Global Airway Stent Market Size, Share, and COVID-19 Impact Analysis and By Product (Tracheal Stents, Laryngeal Stents, and Bronchial stents), By Application (Hospitals, Ambulatory Surgery Centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Healthcare
Global Airway Stent Market Insights Forecasts to 2030
- The Airway Stent Market Size was valued at USD 8.8 Billion in 2021.
- The Market is Growing at a CAGR of 7.7% from 2021 to 2030
- The Worldwide Airway Stent Market is expected to reach USD 14.5 Billion by 2030
- Asia Pacific is expected to Grow the fastest during the forecast period
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The Global Airway Stent Market is expected to reach USD 14.5 Billion by 2030, at a CAGR of 7.7% during the forecast period 2021 to 2030.
An airway stent is an endobronchial prosthesis of various materials which preserves and supports the patency of the hollow tubular airway structure. An airway stent will help in preventing the extension of the tumour that may exist into the airway will help to heal or control the airway fistulus or even prevent the airway wall against failure. Stents are mainly made of several materials like silicone or metal. They come up with several shapes and sizes which may me permanent or temporary. Airway stenting can also be a blend of benign and malignant processes. Airway stent are used once the pulmonary physicians apply balloon dilatation, electrocautery, APC, or laser with an aim to increase the size of airway narrowing.
COVID 19 Impact of Airway Stent Market
The importance of taking care of infected people by helping them by assisting with management of infection proper medical supplies plays a significant role. Certain respiratory devices like life support machine, oxygen generators, and the monitors are widely used healthcare devices for clinical treatment. COVID 19 has resulted into the increasing demand for the medical supplies like gloves, sanitizers, masks, and protective eyeglasses. Due to the surge in the COVID 19 cases across the world, the requirement for medical supplies is also booming among healthcare professionals and normal people to take precautionary steps. Apart from this, key market players of such products had the chance to expand their presence by providing continuous supply of personal protective equipment in the global market.
Global Airway Stent Market Report Coverage
|Market Size in 2021:||USD 8.8 Billion|
|Forecast Period 2021-2030 CAGR:||7.7%|
|2030 Value Projection:||USD 14.5 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||100|
|Segments covered:||By Product, By Application, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Boston Scientific Corporation, Taewoong Medical Co., Ltd., E. Benson Hood Laboratories, Inc., Merit Medical Systems, Inc., Novatech SA, Boston Medical Products, Inc., Cook Group, ENDO-FLEX GmbH, Standard Sci. Tech Inc., EFER ENDOSCOPY|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Key Market Drivers
Increasing demand for MIS to propel the market growth
The global airway stent market is witnessing the significant growth owing to the rise in the demand for Minimally Invasive Surgeries (MIS) to treat persistent health conditions such as glaucoma, lung cancer, central airway obstruction, chronic obstructive pulmonary disease, asthma, and others. Patients who are suffering from lung cancer also suffering from breathing problems. As per the Asia Pacific Journal of Cancer Prevention, about 30% of the patients across the world who are suffering from lung cancer occur central airway obstruction (CAO) which leads to severe breathing complications. Thus, the usage of appropriation of airway stents have significantly increased and are expected to continue the same in the upcoming years. Apart from this, the increasing investment in research and development made by the private and public sector organizations to develop non vascular stents is also boosting the market growth. For instance, in January 2020, the US FDA has given an approval for 3D printed airway stent which is launched to fit the patient’s airway.
Technological advancement is augmenting the market growth
The advancement in the field of technology like the innovative stents development which has the ability to provide real time data of the respiratory tract which make use of advanced technologies such as data science and IoT are fuelling the growth of the airway stent market over the projected timeframe. In addition, the improvement of drug eluting and biodegradable airway stents will boost the market growth.
Complication is stend is restraining the market
Complications related to stent implementation as well as several alternative treatments present will hamper the growth of the market. Apart from this, the number of tobacco smokers have started decreasing which is limiting the market growth.
Bronchial stent segment is dominating the market with the largest market share over the forecast period.
On the basis of product, the global airway stent market is segmented into Tracheal Stents, Laryngeal Stents, and Bronchial stents. Among these, the bronchial stent segment is dominating the market with the largest market share over the forecast period due to the increasing use of bronchial stents in treating respiratory diseases. Bronchial stents are also used to treat hemoptysis after lung cancer and in the treatment of progressive dyspnea, hence there is increasing demand for bronchial stents. In addition, bronchial stents are also used to treat palliative relief of symptoms as well as minimal invasiveness.
Ambulatory Surgery Centers is dominating the market with the largest market share over the forecast period.
Based on the application, the global airway stent market is segmented into Hospitals and Ambulatory Surgery Centers. Among these, the ambulatory surgery centers is dominating the market with the largest market share over the forecast period. Ambulatory surgical centers are affordable as compared to the conventional hospitals which offer a shorter tenure of stay post surgery. Apart from this, an increment is various ambulatory surgical centers as well as an increasing in choice for minimally invasive surgeries are also boosting the market growth.
North America is dominating the market with the largest market share over the forecast period.
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The North American airway stent market is anticipated to hold the highest market share over the forecast period. The main reason behind the growth of the region is the presence of key market leaders, advanced healthcare infrastructure as well as the increasing awareness among the doctors have resulted in the increasing adoption of these stents in this region. Apart from this, the increasing cases of diseases, increasing healthcare expenses, and growing number of geriatric are driving the regional growth.
- In January 2020, the US Food and Drug Administration (FDA) has cleared the airway stents.
- In February 2022, Micro Tech Endoscopy has launched the first self expanding trancheobronchial nitinol y-stent. It has been designed to be compliant and flexible device which helps to treat malignant neoplasms occurred in tracheobronchial carina.
- In June 2022, Boston Scientific provided USD 230 million for M.I.Tech which is a Korea based gastrointestinal and airway stents maker.
List of Key Companies
- Boston Scientific Corporation
- Taewoong Medical Co., Ltd.
- E. Benson Hood Laboratories, Inc.
- Merit Medical Systems, Inc.
- Novatech SA
- Boston Medical Products, Inc.
- Cook Group
- ENDO-FLEX GmbH
- Standard Sci. Tech Inc.
- EFER ENDOSCOPY
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Airway Stent Market based on the below-mentioned segments:
Airway Stent Market, Product Analysis
- Tracheal Stents
- Laryngeal Stents
- Bronchial stents
Airway Stent Market, Application Analysis
- Ambulatory Surgery Centers
Airway Stent Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of Airway Stent Market?The global Airway Stent Market is expected to grow from USD 8.8 Billion in 2021 to USD 14.5 Billion by 2030, at a CAGR of 7.7% during the forecast period 2021-2030.
2. Who are the key market players of Airway Stent Market?Some of the key market players of Airway Stent Market are Boston Scientific Corporation, Taewoong Medical Co., Ltd., E. Benson Hood Laboratories, Inc., Merit Medical Systems, Inc., Novatech SA, Boston Medical Products, Inc., Cook Group, ENDO-FLEX GmbH, Standard Sci. Tech Inc., EFER ENDOSCOPY
3. Which segment hold the largest market share?Hospital segment hold the largest market share is going to continue its dominance.
4. Which region is dominating the Airway Stent Market?North America is dominating the Airway Stent Market with the highest market share.
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