LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global biliary stents market report. This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
The market is growing at a steady rate and is primarily driven by factors, such as the growing geriatric population, changing lifestyles, and the intake of unhealthy food that increase the incidence of digestive tract problems. The rising incidence of pancreatic cancer, biliary ailments, and cholelithiasis has increased the demand for biliary stents in the market.
Competitive vendor landscape
The market is highly fragmented with the presence of many vendors, including niche vendors from across the globe. It is characterized by the presence of well-diversified international and local vendors. Boston Scientific, Cook Medical, Medtronic, C.R. Bard, and Abbott Vascular dominate the market. The local and regional vendors in this market have a negotiable market share and have products with advanced features and technologies.
“Many vendors in the market are adopting the strategy of product bundling, which includes combining two or more products or services. Product bundling offers product differentiation with better product offerings. However, vendors are continuously losing their market share to small- and medium-sized vendors owing to price differentiation,” says Barath Palada, a lead orthopedics and medical devices research analyst from Technavio.
Biliary stents have today, occupied an important place in wide applications in the medical field. The popular products include WallFlex biliary RX stents, Evolution biliary controlled, E Luminexx vascular and biliary stent, and LifeStar vascular biliary stent systems. These products have advanced features, such as design and material, and come with easy stent delivery system.
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Top six biliary stents market vendors
Abbott Vascular engages in the development, manufacturing, and marketing of a wide range of healthcare products. The company's products are sold directly to wholesalers, retailers, healthcare facilities, hospitals, laboratories, physicians’ offices, and government agencies worldwide.
Boston Scientific develops, manufactures, and markets high-quality medical devices used for treating a wide range of medical conditions. It provides an extensive range of innovative products through its subsidiaries and divisions worldwide.
Cook Medical is a medical equipment company that designs, manufactures, and sells equipment for surgical, dental, hospital, and electromedical applications. Cook Medical also offers various introducer sheath sets and lead extraction devices used for cardiac rhythm management.
C.R. Bard designs, manufactures, and sells medical, surgical, diagnostic, and patient care devices. The company's products are available in more than 100 countries and has business operations in 90 countries. Its principle markets include Europe, Japan, and China. Its customers include individual healthcare professionals, extended care facilities, hospitals, and alternate site facilities. Its product portfolio features over 15,000 products.
Medtronic is the leader in the global non-vascular stents market. The company generated net sales of USD 20.3 billion in 2015, and the cardiac and vascular segment of the company accounted for about 46% of the overall revenue. The company leads in medical technology and offers an unprecedented depth in innovative medical products, therapies, and services.
Taewoong Medical develops various medical devices and has excellence in providing quality and technical expertise. Its Niti-S stents were granted product qualification certificates in the US, China, Japan, Canada, and Russia. The company designs gastrointestinal medical devices, urology stents, and accessories.
Browse Related Reports:
- Global Gastrointestinal Stents Market 2016-2020
- Global Non-Vascular Stents Market 2016-2020
- Global Gastrointestinal Therapeutics Market 2016-2020
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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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