According to IMARC Group's latest research report, titled "Gastrointestinal Stents Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights into the gastrointestinal stents market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global gastrointestinal stents market size reached US$ 409.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 508.6 Million by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.
Gastrointestinal Stents Market Outlook:
Gastrointestinal stents represent artificial tube grafts that are inserted in the body to control blockages from cancerous tissues in the small intestines, gullet, and stomach. Some of the common product types include biliary, duodenal, colonic, pancreatic, esophageal, etc. These gastrointestinal stents are expandable and aim to remove obstructions and reduce the pressure caused by inflammation and allow the patients to lead a normal life. Consequently, they find extensive applications in hospitals, specialty clinics, ambulatory surgical centers, etc.
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Gastrointestinal Stents Market Growth:
The growing prevalence of colorectal cancer across countries and the expanding geriatric population suffering from gastrointestinal diseases, including bowel ailments, diverticulosis, and gastrointestinal malignancies, are primarily driving the gastrointestinal stents market. Apart from this, the shifting preferences among patients and medical practitioners toward minimally invasive (MI) surgical procedures that involve low risk of infections, less scarring and pain, quick recuperation period, and minimal loss of blood as compared to traditional methods are also positively influencing the global market. Moreover, the inflating expenditure on research and development (R&D) activities for technological advancements and the introduction of bio-absorbable and nitinol material-based stents that offer a high degree of flexibility and kink resistance are acting as significant growth-inducing factors. In line with this, the development of biodegradable, drug-eluting, and radioactive stents is further augmenting the market growth. In addition to this, the increasing strategic collaboration among key market players and the launch of numerous favorable policies by government bodies, especially in developing countries, to improve healthcare infrastructure are projected to bolster the gastrointestinal stents market over the forecasted period.
Key Market Segmentation:
Competitive Landscape:
Becton
Dickinson and Company
Boston Scientific Corporation
Cantel Medical Corporation
Conmed Corporation
Cook Group Incorporated
ELLA-CS,
S.R.O.
Hobbs Medical Inc.
Merit Medical Systems Inc.
Olympus Corporation
Taewoong Medical Co. Ltd.
Breakup by Product Type:
Biliary Stents
Duodenal Stents
Colonic Stents
Pancreatic Stents
Esophageal Stents
Breakup by Technology Type:
Anti-Migratory Stents
Drug-Eluting Stents
Radioactive Stents
Anti-Reflux Stents
Shape-Modified Stents
Others
Breakup by Material:
Plastic Stents
Self-Expanding Metal Stents
Stainless Steel Stents
Nitinol Stents
Others
Covered Self-Expandable Metallic Stents
Biodegradable or Drug Eluting Stents
Breakup by End User:
Hospitals
Specialty Clinics
Ambulatory Surgical Centres
Others
Breakup by Region:
North America (United States, Canada)
Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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