What is the global market size of Gastrointestinal Stents Market?

Global Gastrointestinal Stents Market size was valued at USD 4.5 billion in 2021 and is poised to grow from USD 4.75 billion in 2022 to USD 7.29 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

Gastrointestinal Stents Market Size

Gastrointestinal Stents Market Insights

Gastrointestinal Stents Market size was valued at USD 5.01 Billion in 2023 and is poised to grow from USD 5.29 Billion in 2024 to USD 8.11 Billion by 2032, growing at a CAGR of 5.5% during the forecast period (2025-2032).

The global gastrointestinal stents market has been experiencing steady growth in recent years, driven by factors such as an increasing prevalence of gastrointestinal disorders and a rising aging population. Factors such as changing lifestyles, unhealthy dietary habits, and the prevalence of obesity have contributed to the rising number of gastrointestinal disorders, such as colorectal cancer, inflammatory bowel disease, and esophageal cancer. As a result, there is an increasing demand for gastrointestinal stents as they offer effective and less invasive treatment options, improving the quality of life for patients. With an increasing number of elderly individuals globally, there has been a rise in age-related gastrointestinal conditions, such as strictures and diverticulitis, leading to a higher demand for gastrointestinal stents. Elderly patients often prefer minimally invasive procedures, making gastrointestinal stents a preferred choice for treatment, contributing to the market's expansion. The introduction of self-expandable metal stents (SEMS) and biodegradable stents has revolutionized the market by providing better treatment outcomes and reducing the risk of complications. Additionally, the development of stents with anti-migration features has improved long-term efficacy and patient comfort.

US Gastrointestinal Stents Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

The global gastrointestinal stents market is highly competitive and characterized by the presence of several established and emerging players. These companies are engaged in developing and manufacturing gastrointestinal stents used in various medical applications. Gastrointestinal stents are widely utilized in the treatment of various gastrointestinal disorders and obstructions, offering a minimally invasive alternative to traditional surgical procedures. 'Boston Scientific Corporation (USA) ', 'BD (Becton, Dickinson and Company) (USA) ', 'Cook Medical (USA) ', 'Olympus Corporation (Japan) ', 'Merit Medical Systems (USA) ', 'CONMED Corporation (USA) ', 'ELLA-CS s.r.o. (Czech Republic) ', 'Hobbs Medical Inc. (USA) ', 'Taewoong Medical Co. Ltd. (South Korea) ', 'S&G Biotech Inc. (South Korea) ', 'Medtronic (Ireland) ', 'AbbVie (USA) ', 'Johnson & Johnson (USA) ', 'Takeda Pharmaceutical Company Limited (Japan) ', 'Pfizer Inc. (USA) ', 'Novartis AG (Switzerland) ', 'Bayer AG (Germany) ', 'AstraZeneca plc (UK) ', 'Roche Holding AG (Switzerland) ', 'Eli Lilly and Company (USA)'

Growing awareness among patients and healthcare providers about the benefits of gastrointestinal stents has resulted in early diagnosis and timely intervention. Furthermore, improved access to healthcare facilities in developing regions has increased the adoption of stenting procedures, propelling market expansion.

Increasing Preference for Biodegradable Stents: Biodegradable gastrointestinal stents offer several advantages over traditional metallic stents, making them an emerging and attractive option for medical practitioners and patients alike. These stents are typically made from materials that gradually dissolve over time, eliminating the need for an additional removal procedure, which is often required with permanent metallic stents. This feature reduces the risk of complications and offers a more convenient and patient-friendly treatment option. Furthermore, biodegradable stents can provide temporary support to the diseased area during the healing process, gradually losing their structural integrity as the tissue heals and regenerates.

North America emerges as the most dominant region in the global gastrointestinal stents market. The dominance of North America can be attributed to several factors. Firstly, the region has a well-established healthcare infrastructure and a high level of awareness about advanced medical treatments. Secondly, there is a substantial patient pool suffering from gastrointestinal disorders, including colorectal cancer, esophageal cancer, and benign strictures.