Global Airway Stent Market Size To Worth USD 14.5 Billion By 2030 | CAGR of 7.7%
The Global Airway Stent Market Size was valued at USD 8.8 Billion in 2021 and the worldwide airway stent market size is expected to reach USD 14.5 Billion by 2030, according to a research report published by Spherical Insights & Consulting. Companies Covered: Boston Scientific Corporation, Taewoong Medical Co., Ltd., E. Benson Hood Laboratories, Inc., Merit Medical Systems, Inc., Novatech SA, Boston Medical Products, Inc., Cook Group, ENDO-FLEX GmbH, Standard Sci. Tech Inc., EFER ENDOSCOPY and among others.
New York, United States , March 28, 2023 (GLOBE NEWSWIRE) — The Global Airway Stent Market Size to grow from USD 8.8 Billion in 2021 to USD 14.5 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period. The increase in the prevalence of lung cancer and respiratory diseases is amongst the important factor expected to intensify the growth and demand of airway stent and lung stent market. In addition, the high adoption of therapeutic treatments such as endoscopic therapy, bronchoscopy and chemotherapies due to rise in the geriatric population and high prevalence of lung cancer are also expected contributes to the growth in the global market over the forecast period of 2021 to 2030.
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An endobronchial prosthesis made of different materials called an airway stent maintains and supports the patency of the hollow tubular airway structure. An airway stent will aid in healing or controlling an airway fistula and even preventing the airway wall from failing by stopping the extension of any tumour that may already be present into the airway. The most common materials used to make stents are silicone and metal. They develop a variety of sizes and shapes that may be permanent or transitory. Moreover, benign and malignant processes may coexist while stenting an airway. When balloon dilatation, electrocautery, APC, or laser are utilised by pulmonary doctors to enhance the size of airway constriction, airway stents are used.
The desire for minimally invasive surgeries (MIS) to treat chronic diseases like glaucoma, lung cancer, central airway obstruction, chronic obstructive pulmonary disease, asthma, and others has led to a considerable expansion in the global market for airway stents. Individuals who have lung cancer also experience respiratory difficulties. According to the Asia Pacific Journal of Cancer Prevention, central airway obstruction (CAO), which causes serious breathing problems, affects 30% of lung cancer patients worldwide. As a result, airway stent utilisation has greatly increased and is predicted to stay that way in the next years. In addition, the market is growing as a result of the rising research and development expenditures made by both public and private sector entities to create non-vascular stents. For instance, the US FDA approved a 3D printed airway stent that was introduced in January 2020 and is tailored to the patient’s airway.
The market’s expansion will be hampered by issues with stent placement as well as a number of other alternative treatments. In addition, the market’s growth is being constrained by a decline in cigarette smokers.
COVID 19 Impact
The significance of treating for infected individuals by assisting with infection management using appropriate medical supplies plays a crucial role. For clinical therapy, certain respiratory devices such life support machines, oxygen generators, and monitors are frequently utilised medical equipment. The demand for medical products like gloves, hand sanitizer, masks, and safety glasses has increased as a result of COVID 19. Medical professionals and everyday people alike are in great need of medical supplies as a result of the explosion in COVID 19 cases around the world and the need to take precautions. In addition, major producers of these goods had the possibility to grow their market share by continuously supplying personal protection equipment to consumers around the world.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on “Global Airway Stent Market Size, Share, and COVID-19 Impact Analysis, By Product (Tracheal Stents, Laryngeal Stents, and Bronchial stents), By Application (Hospitals, Ambulatory Surgery Centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030″. Get Detailed Report Description Here:
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Bronchial stent segment is dominating the market with the largest market share over the forecast period.
On the basis of product, the global airway stent market is segmented into Tracheal Stents, Laryngeal Stents, and Bronchial stents. Among these, the bronchial stent segment is dominating the market with the largest market share over the forecast period because bronchial stents are being used more frequently to treat respiratory conditions. There is a growing need for bronchial stents since they are also utilised to treat hemoptysis following lung cancer and to treat progressive dyspnea. Moreover, palliative symptom alleviation and minimally invasive procedures are both treated using bronchial stents.
Ambulatory Surgery Centers is dominating the market with the largest market share over the forecast period.
Based on the application, the global airway stent market is segmented into Hospitals and Ambulatory Surgery Centers. Among these, the ambulatory surgery centers is dominating the market with the largest market share over the forecast period. Comparing ambulatory surgical facilities to traditional hospitals, which offer a shorter stay after surgery, ambulatory surgical facilities are more inexpensive. In addition to this, the expansion of ambulatory surgery centres and the availability of more minimally invasive procedures are both contributing to the market’s expansion.
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North America is dominating the market with the largest market share over the forecast period.
Over the projection period, it is predicted that the North American airway stent market would account for the largest market share. The main drivers of the region’s growth include the presence of significant market players, a sophisticated healthcare infrastructure, and rising doctor awareness, which has led to a rise in the use of these stents in this area. In addition, rising sickness rates, rising healthcare costs, and an increase in the number of elderly people are all contributing to the region’s rise.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Airway Stent Market Boston Scientific Corporation, Taewoong Medical Co., Ltd., E. Benson Hood Laboratories, Inc., Merit Medical Systems, Inc., Novatech SA, Boston Medical Products, Inc., Cook Group, ENDO-FLEX GmbH, Standard Sci. Tech Inc., EFER ENDOSCOPY.
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