Usage of Esophageal Stents Rising on Back of Increasing Minimally-invasive Surgical Procedures Carried Out across the World: Fact.MR Study

Growing Usage of Self-Expandable Metallic Stents In The Treatment Of Malignant & Benign Disorders; Development Of Novel Technologies For Gastrointestinal Procedures, Such As Bioabsorbable Stents; And Increasing Adoption Of Anti-Reflux Esophageal Stents Are Factors Driving Market Expansion

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South Korea, Seoul, Sept. 14, 2022 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, global demand for esophageal stents is expected to increase at a CAGR of 5.6% over the forecast period (2022-2027).

Market expansion is attributed to the rising number of people suffering from esophageal cancer and other diseases, increasing geriatrics around the world, changes in people's lifestyles, and the need for more efficient treatment to lower the risk of complications.

Demand for esophageal stents is also rising as a result of technological advancements, such as the creation of bioabsorbable stents and stents composed of nitinol materials with great flexibility and kink resistance. The market is also expected to be fueled by the rising demand for minimally-invasive surgical treatments.

Hospitals provide superior care because they have access to trained medical staff and nursing staff who can provide quality care. Furthermore, the number of stenting procedures will rise as a result of a growing sedentary lifestyle, poor diet, and unhealthy habits, including smoking, drinking, and using cigarettes. It is anticipated that market revenue for esophageal stents will be boosted by increased attention to modernizing the healthcare infrastructure.

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The development of technologies such as biochips, stent strut design, and increased use of advanced software applications for monitoring stent movement during therapy is projected to drive the demand for self-expandable metallic stents.

New Market Players Focusing on Launch of Innovative Products to Meet Varied Patient Needs

Many medical problems make it difficult for individuals to swallow because they restrict a section of the esophagus. Esophageal stents allow food and liquids to pass by opening the esophagus. Start-ups are working on stents that can adjust and fit the anatomy of each patient.

A new entrant based in the U.S. called Thoracent offers pulmonology-specific medical equipment. BONASTENT is a self-expanding metallic esophageal stent produced by the company. It has a nitinol hook and cross-wire design that allows for anatomical customization. Its radial and returning forces are also ideal for great conformability.

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Key Takeaways from Market Study

  • The global esophageal stents market is anticipated to reach US$ 105 million by 2027.
  • Market in Canada is expected to increase at a CAGR of 4.7% through 2027.
  • Market in Japan is projected to expand at a CAGR of 3.5% over the forecast period.
  • Demand for esophageal stents in specialty clinics is expected to rise at a CAGR of 5.3% from 2022 to 2027.

Segments of Esophageal Stents Industry Research

  • By Product :
    • Self-expandable Metallic Stents
    • Self-expandable Plastic Stents
  • By End User :
    • Hospitals
    • Specialty Clinics
    • Ambulatory Surgery Centers
  • By Region :
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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Winning Strategy

Key market participants are concentrating on implementing advanced technologies and features in their products. Top companies are concentrating on strategic initiatives such as the creation of novel products through customization by consumer needs to expand their product portfolios and solidify their leading positions in the business.

For instance,

  • Olympus introduced self-expanding metal stents for patients with a limited lifespan or those who have a malignant colonic or duodenal blockage.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global esophageal stents market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.

The study divulges essential insights on the market on the basis of product (self-expandable metallic stents, self-expandable plastic stents) and end user (hospitals, specialty clinics, ambulatory surgery centers), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

Check out more related studies published by Fact.MR Research: 

Esophageal Obturator Airway Kit Market:The global market for esophageal obturator airway kit is highly fragmented with local player holding significant market share during the forecast period. The Esophageal Obturator Airway Kit market creates great opportunity to expand their wings. Manufacturers are indulge in continuous development of esophageal obturator airway kit components such as tubes, masks, and others. Promising revenue growth considered is expected for the esophageal obturator airway kit market during the forecasted period.

