Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) --
Lung Stent Market size is poised to be worth USD 523 million by the end of 2032. The emerging trend of minimally invasive techniques for treating respiratory conditions like COPD and lung cancer is driving the demand for lung stents.
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As per reports, in 2023, about 238,340 people in the U.S. were estimated to be diagnosed with lung cancer, with new cases occurring every 2.2 minutes. This rapidly expanding patient pool is surging the need for minimally invasive lung stent placement for offering benefits, such as shorter hospital stays, quicker recovery times, and reduced risks of complications. Furthermore, innovations like biodegradable stents, drug-eluting stents, and improved deployment techniques are leading to enhanced efficacy and safety of lung stents. Growing advancements for better patient outcomes, reduced complications, and longer stent longevity.
Bronchial stents to witness high demand
Lung stent market from the bronchial stents product segment is projected to garner notable expansion during 2023-2032 owing to the rising prevalence of chronic respiratory diseases and lung cancer. Bronchial stents are crucial for managing airway obstructions and improving lung function. Technological advancements, such as the development of drug-eluting stents, are also enhancing their effectiveness in treating various conditions. Moreover, the growing aging population and the increasing awareness about minimally invasive treatments.
Growing use at ASCs
The lung stent market from ambulatory surgical centers (ASCs) is anticipated to generate substantial revenue between 2023 and 2032 due to their efficiency, cost-effectiveness, and increasing preference for outpatient procedures. ASCs offer quick access to minimally invasive lung stent placement procedures, further reducing hospital stays and associated costs. Patients are also benefitting from shorter recovery times and limited infection risks. With the ongoing expansion of ASCs, especially in developed regions like North America and Europe, the demand for lung stents will further rise.
Asia Pacific to emerge as a lucrative market
Asia Pacific lung stent market is set to expand at a notable growth rate through 2032 due to the rising cases of respiratory disorders, increased smoking prevalence, and an aging population across the region. Countries, such as China, India, and Japan are largely contributing to growing healthcare expenditures and the rising demand for minimally invasive procedures. The presence of major players focused on expanding their business will further enhance the regional market competitiveness. For instance, in November 2023, Broncus entered an equity transfer agreement to acquire a 100% stake in Hangzhou Jingliang, a Chinese device firm, in order to extend its interventional diagnosis and treatment range for lung illnesses.
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Lung Stent Market Participants
Some of the major lung stent industry players include Hood Laboratories, Boston Scientific Corporation, Merit Medical Systems, Inc., Micro-Tech (Nanjing) Co., Ltd., Novatech SA, Taewoong Medical Co Ltd., and Cook Group. These companies are enhancing their treatment options for respiratory conditions through proactive initiatives to sustain the rising competition.
For instance, in December 2023, Terumo, a Japanese manufacturer, debuted the Ultimaster Nagomi stent in India. The new stent has a bioresorbable polymer covering that progressively dissolves after permitting efficient medication administration for avoiding restenosis.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Lung stent industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Product trends
2.5 Device type trends
2.6 Material trends
2.7 Patient trends
2.8 End-use trends
Chapter 3 Lung Stent Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising prevalence of lung cancer
3.2.1.2 Growing incidence of COPD and post-tuberculosis stenosis
3.2.1.3 Increasing investments by the public and private organizations for the development of non-vascular stents
3.2.1.4 Growing preference for minimally invasive surgeries for respiratory disorders
3.2.2 Industry pitfalls & challenges
3.2.2.1. Availability of alternative substitute treatment
3.2.2.2. Stringent regulations
3.3 Growth potential analysis
3.3.1 By product
3.3.2 By device type
3.3.3 By material
3.3.4 By patient
3.3.5 By end-use
3.4 COVID- 19 impact analysis
3.5 Regulatory Landscape
3.5.1 U.S
3.5.2 Europe
3.6 Reimbursement scenario
3.7 Pricing analysis, 2022
3.8 Technology landscape
3.9 Future market trends
3.10 Porter’s analysis
3.11 PESTEL analysis
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