The Global Non-Vascular Stents Market size was valued at around USD 920 million in 2020 and is expected to grow at a CAGR of 5.5% to reach USD 1.2 billion by 2025.
Stents are the tubes or other devices placed in the body to generate a passage between hollow spaces. And stenting is the process of placement of such a stent in the body. Non-vascular stents are usually utilized for making a pathway in vessels of the body, particularly the arteries and veins that carry lymph and blood.
MARKET DRIVERS:
Rapid technological advancements in the healthcare sector, increasing disease prevalence of cancer and urolithiasis, augmenting the geriatric population, and increased life expectancy are the primary drivers of non-vascular stents market growth.
As per the American Cancer Society, 2016, around 26,370 individuals have diagnosed with stomach cancer in the U.S., and by the end of 2017, the count has reached 28,000. The snowballing frequency of urological and gastrointestinal diseases, rising applications among various emerging fields such as ophthalmic and neural sciences accelerates the growth rate of the global non-vascular stents market.
The rising demand for less invasive techniques decreases hospital stays and diminishing the threat of contracting hospital-acquired infections drives the market demand. Every year in the United States, kidney disorders kill more people than prostate or breast cancer. The growing adoption of the latest technologies to develop stents and retrieval, growing demand for minimally invasive surgeries and patients due to less-cost and less procedural time amid the ambulatory surgical centers projected to boost the growing demand for non-vascular stents market growth.
More than 1million abdominal wall hernia repairs are implemented every year in the U.S., along with inguinal hernias representing around 77,000 cases. About 90% of the inguinal hernia repairs are executed in males. As per WHO, 3million people and above die every year from chronic obstructive pulmonary diseases (COPD) worldwide, and 90% of the deaths are from low and middle-income countries.
MARKET RESTRAINTS:
However, stringent administrative framework, unreliable efficiency, pricing pressures, and medical devices excise taxes are the primary restraints of this market. The pricing pressure of the non-vascular stents hinders the non-vascular stents market growth during the estimated period. The availability of alternative options for relieving luminal structures inhibits market development.
Impact of COVID-19 on the global non-vascular stents market:
The unexpected outburst of COVID 19 briskly changed into a pandemic of unforeseen proportions. The change has shifted the focus of the world towards the healthcare sector. Worldwide governments and other healthcare organizations are effectively working on the healthcare institutions and pharmaceutical companies to provide efficient treatment for the patients suffering from the infection. For sure, the non-vascular stents market is impacted due to COVID 19 pandemic throughout the period.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By End User, Type, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global non-vascular stents has been segmented and sub-segmented based on the End User, Type, and Region.
Global Non-Vascular Stents Market – By Type:
Based on the type, the gastrointestinal stents segment is expected to dominate the non-vascular stents market with the largest share during the forecast period. The growth of the segment is majorly driven by the growing incidence of gastrointestinal cancer such as stomach cancer, small intestine, bowels, liver, integrated with patients' climbing significance for minimally invasive surgeries.
The ureteral stents segment is expected to grow rapidly due to the rising regular ureteral diseases, urinary tract infections, and prostate cancers worldwide. The increasing number of ureteroscopy, lithotripsy, and other techniques worldwide augment the ureteral stents demand.
Global Non-Vascular Stents Market – By End User:
The hospital end-user segment is predicted to dominate the global non-vascular stents market during the forecast period. The increasing number of patient count suffering from ureteral diseases, gastrointestinal diseases, and other chronic diseases is climbing the market growth. Moreover, the well-developed healthcare infrastructure, expanding sound knowledge among the patients regarding the patients' early diagnosis and treatment bolster the market growth.
Global Non-Vascular Stents Market – By Material:
The metallic stents material holds the largest share in the non-vascular stents market. The escalating technology advancements are significant driving factors usage and wide applications of metallic stents coupled with advanced technologies surge the market growth expansion during the analysis period.
The non-metallic stents are the quickest growing segment and are scheduled to record the highest CAGR growth rate during the period.
The non-metallic stents, used for treating benign structures as they require less treatment time, less-cost, and easy movement make the market move forward.
Global Non-Vascular Stents Market – By Region
Regionally, North America held over 32.0% share in the global market in 2019 owing to the increasing prevalence of lung cancer, glaucoma, central airway obstruction, COPD, asthma, and other chronic diseases in the U.S. and Canada. The local presence of major market players, target population, and robust healthcare infrastructure in the region further supported this region's dominance. Europe is also expected to hold a substantial market share during the forecast period due to the flourishing medical technology sector and the increasing prevalence of gastric cancer in the EU5 countries.
On the other hand, Asia Pacific is expected to register a higher CAGR over the forecast period compared to other regions due to favorable government initiatives for using such medical devices, rising geriatric population, and increasing healthcare expenditure.
KEY MARKET PARTICIPANTS:
Companies leading the Global Non-Vascular Stents Market profiled in this report are 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.
RECENT HAPPENINGS IN THIS MARKET:
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