Non Vascular Stent Market Scope
Non-Vascular Stents are a type of stent that can be used for a variety of purposes, including esophageal, biliary, bronchial, colonic, and tracheal implantations. They're mostly used to carve a passage through the veins and arteries that transport lymph and blood. In addition, the human body has a network of ducts and capillaries that transfer fluids necessary for physiological functions throughout the body. The primary purpose of a non-vascular stent is to maintain the patency of stenotic arteries. They're also inserted into obstructed vessels to obtrude the narrowing vessel walls and enhance fluid flow through the artery and veins. Pulmonary stents are used to widen restricted airways and aid the breathing process in conditions such as chronic obstructive pulmonary disease, central airway obstruction, and asthma. Increasing technological and material breakthroughs are assisting in the development of, particularly engineered stents for a variety of indications. The market for non-vascular stents is growing due to the rising frequency of chronic disorders. Advances in technology, as well as a growing demand for minimally invasive operations, are fueling the industry's growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Becton, Dickinson and Company (United States), Boston Scientific Corporation (United States), CONMED Corporation (United States), Cook Medical (United States), ELLA - CS, s.r.o. (Czechia), Glaukos Corporation (United States), HOBBS MEDICAL INC (United States) and Medtronic (Ireland) |
CAGR | 4.8% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Non Vascular Stent market throughout the predicted period.
Becton, Dickinson and Company (United States), Boston Scientific Corporation (United States), CONMED Corporation (United States), Cook Medical (United States), ELLA - CS, s.r.o. (Czechia), Glaukos Corporation (United States), HOBBS MEDICAL INC (United States) and Medtronic (Ireland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Micro-Tech (Nanjing) Co. Ltd (China) and W. L. Gore & Associates Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Non Vascular Stent market by Type and Region with country level break-up.
On the basis of geography, the market of Non Vascular Stent has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Rest of Europe), MEA (Saudi Arabia, Turkey, Israel, United Arab Emirates, South Africa, Rest of Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In February 2023 , Olympus Corporation (Olympus), a global medtech company committed to making people’s lives healthier, safer and more fulfilling, has agreed to acquire Taewoong Medical Co., Ltd, (Taewoong Medical), a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents1 to strengthen its GI EndoTherapy product portfolio capabilities, and in turn, contributing to improving patient outcome through comprehensive solutions
October 2020- Medtronic Venous Stent Receives U.S. FDA Approval to Treat Venous Outflow Obstruction. and In 2020, Boston Scientific Corporation has introduced the TAXUS Element Paclitaxel-Eluting Coronary Stent System, which represents the company's third-generation drug-eluting stent (DES) technology. It is specifically designed for coronary stenting, providing both strength and flexibility.
Clinical studies conducted in the United States in support of a PMA approval must be conducted under the Investigational Device Exemptions (IDE) regulation, 21 CFR Part 812. FDA believes that the intravascular stents addressed by this guidance document are significant risk devices as defined in 21 CFR 812.3(m),1 and as such, are not exempt from the requirement to submit an investigational device exemption (IDE) application (21 CFR 812.2(b), 812.20(a)(1). When an IDE application is required, a sponsor must not begin a clinical trial in humans in the United States until FDA has approved the application (21 CFR 812.20(a)(2), 812.42).
Influencing Trend:
Technological Developments in Non-Vascular Stents
Market Growth Drivers:
Growing Prevalence of Gastrointestinal Cancer and Growing Geriatric Population & Prevalence of Chronic and Other Diseases
Challenges:
Complications Associated with Non-vascular Stents
Restraints:
Several Regulatory Factors
Opportunities:
Growing Research and Development Activities
Key Target Audience
Manufacturers of Non-Vascular Stent, Suppliers of Non-Vascular Stent, Wholesalers, Distributors and Retailers of Non-Vascular Stent, Healthcare Industry, Governmental Bodies and Others