Gastrointestinal Stents Market –
Market Dynamics
Growth of the global Gastrointestinal
Stents Market is expected to be fuelled by increasing product launches with
novel technology by key players in the market. For instance, in 2013, Cook
Medical Inc. received U.S. Food and Drug Administration (FDA) for biliary
stent, adding to the line of controlled-release gastrointestinal tract.
Moreover, Evolution biliary stent incorporates patency design, to prevent
migration of stent after its insertion. Furthermore, in 2012, Boston Scientific
Corporation launched WallFlex, biliary Transhepatic Stent System for the
treatment of benign biliary strictures. Companies are focusing on manufacturing
stents with biodegradable material to eliminate stent removal procedures.
However, implantable products are subjected to stringent regulations, and this
is expected to hinder growth of the gastrointestinal stent market. Moreover,
complication associated with gastrointestinal stent implantation is also
expected to be major factor leading to low adoption of these device.
Stents are tubular device used
for insertion in lumen such as esophagus, colon or blood vessel. Stents are
safe and effective alternative to surgery or repetitive endoscopic procedures.
Gastrointestinal stents are used to open bile ducts, esophagus, small bowel,
and colon when blocked by large, cancerous tissue growth. Stents can be
removable or permanently implantable based on the material used. The role of
stenting is decreasing patients’ digestive tract obstruction. Moreover, advancement
in technology has led to improvement in stent performance and reduced
stent-induced complications to improve quality of life and this is expected to
propel the gastrointestinal stent market growth.
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Increasing demand for minimally
invasive procedures is expected to be a major factor driving growth of
gastrointestinal stents market size. Gastrointestinal stenting is considered as
minimally invasive therapy and is increasingly gaining popularity, owing to its
advantages such as low risk of infection, less recovery time as compared to
conventional open surgery procedures, and reduced hospital stay.
Increasing prevalence of
urological and gastrointestinal disorders are propelling demand of
gastrointestinal stents during the forecast period. According to Center for
Disease Control and Prevention (CDC), in 2015, number of adults diagnosed in
U.S. with ulcer in digestive tract are 14.7 million, comprising 6% of the total
adult population. Moreover, according to American Cancer Society’s estimation
for year 2018 suggests that 9,220 new cases of colon cancer are expected to be
diagnosed in the U.S. Moreover, increasing number of patients with
gastrointestinal tumors is also adding to patient pool that can be subjected to
gastrointestinal stent implantation.
Gastrointestinal Stents Market -
Regional Analysis
Regional segmentation of
Gastrointestinal Stents Market by Coherent Market Insights includes North
America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North
America held the dominant position in the gastrointestinal stents market in 2017
and is expected to retain its dominance over the forecast period. This is owing
to increasing number of intestinal cancer cases and favorable reimbursement
policies in the region. For instance, in 2017, American Cancer Society
estimated 4,000 to 6,000 cases each year in the U.S. for gastrointestinal
stromal tumors.
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Gastrointestinal Stents Market –
Competitive Analysis
Major market players operating in
the gastrointestinal stents market are Boston Scientific Corporation, Medtronic
plc, Olympus Medical System, Cook Medical, Ella-CS, Endo-Flex, Diagmed
Healthcare, Micro-Tech, W. L. Gore & Associates and Taewoong Medical Co.,
Ltd.
Market players are focusing on
inorganic strategies such as mergers, acquisitions, or collaborations to
increase their foothold in the market. For instance, in May 2018, Olympus— a
company that designs and delivers innovative solutions for medical and surgical
procedures—entered into an agreement with M.I. Tech, a company that designs
stents and other devices. Under this agreement, HANAROSTENT, biliary and
esophagus stents rolled in the EndoTherapy product portfolio of the company.
The displacement of the stents is a major issue faced after the stent is been
placed. Targeting these issues, in 2017, W. L. Gore & Associates, the manufacturer
of Gore Viabil short wire biliary endoprosthesis stent, launched anti-migration
assurance program, under which device will be replaced within a period of one
year if it migrates. Furthermore, in 2016, Boston Scientific launched AXIOS
stent and Electrocautery Enhanced delivery system, endoscopic system used for
minimally invasive treatment of pancreatitis, obtained as a part of acquisition
of Xlumena. In 2015, Cardinal Health announced acquisition of Cordis, business
of Johnson & Johnson, for US$ 1.944 Bn.
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