(PharmaNewsWire.Com, February 21, 2019 ) According to the new market research report "Gastrointestinal / GI Stent Market by Type (Biliary, Esophageal, Colonic, Pancreatic Stent) Material (Nitinol, Stainless Steel, Plastic) Disease (Biliary Disease, GI Cancer, IBD), End User (Hospital, Ambulatory Surgery Center) - Global Forecast to 2022", published by MarketsandMarkets™, The global gastrointestinal stent market is projected to reach USD 452.6 Million by 2022 from USD 353.4 Million in 2017, at a CAGR of 5.1% during the forecast period.
The increasing preference for minimally invasive surgeries and rising prevalence of GI cancers and other digestive diseases are the major factors driving the growth of the gastrointestinal stent market. The base year considered for the study is 2016, while, the forecast period is 2017 to 2022.
Based on product, the biliary stent segment accounted for the largest share of the global gastrointestinal stent market. This can be attributed to the high prevalence of pancreatic cancer and biliary diseases as well as growth in the number of surgical procedures for the treatment of these diseases.
Based on disease type, the biliary diseases segment accounted for the largest share of the gastrointestinal stent market. The large share of this segment is attributed to the high prevalence of gastrointestinal diseases in the elderly population.
Based on end user, the ambulatory surgery centers segment is expected to register the highest CAGR during the forecast period. Scheduling delays for operation, slow operating room turnover times, and the need for increasing the number of operating rooms in hospitals are the major factors supporting the growth of ASCs.
“North America dominated the gastrointestinal stent market in 2016.” North America accounted for the largest share of the gastrointestinal stent market in 2016, followed by Europe and Asia Pacific. The developed healthcare system, rising geriatric population, and high prevalence of gastrointestinal cancers are the major factors responsible for the large share of North America in the gastrointestinal stent market.
Market Players Prominent players in the global gastrointestinal stent market are Boston Scientific (US), Cook Group (US), C.R. Bard (US), ELLA-CS (Czech Republic), Becton, Dickinson and Company (US), Merit Medical Systems (US), CONMED (US), Cantel Medical (US), Olympus (Japan), Taewoong Medical (South Korea), Micro-Tech (Nanjing) (China), Endo-Flex (Germany), and M.I. Tech (South Korea).
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