Gastrointestinal Stents – Market Drivers and Forecasts from Technavio

Technavio publishes a new market research report on the global gastrointestinal stents market from 2016-2020. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global gastrointestinal stents market to grow at a CAGR of almost 4% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global gastrointestinal stents market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top vendors operating in the market.

The global gastrointestinal stents market is growing at a steady rate and is primarily driven by factors such as growing aging population, changing lifestyles, and intake of unhealthy foods that increases the incidence of digestive tract problems. The market leaders in gastrointestinal stents market include Boston Scientific and Cook Medical. The rising demand for gastrointestinal cancers such as colorectal cancer, esophageal cancer, gallbladder cancer, pancreatic cancer, and rectal cancer have increased the demand for gastrointestinal stents in the market.

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Technavio healthcare and life sciences analysts highlight the following three factors that are contributing to the growth of the global gastrointestinal stents market:

  • Increasing incidence of gastrointestinal disorders
  • Growing preference for MI procedures
  • Availability of new options for stent placement

Increasing incidence of gastrointestinal disorders

Gerontology diseases disproportionately affect the aging population, with prominent gastrointestinal disorders such as diverticulosis, bowel diseases, gastrointestinal malignancies, and urinary and fecal related problems. The changes in lifestyle like the increase in unhealthy diet and physical inactivity will result in raised blood pressure, blood glucose, lipids, and obesity. In the past few years, there has been a rise in morbidity and mortality from chronic diseases such as esophageal cancer, colorectal cancer, rectal cancer, and gastrointestinal related critical disorders.

Barath Palada, a lead orthopedics and medical devices analyst at Technavio, says, “Gastrointestinal stents are used during obstructions in urology such as blockage or shunt for fluid or in cases of nephrolithiasis, strictures, and tumors. Also, according to the American Gastroenterological Association, irritable bowel syndrome (IBS) impacts nearly 35 million Americans, causing recurring constipation, diarrhea, and abdominal pain.”

Growing preference for MI procedures

Over the years, minimally invasive surgeries have gained popularity. The low-risk complications and benefits associated with reduced cost and shorter hospital stay have driven the growth of MIS market. MI procedures offer faster recovery, less pain, fewer post-surgery infections, reduced hospital stays, reduced incision marks, bleeding control, minimal complications, and heightened accuracy. MI techniques are increasingly used to manage gastrointestinal diseases.

Stenosis is the most commonly remedied by minimally invasive surgery performed using non-vascular stents. Gastrointestinal stent interventions are the procedures performed minimally invasive that do not involve blood vessels. The surgeons use imaging technology to guide instruments inside the body without any surgery,” adds Barath.

Availability of new options for stent placement

Stents have evolved since their usage in vascular systems and has expanded its use in the biliary, pancreatic, and gastrointestinal tracts. Earlier, surgical bypass method was the only option available for the placement of stents inside a patient’s body. In the past few years, with the advent of minimally invasive techniques, the number of alternative options for stent placements has increased.

Few clinical studies confirmed that the procedure is effective and safe for placement of stents. Fluoroscopic guidance is another option that can be used alone or in combination with an endoscopic method for the stent deployment. This method uses external fluoroscopic markers, such as paper clips, coins, or other metallic objects and are helpful during stent placement.

Top vendors:

  • Boston Scientific
  • BD
  • Cook Medical
  • ELLA-CS
  • Medtronic
  • TaeWoong Medical

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global gastrointestinal stents market to grow at a CAGR of almost 4% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com