Airway Stent/Lung Stent Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Airway Stent/Lung Stent Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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.

Key Market TrendsSilicon 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.

Competitive Landscape

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.

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Companies Mentioned

Bess AG
Boston Scientific Corporation
Cook Group
E. Benson Hood Laboratories Inc.
Efer Endoscopy
Flex GmbH
Merit Medical Systems, Inc.
Tech (Nanjing) Co. Ltd.
Standard Sci Tech Inc.
Taewoong Medical Co. Ltd.

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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Lung and Rspiratory Disorders
4.2.2 Growing Preference of People For Minimally Invasive Surgeries
4.3 Market Restraints
4.3.1 Availability of Alternative Treatments
4.3.2 Complications Associated with Stents
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Product
5.1.1 Self-Expandable Stents
5.1.2 Balloon- Expandable Stents
5.2 By Material
5.2.1 Metal Nitinol Stainless Steel
5.2.2 Silicone
5.2.3 Hybrid
5.3 By Type
5.3.1 Tracheobronchial Stents
5.3.2 Laryngeal Stents
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Bess AG
6.1.2 Boston Scientific Corporation
6.1.3 Cook Group
6.1.4 E. Benson Hood Laboratories Inc.
6.1.5 Efer Endoscopy
6.1.6 Endo-Flex GmbH
6.1.7 Merit Medical Systems, Inc.
6.1.8 Micro-Tech (Nanjing) Co. Ltd.
6.1.9 Standard Sci Tech Inc.
6.1.10 Taewoong Medical Co. Ltd.

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