The global gastrointestinal (GI) stents market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The gastrointestinal (GI) stent is a medical device used for effective endoscopic procedures. It is tube-shaped and acts as a substitute for many other medical processes. The major factor for the growth of the market is the increasing prevalence of cancer coupled with the rising geriatric population across the globe.
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According to the National Cancer Institute (NCI), it was estimated that 1,806,590 new cases of cancer will be diagnosed in the US with a mortality rate of 606,520 people in 2020. Additionally, in men, prostate, lung, and colorectal cancers will account for an estimated 43% of all cancers diagnosed while for women, the three most common cancers are breast, lung, and colorectal which will account for an estimated 50% of all new cancer diagnoses in women in 2020. Hence, the rising prevalence of colorectal cancer is increasing the demand for gastrointestinal stents, which in turn, is driving the growth of the market.
Some major players in the market include Olympus Corp., Boston Scientific Corp., and Conmed Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in October 2020, Olympus announced the commercial launch of HANAROSTENT Esophagus TTS self-expanding metal stents (SEMS). The stent was made by M.I. Tech and was distributed exclusively through Olympus in the US.
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Market Coverage
- Segment Covered-
- By Product
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Olympus Corp., Boston Scientific Corp., and Conmed Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Gastrointestinal (GI) Stents Market Report by Segment
By Product
- Biliary Stents
- Duodenal Stents
- Colonic Stents
- Pancreatic Stents
- Esophageal Stents
By Application
- Colorectal Cancer
- Biliary Disease
- Inflammatory Bowel Disease
- Stomach Cancer
- Others
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