The size of the North America Non-Vascular Stents market was around USD 319.39 million in 2022. It is expected to grow at a CAGR of 5.2% to reach USD 411.52 million by 2027. It captures 33% of the global market share.
Vascular stents are rigid devices used to support hollow, usually tubular structures held to prevent arterial obstructions. They are made of non-absorbable materials, such as stainless steel or cobalt-chromium alloys, polyethylene, and polypropylene. Stents help patients restore blood flow to the arteries during angioplasty. They also help maintain stenotic vessels' permeability and prevent blockage caused by blood pooling or excessive tissue growth.
The increasing demand for minimally invasive procedures is expected to be a significant driver for the North America non-vascular stents market. Non-vascular stents involve small, precise incisions, resulting in relatively smaller and less visible scarring 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 non-vascular stents' demand. Conditions such as chronic obstructive pulmonary disease (COPD), obstruction of the central airways, and asthma require 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 medical devices' duties are some of the main challenges.
This research report on the North American Non-Vascular Stents Market has been segmented and sub-segmented into the following categories:
By End User:
By geography, North America held over 32.0% share in the 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 the dominance of this region.
North America is expected to dominate the market during the forecast period due to the local presence of major market players and robust healthcare infrastructure, and a high prevalence of gastrointestinal cancer in the United States and Canada. According to statistics released by the American Cancer Society, nearly 29 542 people were diagnosed with stomach cancer in 2020. Additionally, it states that approximately 32,000 new cancer cases of the stomach will be diagnosed by 2025. The World Bank Group said that per capita health expenditure increased by about 57.0% between 2015 and 2020. Currently, health expenditure in the United States is about 2, 4 times the world average, and is expected to increase by 69.0% in the next ten years. Also, the IBM Global Business Services executive report indicated that per capita health spending in the United States was almost $ 10,729.0 in 2020.
Key players dominating the North American Non-Vascular Stents Market include CONMED Corporation. Other players in the market include 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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