Airway Stent / Lung Stent Market by Type (Tracheal, Laryngeal), Product (Self expandable, Balloon expandable), Material (Metal (Nitinol, Stainless Steel) Silicone, Hybrid), Procedure (Bronchoscopy (Rigid, Flexible), Laryngoscopy) - Global Forecast to 2022
“The global lung stents market projected to grow at a CAGR of 6.7%.”
The lung stents market is expected to reach USD 105.6 million by 2022 from an estimated USD 76.3 million in 2017, at a CAGR of 6.7% from 2017 to 2022. The rapidly increasing geriatric population, rising preference for minimally invasive procedures, high prevalence of tobacco smoking, and rising prevalence of lung cancer and other respiratory diseases are the major factors driving the growth of the significant growth drivers of lung stents market. However, availability of alternative treatments for target indications is limiting the adoption of lung stents up to some stent during the forecast period.
“The tracheal stents segment is expected to register the highest CAGR during the forecast period.”
On the basis of type, the lung stents market is segmented into tracheal stents and laryngeal stents. The tracheal stents segment is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the rising incidence of lung cancer, increasing prevalence of chronic diseases such as COPD & asthma, rapid growth in the geriatric population, and improving healthcare affordability in developed countries
“Bronchoscopy procedure segment expected to grow at the highest CAGR during 2017 to 2022.”
Based on procedure, the lung stents market is segmented into bronchoscopy and laryngoscopy. Bronchoscopy procedure segment is further subsegmented into rigid bronchoscopy and flexible bronchoscopy. The bronchoscopy segment is expected to grow at the highest CAGR during the forecast period. The significant growth in the prevalence of lung cancer, COPD, asthma, and other diseases such as bronchitis, tracheal stenosis, and tracheomalacia, thereby, increasing the demand for bronchoscopy procedures in the coming years.
“APAC is projected to witness the highest growth during the forecast period.”
North America held the largest share of the global lung stents market in 2016. On the other hand, the Asia-Pacific region is expected to witness the highest CAGR during the forecast period, owing to the rapidly developing healthcare industry in China and India, growth in aging population, rising life expectancy, rising per capita income, increasing investments in the region by key market players, the expansion of private-sector hospitals & clinics to rural areas, the availability of low-cost labor for manufacturing, presence of a favorable regulatory environment. In addition to this, according to the American Cancer Society, Asia Pacific accounted for 55.2% of the global COPD patients in 2014.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–21%, Tier 2–26% and Tier 3–53%
• By Designation – C-level–32%, Director Level–26%, Others–42%
• By Region – North America–26%, Europe–35%, Asia Pacific–20%, Latin America–11%, Middle East & Africa–8%
Some of the major market players in the lung stents market are Boston Scientific (US), C.R. Bard (US), Teleflex (US), Cook Group (US), Merit Medical Systems (US), Novatech (France), Fuji Systems (Japan), Taewoong Medical (South Korea), ENDO-FLEX (Germany), M.I.Tech (South Korea), Micro-Tech (Nanjing) (China), EFER ENDOSCOPY (France), Hood Laboratories (US), S&G BIOTECH (South Korea), Changzhou Health Microport Medical Device (China), and Kapitex Healthcare (UK).
The report analyzes the various lung stents and their adoption pattern. It aims at estimating the market size and future growth potential of the global lung stents market for different segments such as type, product, procedure, material, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global lung stents market. The report analyzes the global lung stents market by type, product, procedure, material, end user, and region
• Product Development/Innovation: Detailed insights on upcoming trends and new product launches in the global lung stents market
• Market Development: Comprehensive information on the lucrative emerging regions by type, product, procedure, material, end user.
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global lung stents market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global lung stents market
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook