Gastrointestinal Stents Market (Product Type - Esophageal Stents, Duodenal Stents, Colonic Stents, and Biliary/Pancreatic Stents; Stent Type - Metal Stents, Plastic Stents, and Biodegradable/Drug Eluting Stents; Application - Gastrointestinal Obstructions, Colorectal Cancer, and Inflammatory Bowel Disease; End User - Hospitals, Specialty Clinics, and Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 07/11/2017 -- The global Gastrointestinal Stents Market was valued at US$ 356.7 Mn in 2016 and is expected to grow at a high CAGR of 4.4% from 2017 to 2025, to reach an estimated value of US$ US$ 522.8 Mn in 2025. The report on global gastrointestinal stents market has been classified on the basis of five categories product type, stent type, application, end-user, and geography (regions & countries). Major product segment included are esophageal stents, duodenal stents, colonic stents and biliary/pancreatic stents. In term of stent type products divided into metal stent, plastic stent and biodegradable/drug eluting stents. The report offers a detailed description behind the steady growth rate of the market and a possible growth trajectory at the global as well as regional level in terms of value and the market share for each gastrointestinal stents segment. The report is thus, compiled with the prime intent of updating the stakeholders with the incumbent market dynamics through a graphical illustration and in-depth analysis of each segment considered within the study scope.
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Based on product type of gastrointestinal stents, biliary/pancreatic stents remained the key contributor towards the global gastrointestinal stents market, which accounted for approximately 51.7% of the global market in 2016. Biliary stents are used to manage bile leaks. These stents are made of either plastic or metal, and placed to provide internal drainage and avoid the use of external catheter. These are used to treat tumors of the bile duct or pancreas that obstruct the common bile duct. Increasing retrograde cholangiopancreatography procedures and rising need for stenting in these procedures drive the growth of biliary/pancreatic stents segment. Esophageal stents are the second leading revenue contributor for the global gastrointestinal stents market, which accounted for 19.6% of the global market in 2016. Product developments that enable smooth, fast procedure for both the physician and patient, and increase in incidence of diseases associated that requires gastrointestinal stents are expected to fuel the growth of this segment.
Based on end-user segment, hospitals held the largest share among the major end-user categories accounting for more than 71.5% share of the global gastrointestinal stents market in 2016. Hospitals have remained the most preferred choice for gastrointestinal disease treatments with minimally invasive surgeries. Factors such as rising endoscopic procedures for different disease indications and increased need for stenting in endoscopic procedures drive the market growth of this segment. High demand in gastrointestinal diseases related minimally invasive surgeries and growing awareness about gastrointestinal stents products are the key factors fueling the growth of the segment. Hospitals are followed by specialty clinics which accounted for 16% share of global market in 2016. Rising preference for specialty clinics in among patients with gastrointestinal diseases is the key factor driving the segment growth. Also, the segment is expected to register rapid growth due to increasing popularity, especially among developed countries such as the U.S., Germany and the U.K. Ambulatory surgical centers is the third leading end-user segment for global gastrointestinal stents market.
The key players operating in the gastrointestinal stents market are Boston Scientific Corporation, Becton, Dickinson and Company, C. R. Bard, Inc., W. L. Gore & Associates, Inc., Cook Medical, Taewoong Medical Co., Ltd., Merit Medical Systems, Inc., ELLA-CS, s.r.o., CONMED Corporation, Olympus Corporation, and S&G Biotech Inc. The global gastrointestinal stents market is fragmented with presence of few large and small scale vendors that operates global market. However, the global market is dominated by two major players.
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