Gastrointestinal Stents Market
Gastrointestinal Stents Market Forecasts to 2030 - Global Analysis By Product (Duodenal Stent, Biliary Stent, Pancreatic Stent, Colonic Stent and Esophageal Stent), Type (Anti-Migratory Stents, Radioactive Stents, Drug-Eluting Stents, Anti-Reflux Stents, Shape-Modified Stents and Other Types), Material, Application, End User and By Geography
According to Stratistics MRC, the Global Gastrointestinal Stents Market is accounted for $529.71 million in 2023 and is expected to reach $884.56 million by 2030 growing at a CAGR of 7.6% during the forecast period. Gastrointestinal stents are medical devices used to treat narrowed or blocked passages within the digestive system, such as the esophagus, stomach, or intestines. These tubular structures are inserted endoscopically to provide support, relieve obstruction, and facilitate the flow of fluids or food. Gastrointestinal stents play a crucial role in managing conditions like strictures, tumours, or obstructions, offering a minimally invasive alternative to surgery.
According to published report of 2022 in current oncology research article of MDPI publisher, reported upper gastrointestinal cancer incidences in China were 14,934,040 cases of male and 6,262,431 cases of female with growth rate 181.44% in between 1990 to 2019.
Market Dynamics:
Driver:
Increasing prevalence of gastrointestinal disorders
The escalating prevalence of gastrointestinal disorders, such as colorectal cancer, inflammatory bowel disease, and gastrointestinal strictures necessitates effective therapeutic interventions, where gastrointestinal stents play a crucial role in providing relief and improving patient outcomes. These stents facilitate the restoration of normal digestive function, alleviate symptoms, and offer minimally invasive solutions. The growing awareness of these disorders, coupled with advancements in stent technologies, further propels market growth as healthcare professionals increasingly opt for these devices to address the surging demand for gastrointestinal interventions.
Restraint:
Lack of awareness
Lack of awareness about gastrointestinal issues and available treatment options may lead to delayed diagnosis and treatment. It can hinder patient education and shared decision-making between healthcare providers and patients, limiting the choices available for managing gastrointestinal conditions. From a market perspective, manufacturers and suppliers may face challenges in promoting their products and expanding their market share if there is insufficient awareness among both healthcare professionals and the general public.
Opportunity:
Rising customized & patient-specific solutions
Tailoring gastrointestinal stents to individual patient needs enhances treatment efficacy and minimizes potential complications. This trend not only addresses unique anatomical variations but also improves overall patient outcomes, driving innovation and growth within the market. As demand for personalized medical interventions continues to rise, the integration of customized solutions in the gastrointestinal stents sector positions itself as a key avenue for advancement and market expansion.
Threat:
Availability of alternative treatment options
Patients and healthcare providers may opt for non-stent interventions, such as medications or minimally invasive procedures, reducing the demand for gastrointestinal stents. This shift in preferences could impact the market share and revenue potential for traditional stent manufacturers, emphasizing the need for innovation, improved efficacy, and strategic differentiation to maintain a competitive edge in the evolving landscape of gastrointestinal treatments.
Covid-19 Impact
The covid-19 pandemic has impacted the Gastrointestinal Stents Market by causing disruptions in the supply chain, delaying elective procedures, and diverting healthcare resources to manage the crisis. These factors have led to a temporary decline in the demand for gastrointestinal stents. However, as healthcare systems adapt to the new normal and elective procedures resume, the market has recovered. The increased focus on endoscopic procedures and advancements in stent technology also drive future growth in the gastrointestinal stents market.
The self-expanding metal stents segment is expected to be the largest during the forecast period
The self-expanding metal stents segment is estimated to have a lucrative growth. Self-expanding metal stents (SEMS) play a pivotal role in Gastrointestinal Stents, offering a minimally invasive solution for various conditions. Composed of metal alloys, these stents automatically expand upon deployment, providing structural support to obstructed or narrowed gastrointestinal passages. SEMS effectively alleviate symptoms, such as blockages or strictures, enabling improved digestive function. Their versatility and adaptability make them a preferred choice for treating conditions like esophageal, colorectal, and biliary obstructions.
