Market Definition
Bile duct is a long tube-like structure that aids in the drainage of bile fluid. Biliary stents, also known as bile duct stents, are employed in disorders causing an obstruction in the bile duct. The bile duct stents are made up of either polymer or metallic materials. Biliary stents are inserted into the duct or lumen to keep the passage open enabling optimum drainage of the biliary fluids. Bile fluids play a major role in food digestion, and it is secreted by liver into intestinal passage through bile duct that opens in intestine.
Market Outlook
The global biliary stents market was valued at USD 310.2 Million in 2021 and it is anticipated to grow up to USD 610.7 Million by 2031, at a CAGR of 7.0% during the forecast period.
The technological advancements and effective diagnosis procedures have enhanced the accuracy level of ERCP and PTC test. For instance, according to Gastrointestinal Endoscopy Journal, the overall success rate of repeat ERCP procedure is 95%. Furthermore, increasing adoption of minimally invasive procedures are propelling the market demand. Increasing technological advancements associated with the detection and treatment of gastrointestinal disorders, including bile duct obstruction, provide certain benefits such as, shorter hospital stays, lesser chances of infection, and quick recovery. Such factors are boosting the adoption rate of biliary stents contributing to the overall biliary stents market expansion.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Biliary Stents Market Segmental Overview
The report analyses the global biliary stents market based on type, application, end-user, and region.
Global Biliary Stents Market by Type
By type, the market is segmented into metal stents and polymer stents. The metal stents segment accounted for significant market share in 2021 and is expected to register lucrative CAGR over the forecast period. Metal stents are mesh-like tubes composed of thin wires and are available in wide variety of lengths and diameters. The self-expandable metal stents have a post expansion diameter ranging from 6-10 mm. The major drivers of metal stents include rising incidence of bile duct -related diseases such as biliary leaks, pancreatic cancer, and other malignant obstructions, such as gallstones, leading to blockage of bile duct. The metal stents are noted to offer better patency, minimal slippage post-placement and longer lifecycle. Thus, the demand for metal stents is rapidly increasing, thereby augmenting the market outlook.
Global Biliary Stents Market by Application
By application, the biliary stents market is classified into bilio-pancreatic leakages, pancreatic cancer, benign biliary strictures, gallstones, and others. The gallstones segment accounted for significant revenue in 2021. Lifestyle changes such as adoption of an unhealthy and sedentary lifestyle coupled with a family history of gallstones, are observed to be some of the prominent factors leading to the high prevalence of gallstones. The occurrence of gallstones is termed as non-fatal and one of the most common diseases of the biliary system. For instance, it is estimated that nearly 20 million people in the U.S. i.e., 15% of the country’s population have gallstones. As these tend to create blockages in the biliary tract, an optimum management of gallstones is very essential. Hence, this leads to the increasing adoption of biliary stents, thereby fostering the industry growth.
Global Biliary Stents Market by End-user
The end-use segment of the market is bifurcated into hospitals, specialty clinics, ambulatory surgical centres, and others. The ambulatory surgical centres are expected to register highest CAGR between 2022 and 2028. With several advantages of ambulatory care such as lowered costs, quick recovery as well as lower rates of infection coupled with the rising preference towards minimally invasive procedures, the segment is witnessing a higher demand in developed and some parts of the developing countries. Additionally, increasing adoption of biliary stents and related procedures requires minimal risk of complications to attract a wider customer base. Hence, factors such as increased adoption of minimally invasive procedures and increased healthcare expenditure are noted to drive the segment demand.
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Major Players in the Global Biliary Stents Market
The key players in the biliary stents market B. Braun Melsungen AG, Cook Medical Inc., Olympus Corporation, CONMED Corporation, M.I. Tech, Becton, Dickinson and Company, ENDO-FLEX GmbH, Cardinal Health, Merit Medical Systems, Inc., and Medtronic plc, among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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