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(MoneyNewsWire.Net, February 28, 2018 ) The global lung stents market is projected to reach USD 105.6 Million by 2022 from USD 76.3 Million in 2017, at a CAGR of 6.7%. 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 lung stents market.
The report analyzes the global lung stents market by type, product, material, procedure, end user, and region. On the basis of product, the self-expandable stents segment accounted for the largest share of the global lung stents market in 2016. The large share of this segment is due to their easy removability, decreased possibility of complications, and the higher adoption of this stents by intervention pulmonologists.
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Based on material, the metal stents segment accounted for the largest share of the lung stents market in 2016. The large share of this segment can be attributed to their ease of insertion, thinner walls as compared to silicone stents, a lower possibility of dislodgment or migration, and ability to adapt to the twisted airway.
The global lung stents market by end user is segmented into hospitals and ambulatory surgery centers. In 2016, the hospitals segment accounted for the largest share of the market. The large share of this segment can be attributed to the rising number of bronchoscopy procedures in hospitals and favorable reimbursement scenario in most developed countries.
Geographically, the global lung stents market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2016, North America accounted for the largest share of the lung stents market in 2016, followed by Europe and Asia Pacific. The presence of a highly developed healthcare system, rising geriatric population, increasing incidence of lung cancer, quick adoption of new and innovative products, and a large number of lung stents manufacturing companies in this region are the major factors responsible for the large share of North America in the global lung stents market.
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There are several alternative treatments for tracheal stenosis, including treatment with steroid regimen, anterior cricotracheal resection (splitting), laryngofissure creation (with the help of anterior lumen augmentation), tracheostomy cannula, and end-to-end anastomosis. The presence of these alternatives is limiting the adoption of lung stents during the treatment of target patients.
The prominent players in the global 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).
Boston Scientific (US) commanded market share of the global lung stents market in 2016. Over the past three years, the company has been focusing on expanding its product portfolio in intervention pulmonology by acquiring the small and mid-size organizations. This is evident from its recent acquisition of EndoChoice Holdings (US) that manufactures products for gastroenterology and intervention pulmonology segment. Pulmonary stents such as Ultraflex, Dynamics and Polyflex, manufactured by Boston Scientific have set a benchmark in the lung stents market. For interventional bronchoscopy, the company provides products designed to perform biopsies and retrieve foreign bodies from airways and to open narrowed airways. Innovative products and the company’s brand value helps the company maintain its leading position in the market.
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+1 888 709 8757
dani@researchcosmos.com
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