The gastrointestinal cancers segment is expected to have the highest CAGR during the forecast period
The gastrointestinal cancers segment is anticipated to witness the highest CAGR growth during the forecast period. Gastrointestinal stents play a crucial role in managing gastrointestinal cancers by alleviating symptoms and improving the quality of life for patients. Deployed through endoscopic procedures, these stents provide a minimally invasive solution, restoring proper functioning and enabling the passage of food and fluids. Gastrointestinal stents serve as palliative care, enhancing patient comfort and facilitating treatment plans.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising gastrointestinal disorders and an aging population. Countries like China, Japan, and India are prominent contributors to the market's growth. It is home for major key players such as Boston, Medtronic and Abbott Laboratories. The demand for minimally invasive procedures and a growing prevalence of diseases such as colorectal cancer are fueling the adoption of gastrointestinal stents in the region. The market is poised for continued expansion as healthcare infrastructure improves and the need for effective gastrointestinal interventions rises.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the increasing prevalence of obstructive gastrointestinal diseases, favourable reimbursement policies and aging population. North America is one of the most developed medical device industries market. Further, the booming medical tourism industry in the region owing to availability of the advanced medical treatments at a cheaper cost is anticipated to expand the patient base in the region.
Key players in the market
Some of the key players profiled in the Gastrointestinal Stents Market include Boston Scientific Corporation, Hobbs Medical Inc., General Electric Company, Cantel Medical Corporation, Olympus Corporation, Merit Medical Systems, Qualimed, Medtronic, Conmed Corporation, Terumo Corporation, Johnson & Johnson, The 3M Company, Smith & Nephew, Diagmed Healthcare, Medline Industries, Baxter, B. Braun Melsungen AG and Danaher Corporation.
Key Developments:
In November 2020, Boston Scientific Corporation (US) has received 510(k) approval from the U.S. Food and Drug Administration (FDA) and CE Mark approval to market its WallFlex Fully Covered Esophageal Stent for the treatment of malignant esophageal strictures caused by esophageal cancer.
In October 2020, Olympus Corporation (Japan) launched HANAROSTENT Esophagus TTS Self-expanding Metal Stents (SEMS) made by MI-Tech and distributed exclusively through Olympus in the US.
Products Covered:
• Duodenal Stent
• Biliary Stent
• Pancreatic Stent
• Colonic Stent
• Esophageal Stent
Types Covered:
• Anti-Migratory Stents
• Radioactive Stents
• Drug-Eluting Stents
• Anti-Reflux Stents
• Shape-Modified Stents
• Other Types
Materials Covered:
• Self–Expanding Metal Stents
• Plastic Stents
• Other Materials
Applications Covered:
• Stomach Cancer
• Irritable Bowel Syndrome
• Pancreatic Cancer
• Colorectal Cancer
• Gastrointestinal Cancers
• Esophageal Cancer
• Biliary Diseases
• Other Applications
End Users Covered:
• Ambulatory Surgical Centers
• Hospitals
• Specialty Clinics
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Gastrointestinal Stents Market, By Product
