(EnergyIndustry.Net, June 08, 2019 ) According to the new market research report " Lung Stent Market by Type (Tracheal, Laryngeal), Product (Self expandable, Balloon expandable), Material (Metal (Nitinol, Stainless Steel) Silicone, Hybrid), Procedure (Bronchoscopy (Rigid, Flexible), Laryngoscopy) - Global Forecast to 2022", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
The rapidly increasing geriatric population, rising preference for minimally invasive procedures, high prevalence of tobacco smoking, and rising prevalence of lung cancer and other respiratory diseases are the major factors driving the growth of the lung stents market. On the other hand, stringent regulations for the approval of lung stents and the availability of treatment alternatives for lung diseases are the major factors that are expected to restrain the growth of this market during the forecast period.
The lung stents market is expected to reach USD 105.6 Million by 2022 from an estimated USD 76.3 Million in 2017, at a CAGR of 6.7%. Based on product, the self-expandable stents segment accounted for the largest share of the global lung stents market. The large share of this segment is due to their easy removability, decreased possibility of complications, and the higher adoption of this stents by intervention pulmonologists.
Based on type, the tracheal stents segment accounted for the largest share of the global lung stents market. The large share of this segment is due to high incidence of lung cancer, increasing prevalence of chronic diseases such as COPD & asthma, rapid growth in the geriatric population, and improving healthcare affordability in developed countries.
Based on material, the metal stents segment accounted for the largest share of the lung stents market. The large share of this segment can be attributed to their ease of insertion, thinner walls as compared to silicone stents, a lower possibility of dislodgment or migration, and ability to adapt to the twisted airway.
North America accounted for the largest share of the lung stents market in 2016, followed by Europe and Asia Pacific. The presence of a highly developed healthcare system, rising geriatric population, increasing incidence of lung cancer, quick adoption of new and innovative products, and many lung stents manufacturing companies in this region are the major factors responsible for the large share of North America in the global lung stents market.
The prominent players in the global lung stents market are Boston Scientific (US), C.R. Bard (US), Teleflex (US), Cook Group (US), Merit Medical Systems (US), Novatech (France), Fuji Systems (Japan), Taewoong Medical (South Korea), ENDO-FLEX (Germany), M.I.Tech (South Korea), Micro-Tech (Nanjing) (China), EFER ENDOSCOPY (France), Hood Laboratories (US), S&G BIOTECH (South Korea), Changzhou Health Microport Medical Device (China), and Kapitex Healthcare (UK).