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Lung Stent Market Size - By Product (Tracheal Stents, Bronchial Stents, Laryngeal Stents), By Device Type (Self-expandable, Balloon-expandable), By Material (Metal, {Stainless, Nitinol}, Silicone, Hybrid), By Patient (Adult, Pediatric), By End-Use & Forecast, 2023 – 2032


Published on: 2024-08-01 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Lung Stent Market Size - By Product (Tracheal Stents, Bronchial Stents, Laryngeal Stents), By Device Type (Self-expandable, Balloon-expandable), By Material (Metal, {Stainless, Nitinol}, Silicone, Hybrid), By Patient (Adult, Pediatric), By End-Use & Forecast, 2023 – 2032

Lung Stent Market Size

Lung Stent Market size was valued at over USD 165 million in 2022 and is poised to record over 11.5% CAGR from 2023 to 2032, owing to the high prevalence of COPD (chronic obstructive pulmonary disease) and post-tuberculosis stenosis globally.
 

Lung Stent Market

COPD, a prominent cause of morbidity and death, frequently results in significant airway blockage. For instance, a 2022 report from CDC estimates that more than 150,000 Americans die from COPD every year. It has also been reported that over 90% of COPD fatalities occurred in middle- and low-income countries, and there is currently no cure for the condition. Lung stents offer less invasive remedies by preserving airway patency and enhancing airflow, which reduces symptoms and enhances the quality of life for patients. As a result, the growing patient base will drive up the product demand, further contributing to the market expansion.
 

However, the industry expansion may be hampered to some extent by the influx of stringent compliances and series of time-consuming tests that are required to get authorization for selling the lung stents. Additionally, gadgets categorized as Class II devices pose minimal risk to the general public's health and moderate risks to the individual users. Therefore, during the analysis timeframe, these factors may have an impact on the market progression.

 

COVID-19 Impact

The lung stent market revenue in 2020 was adversely affected by the COVID-19 outbreak. Due to the increase in the number of COVID-19 patients and the necessity to prioritize resources for pandemic management, several elective and non-urgent treatments, including pulmonary stent implantation, were delayed or postponed. The pandemic also hampered the global supply chains as it affected the manufacturing and delivery of medical equipment, such as lung stents. Nevertheless, the industry is experiencing a significant uptick in recent years driven by the necessity to serve the impacted populace.

 

Lung Stent Market Trends

The increasing prevalence of respiratory disorders along with the rising rate of surgical intervention is propelling the demand for minimally invasive treatment, further incorporating the demand for lung stents. The implementation of these stents offers better patient compliance as while aiding in maintaining optimal levels of vessel patency. Lung stent placement is among the preferred choice in the therapeutic treatment of malignant airway lesions due to their satisfactory clinical outcomes. Reduced surgical complications, rapid recovery, shorter stays in the hospitals, and effective management of post-surgical pain are other factors accelerating the demand for minimally invasive treatments.

 

Lung Stent Market Analysis

 Lung Stent Market Size, By Product, 2021 - 2032 (USD Million)

Based on product, the tracheal segment held 69% of the lung stents market share in 2022 and is expected to register growth at a notable CAGR from 2023-2032. The growing popularity of tracheal stents can be attributed to several variables, including their accessibility in a variety of sizes, forms, and materials, as well as the decreased risk of surgical complications following stent implantation. Furthermore, the rising usage of tracheal stents in the therapy of big airways and non-malignant diseases is likely to drive the segment development.

 

In terms of material, the lung stent market from the hybrid segment is set to witness 12% CAGR from 2023-2032. Hybrid lung stents often have a silicone coating or covering over a metal foundation. This combination lowers the risk of mucosal irritation or tissue overgrowth and enables better adaptability to the airway structure. The adoption of hybrid lung stents also alleviates some of the constraints associated with only metal or silicone stents, subsequently contributing to the industry development.

 

 Lung Stent Market Revenue Share, By End-use, 2022

Based on end-use, the lung stent market size from the hospitals’ segment is projected to reach USD 347.2 million by 2032. The segment growth is attributed to the higher availability of enhanced pulmonology facilities with quick diagnoses. Due to the accessibility of cutting-edge equipment and well-equipped facilities, hospitals are performing an increasing number of respiratory treatments. In addition, the economic burden of lung disease treatment in both developed and developing nations will promote the segmental expansion.

 

North America Lung Stent Market Size, 2020 - 2032 (USD Million)

North America lung stent market accounted for more than USD 72.9 million in 2022 and is estimated to exhibit robust growth through 2032. This regional market expansion is driven by the rise in hospitalizations for respiratory disorders. For instance, one in seven middle-aged or older Americans suffer from lung problems, according to latest statistics. Furthermore, the increasing focus by significant firms on providing effective treatment options will influence the regional market progression.

 

Lung Stent Market Share

Some of the major market players operating in the lung stent market are

  • Merit Medical Systems, Inc.
  • Boston Scientific Corporation
  • Micro-Tech (Nanjing) Co., Ltd.
  • Hood Laboratories
  • Cook Group
  • Taewoong Medical Co Ltd
  • Novatech SA

 

Lung Stent Industry News

  • In July 2022, Boston Scientific Corporation announced the acquisition of Synergy Innovation Co. to gain access to the publicly traded Korean business M.I.Tech while reinforcing its industrial position.

Lung stent market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in (USD) and volume (units) from 2018 to 2032, for the following segments

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By Product, 2018 - 2032 (USD Million & Units)

  • Tracheal stents
  • Bronchial stents
  • Laryngeal stents

By Device Type, 2018 - 2032 (USD Million & Units)

  • Self-expandable
  • Balloon-expandable

By Material, 2018 - 2032 (USD Million & Units)

  • Metal
    •  Stainless
    •  Nitinol
  • Silicone
  • Hybrid

By Patient, 2018 - 2032 (USD Million)

  • Adult
  • Pediatric

By End-use, 2018 - 2032 (USD Million)

  • Hospitals
  • Ambulatory surgical centers
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Poland
    • Sweden
    • The Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Philippines
    • Vietnam
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Columbia
    • Peru
    • Chile
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Turkey
    • Israel
    • Iran

 

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )