A gastrointestinal stent is a cylindrical medical device primarily used as a safe and effective alternative to surgery or repetitive endoscopic procedures to widen a narrow or stenosed lumen in order maintain the patency of the lumen. The increasing preference for minimally invasive surgeries and rising prevalence of GI cancers and other digestive diseases are the major factors driving the growth of the global market.
The gastrointestinal stent market is expected to reach USD 452.6 Million by 2022 from USD 337.5 Million in 2016, at a CAGR of 5.1% during the forecast period.
Gastrointestinal stent market, by product, material, disease type, end user, and region. Based on product, the biliary stents segment accounted for the largest share of global market in 2016. This can be attributed to the high prevalence of pancreatic cancer and biliary diseases as well as the growth in the number of surgical procedures for the treatment of these diseases.
Based on material, the self-expanding metal stents segment accounted for the largest share of the global gastrointestinal stent market in 2016. The large share of this segment can be attributed to their ease of insertion, a lower possibility of dislodgment or migration, its longer patency because of the large luminal diameters, high longevity, and large use of it in interventional endoscopy for various malignant obstructions.
Region
Geographically, the global gastrointestinal stent market has been segmented into five major regional segments North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2016, North America accounted for the largest share of the global market in 2016, followed by Europe and Asia Pacific. The highly developed healthcare system, rising geriatric population, growing adoption of technologically advanced stents, and the presence of key players are the major factors responsible for the large share of North America in the global market.
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Leading Companies
The prominent players in the global gastrointestinal stent market are Boston Scientific (US), Cook Group (US), C.R. Bard (US), ELLA-CS (Czech Republic), Becton, Dickinson and Company (US), Merit Medical Systems (US), CONMED (US), Cantel Medical (US), Olympus (Japan), Taewoong Medical (South Korea), Micro-Tech (China), Endo-Flex (Germany), M.I. Tech (South Korea), and Diagmed Healthcare (UK).