Selbyville, Delaware, Dec. 03, 2020 (GLOBE NEWSWIRE) --
According to latest report “Airway/Lung Stent Market By Product (Tracheal Stents, Bronchial Stents, Laryngeal Stents), Device Type (Self-expandable, Balloon-expandable), Material (Metal, {Stainless, Nitinol}, Silicone, Hybrid), Patient (Adult, Pediatric), End-Use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecasts 2026”, by Global Market Insights, Inc., the market valuation of airway stents will cross $348 million by 2026.
Increasing R&D investments by the public and private organizations for the development of non-vascular stent will stimulate the airway stent market growth. The design of non-vascular stent is improved since the commencement of investments made by the organizations. For instance, the U.S. FDA has approved 3D printed lung stent that has been developed to fit the patient’s airway. Several biodegradable stent and radioactive stent are also being developed through the investments made by public organizations on research and development. Countries such as Japan and the U.S. are making various efforts to improve their R&D facilities in order to develop technologically advanced non-vascular airway stent such as Bonastent and fully expandable Y-stent.
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Growing preference for minimally invasive surgeries for respiratory problems will uplift the airway/lung stent market revenue. The increasing incidences of respiratory disorders associated with lung cancer has led to an increased adoption of minimally invasive surgeries in order to avoid pain and incisions. In addition, minimally invasive surgeries are increasingly being preferred to treat the patients with congenital cystic adenomatoid malformations that caused difficulty in breathing. Therefore, airway stent is utilized to facilitate breathing in such patients. Moreover, placement of lung stent is cost-effective as compared to the surgeries and has reduced risk of complications, further augmenting the demand for airway stent.
Laryngeal airway stent market value was more than USD 6 million in 2019. The considerable share of the segment is due to the increased usage of laryngeal stent to expand the airway after surgical reconstruction. Laryngeal airway stent is also utilized to maintain lumen in management of laryngeal trauma or cancer resection. In addition, laryngeal stent provides soft support in laryngeal fracture, laryngeal stenosis & subglottic stenosis and is proven to be effective in the treatment of acute respiratory disorders pertaining to larynx.
Hospital segment held significant revenue share in 2019 and exceeded USD 88 million led by the high inflow and admission of patients suffering from chronic disorders. The number of admissions of patients in hospitals has increased due to the availability of large number of skilled medical professionals in hospitals, that is in-turn uplifting the demand for lung stent. Increasing number of public hospitals to provide cost-effective treatment to patients has also increased the adoption of airway stent.
Self-expandable airway stent market will register around 14.7% growth rate through 2026. Self-expandable airway stent is widely used in the management of central airway obstruction, benign tracheal stenosis, and post intubation tracheal stenosis. These stent have also proven to be effective in the treatment of respiratory disorders associated with advanced non-small cell lung cancer. Self-expandable airway/lung stent is largely used in the treatment of dyspnea. Moreover, self-expandable airway stent is also safe and effective to use post lung-transplantation.
Hybrid segment is anticipated to witness a growth of 15% during the forecast timeframe driven by the combined features of silicone and metal with a hydrophilic coating. Hybrid stent are covered with metallic stent that minimizes the shortcomings of silicone and bare metal stent. These stents cause minimal in-growth of granulation tissue and are easy to manipulate on insertion. Additionally, some of the hybrid stent have a small loop at the proximal end causing a partial collapse of the stent facilitating its easy removal.
With around USD 2 million revenue in 2019, Brazil dominated the Latin America airway stent market. The majority market share is owing to the rising number of patients suffering from airway complications. According to the National Center for Biotechnology Information (NCBI), chronic obstructive pulmonary disease (COPD) ranks as the sixth-most prevalent disease in Brazil. This can be attributed to the factor including massive burning of sugarcane leaves in the country causing COPD. As a result, people suffer breathing disorders that lead to the demand for airway stent in the country. In addition, approximately 40% of the Brazilian population is utilizing private or public company funded healthcare program, leading to rise in adoption of stent placement procedures.
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Adult segment is projected to expand at a CAGR of 14.7% in the coming years impelled by increasing prevalence of COPD in adult population due to smoking habit. Changing lifestyle and stress is leading to adoption of smoking habits by the adult population. According to the National Center for Biotechnology Information (NCBI), estimated overall prevalence of COPD for working adults between 40 to 70 years of age is around 4%. Thus, there is higher incidence of respiratory disorders in adults that require stent placement.
Some of the major players operating in the airway stent market are Boston Scientific Corporation, Hood laboratories, Micro-Tech (Nanjing) Co., Ltd., Novatech SA, Boston Medical Products, Inc., Merit Medical Systems, Inc., Cook Group, EFER ENDOSCOPY and Stening SRL, among others. These players are proposing strategic acquisitions, mergers, collaborations with innovative product launches in order to generate significant revenue in the market and increase their geographical presence.
Table of Contents (ToC) of the report:
Chapter 3 Airway/Lung Stent Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 – 2026
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By device type
3.4.3 By material
3.4.4 By patient
3.4.5 By end-use
3.5 COVID-19 impact analysis
3.6 Reimbursement scenario
3.7 Regulatory landscape
3.8 Technology landscape
3.9 Porters analysis
3.10 Competitive landscape, 2019
3.10.1 Competitive matrix analysis, 2019
3.11 Pestle analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.