DUBLIN--(BUSINESS WIRE)--The "Airway Stent/Lung Stent Market by Type (Tracheal, Bronchial, Laryngeal Stent), Product (Non-Expandable, Self-Expandable Stents), Material (Metal (Nitinol, Stainless Steel), Silicone, Hybrid), End User (Hospitals, ASCs) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Airway Stent/Lung Stent Market is Projected to Reach USD 120 Million by 2024 from USD 87 Million in 2019, at a CAGR of 6.7%.
Factors such as rise in prevalence of lung cancer, increasing incidence of chronic respiratory diseases, continuous growth in the healthcare industry, and rising preference towards minimally invasive procedures are expected to drive the growth of the airway stent/lung stent market. However, the complications associated with stents and the availability of alternative treatments are anticipated to impede the growth of this market to a certain extent.
The tracheobronchial stents segment is projected to witness the highest growth during the forecast period.
Based on type, the airway stent/lung stent market is segmented into tracheobronchial and laryngeal stents. The tracheobronchial stents segment is projected to register the highest CAGR during the forecast period. The higher adoption of tracheal and bronchial stents in the treatment of lung cancer and other chronic respiratory diseases is driving the growth of this market.
The hybrid stents segment is expected to grow at the highest rate during the forecast period.
Based on material, the airway stent/lung stent market is segmented into metal, nitinol, and hybrid stents. Hybrid stents are expected to grow at the highest CAGR during the forecast period. These stents eliminate the complications caused by metal or silicone airway/lung stents. Moreover, their larger application as compared to metal & silicone airway/lung stents is driving their adoption among healthcare providers. However, hybrid airway/lung stents are more expensive than other airway/lung stents. This is a major factor limiting their adoption in emerging markets.
The ambulatory surgical center's segment is expected to register the highest CAGR during the forecast period.
Based on the end user, the airway stent/lung stent market is segmented into hospitals and ambulatory surgical centers. The ambulatory surgical center's segment is projected to register the highest CAGR during the forecast period. The rising number of ambulatory surgical centers and outpatient surgeries is driving the growth of this segment.
Asia Pacific to witness the highest growth during the forecast period.
Asia Pacific is expected to witness the highest growth during the forecast period (2019 to 2024). Rapidly developing healthcare industry in China & India, growth in aging population, rising incidences of lung cancer & other chronic diseases, rising life expectancy, mounting per capita income, increasing investments by key market players, expansion of private-sector hospitals & reach of ASCs to rural areas, availability of low-cost labor, and the presence of a favorable regulatory environment are supporting the growth of the airway stent/lung stent market in the Asia Pacific.
- Rising Prevalence of Lung Cancer and Respiratory Diseases
- Increasing Preference for Minimally Invasive Procedures
- Continuous Growth in the Healthcare Industry
- Increasing Life Expectancy
- Rising Healthcare Expenditure
- Growing Geriatric Population
- Decreasing Prevalence of Tobacco Smoking
- Availability of Alternative Treatments
- Complications Associated With Stents
- Need for Customized Lung Stents
- Development of Biodegradable and Drug-Eluting Lung Stents
- 3D Printing of Lung Stents
- Bess Aktiengesellschaft (Bess AG)
- Boston Scientific Corporation
- Cook Group
- E. Benson Hood Laboratories, Inc.
- Efer Endoscopy
- Endo-Flex GmbH
- Merit Medical Systems, Inc.
- Micro-Tech (Nanjing) Co., Ltd.
- Standard Sci. Tech Inc.
- Taewoong Medical Co., Ltd.
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