The global lung stent market provides stenting solutions to patients suffering from disorders related to the airways and lungs including lung cancer, chronic obstructive pulmonary disease (COPD), and emphysema. Lung stents help in keeping the airways or lungs open by acting as scaffolds to prevent collapsing after procedures like lung volume reduction surgery. They are made from either metal such as nitinol or silicone and are available in different sizes depending on the part of lung they are meant for. The increasing prevalence of lung cancer and other lung diseases has fuelled the demand for innovative lung stents that provide safe and effective treatment for blocked airways.
The Global Lung Stent Market is estimated to be valued at US$ 206.5 million in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the global lung stent market are Boston Scientific, Cook Medical, Medtronic, Taewoong Medical, Hospitech, Bess, Endo-Flex, Efer Endoscopy, W. L. Gore & Associates, BD, Edwards Lifesciences, Healthy Medical Corporation, Pulmonx Corporation, Meril Life Sciences Pvt. Ltd and C. R. Bard Inc.
Key players are focusing on new product launches and approvals to expand their lung stent portfolio. In 2021, Pulmonx Corporation received FDA approval for its Zephyr Endobronchial Valve for the treatment of severe emphysema. The company is also working on obtaining approval in other key markets like Europe and Japan.
North America dominates the Global Lung Stent Market Growth due to the growing bronchoscopy procedures in the US and Canada. However, Asia Pacific is expected to witness highest CAGR during the forecast period with countries like China, India, and Japan emerging as high potential markets. This can be attributed to rising healthcare expenditure, availability of low-cost procedures, and increasing focus of global players on tapping opportunities in Asia.
Market Drivers
Rising prevalence of lung cancer is a major factor boosting the demand for lung stents. According to statistics, around 2.1 million new cases of lung cancer are reported globally each year making it the most common type of cancer. Early detection helps to provide stent placement as an option in blockages caused due to cancerous tumors.
Technological advancements have resulted in the development of novel stents with features like biodegradability, drug eluting coatings, and customized designs as per lung morphology. This has enhanced safety, efficacy and outcomes of stenting procedures propelling the market growth.
Market Restraints
High costs associated with stent placement procedures limit their adoption in price sensitive developing regions. Prices range upwards from $3000 in the US. This is a major challenge especially in emerging Asian and Latin American markets.
Traditional operations involving surgery are still preferred over stenting in some parts of the world as patient's perception of surgery being superior still prevails. Lack of proper awareness about lung stents acts as a restraint to the market.
Segment Analysis
There are different types of lung stents used in the market based on the application and site of deployment. Metal lung stents dominate the market currently due to their durability and longer lifespan. Metal lung stents are widely used to treat malignant and non-malignant lung conditions such as lung cancer and emphysema. This sub-segment accounts for over 50% of the overall lung stent market share as metal stents are able to withstand lung pressure and structural stress over longer periods of time compared to other material based stents.
Global Analysis
North America currently dominates the global lung stent market and is expected to continue its dominance during the forecast period owing to the rising geriatric population, high prevalence of lung cancer, advanced healthcare infrastructure and availability of reimbursements. Asia Pacific is anticipated to witness fastest growth rate during the forecast period due to improving medical facilities, growing disposable income, increasing healthcare expenditure and rise in number of lung procedures being performed in major countries like China and India.
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The new report by Expert Market Research titled, ‘Global Lung Stent Market Report and Forecast 2021-2026’, gives an in-depth analysis of global lung stent market, assessing the market based on its types, materials, products, end-uses and major regions.
The sample report shall be delivered to you within 24 hours.Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/lung-stent-market/requestsampleThe key highlights of the report include:Market Overview (2016-2026)Historical Market Size (2020): USD 86.75 millionForecast CAGR (2021-2026): 6%Forecast Market Size (2026): USD 116 millionGrowing endoscopic therapy adoption and rising minimally invasive surgery preference.
Additionally, increasing funding on healthcare infrastructure is further promoting the development of well equipped, well-furnished, and advanced healthcare facilities.Industry Definition and Major SegmentsA stent is a hollow pipe that enables the user to breathe better.
It can be put into the airway to widen the narrowed passageway.The global lung stent industry can be broadly categorised based on segments like:Type:Tracheobronchial StentsLaryngeal StentsMaterial:Metal StentsNitinol StentsStainless Steel StentsSilicone StentsHybrid StentsOthersProduct:Self-Expandable StentsNon-Expandable StentsEnd-Use:HospitalsAmbulatory Surgery CentresThe regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/lung-stent-marketMarket TrendsSimple repositioning and removal of silicone stents, increased hardness, high mechanical strength, and improved flexibility are the characteristics that distinguish this sector from the others.
The dominant position of North America is due mainly to the presence of a number of major hospitals, solid healthcare facilities, increased disease prevalence, growing elderly population and higher health care costs.Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours.
Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.Key Market PlayersThe major players in the market are Boston Scientific Corporation, (NYSE: BSX), Taewoong Medical Co., Ltd., Micro-Tech (Nanjing) Co., Ltd., Bess Aktiengesellschaft (Bess AG), E. Benson Hood Laboratories, Inc., Merit Medical Systems, Inc., Cook Group, Efer Endoscopy and among others.
The report "Lung Stent Market by Type (Tracheal, Bronchial, Laryngeal Stent), Product (Non-Expandable, Self-Expandable Stents), Material (Metal (Nitinol, Stainless Steel), Silicone, Hybrid), End User (Hospitals, ASCs) - Global Forecast to 2024", is projected to reach USD 120 million by 2024 from USD 87 million in 2019, at a CAGR of 6.7%.
Factors such as the rise in the prevalence of lung cancer & chronic respiratory diseases and the growing preference of minimally invasive procedures are expected to drive the growth of the airway/lung stent market.
The need for customized lungs stents and the ability to currently print the stents using 3D printing techniques are expected to create growth opportunities for this market.Browse 137 market data Tables and 34 Figures spread through 164 Pages and in-depth TOC on "Airway Stent/Lung Stent Market by Type (Tracheal, Bronchial, Laryngeal Stent), Product (Non-Expandable, Self-Expandable Stents), Material (Metal (Nitinol, Stainless Steel), Silicone, Hybrid), End User (Hospitals, ASCs) - Global Forecast to 2024"Get Free PDF - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=32315890The tracheobronchial stents segment is expected to account for the largest share of the airway stent/lung stent market in 2019.Based on type, the airway stent/lung stent market is categorized into tracheobronchial and laryngeal stents.
In 2019, the tracheobronchial segment is expected to account for the largest share of the airway/lung stent market.
The large share of this segment can be attributed to the high adoption of tracheal and bronchial stents in the treatment of lung cancer and other chronic respiratory diseases.The self-expandable stents segment is estimated to hold the largest share of the airway stent/lung stent market in 2019.Based on the product, the airway stent/lung stent market is segmented into expandable and non-expandable stents.
Of this, the expandable stents segment is estimated to hold a larger share of the market in 2019, due to the higher preference of these stents by surgeons due to advantages such as easy insertion in bronchoscopy procedures, lower risks of stent-induced complications, small size, and their easy removal.Hospitals will account for the largest share of the airway stent/lung stent market in 2019.The airway stent/lung stent market is segmented into hospitals and ambulatory surgical centers.
The Global Prostatic Stent Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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