Market Definition
The Gastrointestinal (GI) Stent market encompasses medical devices used in the treatment of gastrointestinal conditions, such as strictures, obstructions, and perforations. These stents are designed to provide support and maintain patency in the digestive tract, facilitating the passage of food, fluids, and bodily waste. Gastrointestinal stents are commonly used in the management of conditions such as esophageal cancer, colorectal cancer, pancreatic cancer, and benign strictures. They are available in various types, including self-expandable metal stents (SEMS), plastic stents, and biodegradable stents, and can be deployed endoscopically or radiologically. The GI Stent market serves healthcare providers, hospitals, and medical facilities, offering essential devices to improve patient outcomes and quality of life in the management of GI disorders.
Market Outlook
The Gastrointestinal (GI) Stent market is experiencing steady growth and demand driven by factors such as the increasing incidence of gastrointestinal disorders, advancements in stent technology, and growing adoption of minimally invasive procedures. As the prevalence of GI diseases such as colorectal cancer, pancreatic cancer, and esophageal strictures continues to rise globally, there is a growing need for effective treatment options that can alleviate symptoms, improve quality of life, and prolong survival. Gastrointestinal stents offer a minimally invasive alternative to surgery for relieving obstructions, restoring luminal patency, and providing palliative care in patients with advanced GI malignancies. With the expanding market for endoscopic and interventional gastroenterology procedures and the growing demand for innovative stent technologies, the GI Stent market is poised for continued growth and innovation in the global healthcare industry.
One of the primary drivers propelling the growth of the GI Stent market is the increasing prevalence of gastrointestinal cancers and benign strictures worldwide. Gastrointestinal cancers, including colorectal cancer, pancreatic cancer, and esophageal cancer, are among the leading causes of cancer-related morbidity and mortality globally. Patients with these malignancies often develop strictures or obstructions in the digestive tract, leading to symptoms such as dysphagia, abdominal pain, and bowel obstruction. Gastrointestinal stents serve as a vital treatment option for relieving symptoms, improving quality of life, and providing palliative care in patients with advanced GI cancers. Additionally, gastrointestinal stents are used in the management of benign strictures caused by conditions such as inflammatory bowel disease, peptic ulcer disease, and radiation therapy. With the increasing burden of gastrointestinal diseases and the growing demand for minimally invasive treatment options, there is a rising opportunity for gastrointestinal stent manufacturers to develop innovative devices that address unmet clinical needs and improve patient outcomes, driving market growth and adoption of GI stents worldwide.
Moreover, the GI Stent market is benefiting from advancements in stent design, materials, and deployment techniques, which are driving improvements in device safety, efficacy, and patient outcomes. Manufacturers are developing next-generation gastrointestinal stents with features such as improved radial force, flexibility, and resistance to migration, enhancing device performance and durability. Additionally, advancements in stent coatings and drug-eluting technologies enable targeted drug delivery to the stent site, reducing tissue inflammation, promoting tissue healing, and preventing stent-related complications such as tissue hyperplasia and restenosis. Furthermore, the development of biodegradable and dissolvable stents offers a promising alternative to traditional metal and plastic stents, providing temporary support and avoiding the need for stent removal procedures. With the increasing demand for safer, more effective, and patient-friendly stent options, there is a rising opportunity for manufacturers to invest in research and development and collaborate with healthcare providers to innovate and commercialize novel gastrointestinal stent technologies, driving market growth and adoption of advanced GI stents worldwide.
