Increasing Preference for Minimally Invasive Procedures
In the recent years, there has been a paradigm shift toward minimally invasive procedures. This trend is primarily due to the advantages of the technique, such as low recovery time, less risk of infections, less blood loss, and the overall reduction in surgical costs. Minimally invasive procedures also provide better cosmetic results that greatly increase patient compliance. Furthermore, there have been significant advancements in the field of intraoperative imaging and gastrointestinal stent design, which are further driving the market expansion. On the stent design and development front, anti-migratory stents have been introduced, and there have been significant advancements in the field of novel technologies, such as anti-reflux stents and drug-eluting stents.
High Risk of Complications
Owing to advances in laparoscopic surgery and intraoperative imaging systems, the gastrointestinal stents are being placed with a high success rate. However, stent migration, obstruction, and perforation remain major issues. These complications can develop after the successful deployment of the stent. Furthermore, since stents are being increasingly used in the management of malignancies, the risk of tumor ingrowth also remains a major concern.
Other factors that can potentially impede the market growth include stringent safety regulations.
North America Dominates the Gastrointestinal Stent Market
In 2017, North America was the largest regional market, in terms of revenue. The increasing prevalence of obstructive gastrointestinal diseases, favorable reimbursement policies, and the presence of major market players are the primary factors behind large market size. Asia-Pacific is expected to grow at a rapid pace over the forecast period, owing to the increasing healthcare expenditure and raising awareness in the developing economies of the region.
Key Developments in the Gastrointestinal Stent Market
Jun 2018: Cook Medical and Taewoong Medical partnered to distribute gastrointestinal stents, which included Taewoong Medical’s Niti-S™ stents, in the United States.
Gastrointestinal Stent Market Major Players:
Boston Scientific Corporation
Cook Group Inc.
CR Bard Inc
Cantel Medical Corporation
ELLA - CS sro
Hobbs Medical Inc.
Merit Medical Systems Inc.
Taewoong Medical Co. Ltd
W. L. Gore & Associates Inc.
Reasons to Purchase Gastrointestinal Stent Market Report
Analyzing various perspectives of the global gastrointestinal stent market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Market Dynamics
6.1 Gastrointestinal Stent Market Drivers
6.1.1 Rising Prevalence of Gastrointestinal Cancer
6.1.2 Rising Geriatric Population and Age-associated GI Disorders
6.1.3 Technological Advances in the Field of Stent Design
6.1.4 Growing Preference for Minimally Invasive Procedures
6.2 Gastrointestinal Stent Market Restraints
6.2.1 High Risk of Complications
6.2.2 Stringent Regulatory Environment
6.3 Gastrointestinal Stent Market Opportunities
6.4 Gastrointestinal Stent Market Key Challenges
7. Market Segmentation
7.1 Gastrointestinal Stent Market By Type
7.1.1 Biliary Stent
7.1.2 Colonic Stent
7.1.3 Duodenal Stent
7.1.4 Esophageal Stent
7.1.5 Pancreatic Stent
7.2 Gastrointestinal Stent Market By Application
7.2.1 Biliary Disease
7.2.2 Colorectal Cancer
7.2.3 Stomach Cancer
7.2.4 Inflammatory Bowel Disease
7.2.5 Other Applications
7.3 Gastrointestinal Stent Market By Geography
7.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
7.3.4 Middle East & Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
7.3.5 South America
22.214.171.124 Rest of South America
8. Gastrointestinal Stent Market Key Players and Competitive Landscape
8.1 Boston Scientific Corporation
8.2 Cook Group Inc.
8.3 CR Bard Inc. (Becton, Dickinson and Company)
8.4 CONMED Corporation
8.5 Cantel Medical Corporation
8.6 ELLA - CS sro
8.7 Hobbs Medical Inc.
8.8 Merit Medical Systems Inc.
8.9 Olympus Corporation
8.10 Taewoong Medical Co. Ltd
8.11 W. L. Gore & Associates Inc.
* List Not Exhaustive
9. Future of the Gastrointestinal Stent Market
- Boston Scientific Corporation
- Cook Group Inc.
- CR Bard Inc. (Becton
- Dickinson and Company)
- CONMED Corporation
- Cantel Medical Corporation
- ELLA - CS sro
- Hobbs Medical Inc.
- Merit Medical Systems Inc.
- Olympus Corporation
- Taewoong Medical Co. Ltd
- W. L. Gore & Associates Inc.