The global Gastrointestinal Stent market size was estimated at USD 480 million in 2021 and is expected to surpass around USD 1.2 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 7.6% during the forecast period 2022 to 2030.
Gastrointestinal (GI) stents are designed for palliative therapy for various diseases causing obstruction in the GI tract. GI stents have a major role in the recanalization of gastrointestinal (GI) tumors and postoperative leak sealing. Other potential applications of GI stents are drug-eluting devices, tissue modeling for benign conditions, and GI tract drainage/anastomosis. Gastrointestinal stent market growth can be attributed to the rising prevalence of GI cancers and other digestive diseases, and changing lifestyles, increasing healthcare expenditure on gastrointestinal procedures, and increasing preference for minimally invasive surgeries.
Report Scope of the Gastrointestinal Stent Market
Gastrointestinal stent Market Dynamics
Drivers: Rise in the incidence of gastrointestinal cancers, IBD, and other digestive diseases
Gastrointestinal cancer is one of the leading causes of death worldwide. In the past few years, there has been a steep rise in morbidity and mortality from chronic diseases such as esophageal cancer, colorectal cancer, and gastrointestinal-related critical disorders. According to the International Agency for Research on Cancer (IARC), in 2018, gastrointestinal cancers accounted for 26% of the global burden of cancer incidence and 35% of all cancer-related deaths.
According to the WHO, gastrointestinal cancers, such as colorectal cancer, were responsible for 935,000 deaths globally in 2020, and stomach cancer accounted for 769,000 deaths. Colorectal cancer was the third most common cancer worldwide with 1.93 million new cases diagnosed in 2020.
Restraints: High cost of the procedure and limited reimbursement in developing countries
In recent years, the cost of healthcare has increased significantly across the globe, and the prices of medical devices, including GI stent, has also increased. According to a study reported by PubMed.gov in May 2021, the average price of an endoscopic stenting procedure is about USD 43,798.06. Healthcare providers and payers in developing countries, such as India and Brazil, have low financial resources to invest in such a costly procedure.
Also, in most Asian countries, there is limited or no reimbursement for endoscopic stenting procedures from governments, which is one of the major factors for reluctance, especially in patients and physicians for opting for gastrointestinal stents. Such a high cost and the lack of reimbursement in developing countries, such as India, are expected to limit the adoption of gastrointestinal stents related procedures among the patients.
Opportunities: Development of biodegradable and drug-eluting stents
Biodegradable stents are made of biodegradable materials such as polyesters, polycarbonates, bacterial-derived polymers, and corrodible metals and are mostly used in coronary artery disease. Drug-eluting stents are capable of maintaining luminal patency not only from radial expansion but also from targeted drug delivery directly to tissue, reducing occlusion rates in lumen. Moreover, biodegradable stents help in maintaining the patency of the gastrointestinal tract for a predetermined duration as they gradually degrade and are eventually absorbed from the GI.
Challenges: Stringent regulatory environment
Developed and developing countries are increasingly focused on strengthening and supporting their domestic medical devices industries. However, the ongoing implementation of stringent regulations for imported medical devices that support the sales and the adoption of domestically manufactured medical devices (including GI stents) are expected to reduce the profit margin of the global medical devices manufacturers. Similarly, in Europe, guidelines presented by the European Society of Gastrointestinal Endoscopy (ESGE) are restraining the adoption of GI stents in many cases. For instance, the ESGE does not recommend the use of biodegradable stents over SEMSs in the treatment of benign esophageal strictures. The ESGE does not recommend permanent stent placement for refractory benign esophageal stricture; stents should usually be removed at a maximum of 3 months following insertion.
The Esophageal Stents segment is estimated to grow at the highest CAGR in the gastrointestinal stent, by products, in 2021
Based on product, the gastrointestinal stent market is segmented into biliary stents, duodenal stents, colonic stents, pancreatic stents, and esophageal stents. The biliary stents segment accounted for the largest share in 2021. The Esophageal Stents segment is estimated to grow at the highest CAGR during the forecast period. The increasing prevalence of bile duct cancer and chronic liver disease is one of the prominent factors responsible for the growth of the biliary stents segment. Moreover, The increasing incidence of biliary diseases and the growth in the number of surgical procedures for the treatment of biliary diseases are the other major factors that are expected to support the growth of this market segment during the forecast period.
