A recent report published by Infinium Global Research on the lung stents market provides in-depth analysis of segments and sub-segments in the global as well as regional lung stents market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional lung stents market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global lung stents market. According to the report, the global lung stents market is projected to grow at a CAGR of over 5% over the forecast period of 2022-2028.
The global lung stents market was valued at USD about 100 million in 2022 and is expected to reach USD nearly 150 million in 2028, with a CAGR of over 5% during the forecast period. Increasing minimally invasive surgeries for respiratory problems will enhance the lung stents market demand during the forecast period. Patients undergoing minimally invasive procedures for respiratory conditions experience faster recovery, fewer complications, shorter hospital stays, and reduced blood loss. As a result, bronchoscopy, a non-surgical minimally invasive procedure for stent placement is being widely adopted at a high pace, thereby uplifting the demand for lung stents. Several advancements in minimally invasive procedures also are augmenting the number of individuals preferring minimally invasive procedures for the treatment of breathing problems. The increasing incidences of carcinoma have led to the increasing adoption of minimally invasive surgeries to bypass pain.
The demand for lung stents is increasing because of the increasing incidences of lung cancer and also the growing elderly population worldwide. Additionally, new innovations and technological advancements are driving the expansion of this market. 3D printing technology is utilized to manufacture drug-coated and patient-specific stents. These stents are coated with medicine to prevent excess tissue growth. Companies are using innovative technologies to develop advanced stents like patient-specific. Patients having congenital cystic adenomatoid having difficulty in breathing prefer stent placement. Therefore, the use of airway stents is significantly increasing and as a result, the demand for lung stents is expanding. Moreover, the placement of lung stents is cost-effective as compared to traditional procedures and has reduced the danger of complications. The dearth of skilled professionals and therefore the high cost of the treatment is restraining the growth of the market. Furthermore, Damage to the vessel from the catheter, an infection caused while inserting the stent, and irregular heartbeats are a number of factors that will hamper the expansion of the market.
The outbreak of the COVID-19 epidemic is an unprecedented effect on public health concerns and on the lung stents market. Healthcare professionals across the world have postponed minimally invasive surgeries to decline the chance of patients being exposed to COVID-19 in hospitals, thereby supporting the hospitals in converting operating theatres into medical care units. However, the high risk of significant complications because of the spread of the virus decreased the demand for stents during the covid-19 pandemic period. Further, the development of advanced vascular stents was also decreased during the covid-19 pandemic which hampered the market growth.
The global lung stents market is segmented into the Asia Pacific, North America, Europe, and also the Mideast & Africa. Among the regions, North America holds a major market share. The presence of major manufacturers, well-established healthcare infrastructure, and high awareness amongst surgeons resulted in the increasing adoption of those stents within the region. Moreover, the Asia Pacific region will grow at the fastest rate during the forecast period. The expansion of the region is attributed to the growing geriatric population, rising healthcare expenditure, and increasing prevalence of diseases. High adoption of therapeutic treatments like bronchoscopy, chemotherapies, and endoscopic therapy because of a rise in the prevalence within the geriatric population will further drive the market growth in the region.
The report on the global lung stents market covers segments such as type, product, and end-use. On the basis of type, the sub-markets include self-expandable, and balloon-expandable. On the basis of product, the sub-markets include tracheal stents, bronchial stents, and laryngeal stents. On the basis of end-use, the sub-markets include hospitals, ambulatory surgical centers, and others.
The report provides profiles of the companies in the market such as Boston Scientific, Taewoong Medical, Merit Medical Systems, Inc., MICRO-TECH (Nanjing) Co., Ltd., Boston Medical Products, Inc., Hood Laboratories., Cook Group, ENDO-FLEX GmbH, Meditek Systems Pvt. Ltd., and Stening.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the lung stents market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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