance the efficiency of the surgical procedure, and many advancements are yet to come.
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Market Drivers
The global gastrointestinal (GI) stents market size was valued at USD 364.42 million in 2019 is estimated to surpass the valuation of USD 520.93 million, delivering a CAGR of nearly 5% through 2027. The market growth is driven by the growing prevalence of gastrointestinal diseases, along with a paradigm shift towards minimally invasive surgeries.
Key players operating in the gastrointestinal stent market are
Boston Scientific, Cook Medical, ELLA-CS, Olympus America, ConMed, Gore Medical, TaeWoong Medical, Hobbs Medical, C.R. Bard and Merit Medical Endotek.
Product Outlook (Revenue, USD Million, 2017 - 2027)
Biliary Stent
Duodenal Stent
Colonic Stent
Pancreatic Stent
Esophageal Stent
Material Outlook (Revenue, USD Million, 2017 - 2027)
Self-expanding Metal Stents
Plastic Stents
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Application Outlook (Revenue, USD Million, 2017 - 2027)
Biliary Disease
Colorectal Cancer
Stomach Cancer
Others
End-Use Outlook (Revenue, USD Million, 2017 - 2027)
Hospitals
Ambulatory surgical centers
Specialized Clinics
Regional Outlook (Revenue, USD Million, 2017 - 2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Regional Outlook
North America accounted for the largest share of the gastrointestinal market in 2017 and will show a notable CAGR through 2027. The increasing growth is attributed to the favourable medical reimbursement policies, increasing the adoption of minimally invasive surgeries along with a high rate of new GI disease cases. Asia Pacific is estimated to experience the fastest growth rate over the projected timeframe. The growth can be due to several factors, including a rise in the number of stomach cancer, growth of the medical tourism industry, along with the availability of advanced medical treatments at a cheaper cost, which is attracting more patients.
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