High incidence of colorectal cancer in the U.S. and significant increase in agreements and collaborations in the colonic stent industry are the major factors that drive the growth of the market. The hospital segment is projected to create new opportunities in the coming years. On the other hand, the benign colonic strictures segment is estimated to register the fastest CAGR of 6.7% during the forecast period.
According to the report published by Allied Market Research, the U.S. colonic stents market was pegged at $6.4 million in 2018 and is expected to garner $9.4 million by 2026, registering a CAGR of 4.8% from 2019 to 2026.
High incidence of colorectal cancer in the U.S. and significant rise in agreements and collaborations in the colonic stent industry are the major factors that drive the growth of the market. However, complications and high costs associated with colonic stents hamper the growth of the U.S. colonic stents market. On the contrary, development of innovative smartphone applications is expected to create lucrative opportunities in the near future.
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The U.S. colonic stents market is divided on the basis of product type, indication, and end user. Based on product type, the market is segmented into nitinol self-expandable metal stents (SEMS) and Elgiloy (self-expandable metal stents (SEMS). The nitinol SEMS segment dominated the market in 2018, contributing more than four-fifths of the market. However, the Elgiloy SEMS segment is projected to portray the fastest CAGR of 5.7% during the forecast period.
On the basis of indication, the market is bifurcated into cancer, gastrointestinal diseases, immunoproliferative disorders, and others. The colorectal cancer segment dominated the market in 2018, accounting for around 89% of the market. However, the benign colonic strictures segment is estimated to register the fastest CAGR of 6.7% during the forecast period.
Based on end user, the market is segmented into hospitals and specialty clinics. The hospital segment is projected to create new opportunities in the coming years. The segment held the largest share in 2018, contributing more than four-fifths of the market and is anticipated to register the fastest CAGR of 4.9% during the study period.
The U.S. colonic stents market report provided an in-depth analysis of the major market players such as Cook Medical Inc., Boston Scientific Corporation, Taewoong, Ella-CS, MI-TECH and Olympus Corporation. They adopted several business strategies such as partnerships, collaborations, new product launch, and mergers & acquisitions to maintain their foothold in the market.
|Market size available for years||2018 – 2026|
|Base year considered||2019|
|Forecast period||2018 – 2026|
|Forecast units||Value (USD)|
|Segments covered||By Product Type, By End-User|
|Geographies covered||United States|
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