Global Lung Stent Market to be Driven by the Increasing Prevalence of Lung Cancer and Chronic Respiratory Disorders Worldwide, Along with Patient's Increasing Preference for Minimally Invasive Procedures in the Forecast Period of 2021-2026

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18 Nov 2021, 16:24 GMT+10

The new report by Expert Market Research titled, 'Global Lung Stent Market Report and Forecast 2021-2026', 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.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

Historical Market Size (2020): USD 86.75 million
Forecast CAGR (2021-2026): 6%
Forecast Market Size (2026): USD 116 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.

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.

The global lung stent industry can be broadly categorised based on segments like:

Type:

Tracheobronchial Stents
Laryngeal Stents

Material:

Metal Stents
Nitinol Stents
Stainless Steel Stents
Silicone Stents
Hybrid Stents
Others

Product:

Self-Expandable Stents
Non-Expandable Stents

End-Use:

Hospitals
Ambulatory Surgery Centres

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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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 are 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, growing elderly population and higher health care costs.

Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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.