During the forecast period, the non-vascular stents market is expected to increase at a CAGR of about 5.2%.
Growing geriatric population, incidence of chronic and other illnesses, and technical advancements in non-vascular stents for increased demand for non-vascular stents market are some of the reasons driving non-vascular stents market growth.
With rapid technological advancement, increase in the aging population, and rising prevalence of cancer and urolithiasis.
The non-vascular stents market is expected to have a healthy growth rate in the forecast period.
Over the forecast period, the sales of non-vascular stents market are expected to rise due to rising demand for less invasive procedures.
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Non-Vascular Stents use tiny, precise incisions that result in fewer and smaller visible scars than traditional surgical treatments.
These operations also result in a speedier recovery period, shortening the length of a patient’s stay in the hospital hence increasing the demand for non-vascular stents market.
Patients with a shorter hospital stay are less likely to obtain hospital-acquired infections (HAIs), such as urinary tract infections and bloodstream infections.
The non-vascular stents market is expected to expand significantly as a result of these factors.
The global prevalence of gastrointestinal cancer is on the rise, which is projected to fuel the expansion of the sales of non-vascular stents.
Every year, over 24,000 Australians are diagnosed with GI cancer, according to the GI Cancer Institute of Australia.
What are the Key Driving Factors in the Non-vascular Stents Market?
Presently, demand for non-vascular stents drives by the technological advancement in healthcare global industry, rising disease prevalence of cancer and urolithiasis, increase in the aging population, preference for minimally-invasive solutions, increased life expectancy and increased sales of non-vascular stents.
The increasing prevalence of chronic diseases is increasing the demand for non-vascular stents. Advancements in technology and increasing demand for minimally invasive procedures are increasing the expansion, consequently increasing the sales of non-vascular stents.
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What are the Restraining Factors of the Non-vascular Stents Market?
The two major restraints in the demand for non-vascular stents will be the stringent government laws in some developing countries and safety issues and the high cost of non-vascular stents is also set to hamper the growth and sales of non-vascular stents during the forecast period.
The burden of rising regulation, proving long-term efficacy, pricing pressures, and medical devices excise taxes are some major barriers for soaring of demand for non-vascular stents in addition with sales of non-vascular stents.
Which Segment Emerged as the Lead in the Non-vascular Stents Market?
The urological stents segment emerged as the largest segment of the non-vascular stents market due to the increasing prevalence of ureteral diseases, such as renal calculi or kidney stones, urinary tract infection, and prostate cancer, across the world.
A surge in the number of ureteroscopy and ureterorenoscopy, lithotripsy, and schistosomiasis procedures across the world is anticipated to propel the demand for urological stents and in all demand for non-vascular stents along with sales of non-vascular stents.
The gastrointestinal stents segment of non-vascular stents market is expected to register a comparatively higher CAGR over the forecast period and inducing soared sales of non-vascular stents.
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What are the Leading Players in the Non-vascular Stents Market?
Some of the key participating players in non-vascular stents market are Boston Scientific Corporation, Covidien plc. Cook Medical, Allium Medical Solutions Ltd., Novatech Health Care, ConMed, W. L. Gore & Associates Inc., C.R. Bard, Merit Endotek, Micro-Tech (Nanjing) Co., Ltd, and others.
Medtronic purchased Medicrea in July 2020, a completely specialised spinal implant firm focused on bringing trustworthy and innovative technology to the worldwide market.
The TAXUS Element Paclitaxel-Eluting Coronary Stent System, which represents Boston Scientific Corporation’s third-generation drug-eluting stent (DES) technology, was released in May 2020. This product is specifically designed for coronary stenting and provides both strength and flexibility.
What are the Regions that the Non-vascular Stents Market Report Covers?
Depending on geographic region, non-vascular stents market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
North America, Europe and Asia Pacific are the leading market regions for non-vascular stents market due to the rapid technological advancement and large aging population.
The non-vascular stents market share is dominated by North America. The increased frequency of diseases is supporting non-vascular stents market expansion throughout the area. Abdominal wall hernias, for example, are one of the most prevalent surgical issues.
The general and pediatric surgeon’s armamentarium must include knowledge of those hernias (both common and uncommon) as well as protrusions that resemble them.
Due to the expanding medical technology industry and the rising frequency of gastric cancer in the EU5 nations, Europe is likely to have a significant non-vascular stents market share over the projection period.
However, due to favourable government efforts for the use of such medical devices, expanding senior population, and rising healthcare spending, Asia Pacific is predicted to grow at a faster rate than other regions throughout the projection period due to the high demand of non-vascular stents.
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