Global Airway Stent/Lung Stent Market - 2022-2029
Airway Stent/Lung Stent Market size was valued at US$ XX million in 2022 and is expected to reach US$ XX million by 2029, growing at a CAGR of 6.3% during the forecast period (2022-2029).
The airway stent/lung stent is an endobronchial prosthesis made up of either metal or silicone that maintains potency and supports the tubular hollow airway structure. This stent may hamper tumor extension into the airway. It provides support against external compression to the airway wall and can heal and manage airway fistulas.
The major factors driving the global airway stent/lung stent market includes rising demand for airway stents owing to increasing incidences of respiratory disorders such as COPD and malignant airway stenosis, technological advancements and novel product launches.
The increasing adoption of minimally invasive procedures and novel technological advancements are expected to drive the market’s growth.
The airway stent/lung stent market is driven by various factors such as rising advancements in technology, an increase in the geriatric population, a surge in research and development investments, rising adoption of minimally invasive procedures by people, an increasing number of respiratory disorders such as central airway obstruction, tracheobronchomalacia and COPD, and improvements in novel products using the latest technology along with improvements in medical infrastructure in emerging markets.
The airway stent/lung stent is used to provide support to the airway walls against the external compression. Due to COVID, the government started raising various funds and initiatives to meet the demand for the airway stent/lung stent. These funds will help in the production of all essential healthcare products. The market for these products is increasing worldwide due to the enhanced number of respiratory disorders. Moreover, the availability of technologically advanced products by key players is also expected to play a vital role in the market’s growth.
Various novel product launches and research studies contribute to the market’s growth. For instance, on September 20, 2022, Getinge and Medtronic announced their supply partnership for Radiant covered stent that recently received a CE mark. This stent is also known as Advanta V12 balloon expandable covered stent that is developed by Getinge and marketed by Medtronic. Medtronic offerings provide advantage to Getinge stent portfolio (Atrium Medical).
Complications associated with airway stent/lung stents are expected to hamper the market’s growth.
Various complications and side effects after using airway stent/lung stents have been observed, such as bronchoscopy-associated complications due to the placement or sizing technique of the stents. Several long-term stents associated complications, including stent migration, infections, mucus plugging, obstructions by tumors and fractures, were reported. These complications occur due to mucociliary clearance, oversizing of stent, covering or dynamic nature of the movement of airway with respiration are some of the major factors hindering the growth of the airway stent/lung stent market.
Frequent product recalls are the other factor that can limit the growth of market. For instance, on June 03, 2022, Getinge (Atrium Medical) recalled around 69.000 iCast covered stent systems from the U.S. due to several complaints. FDA labeled it under class I event.
COVID-19 Impact Analysis
The pandemic has positively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The airway stent/lung stent market has experienced huge profits due to COVID, as the incidence of respiratory disorders increased due to the virus leading to demand these airway stent/lung stents. Key manufacturers have started various research and clinical trials. Various initiatives, product launches, collaborations and mergers are happening worldwide, boosting the market’s growth.
The self-expandable stents segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
The self-expandable stents segment is the highest market holder in the global airway stent/lung stent market. The global airway stent/lung stent market is segmented based on product as a self-expandable stents and balloon-expandable stents. The self-expandable stents segment is the largest market shareholder due to its inherent advantages over non-expandable or balloon-expandable stent, increasing technological advancements and novel product launches.
The self-expandable stents are widely used for treating malignant central airway obstruction. Specially the self-expandable metallic stents that are fully covered are the latest generation of stents that provides solution for difficult removal of stents and in-stent granuloma formation. The self-expanding metallic stents provides various advantages including good cross-sectional airway diameter due to thin wall construction, low migration rate, better epithelialization within the stent, great ease of placement and improved conformation to airways that are irregular.
The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drive the market’s growth. For instance, on July 16, 2020, Olympus, medical procedures innovative solutions developer and provider announced its HANAROSTENT esophagus through the scope (TTS) self-expanding metal stents (SEMS) that are developed by M.I. Tech and will be distributed by Olympus in the U.S. This latest innovation will help achieving luminal patency in various clinical applications and will be used for esophageal stricture pr trachea-esophageal fistula treatment caused due to tumors.
North America holds the largest market share in the global airway stent/lung stent market.
North America dominates the global airway stent/lung stent market primarily due to its large population, excellent medical infrastructure, and high-income levels. The market is estimated to grow at a relatively high pace during the forecast period due to healthcare expenditure in the U.S. The market’s significant size is attributed to the high medical expenditure.
Increasing expenditure on healthcare and raising awareness among people are also contributing to the market’s growth in this region. Advancement of materials and products of the airway stent/lung stent in several respiratory disease such as airway obstruction or surgical procedures, increase in pharmaceutical establishment across the region and government approvals, and the presence of key players in the region are contributing to the growth of the airway stent/lung stent market.
Moreover, the growing number of product launches is responsible for the market’s growth. Many key developments, technological advancements, collaborations, and agreements are taking place in this region. For instance, on Jan 29, 2020, Cook Medical announced its collaboration with Bentley in clinical trials that involved fenestrated and branch stent grafts of Cook and covered stents of Bentley.
The airway stent/lung stent market is moderately competitive with local and global companies’ presence. Boston Scientific Corporation, Hood Laboratories, Merit Medical Systems, Inc., Cook Medical, Taewoong Medical Co., Ltd., Novatech SA, Olympus, Getinge AB, Micro-Tech (Nanjing) Co., Ltd., M.I. Tech Co., Ltd. are among the key players. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, on June 15, 2022, Boston Scientific Corporation announced its agreement to purchase developer and marketer of endoscopic and urologic medical device company M.I. Tech Co., Limited’s majority stake with Synergy Innovation Co., Ltd. M.I. Tech Co., Ltd., has developed HANAROSTENT, self-expanding, non-vascular metal stents.
Boston Scientific Corporation
Overview: Boston is a multinational biomedical engineering company. It manufactures medical devices that include interventional cardiology, neurovascular intervention, cardiac surgery, oncology, vascular surgery etc. it also offers minimally invasive implantable cardiovascular defibrillators. It was founded in 1979 and is headquartered in Massachusetts, U.S.
Ultraflex Tracheobronchial Stent System: This Ultraflex Tracheobronchial Stent System is sued for tracheobronchial strictures treatment that are produced by malignant neoplasms, resists tumor growth and maintain patency by exerting constant radial pressure.
The global airway stent/lung stent market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.
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