Lung Stent Market worth over $348mn by 2026

Lung Stent Market size is set to surpass USD 348 million by 2026, according to a new research report by Global Market Insights Inc.
 

Rising prevalence of lung cancer has led to an increased utilization of lung stent, stimulating the market growth. Patients suffering from lung cancer are prone to suffer with breathing conditions. According to the Asian Pacific Journal of Cancer Prevention, around 30% of the patients suffering from lung cancer develop central airway obstruction (CAO) that results in severe breathing difficulty. Malignant airway lesions causing CAO are inoperable due to advanced disease stage and require multimodality palliation, including stent placement. Therefore, such patients require bronchoscopy procedure for improved breathing for expansion of the airway. Lung stents also minimize extrinsic compression from tumors and heal airway fistula. As a result, the adoption and utilization of airway stents has increased significantly and is expected to follow similar trend in the coming years.
 

Increasing incidences of chronic obstructive pulmonary disease (COPD) will uplift the lung stent market demand. Chronic obstructive pulmonary disease causes obstructed airflow in the lungs and is one of the leading causes of death worldwide. Therefore, small stents are placed through the airwalls to allow easy breathing.  Moreover, emphysema associated with COPD is treated with airway bypass stenting that reduces hyperinflation and gas trapping by creating extra-anatomical airways.
 

Rise in demand for bronchial stents will boost the market growth

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Bronchial lung stent market is anticipated to expand at a CAGR of 14.9% in the coming years owing to high adoption of bronchial stents to treat respiratory disorders. Bronchial stents are used to treat respiratory disorders associated with bronchogenic carcinoma such as small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). Bronchial stents are also largely used in treatment of hemoptysis resulting from lung cancer and in treatment of progressive dyspnea therefore, there is an increased demand for bronchial stents. Moreover, bronchial stents are preferred due to provisions such as palliative relief of symptoms, minimal invasiveness, and reduced chances of risks in surgeries.
 

Growing preference for balloon-expandable lung stents

Balloon-expandable lung stent market valued at over USD 29 million in 2019 on account of the increased flexibility and greater radial strength. Balloon-expandable stents are majorly used in the treatment of bronchial stenosis and bronchomalacia. These stents are proven to be successful as an endobronchial prosthesis in children. Balloon-expandable stents are further used to re-establish airway patency in patients with lung transplantation.
 

Browse key industry insights spread across 250 pages with 320 market data tables & 20 figures & charts from the report, “Lung Stents Market By Product (Tracheal Stents, Bronchial Stents, Laryngeal Stents), By Device Type (Self-expandable, Balloon expandable), By Material (Metal {Stainless, Nitinol}, Silicone, Hybrid), By Patient (Adult, Pediatric), By End-Use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/lung-stent-market
 

Increasing demand for metal stents will fuel the market revenue

Metal lung stent market size in 2019 was more than USD 54 million due to improved design, ease of insertion, thinner walls, lower risk of migration or dislodgement and ability to adapt the twisted airway. Metal stents are also technically feasible, effective, and safe. In addition, metal stents are inserted with topical anesthesia and moderate sedation via flexible bronchoscopy. These stents enlarge airway lumen due to appropriate ratio of internal-to-external diameter. Metal stents are largely used for the treatment of malignant tracheal obstruction and benign airway stenosis.
 

Rise in pediatric patients suffering from respiratory disorders

Pediatric patient segment in the lung stent market is poised to witness around 14.5% growth rate through 2026. Airway obstruction due to disorders such as congenital tracheal stenosis (CTS) and tracheobronchomalacia in pediatric patients can lead to fatality and is treated using airway stents. Therefore, the demand for lung stents has increased with higher incidences of infants and children suffering from chronic respiratory disorders. Moreover, insertion of airway stents is preferred in the treatment of infants and children suffering with cystic fibrosis.
 

Growing preference for ambulatory surgical centers will drive the lung stent market growth

Ambulatory surgical centers segment revenue crossed USD 31 million in 2019. Ambulatory surgical centers are more cost-effective than traditional hospitals and provide shorter duration of stay post-surgery. Moreover, increase in number of ambulatory surgical centers and rise in preference of minimally invasive surgeries are additional factors augmenting the demand for lung stent. The ongoing pandemic has resulted in an increase in number of patients suffering from respiratory disorders and hospitals can no longer accommodate more patients.
 

Increasing number of people suffering from chronic lung disease in China

China dominated the Asia Pacific lung stent market with a valuation of over USD 11 million in 2019. The higher market size is attributed to the growing geriatric population, developing healthcare industry in China, and growing incidences of chronic diseases. Moreover, presence of large scale and low-cost manufacturers engaged in manufacturing of high-quality medical devices is contributing to the market growth in the country. Increasing investment by major market players, expansion of private-sector hospitals and reach of ambulatory surgical centers to rural areas along with availability of low-cost labor has improved the demand and supply of these stents in the country.
 

Companies are focusing on strategies and launch of innovative products to expand customer base

Some of the major players operating in the lung stent market are Boston Scientific Corporation, Hood laboratories, Micro-Tech (Nanjing) Co., Ltd., Novatech SA, Boston Medical Products, Inc., Merit Medical Systems, Inc., Cook Group, EFER ENDSCOPY and Stening SRL.
 

These industry players are proposing strategic acquisitions, mergers, collaborations with innovative product launches in order to generate significant revenue in the market and increase their geographical presence. The investment by these players in recent years has created opportunities of global expansion for the market. For instance, in January 2020, Cook Group announced collaboration with Bentley in clinical trials involving Cook Group’s bench stent grafts and Bentley’s covered stents. The strategic move will assist the company in enhancing their product portfolio and expand their customer base.