Gastrointestinal Stents Market Forecasts to 2030 - Global Analysis By Product, Type, Material, Application, End User and By Geography

According to Stratistics MRC, the Global Gastrointestinal Stents Market is accounted for $529.71 million in 2023 and is expected to reach $884.56 million by 2030 growing at a CAGR of 7.6% during the forecast period. Gastrointestinal stents are medical devices used to treat narrowed or blocked passages within the digestive system, such as the esophagus, stomach, or intestines. These tubular structures are inserted endoscopically to provide support, relieve obstruction, and facilitate the flow of fluids or food. Gastrointestinal stents play a crucial role in managing conditions like strictures, tumours, or obstructions, offering a minimally invasive alternative to surgery.

According to published report of 2022 in current oncology research article of MDPI publisher, reported upper gastrointestinal cancer incidences in China were 14,934,040 cases of male and 6,262,431 cases of female with growth rate 181.44% in between 1990 to 2019.

Market Dynamics:

Driver:

Increasing prevalence of gastrointestinal disorders

The escalating prevalence of gastrointestinal disorders, such as colorectal cancer, inflammatory bowel disease, and gastrointestinal strictures necessitates effective therapeutic interventions, where gastrointestinal stents play a crucial role in providing relief and improving patient outcomes. These stents facilitate the restoration of normal digestive function, alleviate symptoms, and offer minimally invasive solutions. The growing awareness of these disorders, coupled with advancements in stent technologies, further propels market growth as healthcare professionals increasingly opt for these devices to address the surging demand for gastrointestinal interventions.

Restraint:

Lack of awareness

Lack of awareness about gastrointestinal issues and available treatment options may lead to delayed diagnosis and treatment. It can hinder patient education and shared decision-making between healthcare providers and patients, limiting the choices available for managing gastrointestinal conditions. From a market perspective, manufacturers and suppliers may face challenges in promoting their products and expanding their market share if there is insufficient awareness among both healthcare professionals and the general public.

Opportunity:

Rising customized & patient-specific solutions

Tailoring gastrointestinal stents to individual patient needs enhances treatment efficacy and minimizes potential complications. This trend not only addresses unique anatomical variations but also improves overall patient outcomes, driving innovation and growth within the market. As demand for personalized medical interventions continues to rise, the integration of customized solutions in the gastrointestinal stents sector positions itself as a key avenue for advancement and market expansion.

Threat:

Availability of alternative treatment options

Patients and healthcare providers may opt for non-stent interventions, such as medications or minimally invasive procedures, reducing the demand for gastrointestinal stents. This shift in preferences could impact the market share and revenue potential for traditional stent manufacturers, emphasizing the need for innovation, improved efficacy, and strategic differentiation to maintain a competitive edge in the evolving landscape of gastrointestinal treatments.

COVID-19 Impact

The COVID-19 pandemic has impacted the Gastrointestinal Stents Market by causing disruptions in the supply chain, delaying elective procedures, and diverting healthcare resources to manage the crisis. These factors have led to a temporary decline in the demand for gastrointestinal stents. However, as healthcare systems adapt to the new normal and elective procedures resume, the market has recovered. The increased focus on endoscopic procedures and advancements in stent technology also drive future growth in the gastrointestinal stents market.

The self-expanding metal stents segment is expected to be the largest during the forecast period

The self-expanding metal stents segment is estimated to have a lucrative growth. Self-expanding metal stents (SEMS) play a pivotal role in Gastrointestinal Stents, offering a minimally invasive solution for various conditions. Composed of metal alloys, these stents automatically expand upon deployment, providing structural support to obstructed or narrowed gastrointestinal passages. SEMS effectively alleviate symptoms, such as blockages or strictures, enabling improved digestive function. Their versatility and adaptability make them a preferred choice for treating conditions like esophageal, colorectal, and biliary obstructions.

The gastrointestinal cancers segment is expected to have the highest CAGR during the forecast period

The gastrointestinal cancers segment is anticipated to witness the highest CAGR growth during the forecast period. Gastrointestinal stents play a crucial role in managing gastrointestinal cancers by alleviating symptoms and improving the quality of life for patients. Deployed through endoscopic procedures, these stents provide a minimally invasive solution, restoring proper functioning and enabling the passage of food and fluids. Gastrointestinal stents serve as palliative care, enhancing patient comfort and facilitating treatment plans.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising gastrointestinal disorders and an aging population. Countries like China, Japan, and India are prominent contributors to the market's growth. It is home for major key players such as Boston, Medtronic and Abbott Laboratories. The demand for minimally invasive procedures and a growing prevalence of diseases such as colorectal cancer are fueling the adoption of gastrointestinal stents in the region. The market is poised for continued expansion as healthcare infrastructure improves and the need for effective gastrointestinal interventions rises.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the increasing prevalence of obstructive gastrointestinal diseases, favourable reimbursement policies and aging population. North America is one of the most developed medical device industries market. Further, the booming medical tourism industry in the region owing to availability of the advanced medical treatments at a cheaper cost is anticipated to expand the patient base in the region.

Key players in the market:

Some of the key players profiled in the Gastrointestinal Stents Market include Boston Scientific Corporation, Hobbs Medical Inc., General Electric Company, Cantel Medical Corporation, Olympus Corporation, Merit Medical Systems, Qualimed, Medtronic, Conmed Corporation, Terumo Corporation, Johnson & Johnson, The 3M Company, Smith & Nephew, Diagmed Healthcare, Medline Industries, Baxter, B. Braun Melsungen AG and Danaher Corporation.

Key Developments:

In November 2020, Boston Scientific Corporation (US) has received 510(k) approval from the U.S. Food and Drug Administration (FDA) and CE Mark approval to market its WallFlex Fully Covered Esophageal Stent for the treatment of malignant esophageal strictures caused by esophageal cancer.

In October 2020, Olympus Corporation (Japan) launched HANAROSTENT Esophagus TTS Self-expanding Metal Stents (SEMS) made by MI-Tech and distributed exclusively through Olympus in the US.

Products Covered:

• Duodenal Stent
• Biliary Stent
• Pancreatic Stent
• Colonic Stent
• Esophageal Stent

Types Covered:

• Anti-Migratory Stents
• Radioactive Stents
• Drug-Eluting Stents
• Anti-Reflux Stents
• Shape-Modified Stents
• Other Types

Materials Covered:

• Self-Expanding Metal Stents
• Plastic Stents
• Other Materials

Applications Covered:

• Stomach Cancer
• Irritable Bowel Syndrome
• Pancreatic Cancer
• Colorectal Cancer
• Gastrointestinal Cancers
• Esophageal Cancer
• Biliary Diseases
• Other Applications

End Users Covered:

• Ambulatory Surgical Centers
• Hospitals
• Specialty Clinics

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances