The global Non-vascular stents Market is anticipated to rise due to the rise in the number of chronic obstructive pulmonary disease which is caused by smoking. The market is characterized by intense competition. The global players in these market aims on different growth strategies which includes launch of new products, merging and acquisition with small or regional players in order to expand their foothold in newer areas It has been also noticed that some of the regional players are able to snatch the share which is posing a challenge to Global players. Some of the leading players in the market are Cook Group Incorporated, Olympus Corporation, Taewoong Medical co., Ltd., Allium Medical Solutions Ltd., and Medi-Globe Corporation.
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According to a report by Transparency Market Research, the non-vascular stents is prognosticated to expand at 5.0% CAGR during the assessed 2017-2025. By the end of 2025, the market is expected to be valued at US$730.5mn. On the basis of segment, the market can be classified into product, material, end-user and region.
On the basis of products, gastroenterology stents accounts for the major share and is anticipated to continue so in the years to come. Rising cases of esophagus and colorectal cancer throughout the world has attributed to the growth of this segment. On the basis of geography, North America holds the leading segment due to strong and healthy healthcare infrastructure, but the increase in the healthcare allocations in India and China is anticipated to drive the market from Asia Pacific.
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Rise In Reimbursement by Government and Private Players to Help Global Non-Vascular Stents Market Grow
The major reason behind the growth of the global non-vascular stents market is the increase in instances of chronic obstructive pulmonary disease which is caused by the exposure to harmful chemical, lung cancer, and tracheobronchial malacia.
Rise in per capita expenditure on healthcare accompanied with favorable government and private medical reimbursement policies are favoring the growth of the market. Rise in investment on research and development team in order to develop better stent deigns and material accompanied with minimal invasive stenting procedures is helping the market grow.
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Increase in Geriatric Population to Favor the Non-Vascular Stents Market to Rise
Rise in prevalence of colorectal cancer and gall stone diseases in developed countries is predicted to burgeon the growth of gastroenterology stents during the forecast period. Rise in geriatric population all across the world is likely to help the market, as the geriatric population are more vulnerable towards various diseases due to less immunity, thus making them prone to various diseases.
High cost of metallic stents accompanied with stringent regulations by various authority and government bodies is likely to deter the growth of the market. However, rise in prevalence of kidney stones and prostatic hyperplasia in elderly population is expected to fuel the growth rate of the market. Increase in number of hospitals is also likely to help the growth of the market.
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