The new report by Expert Market Research titled, ‘Global Lung Stent Market Report and Forecast 2023-2031’, gives an in-depth analysis of global lung stent market, assessing the market based on its types, materials, products, end-uses and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2031)
Historical Market Size (2022): USD 97.47 million
Forecast CAGR (2023-2031): 6%
Forecast Market Size (2031): USD 164.68 million
Growing endoscopic therapy adoption and rising minimally invasive surgery preference. Research and development (R&D) funding for innovation of novel non-vascular stents is spurring the adoption of airway stenting. Additionally, increasing funding on healthcare infrastructure is further promoting the development of well equipped, well-furnished, and advanced healthcare facilities.
Lung Stent Industry Definition and Major Segments
A stent is a hollow pipe that enables the user to breathe better. It can be put into the airway to widen the narrowed passageway.
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The global lung stent industry can be broadly categorised based on segments like:
Stainless Steel Stents
Ambulatory Surgery Centres
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Lung Stent Market Trends
Simple repositioning and removal of silicone stents, increased hardness, high mechanical strength, and improved flexibility are the characteristics that distinguish this sector from the others. Also advantageous is the fact that these stents are inexpensive, well-tolerated, and possess sufficient strength to withstand extrinsic compression. As a result, the use of these stents is expanding at an unprecedented rate.
The highest share of this market is projected in North America. The dominant position of North America is due mainly to the presence of a number of major hospitals, solid healthcare facilities, increased disease prevalence, a growing elderly population, and higher healthcare costs.
Key Market Players
The major players in the market are Boston Scientific Corporation, (NYSE: BSX), Taewoong Medical Co., Ltd., Micro-Tech (Nanjing) Co., Ltd., Bess Aktiengesellschaft (Bess AG), E. Benson Hood Laboratories, Inc., Merit Medical Systems, Inc., Cook Group, Efer Endoscopy and among others. The report covers the market shares, capacities, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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