Furthermore, the GI Stent market is poised for continued growth as healthcare providers and policymakers prioritize the expansion of endoscopic and interventional gastroenterology services and the adoption of minimally invasive treatment approaches. Endoscopic stent placement offers several advantages over traditional surgical interventions, including shorter hospital stays, faster recovery times, and reduced risk of complications. Additionally, endoscopic stent placement can be performed on an outpatient basis, allowing patients to return home the same day and resume normal activities sooner. With the increasing demand for minimally invasive procedures and the growing emphasis on value-based healthcare delivery, there is a rising opportunity for healthcare providers to invest in endoscopic capabilities and expand access to gastrointestinal stent placement services. Furthermore, advancements in imaging technology, such as fluoroscopy, ultrasound, and endoscopic ultrasound (EUS), enable precise stent placement and real-time monitoring of stent deployment procedures, improving procedural outcomes and patient safety. With the expanding market for endoscopic interventions and the growing demand for minimally invasive treatment options, there is a rising opportunity for healthcare providers, medical device manufacturers, and policymakers to collaborate and drive innovation in the GI Stent market, enhancing patient care and outcomes in the management of gastrointestinal disorders worldwide.
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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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Market Segmentation
The report analyses the global gastrointestinal stent market based on product, material, application, end user, and region.
Global Gastrointestinal Stent Market by Product
Based on product, it is segmented into biliary stents, duodenal stents, colonic stents, pancreatic stents, and esophageal stents. The biliary stents segment accounted for the largest share in 2021. The biliary stent segment is anticipated to grow at the highest CAGR during the forecast period. One of the key drivers behind the expansion of the biliary stents market is the rising incidence of bile duct cancer and chronic liver disease. Additional important factors that are anticipated to promote the growth of this market segment during the projected period include the rising incidence of biliary disorders and the rise in the number of surgical procedures for the treatment of biliary diseases.
Global Gastrointestinal Stent Market by Material
Based on material, it is segmented into self-expanding metal stents and plastic stents. The Self-expanding metal stents are further sub-segmented into nitinol, stainless steel, and other metal stents. The self expanding metal segment is anticipated to dominate the market during the forecast period. Factors like the rising demand for self-expanding metal stents because of its benefits, including ease of insertion, a reduced risk of dislodgment or migration, and extended patency. Stainless steel, nitinol, cobalt-chromium, and platinum-chromium with or without coating are the typical materials used to make metal stents. Benign gastrointestinal leaks and perforations are treated with self-expanding metal stents. These stents serve as a support to maintain the digestive tract open and allow for simple, unhindered outflow of food and liquids.
Global Gastrointestinal Stent Market by Application
Based on application, it is segmented into biliary diseases, irritable bowel syndrome, and gastrointestinal cancers. The biliary diseases segment accounted for the majority of market share during the forecast period. The gastrointestinal cancers segment is anticipated to have the highest share during the projection period. The rise in prevalence and incidence of gastrointestinal malignancies is thought to be the cause of this market segment’s expansion. For instance, the American Cancer Society’s Colorectal Cancer Facts & Figures 2020-2022 report estimates that in the US in 2020, 43,340 new cases of rectal cancer and 104,610 new instances of colon cancer would be detected.
Global Gastrointestinal Stent Market by End User
Based on end user, it is segmented into hospitals & clinics, and ambulatory surgical centers. The hospital end user segment is anticipated to dominate the market during the forecast period. Due to the high volume of endoscopic retrograde cholangio-pancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC) procedures carried out in hospitals for a variety of disease indications, favorable reimbursement scenarios, and increased government initiatives to provide high-quality treatment for digestive disorders, this segment has a sizable market share.
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Major Players
The key players studied in the global gastrointestinal stent market are Boston Scientific Corporation (US), Cook Group (US), Medtronic plc. (Ireland), ELLA-CS, s.r.o. (Czech Republic), Becton, Dickinson and Company (US), Merit Medical Systems (US), CONMED Corporation (US), Cantel Medical (US), Olympus Corporation (Japan), Taewoong Medical (South Korea) 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
- Market Size in 2022 – $467 Million
- Market Size in 2032 – $796 Million
- CAGR % – 5.5%
- Historic Period – 2016 – 2021
- Forecast Period – 2023 – 2032
- Base Year – 2022
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