The size of the Non-Vascular Stents market in Latin America was around USD 116.69 million in 2022. It is expected to grow at a CAGR of 5.7% to reach USD 153.96 million by 2027. It captures 12% of the global market.
Stents are used in vascular and non-vascular organs for various reasons, such as the palliation of transient and chronic obstructions in the natural circulatory pathways that allow the transfer of air, body fluids, and other substances involved in systemic metabolism and energy to exchange. Non-vascular stents are typically used to open a pathway through vessels in the body, especially arteries and veins that carry blood and lymph.
The increasing demand for minimally invasive procedures is expected to be a significant driver for the growth of the Latin American non-vascular stents market. Non-vascular stents involve small, precise incisions, resulting in relatively smaller and less visible scarring incurred in conventional surgical procedures that compromise patient safety. This procedure is associated with a faster recovery time, which reduces the patient's hospital stay. Besides, reducing hospital stay should, in turn, reduce the risk of getting infections contracted in the hospital, such as blood infections, urinary tract infections, etc. between patients. These factors are presented as the major drivers for the growth of the non-vascular stents market.
The increasing prevalence of gastrointestinal, urological, and respiratory or pulmonary diseases is expected to fuel the demand for non-vascular stents. Conditions such as chronic obstructive pulmonary disease (COPD), obstruction of the central airways, and asthma require the use of pulmonary stents to open the narrow airways and facilitate the respiratory process.
The burden of increasing regulation, demonstration of long-term efficacy, pricing pressures, and excise duties on medical devices are some of the main challenges in this market.
This research report on the Latin America Non-Vascular Stents Market has been segmented and sub-segmented into the following categories:
By End User:
Geographically, the Latin American Non-Vascular Stents Market is expected to grow at a steady pace during the forecast period. The geriatric population is prone to developing chronic diseases such as lung cancer, pancreatic cancer, gallbladder cancer, colon / colorectal cancer, stroke, asthma, chronic obstructive pulmonary disease (COPD), chronic pancreatitis, prostate cancer, glaucoma, and this is expected to facilitate increased demand for non-vascular stents during the forecast period. It can be attributed to the increasing incidence of gastrointestinal cancers, such as cancers of the stomach, esophagus, gallbladder, pancreas, liver, small intestine, intestine, and anus well as increasing patient preference for minimally invasive surgeries around the world. The regional increase in the incidence of biliary diseases such as bile duct cancer, gallstones, and primary biliary cholangitis is expected to positively impact the growth of the biliary stents market during the forecast period.
Key market participants in the Latin American Non-Vascular Stents Market include CONMED Corporation, Taewoong Medical Co., Medtronic; C. R. Bard, Inc.; Boston Scientific Corporation; HOBBS MEDICAL, INC; Cook Medical; ELLA - CS, s.r.o.; Ltd.; Synchron Med Inc.; and Glaukos Corporation.
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