The gastrointestinal stent market was valued at USD 525.5 million in 2023, which will power at a rate of 6% by the end of this decade, to touch USD 781.9 million by 2030. This is credited to the increasing occurrence of gastrointestinal cancers and other digestive complications and the rising elderly populace with gastrointestinal ailments including bowel ailments and diverticulosis.
Moreover, the rising preference of patients toward minimally invasive surgical p processes is powering the market, as these procedures are becoming favorite for treating gastrointestinal diseases, as opposed to traditional open surgical procedures, with regards to low risk of infections, shorter hospital stay, negligeable loss of blood, and fast recovery period.
On the basis of product, the biliary stent category led the industry with a share of 35%, and it will continue like this in thew future. This is because of the growing occurrence of obstructive jaundice, a common ailment that might result from benign or malignant disease.
Likewise, the biliary stent is used for the treatment for obstructions that occur in the biliary tree or to treat biliary leaks. Additionally, currently, minimally invasive endoscopic stent placement is the utmost effective treatment choice for serious benign bile duct constructions.
Furthermore, the increasing occurrence of bile duct cancer and primary biliary cholangitis, formerly called by the name of primary biliary cirrhosis, and chronic liver ailments, and the growing requirement for surgical procedures for treating these diseases are boosting the use of stents to decrease the burden of convention surgical processes.
The drug-eluting stent category had a larger revenue share in the gastrointestinal stent market in 2023, and it will also maintain its dominance in the future. This is attributable to its compensations, for example reduced target-vessel revascularization, the possibility to decrease the jeopardy of any other associated ailment, the competence to slow release of medication, and the progressions in these kinds of stents for example biodegradability.
Based on end user, the hospitals & clinics led the industry with a share, of 45%, in 2023, and it will also continue like this in the years to come as well. This is because in both developing and developed nations, hospitals manage the most of the surgical procedures, as these have resources required for such intricate procedures; and many percutaneous transhepatic cholangiography and endoscopic retrograde cholangiopancreatography processes are performed in the hospitals for more than a few disease indications.
It is because of the growing incidence of gastrointestinal cancers all over the world, the demand for gastrointestinal stent is on the rise. This trend will continue in the years to come as well.
SOURCE: P&S Intelligence
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