Lung Stent Market to reach $333.8 million, globally, by 2030 at 7.1% CAGR: Coherent Market Insights

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Feb 20, 2024, 10:30 ET

BURLINGAME, Calif, Feb. 20, 2024 /PRNewswire/ -- Coherent Market Insights published a report, titled, Global Lung Stent Market, By Product Type (Tracheobronchial Stents, Esophageal Stents, Pulmonary Artery Stents, Lobar Bronchus Stents, Others), By Material (Metal Lung Stents, Silicone Lung Stents, Hybrid Lung Stents and Others), By Type (Self-expandable Stents and Balloon- expandable Stents), By End User (Hospitals, Ambulatory Surgical Centers and Specialty Clinics) and By Geography: Global Market Size & Share, Analysis, 2023-2030. According to the report, the global lung stent market size was valued at $206.5 million in 2023, and is projected to reach $333.8 million by 2030, growing at a CAGR of 7.1% from 2023 to 2030. Lung stents are medical devices inserted in narrowed airways of lungs to help keep them open in patients suffering from lung cancer or other lung diseases. They help patients breathe more easily.

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Market Dynamics:

The Lung Stent Market is primarily driven by the increasing prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD), asthma, and lung cancer. According to the World Health Organization (WHO), respiratory diseases are on the rise globally, with COPD projected to be the third leading cause of death by 2030. This has led to a surge in the demand for lung stents as an effective treatment option for airway obstructions and strictures. Moreover, advancements in stent technology, such as the development of drug-eluting stents, which help in reducing complications and improving patient outcomes, are further fueling the growth of the market. Additionally, the growing geriatric population, who are more prone to respiratory disorders, is expected to contribute to the market growth.

Global Lung Stent Market Report Coverage

Report Coverage	Details
Market Revenue in 2023	$206.5 million
Estimated Value by 2030	$333.8 million
Growth Rate	Poised to grow at a CAGR of 7.1%
Historical Data	2018–2021
Forecast Period	2023–2030
Forecast Units	Value (USD Million/Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Product Type, By Material, By Type, By End User
Geographies Covered	North America, Europe, Asia Pacific, and Rest of World
Restraints & Challenges	• High costs associated with stent placement procedures • Risk of stent migration or obstruction • Alternative treatment options available
Growth Drivers	• Growing demand for minimally invasive procedures • Increasing risk factors such as smoking • Technological advancements in stent designs • Growing healthcare expenditure

Furthermore, the increasing adoption of minimally invasive procedures is another key driver for the market. Lung stents are being increasingly preferred due to their benefits such as shorter recovery time, reduced risk of complications, and improved patient comfort. These factors are expected to have a positive impact on the market growth in the coming years.

Market Trends:

There is an increasing focus on the development of bioresorbable stents. These stents are designed to gradually dissolve over time, thus eliminating the need for removal procedures. This trend is gaining traction as it offers several advantages, including reduced risk of complications, improved patient comfort, and cost-effectiveness. Manufacturers are investing in research and development activities to bring innovative bioresorbable stents to the market.

The tracheobronchial stents segment is expected to hold a dominant position in the lung stent market. These stents are primarily used to treat airway obstruction, which can be caused by various conditions such as tumors, inflammation, or external compression. Tracheobronchial stents provide support and maintain the patency of the airways, allowing for easier breathing and improved quality of life for patients.

The demand for tracheobronchial stents is projected to increase due to the growing prevalence of respiratory disorders, such as lung cancer and chronic obstructive pulmonary disease (COPD). In addition, advancements in stent materials and designs have improved their effectiveness and durability, driving their adoption in the market.

Metal lung stents are expected to dominate the lung stent market in terms of material type. These stents are commonly made from materials such as stainless steel or nitinol, which provide excellent radial force and flexibility. Metal lung stents are highly preferred due to their durability and ability to maintain patency over an extended period.

The increasing prevalence of lung diseases, such as lung cancer and pneumonia, is driving the demand for metal lung stents. These stents are used to open up narrowed or blocked airways, allowing for improved breathing and reduced symptoms. Moreover, advancements in stent technology, such as the development of drug-eluting stents, are further fueling the adoption of metal lung stents in the market.

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Recent Developments:

In 2022, Micro-Tech Endoscopy announced the availability of the first self-expanding tracheobronchial nitinol y-stent.

In August 2023, Theken Companies Purchased VisionAir Solution.

Key Takeaways:

The lung stent market is anticipated to witness a CAGR of 7.1% during the forecast period 2023-2030, owing to the increasing prevalence of respiratory disorders and advancements in stent technology.

On the basis of product type, the tracheobronchial stents segment is expected to hold a dominant position, owing to the high demand for airway obstruction treatment.

In terms of material type, metal lung stents are projected to dominate the market, thanks to their durability and ability to maintain patency.

Among the various types of lung stents, self-expandable stents are expected to be the most dominant, as they provide reliable support and can be easily deployed.

Hospitals are the major end users of lung stents, due to their advanced infrastructure and availability of skilled healthcare professionals.

North America is expected to hold a dominant position in the lung stent market, attributed to the high prevalence of respiratory disorders and favorable reimbursement policies.

Key players operating in the lung stent market include Boston Scientific, Cook Medical, Medtronic, Taewoong Medical, Hospitech, Bess, Endo-Flex, Efer Endoscopy, W. L. Gore & Associates, BD, Edwards Lifesciences, Healthy Medical Corporation, Pulmonx Corporation, Meril Life Sciences Pvt. Ltd, and C. R. Bard Inc. These players focus on product innovations, collaborations, and acquisitions to enhance their market presence and gain a competitive edge.

In conclusion, the lung stent market is expected to witness significant growth during the forecast period, driven by the increasing prevalence of respiratory disorders and advancements in stent technology. Tracheobronchial stents and metal lung stents are projected to be the key market opportunities, while North America is expected to dominate the market. Key players in the market are focused on product innovations and strategic collaborations to maintain their market position.

Read complete market research report, "Global Lung Stent Market, By Product Type, By Material, By Type, By End User, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2023-2030", Published by Coherent Market Insights.

Market Segmentation:

By Product Type:

Tracheobronchial Stents
Esophageal Stents
Pulmonary Artery Stents
Lobar Bronchus Stents
Others (Bronchopleural Fistula Stents, Endobronchial Valves)

By Material:

Metal Lung Stents
Silicone Lung Stents
Hybrid Lung Stents
Others (Plastic, Biodegradable)

By Type:

Self-expandable Stents
Balloon- expandable Stents

By End User:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics

By Region:

North America
U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
Australia
South Korea

§ Rest of Asia Pacific

Middle East & Africa
South Africa
GCC Countries
Rest of Middle East & Africa

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