The global Gastrointestinal Stent Market in terms of revenue was estimated to be worth $457 million in 2021 and is poised to reach $600 million by 2026, growing at a CAGR of 5.6% from 2021 to 2026. 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) tumours and postoperative leak sealing. Other potential applications of GI stents are drug-eluting devices, tissue modelling for benign conditions, and GI tract drainage or anastomosis. Growth of this market can be attributed to the rising prevalence of GI cancers and other digestive diseases, changing lifestyles, increasing healthcare expenditure on gastrointestinal procedures, and an increasing preference for minimally invasive surgeries.
Key Players:
The gastrointestinal stent market is dominated by a few globally established players such as Boston Scientific Corporation (US), Cook Group (US), Micro-Tech (Nanjing) Co., Ltd. (China), Taewoong Medical (South Korea), and Olympus Corporation (Japan).
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The study categorizes the gastrointestinal stent market into following segments and sub-segments:
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
The Esophageal Stents segment is estimated to grow at the highest CAGR in the gastrointestinal stent, by products, in 2020
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 2020. 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 global 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 global 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 2020, there were an estimated 104,610 new cases of colon cancer and 43,340 cases of rectal cancer diagnosed in the US.
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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 2020. 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.