5.1 Introduction
5.2 Duodenal Stent
5.3 Biliary Stent
5.4 Pancreatic Stent
5.5 Colonic Stent
5.6 Esophageal Stent
6 Global Gastrointestinal Stents Market, By Type
6.1 Introduction
6.2 Anti-Migratory Stents
6.3 Radioactive Stents
6.4 Drug-Eluting Stents
6.5 Anti-Reflux Stents
6.6 Shape-Modified Stents
6.7 Other Types
7 Global Gastrointestinal Stents Market, By Material
7.1 Introduction
7.2 Self–Expanding Metal Stents
7.3 Plastic Stents
7.4 Other Materials
8 Global Gastrointestinal Stents Market, By Application
8.1 Introduction
8.2 Stomach Cancer
8.3 Irritable Bowel Syndrome
8.4 Pancreatic Cancer
8.5 Colorectal Cancer
8.6 Gastrointestinal Cancers
8.7 Esophageal Cancer
8.8 Biliary Diseases
8.9 Other Applications
9 Global Gastrointestinal Stents Market, By End User
9.1 Introduction
9.2 Ambulatory Surgical Centers
9.3 Hospitals
9.4 Specialty Clinics
10 Global Gastrointestinal Stents Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Boston Scientific Corporation
12.2 Hobbs Medical Inc.
12.3 General Electric Company
12.4 Cantel Medical Corporation
12.5 Olympus Corporation
12.6 Merit Medical Systems
12.7 Qualimed
12.8 Medtronic
12.9 Conmed Corporation
12.10 Terumo Corporation
12.11 Johnson & Johnson
12.12 The 3M Company
12.13 Smith & Nephew
12.14 Diagmed Healthcare
12.15 Medline Industries
12.16 Baxter
12.17 B. Braun Melsungen AG
12.18 Danaher Corporation
List of Tables
1 Global Gastrointestinal Stents Market Outlook, By Region (2021-2030) ($MN)
2 Global Gastrointestinal Stents Market Outlook, By Product (2021-2030) ($MN)
3 Global Gastrointestinal Stents Market Outlook, By Duodenal Stent (2021-2030) ($MN)
4 Global Gastrointestinal Stents Market Outlook, By Biliary Stent (2021-2030) ($MN)
5 Global Gastrointestinal Stents Market Outlook, By Pancreatic Stent (2021-2030) ($MN)
6 Global Gastrointestinal Stents Market Outlook, By Colonic Stent (2021-2030) ($MN)
7 Global Gastrointestinal Stents Market Outlook, By Esophageal Stent (2021-2030) ($MN)
8 Global Gastrointestinal Stents Market Outlook, By Type (2021-2030) ($MN)
9 Global Gastrointestinal Stents Market Outlook, By Anti-Migratory Stents (2021-2030) ($MN)
10 Global Gastrointestinal Stents Market Outlook, By Radioactive Stents (2021-2030) ($MN)
10 Global Gastrointestinal Stents Market Outlook, By Drug-Eluting Stents (2021-2030) ($MN)
12 Global Gastrointestinal Stents Market Outlook, By Anti-Reflux Stents (2021-2030) ($MN)
13 Global Gastrointestinal Stents Market Outlook, By Shape-Modified Stents (2021-2030) ($MN)
14 Global Gastrointestinal Stents Market Outlook, By Other Types (2021-2030) ($MN)
15 Global Gastrointestinal Stents Market Outlook, By Material (2021-2030) ($MN)
16 Global Gastrointestinal Stents Market Outlook, By Self–Expanding Metal Stents (2021-2030) ($MN)
17 Global Gastrointestinal Stents Market Outlook, By Plastic Stents (2021-2030) ($MN)
18 Global Gastrointestinal Stents Market Outlook, By Other Materials (2021-2030) ($MN)
19 Global Gastrointestinal Stents Market Outlook, By Application (2021-2030) ($MN)
20 Global Gastrointestinal Stents Market Outlook, By Stomach Cancer (2021-2030) ($MN)
21 Global Gastrointestinal Stents Market Outlook, By Irritable Bowel Syndrome (2021-2030) ($MN)
22 Global Gastrointestinal Stents Market Outlook, By Pancreatic Cancer (2021-2030) ($MN)
23 Global Gastrointestinal Stents Market Outlook, By Colorectal Cancer (2021-2030) ($MN)
24 Global Gastrointestinal Stents Market Outlook, By Gastrointestinal Cancers (2021-2030) ($MN)
25 Global Gastrointestinal Stents Market Outlook, By Esophageal Cancer (2021-2030) ($MN)
26 Global Gastrointestinal Stents Market Outlook, By Biliary Diseases (2021-2030) ($MN)
27 Global Gastrointestinal Stents Market Outlook, By Other Applications (2021-2030) ($MN)
28 Global Gastrointestinal Stents Market Outlook, By End User (2021-2030) ($MN)
29 Global Gastrointestinal Stents Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
30 Global Gastrointestinal Stents Market Outlook, By Hospitals (2021-2030) ($MN)
31 Global Gastrointestinal Stents Market Outlook, By Specialty Clinics (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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