The self-expanding metal stent segment will dominate the gastrointestinal stent market, by material during the forecast period
Based on material, the gastrointestinal stent market is segmented into self-expanding metal stents and plastic stents. Self-expanding metal stents are further sub-segmented into nitinol, stainless steel, and other metal stents. Factors such as the increased demand for Self-expanding metal stents due to advantages offered by these stents such as ease of insertion, a lower possibility of dislodgment or migration, longer patency. Metal stents are usually made of stainless steel, nitinol, cobalt-chromium, and platinum-chromium with or without coating. Self-expanding metal stents are used for the treatment of benign gastrointestinal leaks and perforations. These stents act as a support to keep the gastrointestinal tract open and provide easy unobstructed drainage of food and water.
The Gastrointestinal Cancers segment to register the fastest growth in the gastrointestinal stent market, by application, during the forecast period
Based on application, the gastrointestinal stent market is segmented into biliary diseases, irritable bowel syndrome, and gastrointestinal cancers. The gastrointestinal cancers segment is further categorized into colorectal cancer, stomach cancer, esophageal cancer, and pancreatic cancer. The biliary diseases segment accounted for the largest share in 2020. The gastrointestinal cancers segment is projected to have the highest CAGR during the forecast period. The growth of this segment is attributed to the increased prevalence and incidences of gastrointestinal cancers. For instance, According to a report by the American Cancer Society, Colorectal Cancer Facts & Figures 2020-2022, in 2021, there were an estimated 104,610 new cases of colon cancer and 43,340 cases of rectal cancer diagnosed in the US.
Hospitals and clinics are the largest end users of gastrointestinal stent
Based on end users, the gastrointestinal stent market is segmented into hospitals and clinics and ambulatory surgical centers. The hospitals and clinics segment accounted for the largest share of in 2021. The large share of this segment can be attributed to the large number of endoscopic retrograde cholangio-pancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC) procedures performed in hospitals for different disease indications, favorable reimbursement scenarios, and increased government initiatives to provide quality treatment for gastrointestinal diseases.
Asia Pacific market to witness the highest growth during the forecast period
The gastrointestinal stent is divided into five regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. These regions are further analyzed at the country levels. North America held the largest share of the gastrointestinal stent market in 2020, followed by Europe and the Asia Pacific. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by the rise in incidences of gastrointestinal disorders, growth in aging population, rapidly developing healthcare industry in China and India, rising life expectancy, rising per capita income, increasing investments in the region by key market players.
Some of the prominent players in the Gastrointestinal Stent Market include: Boston Scientific Corporation (US), Cook Group (US), Medtronic plc. (Ireland), ELLA-CS, s.r.o. (Czech Republic), Becton, Dickinson and Company (US), Merit Medical Systems (US), CONMED Corporation (US), Cantel Medical (US), Olympus Corporation (Japan), Taewoong Medical (South Korea), Micro-Tech(Nanjing) Co., Ltd. (China), Endo-Flex GmbH (Germany), MI-Tech (South Korea), Hobbs Medical Inc. (US), QualiMed (Germany), UK Medical (UK), CITEC (China), Medorah Meditek Pvt. Ltd. (India), BCM Corporation (South Korea), and Leufen Medical GmbH (Germany).
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Gastrointestinal Stent market
By Products
- Biliary stents
- Duodenal stents
- Colonic stents
- Pancreatic stents
- Esophageal stents
By Material
- Self-expanding metal stents
- Nitinol
- Stainless steel
- Other metal stents
- Plastic stents
By Application
- Biliary diseases
- Irritable bowel syndrome
- Gastrointestinal cancers
- Colorectal cancer
- Stomach cancer
- Esophageal cancer
- Pancreatic cancer
By End Users
- Hospitals and Clinics
- Ambulatory Surgical Centers
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Points Covered in Gastrointestinal Stent Market Study:
- Growth of Gastrointestinal Stent in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Gastrointestinal Stent and How to Navigate
- Key Product Innovations and Regulatory Climate
- Gastrointestinal Stent Consumption Analysis
- Gastrointestinal Stent Production Analysis
- Gastrointestinal Stent and Management
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