Market Overview-
The global biliary stent market size is expected to gain momentum owing to the increasing prevalence of biliary duct during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Biliary Stent Market, 2021-2028.”The market is expected to rise due to increased patient safety management and an increase in pancreatic cancer cases. Hence, it is popular among patients who want to reduce the cost of benign biliary strictures. According to the National Pancreatic Foundation, pancreatitis affects 50 out of every 100,000 persons in 2019.
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COVID-19 Impact-
Cumulative Impact of Covid-19 on Global Market
COVID-19 is a worldwide public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on industry growth during the forecast period. The report examines COVID-19 in light of consumer behavior and demand changes, purchasing patterns, supply chain re-routing, market dynamics, and government involvement.
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Segments-
By material, the market is segmented into metal and plastic. On the basis of application, the market is segregated into malignant obstruction, benign biliary strictures, biliary leaks, etc. On the basis of end users, the market is categorized into hospitals, speciality clinics, diagnostics laboratories, research and academic institutes, ambulance surgical centers, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report aims to provide complete market segmentation by type and application for metal non-covered biliary stents. The report contains critical market statistics on the major companies in the market and major trends and opportunities. The analysis of this report focuses on the static and dynamic pillars of the industries. It also identifies the driving forces and prospects for corporate growth.
Drivers & Restraints-
Increasing Focus on Minimally Invasive Procedure to Stimulate Growth
The growing popularity of the minimally invasive procedure is expected to boost the global biliary stent market growth during the forecast period.This is due to the increasing geriatric population and technological advances, which will open up new possibilities for treating biliary disorders. For instance, Advanix biliary plastic stents are made by Boston Scientific Corporation and are used to treat biliary strictures such as biliary stone disease, benign biliary strictures, and suspected and confirmed biliary malignancies. As a result, advancements in biliary stenting operations will improve the efficiency of stent implantation even further.Over the projected period, the existence of such revolutionary approaches in the treatment of biliary illnesses would provide profitable prospects for the worldwide market.
REGIONAL INSIGHTS
North America to Remain Dominant; Rise in healthcare Expenditure to Propel Growth
North America is expected to hold the largest global biliary stent market share during the forecast period.Advancements are driving the market in healthcare infrastructure and the growing population of persons suffering from biliary disorders in the region.
Asia Pacific is anticipated to hold a significant position in the market.The Chinese population’s changing lifestyle and dietary habits are increasing the incidence of biliary illnesses, including biliary tract cancer. The aforementioned factors, as well as the increased adoption of new technology, will drive the demand in China.
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Competitive Landscape-
Key Players Focus on Partnership to Strengthen their Market Position
The Competition Strategic Window examines the competitive landscape in terms of markets, applications, and geographies to assist the vendor in determining a match or alignment between their strengths and future growth potential. It describes the best or most advantageous match for vendors to pursue subsequent merger and acquisition plans, geographic expansion, research and development, and other growth methods.
Industry Development-
June 2019: Merit Medical buys Brightwater Medical for $50 million in a deal. According to Merit Medical, the business has received FDA approval for their ConvertX biliary stent device used to treat severe ureter blockages.
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List of Key Players Profiled in the Global Market for Biliary Stent:
- Boston Scientific Corporation
- Medtronic
- Cook
- Richard Wolf GmbH
- Olympus Corporation
- BD
- Stryker
- CONMED Corporation
- KARL STORZ
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