LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global airway stents market predicts a CAGR of more than 4% during the period 2018-2022.
The report segments the global airway stents market by product (self-expanding airway stents and bifurcated airway stents), by end-user (hospitals and ASCs), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global airway stents market, according to Technavio healthcare and life sciences researchers:
- Growing prevalence of cancer and respiratory disorders: a major market driver
- Introduction of 3D printed personalized airway stents: emerging market trend
- In 2017, the Americas dominated the global airway stents market
- In 2017, the self-expanding airway stents sector held the largest share of the market
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Growing prevalence of cancer and respiratory disorders: a major market driver
The growing prevalence of cancer and respiratory disorders is one of the major factors driving the global airway stents market. Also, preliminary conditions such as infections, tuberculosis, lymphoma, abnormal granulation tissue, metastatic cancers, and lung cancer are contributing majorly to the growth of the market. Another chronic condition such as COPD that blocks airflow and causes breathing-related problems such as emphysema and chronic bronchitis is driving the demand for airways stent.
According to a senior analyst at Technavio for research on orthopedics and medical devices, “It was projected that chronic lower respiratory disease was the third leading cause of death in the US in 2014. For instance, in 2016, it was estimated that nearly 16 million Americans were diagnosed with COPD. Furthermore, around 50% of adults with low pulmonary function were not aware that they had COPD. Majority of the geriatric population that is aged between 65–74 years is prone to respiratory disorders such as COPD. Also, people who have a history of asthma require airway stent.”
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Introduction of 3D printed personalized airway stents: emerging market trend
Over the last two decades, 3D printing has undergone a series of revolutions in the medical imaging industry. Owing to the ever-changing demand for airway stents, clinicians and researchers are concentrating on incorporating 3D printing technology into airway stents. The researchers are also focusing on introducing 3D printing in tissue engineering, procedural planning, and personalized manufacturing of airway stents. Rapid prototyping and additive manufacturing techniques in the healthcare have already yielded very exciting results. In medical industries, 3D printing is used in pulmonology.
Global market opportunities
In 2017, the Americas dominated the global airway stents market, followed by EMEA and APAC. The Americas accounted for nearly 49% share of the market, and the US was the largest revenue generator in the region in 2017. The airway stents market in the Americas is anticipated to grow steadily due to the rising incidences of airways obstructions disorders to maintain patent airways in tracheal stenosis and seal tracheoesophageal fistulas. Also, the rapid shift to MI procedures with technologically advanced stents is expected to boost the market growth during the forecast period.
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