The global demand for biliary stents is presently estimated at US$315.4 million and is projected to grow at a compound annual growth rate (CAGR) of 5% between 2022 and 2027, according to Fact.MR, a supplier of market research and competitive intelligence.
A stent is a metal or plastic tube that is inserted into a duct or lumen in the human body to keep it open. The word 'biliary' describes the bile duct, a long, tube-like organ that transports bile substance. Bile plays an essential role in the breakdown of meals. Biliary disorders are treated using biliary stents.
A paradigm shift in the management of biliary illnesses occurred in 1979 when biliary stents were first utilized to treat malignant biliary strictures. Malignant biliary obstruction, leaky bile ducts, and biliary strictures are among the situations for which biliary stents are used.
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Factors Hindering Biliary Stent Sales
Biliary stents, while effective for treating biliary disorders, can sometimes lead to complications such as blockages, obstructed blood flow, and side effects like fever, abdominal pain, and muscle discomfort. Additionally, there is a risk of creating a hole in the duodenum during or after the stent-in-duct procedure, which could cause bleeding and infections.
Other potential side effects of biliary metal stent placement, such as pain, vomiting, fever, bleeding, nausea, and acute cholangitis associated with CBD stones, can further deter usage.
Serious issues like stent misplacement, displacement, obstruction, perforation, collapse, fractures, and infections are also linked to biliary stents. These complications are expected to suppress demand for biliary stents over the forecast period.
What Is Driving the Growth of the Biliary Stents Market in the United States?
The U.S. biliary stents market is expected to see steady growth over the forecast period, primarily due to the increasing prevalence of biliary diseases.
Conditions such as acalculous cholecystitis, cholangiocarcinoma, choledocholithiasis, benign biliary strictures, and gallbladder disease are becoming more common, contributing to the rise in demand for biliary stents.
According to the National Pancreas Foundation (2019), chronic pancreatitis affects 50 per 100,000 people, highlighting the widespread nature of these conditions. Additionally, rising awareness about biliary diseases and their treatments is further propelling market growth.
The American Cancer Society reports an increase in pancreatic cancer cases, with 57,600 new diagnoses in 2020, compared to 55,440 in 2018.
Additionally, advancements in digital technologies and smartphone applications for biliary stent management are expected to benefit key market players in the U.S.
Competitive Landscape
The global biliary stents market is fragmented and moderately competitive, with a few major players dominating the market share. As the prevalence of stomach-related diseases rises and patient awareness increases, more regional competitors are expected to enter the market during the forecast period.
In response to growing competition and continuous technological advancements, leading players in the biliary stents market have formed strategic partnerships to strengthen their positions.
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