Non Vascular Stents Market to reach US$ 730.5 Million by 2025; Increasing Number of Obstructive Disease Patients is likely to Boost Market Growth

Non-vascular Stents are the special medical tubular devices which are used to relieve the luminal obstructions and strictures caused in different parts of body such as gastrointestinal tract, tracheobronchial tract and urinary tract. These are also used to hold open obstructed lumens during surgery by facilitating the free flow of body fluids and other contents. Non-vascular stents are made of metallic material; most commonly nitinol alloys and non-metallic synthetic polymers such as resins, polyurethane, and silicone materials. Metallic stents are available with the fully covered, partially covered and uncovered stents. Currently, Self-Expanding Metallic Stents (SEMS), are most commonly used for the palliation of malignant strictures and Self Expanding Plastic Stents (SEPS) are used for treatment of benign conditions also in some cases for palliation of malignant condition. Non-vascular stents are broadly classified into three sub segments: Pulmonology stents, Urology Stents, and Gastroenterology stents. These non-vascular stents are required by the hospitals, ambulatory surgical centers, academic medical institutions, long term palliative care centers, and clinical research organizations for research purposes.

According to the report, global Non-Vascular Stents Market was valued at US$ 475.0 Mn in 2016 and is projected to expand at a CAGR of 5.0% from 2017 to 2025 to reach US$ 730.5 Mn by 2025. This report offers a thorough understanding of Non-vascular Stents market across the globe its key trends, drivers, restraints, and opportunities.

Inquire for a sample Copy of Report – http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=27980

The non-vascular stents are primarily used for relieving the luminal obstructions caused due to benign as well as malignant conditions in different body parts such as ureteral tract, gastrointestinal tract, biliary and pancreatic tract, and airway tract. There has been continuous increase in gastrointestinal cancer patients worldwide including biliary and pancreatic cancer patients leading to luminal obstruction in gastrointestinal tract. Also kidney stone disease and benign prostatic hyperplasia in elder population is found to be one of the key causes of ureteral obstructions worldwide. The rapid increase in chronic obstructive pulmonary disease caused due to lung cancer and tracheobronchial malacia is observed globally. The increasing incidences of cancerous diseases leading to luminal obstructions is projected to boost the demand for non-vascular stents during forecast period 2017-2025. The technological development in stent designs, materials and minimally invasive stenting procedures using endoscopes minimizes the surgical complications etc. factors also contributes to boost the demand for non-vascular stents. On the other side, the alternative treatment options for relieving luminal strictures, high cost of metallic stents is likely to restrain the growth of non-vascular stents during forecast period.

The global non-vascular stents market has been segmented into four segments on the basis of product type, material, end-user, and geography. By product type, these are classified into pulmonology stents, urology stents, and gastroenterology stents. The gastroenterology stents are further sub-segmented into enteral stents and biliary and pancreatic stents. Out of these, the gastroenterology stents accounts for largest market share in non-vascular stents market and is projected to dominate the market share over forecast period. The biliary and pancreatic stents market is projected to hold largest market share in gastroenterology stents. High prevalence and incidence rates of gallstone disease in developed countries is projected to be key driving factor for the biliary and pancreatic stents. Also the high prevalence of colorectal and esophagus cancer patients worldwide would generate the demand for gastrointestinal stents over forecast period. The technological developments in stent designs, material composition and novel stent deployment techniques such as endoscopic ultrasound guided (EUS) stenting procedures is also projected to boost the demand for GI stents. Worldwide growing number of chronic obstructive pulmonary disease (COPD) patients due to lung cancer, tracheobronchial malacia, smoking, and exposure to harmful chemical is projected to drive the demand for pulmonology stents market in near future. The urology stents market is projected to expand at exponential growth rate over forecast period owing to increasing number of kidney calculi patients, and end-stage renal disease patients worldwide. A common trend of benign prostatic hyperplasia in elderly demographics is observed across the globe which is also one of the key driving factors for the ureteral stents during forecast period. This segment is projected to grow at CAGR of 6.9 % form 2017-2025, and is likely to gain its market share by the end of 2025. The ureteral stents are most commonly made of silicone and polyurethane material owing to high biocompatibility, radiopacity and are visible under ultrasound.

The End-user for non-vascular stents includes hospitals, ambulatory surgical centers and medical research institutes. The hospitals segment dominated the market share in 2016 and is projected to continue to hold largest market share by the end of 2025. The growth of hospital segment is attributed to increasing number of patients requiring long term treatment of high grade structures and supportive treatment facilities for the related disease. Also high healthcare expenditure per capita and well established healthcare infrastructure in developed countries would propel the hospitals segments business during forecast period. Ambulatory surgical centers is projected to grow at highest CAGR and is likely to gain its market share by the end of 2025. Increasing preference for minimally invasive procedures by both patients as well as doctors owing to shorter duration of stenting procedures and cost effectiveness is the key driving factor for the growth of ambulatory surgical centers. The other end-user accounts for small share of global non-vascular stents market and is likely to maintain steady growth rate during forecast period.

Geographically, the global non-vascular stents market is segmented into five regions: North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the market and is anticipated to gain its market share by the end of 2025. The growth of North America non-vascular stents market is attributed to well established healthcare infrastructure, high healthcare expenditure per capita, high incidence rates of obstructive diseased patients and favorable medical reimbursement policies by government as well as private players. Followed by North America, Europe is second leading contributor of global non-vascular stents market. Increasing number of hospitals, and ambulatory surgical centers, growing number of patients with obstructive disease would drive the growth of Europe non-vascular stents market. Asia pacific region is projected to expand at exponential growth rate owing to increasing cancerous patients leading to high grade strictures, emerging economies in countries like China and India, increased healthcare budgets by governments and increasing number of hospitals and day care surgery centers.

Major companies competing in the non-vascular stents market, and profiled in the report include Boston Scientific Corporation, C. R. Bard, Inc., Taewoong Medical Co., Ltd., Cook Group Incorporated, Abbott Laboratories, Olympus Corporation, Merit Medical Systems, Inc., ELLA – CS, s.r.o., Medi-Globe Corporation, M.I.TECH, Allium Medical Solutions Ltd., CONMED Corporation.

Read Report with Complete TOC – http://www.transparencymarketresearch.com/non-vascular-stents-market.html

Name: Rohit Bhisey
Organization: Transparency Market Research

ReleaseID: 8105