The Global Metal Non-Covered Biliary Stent Market, by Type (Adsorbable and Non-Adsorbable), by Application (Malignant Obstruction, Biliary Leaks, Benign Biliary Strictures, and Others), by End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is expected to be valued at US$ 326.3 million in 2020 and is estimated to exhibit a CAGR of 4.4% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Players in the market are focused on research & development of technologically advanced biliary stents. Moreover, strategic collaborations and joint ventures among market players are expected favor the growth of the global metal non-covered biliary stent market.
For instance, in June 2018, Cook Medical and Taewoong Medical partnered to distribute the line of metal biliary stents in the U.S. This new partnership includes the Niti-S TTS Esophageal Stent, which is the flagship product of Taewoong’s Niti-S Self-Expandable line of metal gastrointestinal (GI) stents. Cook Medical will also distribute Niti-S Biliary Stent in the U.S.
For instance, in October 2017, W.L. Gore & Associates Inc. launched the anti-migration assurance program. This program was announced for GORE VIABIL Short Wire Biliary Endoprosthesis, in which Gore provided a replacement device with identical dimensions for patients whose has moved out of place after the implantation. The GORE VIABIL is a metal biliary stent with high long-term patency and low migration.
Covered Biliary Stent Market - Impact Analysis of COVID-19
The COVID-19 outbreak has affected the metal non-covered biliary stent market growth. The economic slowdown is creating challenges for the growth of this market. The demand for this product has been affected owing to different priorities set during the pandemic. Thus, availability of medical facilities for other chronic and acute diseases was inadequate. The market is however expected to recover in Q4 2020 with the situation getting relaxed.
Browse 26 Market Data Tables and 28 Figures spread through 160 Pages and in-depth TOC on Global Metal Non-Covered Biliary Stent Market, By Type (Adsorbable and Non-Adsorbable), By Application (Malignant Obstruction, Biliary Leaks, Benign Biliary Strictures, and Others), By End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Forecast to 2027”
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Factors such as FDA approvals and the growing healthcare expenditure in the North America region are contributing to the growth of metal non-covered biliary stent market. For instance, in March 2019, BrightWater Medical Inc. received U.S. FDA approval for its ConvertX Biliary stents for biliary duct recurrent obstruction treatment. The company’s ConvertX is the first-ever system to provide an option of plastic percutaneous biliary to the interventional radiologists.
Key Takeaways of the Global Metal Non-Covered Biliary Stent Market: