Airway Stent/Lung Stent Market - Growth, Trends, and Forecasts (2020 - 2025)
|出版商||Mordor Intelligence Pvt Ltd||商品編碼||921870|
|出版日期||內容資訊||英文 112 Pages
|全球呼吸道支架/肺支架市場:成長，趨勢，及預測(2020年∼2025年) Airway Stent/Lung Stent Market - Growth, Trends, and Forecasts (2020 - 2025)|
|出版日期: 2020年06月01日||內容資訊: 英文 112 Pages||
The airway stent market is believed to witness a healthy growth in the future which is majorly attributed to the rising prevalence of lung and respiratory disorders, and the growing preference of people for minimally invasive surgery.
The American Cancer Society has stated that for the year 2019, about 228,150 new cases of lung cancer are expected to rise in the United States and there would be around 142,670 deaths from lung cancer that the country is expected to witness. Added to that, Chronic obstructive pulmonary disease (COPD) is posing a burden on global healthcare. For instance, the World Health Organization has reported that there were around 251 million cases of COPD globally in 2016. During the year 2016-2017, approximately 3.17 million deaths were caused by COPD. Owing to the rising cases of lung diseases and respiratory disorders, the market for stents used during the surgery of lung or respiratory systems is increasing.
In addition, surgery with the airway or lung stent is minimally invasive surgery. This means there is a lesser hospital stay and there is a minimal pain generated post-surgery. Due to the ease of minimally invasive surgeries, there is a large number of people that are preferring this across the globe which is adding value to the market.
Silicon Stents are Expected to Witness Rapid Growth
The silicon stents are proven to be more safe, cost-effective and easy to manipulate when compared to other stents with different materials. The silicon stents come in balloon-expandable and expandable versions. These stents have been very useful in the patients suffering from tracheobronchial strictures both benign and cancer-related. A National Institute of Health has stated that there have been several studies that suggest the efficacy of silicone stents and the successful airway palliation in 85% to 95% cases has been seen from the studies.
Added to that, the silicon stents are also useful in the lung transplantation strictures which makes these stents more significant in terms of preference during the treatment. Owing to its advantages over metallic stents, it is widely being used which is propelling the growth of this segment.
North America Dominates the Market
Being the most developed and advanced region, North America is the world's largest medical device market and airway stents are no exception for the same. Due to the developed healthcare system, the reimbursement scenario for medical devices such as stents is good in the United States. For instance, Medicare Part B covers the majority of stent placement procedures, paying 80 percent of the costs.
In addition, the growing geriatric population and the increasing lung/respiratory disorders in the United States are some of the factors fuelling growth of the market. The presence of large number of companies that manufacture airway/lung stents in the country is again a significant factor that is responsible for the large market size.
The market for airway stents is moderately competitive with the presence of international players as well as few local companies in several countries. However, the major share of the market is grabbed by international players only. The major companies have adopted strategies like mergers and acquisitions and strategic alliances to gain a competitive advantage in the market. Additionally, companies are also more focused on the development of technologically advanced products, which deliver greater accuracy and efficiency.