Global Gastrointestinal Stent Market is valued at approximately USD 482.59 million in 2022 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2024-2032. Gastrointestinal Stent is a medical device designed to provide support and maintain the patency of the gastrointestinal tract. It is typically used in the treatment of strictures, obstructions, or other conditions that may cause a narrowing or blockage in the digestive system. These stents are tubular structures made of materials such as metal or plastic, and they can be placed endoscopically or radiologically to help keep the GI tract open. The Gastrointestinal Stent market is expected to grow during the forecast period because of factors such as the rising prevalence of gastrointestinal cancer and growing number of geriatric populations. As a result, the demand for Gastrointestinal Stent has progressively increased in the international market during the forecast period 2024-2032.
Gastrointestinal stents are often used as a palliative treatment option for patients with advanced gastrointestinal cancers. Stents can be deployed to relieve symptoms and improve the quality of life for these patients. According to the American Cancer Society's projections for gastric cancer in the United States, there are about 26,890 new cases of stomach cancer in 2023 and around 10,880 deaths from gastric cancer by the year 2024. Furthermore, Gastrointestinal stents are commonly used in minimally invasive procedures, such as endoscopy or laparoscopy, for the placement of stents to alleviate symptoms caused by cancerous obstructions. This approach is less invasive than traditional surgical interventions, leading to quicker recovery times and reduced hospital stays. Another important factor that drives the Gastrointestinal Stent market is the surge in the geriatric population. The aging population often requires more healthcare services, leading to an increase in healthcare expenditure. This can positively impact the gastrointestinal stent market, as healthcare providers invest in advanced medical technologies and devices to meet the growing demand for effective and minimally invasive treatment options for elderly patients. In addition, per World Health Organization indicates that the global population aged 60 and above is expected to double to around 2.1 billion by 2050. Moreover, those aged 80 and beyond are anticipated to triple between 2020 and 2050, reaching a staggering 426 million. Moreover, technological advancements related to gastrointestinal stents and increasing preferences for minimally invasive procedures are anticipated to create a lucrative growth opportunity for the market over the forecast period. However, the high cost of Gastrointestinal procedures and complications associated with gastrointestinal procedures is going to impede overall market growth throughout the forecast period of 2024-2032.
The key regions considered for the Global Gastrointestinal Stent Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing number of patients suffering from gastrointestinal disorders, and the elderly population in the region. Advances in diagnostic techniques and increased awareness about gastrointestinal disorders contribute to early detection and intervention. This early diagnosis may lead to a higher demand for treatment options, including the use of gastrointestinal stents for timely and effective management. The region's dominant performance is anticipated to propel the overall demand for Gastrointestinal Stent. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as rising demand for minimally invasive procedures in the region. The aging population is more prone to gastrointestinal issues, such as strictures, tumors, or obstructions. Minimally invasive procedures are often preferred for older patients due to the associated benefits like reduced complications and faster recovery.
Major market players included in this report are:
Boston Scientific Corporation
Hobbs Medical Inc.
Taewoong Medical Co., Ltd.
Micro-Tech (Nanjing) Co., Ltd.
Olympus Corporation
Merit Medical Systems, Inc.
Qualimed, Inc.
Medtronic, Inc.
Conmed Corporation
Johnson & Johnson Services, Inc.
Recent Developments in the Market:
In February 2023, Olympus Corporation, a global MedTech company dedicated to making people's lives healthier, safer, and more fulfilling, has agreed to acquire Taewoong Medical Co., Ltd, a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents1, to strengthen its GI EndoTherapy product portfolio capabilities, thereby contributing to better patient outcomes through comprehensive solutions.
Global Gastrointestinal Stent Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2024-2032
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Products, Material, Application, End Users, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Products
Biliary stents
Duodenal stents
Colonic stents
Pancreatic stents
Esophageal stents
By Material
Self-expanding metal stents
Nitinol
Stainless steel
Other metal stents
Plastic stents
By Application
Biliary diseases
Irritable bowel syndrome
Gastrointestinal cancers
Colorectal cancer
Stomach cancer
Esophageal cancer
Pancreatic cancer
By End Users
Hospitals and Clinics
Ambulatory Surgical Centers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
