Global Lung Stent Market, By Type (Tracheobronchial Stents, Laryngeal Stents), Material (Metal Stents, Silicone Stents, Hybrid Stents), Product (Self-Expandable Stents, Non-Expandable Stents), End-User (Hospitals, Ambulatory Surgery Centers) – Industry Trends and Forecast to 2030.
Lung Stent Market Analysis and Size
Minimally invasive surgical procedures is widely gaining attraction especially in the developing economies. And using stents facilitates the success of a minimally invasive surgical procedure. The stents are manufactured using an array of materials and are scientifically proven to be safe during a surgical procedure.
Data Bridge Market Research analyzes that the global lung stent market which was USD 0.98 billion in 2022, would rocket up to USD 6.16 billion by 2030, and is expected to undergo a CAGR of 6.0% during the forecast period from 2023 to 2030. This indicates the market value. “Tracheobronchial Stents” dominates the type segment of the global lung stent market owing to the increasing prevalence of lung diseases. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Lung Stent Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Tracheobronchial Stents, Laryngeal Stents), Material (Metal Stents, Silicone Stents, Hybrid Stents), Product (Self-Expandable Stents, Non-Expandable Stents), End-User (Hospitals, Ambulatory Surgery Centers)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and rest of South America
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Market Players Covered
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Thermo Fisher Scientific Inc. (U.S.), Novartis AG (Switzerland), Abbott (U.S.), Amgen Inc. (U.S.), Johnson & Johnson Services, Inc. (U.S.), GlaxoSmithKline plc (U.K.), Bayer AG (Germany), BD (U.S.), Boston Scientific Corporation (U.S.), Taewoong Medical Co., Ltd. (South Korea), Micro-Tech (Nanjing) Co., Ltd. (China), Novatech SA (France), E. Benson Hood Laboratories, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), Cook (U.S.), EFER ENDOSCOPY (France), ENDO-FLEX GmbH (Germany), Standard Sci. Tech Inc. (South Korea), and Stening SRL (Argentina) among other
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Market Opportunities
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Market Definition
From the name itself, it is clear that lung stent are the medical products that are used to open wide the clogged or blocked blood vessels during a surgical procedure. Stents are dissolvable in nature and its deployment doesn’t have any side effect on the body. Stents are important for the surgeons as they facilitate a greater and clearer view of the surgical site.
Global Lung Stent Market Dynamics
Drivers
- Rising Prevalence of Cancer
Growing incidence rate of cancer and respiratory disorders globally is one of the major factors fostering the growth of the market. Lung cancer is the leading cause of deaths worldwide. More than 1 million cases per year are witnessed in India and this condition may prevail for lifetime if not treated properly
- Research and Development Proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the advancements in medical technologies and devices are also bolstering the market growth rate
Opportunity
- Growing Investment for Healthcare Facilities
Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
Furthermore, upsurge in the public-private funding for target research activities, increasing consumption of smoking products, growing air pollution level and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period from 2022 to 2029. In addition, unhealthy lifestyle of individuals, rising internet penetration rate, rising geriatric population base, increasing need of 3D printing of lung stents along with rising development of biodegradable and drug eluting lung stent product development and commercialization and increasing per capita expenditure on health care will further expand the market's growth rate in the future
Restraints/Challenges
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, uneven distribution of medical services, dearth of skilled medical professionals, and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, emergence of alternative technologies, rising complications associated with the stents, limited insurance coverage and regulatory compliance, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period.
This lung stent market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, and technological innovations in the market. To gain more info on the lung stent market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- In January 2020, the U.S. FDA approved 3D printed airway stent which is made to fit the patient’s airway. This study was conducted by Cleveland Clinic and it is estimated that around 30,000 stents will be implanted by the end of 2020 in the U.S. alone. This shows the potential demand for lung stents in the near future.
Global Lung Stent Market Scope
The global lung stent market is segmented on the basis of product, type, material and end-user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Tracheobronchial Stents
- Laryngeal Stents
Material
- Metal Stents
- Silicone Stents
- Hybrid Stents
Product
- Self-Expandable Stents
- Non-Expandable Stents
End-User
- Hospital
- Ambulatory Surgery Centers
Global Lung Stent Market Regional Analysis/Insights
The global lung stent market is analyzed and market size insights and trends are provided by country, product, type, material and end-user as referenced above.
The countries covered in the global lung stent market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
North America dominates the global lung stent market because of the increasing healthcare initiatives, the strong presence of major players in the market, increasing cases of lung diseases and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period from 2023 to 2030 due to the increase in government initiatives to promote awareness, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends, Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The global lung stent market also provides you with detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the global lung stent market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the global lung stent market. The data is available for the historic period from 2010 to 2020.
Competitive Landscape and Global Lung Stent Market Share Analysis
The global lung stent market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the company’s focus related to the market.
Some of the major players operating in the global lung stent market are
- Thermo Fisher Scientific Inc. (U.S.)
- Novartis AG (Switzerland)
- Abbott (U.S.)
- Amgen Inc. (U.S.)
- Johnson & Johnson Services, Inc. (U.S.)
- GlaxoSmithKline plc (U.K.)
- Bayer AG (Germany)
- BD (U.S.)
- Boston Scientific Corporation (U.S.)
- Taewoong Medical Co., Ltd. (South Korea)
- Micro-Tech (Nanjing) Co., Ltd. (China)
- Novatech SA (France)
- E. Benson Hood Laboratories, Inc. (U.S.)
- Merit Medical Systems, Inc. (U.S.)
- Cook (U.S.)
- EFER ENDOSCOPY (France)
- ENDO-FLEX GmbH (Germany)
- Standard Sci. Tech Inc. (South Korea)
- Stening SRL (Argentina)
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