The global non-vascular stents market size was valued at USD 916.1 million in 2016 and is expected to grow at a CAGR of 5.1% during the forecast period. Rising geriatric population, growth in prevalence of chronic & other diseases, and increase in per capita healthcare spending are expected to boost the market growth during the forecast period. In addition, an increase in the adoption of minimally invasive surgeries worldwide is also anticipated to support market growth.
Geriatric population is prone to develop chronic diseases such as lung cancer, pancreatic cancer, gallbladder cancer, colon/colorectal cancer, stroke, asthma, Chronic Obstructive Pulmonary Disease (COPD), chronic pancreatitis, prostate cancer, glaucoma, and this is expected to facilitate an increase in demand for non-vascular stents over the forecast period. WHO estimates that the global population aged 60 years and above will rise from 841.0 million in 2013 to over 2.0 billion by 2050.
The prevalence of gastrointestinal cancer is constantly increasing across the globe, which is expected to nurture the non-vascular stents market growth. The GI Cancer Institute of Australia reported that about 24,000 Australians are diagnosed with this disease every year. Moreover, as per statistics published by the American Cancer Society, in 2016, nearly 26,370 individuals were diagnosed with stomach cancer in the U.S. It further states that around 28,000 new cases of stomach cancer will be diagnosed by 2017.
The World Bank Group stated that the global per capita healthcare expenditure increased by around 55.0% from 1996 to 2014. Currently, the healthcare expenditure of the U.S. is around 2.4 times higher than the global average and is anticipated to increase by 68.0% in the next 10 years. In addition, the IBM Global Business Services executive report stated that the per capita healthcare expenditure of the U.S. was nearly USD 9,400.0 in the year 2014. This rise in per capita healthcare expenditure across the globe is expected to spur the market growth over the forecast period.
The products analyzed in this study include gastrointestinal, pulmonary or airway, urological, and other stents. The gastrointestinal stents segment is further categorized into biliary, duodenal, colonic, pancreatic, and esophageal stents. Also, the pulmonary stents are further classified into the silicone airway and metallic airway stents.
The urological stents segment emerged as the largest segment due to the increasing prevalence of ureteral diseases, such as renal calculi or kidney stones, urinary tract infection, and prostate cancer, across the world. A surge in the number of ureteroscopy and ureterorenoscopy, lithotripsy, and schistosomiasis procedures across the world is anticipated to propel the demand for urological stents.
The gastrointestinal stents segment is expected to register a comparatively higher CAGR over the forecast period. This can be attributed to the growing incidence of gastrointestinal cancer, such as cancer of the stomach, esophagus, gall bladder, pancreas, liver, small intestine, bowel, and anus, coupled with increasing preference of patients for minimally invasive surgeries around the globe.
The worldwide rise in incidence of biliary diseases such as bile duct cancer, gallstone disease, and primary biliary cholangitis is expected to positively impact the growth of the biliary stents market over the forecast period.
North America held over 32.0% share in the market in 2016 owing to the increasing prevalence of lung cancer, glaucoma, central airway obstruction, COPD, asthma, and other chronic diseases in the U.S. and Canada. Local presence of major market players, target population, and robust healthcare infrastructure in the region further supported the dominance of this region.
Europe is also expected to hold a substantial market share during the forecast period due to the flourishing medical technology sector and the increasing prevalence of gastric cancer in the EU5 countries. On the other hand, Asia Pacific is expected to register a higher CAGR over the forecast period as compared to other regions due to favorable government initiatives for use of such medical devices, rising geriatric population, and increasing healthcare expenditure.
Some of the major players in this industry are Medtronic; C. R. Bard, Inc.; Boston Scientific Corporation; ELLA - CS, s.r.o.; CONMED Corporation; HOBBS MEDICAL, INC; Cook Medical; Taewoong Medical Co., Ltd.; Synchron Med Inc.; and Glaukos Corporation.
These players focus on various growth strategies such as new product launches and mergers & acquisitions as well as on patient awareness campaigns. For instance, in June 2013, Cook Medical launched Evolution Biliary Controlled-Release Uncovered Stent in the U.S. This stent is used to drain obstructed biliary ducts.
Report Attribute |
Details |
Market size value in 2020 |
USD 1.10 billion |
Revenue forecast in 2025 |
USD 1.4 billion |
Growth Rate |
CAGR of 5.1% from 2017 to 2025 |
Base year for estimation |
2016 |
Historical data |
2014 - 2016 |
Forecast period |
2017 - 2025 |
Quantitative units |
Revenue in USD million and CAGR from 2017 to 2025 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, region |
Regional scope |
North America; Europe, Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; Brazil; Mexico; South Africa |
Key companies profiled |
Medtronic; C. R. Bard, Inc.; Boston Scientific Corporation; ELLA - CS, s.r.o.; CONMED Corporation; HOBBS MEDICAL, INC; Cook Medical; Taewoong Medical Co., Ltd.; Synchron Med Inc.; Glaukos Corporation |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the non-vascular stents market on the basis of product and region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
Gastrointestinal Stents
Biliary
Duodenal
Colonic
Pancreatic
Esophageal Stents
Pulmonary (Airway) Stents
Silicone Airway
Metallic Airway
Urological Stents
Others
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
The U.S.
Canada
Europe
Germany
The U.K.
France
Italy
Spain
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
The Middle East and Africa (MEA)
South Africa
b. The global non-vascular stents market size was estimated at USD 1.05 billion in 2019 and is expected to reach USD 1.10 billion in 2020.
b. The global non-vascular stents market is expected to grow at a compound annual growth rate of 5.1% from 2017 to 2025 to reach USD 1.42 billion by 2025.
b. North America dominated the non-vascular stents market with a share of 31.77% in 2019. This is attributable to increasing prevalence of lung cancer, glaucoma, central airway obstruction, COPD, asthma, and other chronic diseases and robust healthcare infrastructure in the region.
b. Some key players operating in the non-vascular stents market include Medtronic; C. R. Bard, Inc.; Boston Scientific Corporation; ELLA - CS, s.r.o.; CONMED Corporation; HOBBS MEDICAL, INC; Cook Medical; Taewoong Medical Co., Ltd.; Synchron Med Inc.; and Glaukos Corporation.
b. Key factors that are driving the market growth include growing geriatric population, rise in prevalence of chronic & other diseases, and increase in per capita healthcare spending .
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