Biliary Stents Market revenue to hit $449 Million by 2028, Says Global Market Insights Inc.
Biliary Stents Industry is anticipated to register around 5% CAGR between 2022 and 2028 due to the increasing prevalence of bile duct cancer and chronic liver disease.
SELBYVILLE, Del., Feb. 16, 2022 /PRNewswire/ -- Global biliary stents market value is predicted to surpass USD 449 million by 2028, according to a new research report by Global Market Insights Inc. Rising prevalence of bilio-pancreatic leakages will contribute to the industry demand.
Biliary stents insertion is a minimally invasive procedure performed to incorporate metal or polymer stent to extend the lumen of the biliary duct. Increasing adoption of minimal invasive procedure for biliary stent placement for the treatment of obstructive jaundice caused by obstruction in the biliary tract. For instance, as per the article published in Cureus Journal of Medical Science, approximately 350,000-500,000 ERCP procedures are carried out every year including diagnostic and therapeutic in the United States alone.
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The polymer stents accounted for over USD 115 million in 2021. The polymer stents are made of hydrophobic materials and are relatively inexpensive as compared to the metal stents. Polymer stents commonly placed in the bile duct also add an advantage of preserving barrier function of sphincter of Oddi as it prevents bacteria formation in the stent and biliary tract. Among various advantages of polymer stents, cost saving, easy removal, and minimal hospital stay are some of the most prominent.
Some major findings of the global biliary stents market report include:
- Rising preference of minimally invasive procedures boosts the demand for stents and is set to positively impact the business outlook.
- Rising prevalence of bilio-pancreatic leakages will positively contribute to the market expansion.
- Large population base coupled with increasing prevalence of chronic diseases will foster the market statistics.
Browse key industry insights spread across 139 pages with 171 market data tables & 16 figures & charts from the report, "Biliary Stents Market Outlook By Type (Metal Stents, Polymer Stents), Application (Bilio-pancreatic Leakages, Pancreatic Cancer, Benign Biliary Strictures, Gallstones), End-use (Hospitals, Speciality Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/biliary-stents-market
Biliary stents market from Bilio-pancreatic leakages segment is expected to cross USD 20 million by 2028. The bilio-pancreatic leakage is common after the pancreaticoduodenectomy procedure. The bilio-pancreatic leakage leads to significant expansion of the wound infection and delayed gastric emptying. The biliary and pancreatic stenting is used to establish patency of obstructed tract and treat such leaks. The provided benefit after the stenting procedure and technologically advanced equipment used for biliary stenting surgery will further drive the business landscape.
The ambulatory surgical centers exceeded USD 63 million in 2021 and is estimated to account for 20% revenue share by 2028. Increasing volume of procedures coupled with the growing awareness and increasing healthcare expenditure are some of the primary factors leading to the segmental growth. The technologically advanced tools used for the minimal invasive procedures are slated to foster the development of ambulatory care centers, thereby propelling the overall industry growth over the forecast period.
Biliary stents market in Asia Pacific is poised to expand at more than 6.2% CAGR till 2028. The upgradation of healthcare infrastructure in developing countries of Asia Pacific region will foster the industry expansion. The large population base coupled with a wider patient pool further signifies the increasing demand for better care services in the region. The increasing prevalence of pancreatic cancer propels the demand for biliary stents in the region.
A few prominent companies operating in the biliary stents market include B. Braun Melsungen AG, Cook Medical Inc., Olympus Corporation, CONMED Corporation, M.I. Tech, Becton, Dickinson and Company, ENDO-FLEX GmbH, Cardinal Health, Merit Medical Systems, Inc., Medtronic plc, among others. Industry players are focusing on various strategies such as acquisition, business expansion, mergers and innovative product launches to consolidate their market presence.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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SOURCE Global Market Insights Inc.
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