Dublin, Feb. 29, 2024 (GLOBE NEWSWIRE) -- The "Gastrointestinal Stents Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The Global Gastrointestinal Stents Market is anticipating a period of significant growth, projected to expand at a CAGR of 5.38% through 2028, offering new opportunities for advancements in the medical device sector.
Valued at USD 462.75 million in 2022, this market is driven by the escalating prevalence of gastrointestinal conditions, a growing preference for less invasive procedures, and a considerable increase in the elderly population worldwide.
Rising Rates of Gastrointestinal Issues Fuel Market Growth
The rising incidence of gastrointestinal disorders, such as colorectal cancer, is a primary factor propelling market growth. With early detection through improved diagnostics, the demand for gastrointestinal stents as treatment aids continues to accelerate. This increased need is further stimulated by an aging society that is more prone to gastrointestinal complications, necessitating the integration of stents for various medical interventions.
Advances in Technology Enhance Market Potential
Continual technological innovations have resulted in stents that are more efficient, patient-friendly, and adaptable. Noteworthy trends include the advent of biodegradable stents, eliminating the need for post-treatment removal, and drug-eluting stents that deliver medications to the treatment site. Such innovative solutions are redefining stent applications, offering patients improved outcomes while facilitating an uptick in market growth.
Minimally Invasive Procedures: A Catalyst for Expansion
Minimally invasive procedures have become the gold standard in patient care, with gastrointestinal stent implementation at the forefront. Reduced recovery times, decreased risks of complications, and smaller incisions contribute to a heightened preference for these procedures among both healthcare providers and patients.
Regional Market Dynamics
North America, particularly the United States, stands as a dominant force within the Global Gastrointestinal Stents Market. The region's sophisticated medical device industry, coupled with an increased prevalence of gastrointestinal diseases and favorable insurance frameworks, supports this significant market share.
Competitive Landscape and Market Segmentation
- Biliary stents take the lead in product type segmentation, given their efficacy in treating common biliary disorders and their enhanced design through R&D investments.
- Colorectal cancer applications are predicted to see noteworthy growth, correlating with the rising global incidence and heightened awareness surrounding early cancer detection and treatment.
- Geographically, the market spans across key regions that include North America, Europe, Asia-Pacific, South America, and the Middle East & Africa, with each area exhibiting unique market dynamics.
Challenges and Considerations
Despite potential growth, the market faces challenges, such as the risks of stent-related complications and the economic barriers associated with gastrointestinal stent placements. Long-term placement can also present issues, necessitating ongoing medical attention.
The Global Gastrointestinal Stents Market report provides a comprehensive analysis of these dynamics, offering insights into product types, applications, regional market analyses, and company profiles of major industry participants. This detailed research presents valuable data for stakeholders across the healthcare sector. With increased awareness, progressive technology, and a focus on patient-centered approaches, the Global Gastrointestinal Stents Market is set to make a substantial impact on the way gastrointestinal disorders are treated, leading to continued growth and innovation in the coming years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 172 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $462.75 Million |
| Forecasted Market Value (USD) by 2028 | $629.58 Million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Report Scope:
In this report, the Global Gastrointestinal Stents Market has been segmented into the following categories:
Gastrointestinal Stents Market, By Product Type:
- Biliary Stent
- Colonic Stent
- Duodenal Stent
- Esophageal Stent
- Pancreatic Stent
Gastrointestinal Stents Market, By Application:
- Biliary Disease
- Colorectal Cancer
- Stomach Cancer
- Inflammatory Bowel Disease
- Others
Companies Profiled
- Boston Scientific Corporation
- Cook Group Inc
- Becton Dickinson & Co Ltd
- CONMED Corporation
- Cantel Medical LLC
- ELLA-CS, s.r.o.
- Hobbs Medical Inc.
- Merit Medical Systems, Inc.
- Olympus Corp
- Diagmed Healthcare Ltd
For more information about this report visit https://www.researchandmarkets.com/r/bto2g9
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