LONDON, Nov. 28, 2017 /PRNewswire/ — Non-vascular Stents Market Analysis By Product [Gastrointestinal (Biliary, Duodenal, Colonic, Pancreatic, Esophageal Stents), Pulmonary, Urological Stents], And Segment Forecasts, 2014 – 2025
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The global non-vascular stents market is anticipated to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc.
The market is expected to witness lucrative growth during the forecast period due to technological advancements in the non-vascular stents and rise in adoption of minimally invasive surgeries across the world.
Technological advancements such as development of radioactive & biodegradable stents, advanced stent designs & change in material composition, and newer stent placement techniques, such as Endoscopic Ultrasound-guided (EUS) stenting, are expected to help in growth of the non-vascular stents market over the forecast period. Various materials such as metallic stents, made from alloys include nitinol, silicone & nitinol, stainless steel, and elgiloy(cobalt-chromium-nickel Alloy) and nonmetallic stents, made from synthetic polymers such as resins, polyurethane, and silicone, are used as per requirement as they offer different features.
Due to high adoption of minimally invasive techniques, such as nonvascular stenting, by healthcare professionals the market is expected to grow. This can be attributed to the various advantages such as smaller incisions, rapid wound healing, and reduced pain & surgical scars. Smaller incisions and surgical wounds result in lesser complications, which significantly reduces the overall surgery cost. Moreover, minimally invasive surgeries result in reduced hospital stay, which ultimately lowers the risk of hospital-acquired infections in patients. This helps reduce the overall healthcare expenditure of patients.
Further Key Findings From the Study Suggest:
• The urological stents segment held a lucrative market share in 2016 owing to worldwide increase in demand for ureteral, and prostate stents, which can be attributed to the surge in number of kidney transplants, ureteroscopy, ureterorenoscopy, lithotripsy, and schistosomiasis procedures
• The gastrointestinal stents segment is expected to register highest growth over the forecast period owing to surge in the number of cases of gastrointestinal cancer, such as cancer of the esophagus, stomach, gallbladder, small intestine, pancreas, liver, bowel, and anus
• North America is expected to dominate the market during the forecast period owing to the local presence of major market players and robust healthcare infrastructure coupled with high prevalence of gastrointestinal cancer in the U.S. & Canada
• Some of the key players in the market are Medtronic; C. R. Bard, Inc.; Boston Scientific Corporation; ELLA – CS, s.r.o.;