The new report by Expert Market Research titled, ‘Global Biliary Stent Market Share, Report and Forecast 2022-2027’, gives an in-depth analysis of the global biliary stent market, assessing the market based on its segments like types, applications, 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 (2017-2027)
• Forecast CAGR (2022-2027):4.9%
The increasing incidence of gallstones and the significantly rising prevalence of pancreatic and bile duct cancer are anticipated to propel the use of biliary stents. Increased utilisation of percutaneous transhepatic cholangiography (PTC) and endoscopic retrograde cholangiopancreatography (ERCP) procedures has been observed to augment the demand for biliary stents and recurring stenting procedures, driving the market growth.
The increasing population diagnosed with chronic liver disease and bile duct cancer is also expected to aid the overall growth of the biliary stents market globally. Inflammation of the liver as a result of liver disease can cause bile duct blockage, necessitating the placement of a biliary stent. Owing to the above-mentioned factors, the market for biliary stents is anticipated to remain driven throughout the forecast period.
Industry Definition and Major Segments
Biliary stenting is the procedure of inserting stents (tubes composed of plastic or metal) into the biliary tree to clear obstructions or treat biliary leakage. It can be used to reduce obstruction in both benign and malignant biliary tract diseases, as well as palliative treatment for advanced biliary tract cancers.
By type, the market is segmented into:
• Metal Stents
• Polymer Stents
The major applications of the market are:
• Malignant Obstruction
• Biliary Leaks
• Benign Biliary Structures
By end use, the market is classified into:
• Diagnostic Laboratories
• Ambulance Surgical Centres
• Speciality Clinics
• Research and Academic Institutes
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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The increasing adoption of minimally invasive procedures is propelling the market demand. Increasing technological advancements in the identification and treatment of gastrointestinal problems, particularly bile duct obstruction, provide several advantages, including shorter hospital stays, lower infection risks, and faster recovery. As a result of these factors, the adoption rate of biliary stents is increasing, adding to the overall growth of the biliary stents market.
Additionally, the growing geriatric population, which is more vulnerable to diseases like pancreatic cancer, gallstones, and other malignant obstructions, is one of the primary drivers driving global market expansion. Also, increasing awareness of advanced technology for the diagnosis and treatment will likely favour the global biliary stents market forecasts.
Key Market Players
The major players in the market are Cook Group Incorporated, Medtronic Plc, Olympus Corporation, Boston Scientific Corporation (BSC), CONMED Corporation, and Becton, Dickinson, and Company (BD), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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