The global gastrointestinal (GI) stents market size was valued at USD 314.8 million in 2016 and is expected to grow at a CAGR of 4.7% over the forecast period.Factors such as increasing geriatric population who have stomach or digestive cancer and gradually stabilizing prices of these devices in emerging countries of Asia and Latin America are driving the growth of the market.
Furthermore, increasing adoption of minimally invasive procedures is propelling the growth of gastrointestinal stents market. These devices are becoming the preferred choice for the management of various gastrointestinal diseases due to certain benefits it provides over conventional products in terms of reduced blood loss, lesser chances of infection, shorter hospital stay, and quick recovery.
Biliary stents dominated the product segment in 2016 with the largest revenue share. Biliary stents are used to treat obstructions that occur in the bile ducts. Currently, minimally invasive endoscopic stent placement has evolved to be one of the most successful treatment options for life-threatening benign bile duct structures. This is the key factor resulting in the largest revenue share of the segment.
Moreover, esophageal stent segment is expected to grow at the highest CAGR during the forecast period since it is an important tool for palliative treatment of inoperable esophageal malignancies.
Biliary diseases segment dominated the overall application sector in 2016. Most of the players have biliary stents as one of their prime products, which is used by hospitals and clinics for palliative treatment of biliary diseases.
The market for Esophageal stenting, which includes treating ulcerative colitis, Crohn’s disease, esophageal cancer, and pancreatic cancer, is expected to exhibit the highest growth during the forecast period. Increasing adoption of biodegradable stents for the management of esophageal and pancreatic cancer which results in good palliation for patients in their remaining life span, without any serious risks and complication, would boost the growth of the market.
North America dominated the global market with largest revenue share in 2016. High adoption of minimally invasive surgeries, favorable reimbursement policies, and high rate of new cases diagnosed are some of the prime factors resulting in larger revenue generation in the region.
Asia Pacific is expected to grow at the fastest rate during the forecast period. Factors such as increasing incidence of stomach cancer are expected to drive the growth in the region. The booming medical tourism industry in the region owing to availability of the advanced medical treatments at a cheaper cost is anticipated to expand the patient base in the region. As a result, demand for GI stents is expected to rise significantly in Asia Pacific during the forecast period.
Currently, the global gastrointestinal stents market is highly fragmented with a number of players competing with each other. Some of the players operating in the sector are Boston Scientific, Cook Medical, ELLA-CS, s.r.o., ConMed, Gore Medical, TaeWoong Medical, Hobbs Medical, Inc., C.R. Bard, Merit Endotek, Olympus America and Esophageal stent. Regional expansion, mergers, and acquisition of local players are some of the key strategies adopted by international players to remain competent in the market.
Attribute |
Details |
Base year for estimation |
2016 |
Actual estimates/Historical data |
2014 - 2015 |
Forecast period |
2017 - 2025 |
Market representation |
Revenue in USD Million and CAGR from 2017 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Country scope |
U.S., Canada, U.K., Germany, Japan, China, Brazil, Mexico, South Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional & country levels as well as provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global gastrointestinal stents market on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
Biliary Stent
Duodenal Stent
Colonic Stent
Pancreatic Stent
Esophageal Stent
Application Outlook (Revenue, USD Million, 2014 - 2025)
Biliary Disease
Colorectal Cancer
Stomach Cancer
Others
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
MEA
South Africa
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