Stents are effective and safe alternatives to surgery or repeated endoscopic procedures in patients with various gastrointestinal (GI) diseases and disorders. Although plastic stent was initially used for malignant GI obstruction, it had many limitations such as the difficulty of insertion technique, high complication rate and poor compliance. In 1990s, self-expanding metal stent (SEMS) with convenient insertion technique, lower complication rate and better compliance has been developed and rapidly replaced the old plastic stent. Advanced technology nowadays enabled the development of new types of SEMSs designed to prevent common complications such as stent migration and re-obstruction, and to maintain longer patency. In addition, the indications for the upper GI stent have been widened to include benign conditions as well as malignant obstruction.
GASTROINTESTINAL STENT MARKET OUTLOOK
The global gastrointestinal stent market is observing significant growth owing to increasing number for colon procedures, growth of the endoscopic ambulatory surgical centers and GI cancers. The market is further boosted by surging demand for minimally invasive procedures due to the benefits, such as less trauma, speedy recovery, along with technological advancements in of gastrointestinal stent. In addition, increasing per capita income is enabling people to take up advanced surgical procedures, thus driving the growth of this market. Active role of healthcare agencies and government in creating awareness about various diseases is also expected to facilitate usage of gastrointestinal stents, thereby supporting market development. However, the market is hindered by complications associated with gastrointestinal stent implementation.
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GASTROINTESTINAL STENT MARKET SEGMENTAL OVERVIEW
The report analyses the global gastrointestinal stent market based on product, material, disease type, end user and geography.
GASTROINTESTINAL STENT MARKET BY PRODUCT
Based on product, the market is categorized into biliary stents, colonic stents, duodenal stents, esophageal stents and pancreatic stents. Indications of stent insertion in the upper GI tract include malignant obstructions, benign strictures or fistulas of the esophagus, stomach or upper small bowel, which are inoperable diseases causing obstructive symptoms.
GASTROINTESTINAL STENT MARKET BY MATERIAL
The gastrointestinal stent market offers materials such as biodegradable or drug eluting stents, metal stents and plastic stents. Boston Scientific, Cook Medical, EndoChoice, Merit Medical Systems, and Taewoong Medical have developed a variety of self-expanding metal stents (SEMS) and plastic stents that enhance the accuracy of stent placement using increased fluoroscopic visibility, minimize foreshortening upon deployment of the devices, maintain positioning and patency through radial forces, and decrease tissue ingrowth with polymer or silicone coating.
GASTROINTESTINAL STENT MARKET BY DISEASE TYPE
Various disease types included in the gastrointestinal stent market are biliary diseases; inflammatory bowel diseases; and gastrointestinal cancers such as, colorectal cancer, stomach cancer, pancreatic cancer and esophageal cancer. Currently, self-expandable metallic stent (SEMS) insertion is the most common intervention for palliation of dysphagia in inoperable patients with esophageal cancer. SEMS is a safe and effective treatment in dysphagia palliation compared to other modalities.
GASTROINTESTINAL STENT MARKET BY END USER
Furthermore, various end users of this market are categorized into hospitals, ambulatory surgical centers and clinics. The hospitals comprise surgical units based in hospitals or attached to hospitals that are equipped with instruments and accessories, including gastrointestinal stents, to perform procedures for diagnostic or treatment purposes.
GASTROINTESTINAL STENT MARKET BY GEOGRAPHY
By geography, the global gastrointestinal stent market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world. In 2018, North America held the largest revenue share mainly due to factors such as government support for quality healthcare, high purchasing power parity, availability of reimbursement, and increasing prevalence of cancers in U.S. and Canada. Furthermore, Asia Pacific is expected to witness lucrative growth over the forecast period owing to supportive government initiatives and improving healthcare infrastructure. Additionally, economic developments in countries, such as India and China, are expected to help spur the market growth. Huge population base with low per capita income in the region led to high demand for affordable treatment options.
GASTROINTESTINAL STENT MARKET KEY PLAYERS
The leading gastrointestinal stent market players are Becton, Dickinson and Company, Boston Scientific, C.R. Bard, Cantel Medical, Conmed, Cook Group, Diagmed Healthcare, Ella–CS, Endo-Flex, M.I. Tech, Merit Medical Systems, Micro-Tech (Nanjing), Olympus and Taewoong Medical. These companies have adopted various strategies, such as new product launches, collaborations, technological advancements, MA, to sustain their position in the market. For instance, In February 2017, Merit Medical Systems acquired the critical care product portfolio of Argon Medical Devices and Catheter Connections, Inc. This acquisition has helped the company to broaden its product offerings and expand geographic presence in the market.
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