Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global non-vascular stents market, held a market share worth US$ 934.7 million in 2017 and is now projected to witness a CAGR of 4.7% during the forecast period (2017-2025).
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Non-vascular stents are gaining major traction, owing to the burgeoning prevalence of urological and gastrointestinal diseases, and their growing application spectrum in various emerging fields, such as ophthalmic and neural sciences. According to the American Cancer Society, around 40,000 new cases of rectal cancer and around 93,000 new cases of colon cancer are diagnosed in the U.S. each year. Furthermroe, the American Society of Nephrology reported that there were increasing cases of kidney stones reported in the U.S. in 2016. Thus, surging prevalence of kidney stones, tumors, strictures, and retroperitoneal fibrosis acts as a significnat growth driver for the global non-vascular ureteral stents market.
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Manufacturers in this industry are increasingly focusing on research activities, as well as new product approvals and launches in a bid to fuel their business growth. Most players are exclusively developing non-vascular stent products, while a few are focused on the manufacture of peripheral and coronary stents. ELLA-CS and Taewoong Medical Co., Ltd. focus completely on gastrointestinal stents. Single-product start-ups such as Transcend Medical, Aquesys, and Ivantis Medical are the most recognized pharmaceutical and material manufacturers that play a crucial role in product innovation. Manufacturers are required to efficiently train surgeons and physicians to carry out non-vascular stents procedures, in turn boosting adoption rates. For instance, in 2009, Merit Medical Systems acquired the products previously distributed and manufactured by Alveolus, Inc., including Merit Endotek.
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Key Takeaways of the Non-vascular Stents Market:
- Among the numerous product types, the urological stents segment holds the key position in the global non-vascular stents market, owing to the escalating incidence of ureteral disorders, such as prostate cancer, urinary tract infection, kidney stone, and renal calculi.
- North America is poised to lead the global the non-vascular stents market in the near future, as chronic diseases are tremendously affecting the populace in the region. The presence of major industry players in the region further accelerates the regional market development.
- The key players operating in the global non-vascular stents market include Allium Medical, Boston Scientific, C.R. Bard, ELLA-CS, S.R.O, EndoChoice, Merit Endotek, Taewoong Medical, and Xlumena.
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