Rockville, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, estimates that the global tracheal stents market is valued at US$ 126 million in 2023 and is predicted to reach US$ 272 million by the end of 2033.
Stents used to stabilize a surgical reconstruction of the larynx or trachea or to avoid lumen collapse are known as laryngeal and tracheal stents. Once the cricoid plate has been split anteriorly or posteriorly, with or without the implantation of cartilage, a stent can be employed to support it to maintain the complexity in an enlarged configuration during the healing process. For two to six weeks, stenting is typically used to stabilize the laryngeal structure.
One of the main factors driving the market revenue is the rising preference for minimally-invasive surgeries and the expanding use of endoscopic therapies. The development of innovative non-vascular stents is being fueled by growing public and private investments in research and development, which is encouraging their use for airway stenting. Furthermore, increasing investments in healthcare infrastructure across the globe are resulting in the development of modern, well-equipped healthcare facilities, which is further enhancing the tracheal stents market growth.
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North America and Europe are currently dominating the sales of tracheal stents due to the presence of key market players in these regions, growing senior population, rising cases of respiratory-related disorders, and the presence of advanced healthcare facilities. The Asia Pacific market is predicted to expand at the fastest pace during the forecast period (2023-2033).
Key Takeaways from Market Study
- Global demand for tracheal stents is expected to increase at a CAGR of 8% from 2023-2033.
- China’s market is predicted to expand at a CAGR of 12% during the projected period.
- Sales of metal stents are expected to rise at a CAGR of 8.5% during the forecast period.
- Demand for plastic stents is predicted to expand at a CAGR of 7.5% during the next 10 years.
“Rapidly growing prevalence of lung cancer and chronic obstructive pulmonary diseases is augmenting the sales growth of tracheal stents,” says a Fact.MR analyst.
Key Segments of Tracheal Stents Industry Research
By Material :
- Metal
- Plastic
- Silicone
By Patient :
- Adults
- Pediatrics
By End User :
- Hospitals
- Ambulatory Surgical Centers
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Winning Strategy
Tracheal stent sales and market share are currently dominated by some of the leading companies. Smaller and mid-sized firms, on the other hand, are growing their market share by introducing new products at affordable prices by adopting new technologies. To grow their businesses and enter new markets, market participants for tracheal stents frequently use mergers and collaborations.
- In February 2020, BIOTRONIK got CE Mark clearance for its Orsiro Mission drug-eluting stent or DES system. Comparing this technique to other types of modern stents now utilised in healthcare facilities, it claims to have a greater deliverability rate.
Key Companies Profiled
- Bess Aktiengesellschaft (Bess AG)
- Boston Scientific Corporation
- Cook Group
- E. Benson Hood Laboratories, Inc.
- Efer Endoscopy
- Endo-Flex GmbH
- Merit Medical Systems, Inc.
- Micro-Tech (Nanjing) Co., Ltd.
- Novatech SA
- Standard Sci. Tech, Inc.
- Stening SRL
- Taewoong Medical Co., Ltd.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global tracheal stents market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of material (metal, plastic, silicone), patient (adults, pediatrics), and end user (hospitals, ambulatory surgical centers), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Check out more related studies published by Fact.MR Research:
Laryngeal Stents Market: The global laryngeal stents market currently accounts for a valuation of US$ 53 million and is expected to reach US$ 75 million by the end of 2027. Worldwide demand for laryngeal stents is predicted to increase at a high-value CAGR of 7.1% from 2022 to 2027. Sales of self-expandable stents are expected to increase faster at a CAGR of 7.7% over the study period. Self-expandable stents are widely used since they are simple to implant and don't require the use of general anesthesia.
Indwelling Catheters Market: The sales of indwelling catheters will exceed US$ 1 Bn by the end of 2021. Demand for best-in-class patient care is surging at an exponential pace, compelling healthcare providers to seek out latest technologies. In addition, demand from regions like North America and Europe is positively influencing the sales of indwelling catheters.
Biliary Stents Market: The global market for biliary stents is anticipated to progress at a CAGR of 5% and increase from a market valuation of US$ 315.4 million in 2022 to US$ 402.5 million by the end of 2027. The hospitals segment is expected to expand faster at a CAGR of 6%; this can be attributed to high patient intake capability and the presence of advanced & latest technologies in these settings.
Lower Limb Arterial Stents Market: A lower limb arterial stent is a metal scaffold permanently implanted in an artery to keep the artery open treat patients suffering from Peripheral Artery Disease (PAD). Peripheral artery disease is a progressive disease caused by the accumulation of plaques in the arterial system. Peripheral artery disease affects three major segments – aortic-iliac, femoropopliteal and infra-popliteal arteries. According to National Health and Nutrition Examination Survey (NHANES), the prevalence of PAD is 14.5% among individuals of 70 years or above.
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