Transesophageal Echocardiography Market: Increasing incidence of heart or blood vessel disease and technological advancement are the major factors expected to accelerate the growth of transesophageal echocardiography market over the forecasting periods. Due to the growing popularity manufacturers of transesophageal echocardiography are actively focusing on investing more in the development of new technological advance transesophageal echocardiography products in order to meet the global demand.

Biliary Stents Market: The global market for biliary stents is anticipated to progress at a CAGR of 5% and increase from a market valuation of US$ 315.4 million in 2022 to US$ 402.5 million by the end of 2027. The hospitals segment is expected to expand faster at a CAGR of 6%; this can be attributed to high patient intake capability and the presence of advanced & latest technologies in these settings.

Dual Therapy Stent Market: Cardiovascular diseases around the world have observed an alarming growth in recent years. According to WHO, 17.9 million people die due to coronary heart diseases (heart attacks) and cerebrovascular (strokes) every year. Demand for dual therapy stent in Europe is likely to remain concentrated in UK, France, Germany, Spain, and Italy. The robust healthcare system in these countries is likely to provide an impetus to dual therapy stent market growth in these countries, and also in Europe overall.

Coronary Stent Grafts Market: The global market for coronary stent grafts is expected to witness moderate growth over the forecast period. Metal coronary stent grafts are expected to be a dominant segment in the global coronary stent grafts market over the forecast period. Among all different types of coronary stent grafts, bioresorbable vascular scaffold type to hold significant share in the global coronary stent grafts market.

Bio-Engineered Stent Market: Rapidly increasing incidence as well as prevalence of the cardiovascular diseases in developed as well as developing world expected to be the major driving factor in the bio-engineered stent market. Increasing early diagnosis rate of CVD through scheduled body checkup subsequently increases treatment seeking rate which in turn expected to drive the growth of the bio-engineered stent market.

Endovascular Stent market: The global endovascular stent market manifests a considerable growth during the forecast period owing to rise in prevalence of cardiovascular complications. Based on the product, the endovascular aneurysm repair (EVAR) stent segment hold the largest share owing to the technological advancement in the surgical devices anticipated the rising demand for the EVAR stents in the global endovascular stent market.

Iliac Artery Stents Market :  An iliac artery stent is small wire mesh which is used to treat the patient suffering from cardiovascular disorder. Iliac artery stent has its crucial application in holding open the iliac artery for the patent suffering from arteriosclerosis. Generally, iliac arteries are of two types, internal and external iliac arteries. The major role of the iliac artery is to carry blood from the heart to pelvis and legs. Atherosclerosis is a severe disease which affects the blood vessels such as iliac artery.

Arterial Stents Market : According to the latest analysis and report published by Fact.MR, the demand for arterial stents market is likely to grow at a steady pace between 2021 and 2031. Sensing the opportunities, key players are relying on innovations, sustainability, and product development to gain a major share in the market. For instance, in April 2021, BIOTRONIK announced the launch of its newest suite of tools for the more specialized implanting procedures in the His-bundle cardiac conduction system. The company plans to present the tools to cardiologists of the European Heart Rhythm Association’s (EHRA) online congress.

Coronary Stents Market : Global sales of coronary stents were valued at around US$ 10.1 Bn in 2020. The global coronary stents market is projected to register 12.9% CAGR and reach a valuation of US$ 25.7 Bn by the end of 2028. Increasing consumption of drug eluting stents, which contribute around 80% share to the overall market size, is significantly driving market expansion.

Bioabsorbable Stents Market : The bioabsorbable stents market is predicted to grow at a moderate CAGR of 9.6% through 2032. The bioabsorbable stents market share is estimated to reach a value of nearly US$ 1 Billion by 2032 from US$ 372 Million in 2021. The benefit of such stents is their disintegrating within the body within a definite time period that has effected it as the most preferred mode of treatment, propelling the bioabsorbable stents market opportunities in the healthcare sector.

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