According to estimates, the non-vascular stents industry will be valued US$ 1.21 billion in 2022 and is projected to rise at a 4.5% compound annual growth rate (CAGR) until 2032, when sales are anticipated to reach US$ 1.9 billion. The increasing demand for less invasive procedures is projected to fuel growth in the non-vascular stent market globally. The development of stents specifically intended for use in a range of indications is being aided by emerging material and technological advancements, which is driving the expansion of the non-vascular stents market overall.
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Non-vascular stents use small, precise incisions, resulting in scars that are smaller and less visible than those left by traditional surgical techniques, putting the patient’s safety in jeopardy.
The above-mentioned feature is anticipated to provide impetus to the non-vascular stents market adoption trends in coming years.
Such a surgery is associated with a faster recovery period, resulting in a shorter hospital stay for the patient, encouraging many to opt for the same.
Furthermore, patients are less likely to contract hospital-acquired illnesses like bloodstream infections and urinary tract infections if they stay in the hospital for a shorter period of time, in turn, propelling the demand for non-vascular stents.
The most visible and prominent factor spiking the sales of non-vascular stents is a surge in cases of chronic obstructive pulmonary disease (COPD), which is caused by smoking, lung cancer, tracheobronchial malacia, and chemical exposure.
Numerous innovations are taking place in the non-vascular stents market as new medical devices are developed to track gastrointestinal tract, urinary tract, and airway tract.
Non-vascular stents market trends are fostered by rising healthcare spending in developing countries, government and private insurance companies’ helpful medical reimbursement policies, and the proliferation of hospitals and ambulatory surgical centers.
The non-vascular stents market is segmented by product type and by region, where by product type, the market is divided into gastrointestinal stents, pulmonary stents, urological stents, and others.
And by region, the non-vascular stents market is categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Key Takeaways:
- Based on product type, the urological stents segment is likely to dominate the non-vascular stents market with a CAGR of 4.3% through 2032.
- The US non-vascular stents market is expected to capture a sizeable non-vascular stents market share accounting for around US$659.1 million by 2032.
- By 2032, the UK non-vascular stents market is expected to be valued at US$ 80.6 million, growing at a CAGR of 3.3%.
- With a CAGR of 3.6% during the forecast period, China non-vascular stents market size is predicted to be apprised at US$ 128.1 million by 2032.
- The Japan non-vascular stents market, with a CAGR of 3.9%, is projected to garner a worth of US$ 109.8 million by 2032.
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Competitive Landscape:
Some of the leading non-vascular stents companies include Medtronic plc, Glaukos Corporation, Boston Scientific Corporation, ELLA – CS, s.r.o., CONMED Corporation.
One of the recent developments in the non-vascular stents market is when Medtronic acquired Medicrea, a fully dedicated spinal implant company focused on bringing reliable and cutting-edge technology to the global market.
Key Segments
By Product:
- Gastrointestinal Stents
- Biliary
- Duodenal
- Colonic
- Pancreatic
- Oesophageal Stents
- Pulmonary Stents
- Silicone Airway
- Metallic Airway
- Urological Stents
- Others
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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