The Global Non-Vascular Stents Market, by Product Type (Urological Stents, Gastrointestinal Stents, Pulmonary Or Airway Stents, Others), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 934.7 million in 2017 and is projected to exhibit a CAGR of 4.7% over the forecast period (2017 – 2025).
The non-vascular stents market is expected to gain significant traction due to rising prevalence of urological and gastrointestinal diseases coupled with increasing applications in emerging fields such as ophthalmic and neural science. Rising prevalence of urological and gastrointestinal disorders is expected to drive growth of the market Rising prevalence of urological and gastrointestinal disorders is increasing demand for non-vascular stents. According to the American Cancer Society, in the U.S., around 40,000 new cases of rectal cancer and around 93,000 new cases of colon cancer are diagnosed each year. According to the American Society of Nephrology report, 2016, increasing number of people in the U.S. are developing kidney stones, including children and adults. Increasing incidence of kidney stones, tumors, strictures, and retroperitoneal fibrosis is expected to increase demand for non-vascular ureteral stents.
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Key players are focusing on research activities, product approvals, and launches to accelerate business growth. Most players are exclusively developing non-vascular stent products, while few others are focusing on manufacturing peripheral and coronary stents. ELLA-CS and Taewoong Medical Co., Ltd. focus completely on gastrointestinal stents. Single-product start-ups such as Transcend Medical, Aquesys, and Ivantis Medical are pharmaceutical and material manufacturers that play an important role in new product innovations. Manufacturers are required to efficiently train surgeons and physicians to carry out non-vascular stents procedures, in turn boosting adoption rates. Major industry players also focus on strategic collaborations to increase their market share. For instance, in 2009, Merit Medical Systems acquired the products previously distributed and manufactured by Alveolus, Inc., including Merit Endotek.
Key Takeaways of the Non-vascular Stents Market: