Global Biliary Stents Market Size, Share, Growth, Industry Trends and Forecast 2020-2030
Global Biliary Stents market accounted 157.9 USD billion in 2020 and is expected to reach 257.2 USD billion by 2030 growing with a CAGR of 5% during the forecast period.A biliary stent is a small plastic or metal tube that is shaped like a blood vessel used to open a passage between two hollow spaces within the body. It is an implantable device that constitutes materials such as nitinol, silicone, and cobalt-chromium alloys. The stent is designed in such a way that it maintains the patency of stenotic vessels. The stent is used to create a pathway in the blocked bile duct to carry bodily fluids. It also enables the transfer of air in obstructed natural circulatory pathways and to treat palliative-stage cancers, strictures, and other medical conditions. Biliary stents are small mesh-like tubes, and do not have any coating or covering. Stents are usually inserted into the liver to treat hepatic blockage and obstructive hepatic diseases, like cholecystitis, jaundice, hepato-biliary diseases, and cholangitis. Biliary stents are used in numerous applications such as malignant biliary obstruction, biliary strictures, and bile duct leakages.
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Market Dynamics and Factors:
The major factors driving the global biliary stents market are the growing prevalence of biliary diseases; increase in demand for minimally invasive (MI) techniques; technological advancements; rising geriatric population; and increasing awareness among the population. The growing preference for minimally invasive procedures is driving the growth prospects for the biliary stents market across the globe. The market is experiencing a surge in demand for MI procedures for the treatment of biliary diseases as because these procedures deliver superior results with minimal complications and are been increasingly used to manage disorders like gallbladder-related diseases, pancreas-related diseases, and liver-related diseases. For instance, stenosis is performed using non-vascular stents, which is the most commonly remedied condition through an MI procedure. Also, biliary stent intervention is an MI procedure that does not require open surgery but uses medical imaging technology to guide instruments inside the body. Additionally, MI procedures offer faster recovery, less pain, fewer post-surgery infections, reduced hospital stays, reduced incision marks, bleeding control, minimal complications, and heightened accuracy, and provides benefits such as lesser cost and reduced hospital stay. Increasing prevalence of biliary diseases is anticipated to propel the global biliary stents market. Biliary tract disease is one of the most common causes of biliary obstruction. For instance, as per the British Society of Gastroenterology, more than 15,000 individuals in the UK live with consequences of chronic biliary inflammation. The American Cancer Society has estimated that approximately 8,000 people in the US are diagnosed with bile duct cancer every year. This includes both intrahepatic (inside the liver) and extra hepatic (outside the liver) bile duct cancers. Hence, the rising number of biliary diseases will fuel the biliary stents market growth in the coming years. However, postoperative complications and stringent government regulations for approval are expected to restrain market growth of the biliary stents market.
Market Segmentation :
Global Biliary Stents Market – By Product
Biliary Metal Stents
Biliary Plastic Stents
Global Biliary Stents Market – By End User
Hospitals
Ambulatory Surgical Centres
Others
Global Biliary Stents Market – By Application
Gall Stones
Biliary Leaks
Tumour
Others
Global Biliary Stents Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is expected to dominate the global biliary stents market in terms of market share during the forecast period. The increasing prevalence of gastrointestinal disorders, incidences of abdominal pain, and awareness about biliary and pancreatic disorders such as the formation of gallstones, cholecystolithiasis, and pancreatic cancer are the major factors responsible for the market dominance of the region. For instance, according to the World Gastroenterology Organization, about 15% of the U.S. population suffers from gallstones. The National Health and Nutrition Examination Survey showed higher prevalence of gallstones in Mexicans and Americans. The Asia Pacific market is anticipated to witness significant market growth during the forecast period. Growing geriatric population, changing lifestyles and food habits attributing to greater risk of biliary diseases, and the rising adoption of innovative technologies are the major factors leading to the market growth in the APAC region.
Competitive Scenario:
The key players operating in the global biliary stents market are –
Boston Scientific Corporation, GE Healthcare, Medtronic Plc, Stryker Corporation, Cook Group, Abbot Vascular, Blue Belt Technologies, Brainlab, Changzhou Health Microport Medical Devices.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Biliary Stents industry, although key threats, opportunities and disruptive technologies that could shape the Global Biliary Stents Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Biliary Stents Market most.
The data analysis present in the Global Biliary Stents Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Biliary Stents Market business.
The 2021 Annual Global Biliary Stents Market offers:
100+ charts exploring and analysing the Global Biliary Stents Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Biliary Stents Market type
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