Non-vascular Stents Market: Biodegradable Stents to Emerge as Trend

The growing expenditure on healthcare in developing nations and favorable reimbursement policies are expected to drive the demand for non-vascular stents. The growing investments on research and development are expected to help improve the designs and innovation in base materials. This will also help push the growth of the market. In addition to this, the demand for minimally invasive procedures is bolstering the growth of the global non-vascular stents market. According to a recent report by Transparency Market Research (TMR), the global non-vascular stents market will expand at a CAGR of 5.0% from 2017 to 2025. The market will rise from US$475.0 mn in 2016 to reach a value of US$730.5 mn by 2025.

Given below are some of the key questions answered by TMR expert analysts regarding the non-vascular stents market:

Q. What are the key factors fueling the growth of the global non-vascular stents market?

The growing instances of chronic obstructive pulmonary disease (COPD) on account of lung cancer, smoking, exposure to harmful chemicals, and tracheobronchial malacia are fueling the growth of the non-vascular stents market across the globe. The increasing occurrences of colorectal cancer and diseases of the gall stone will help boost the demand for gastroenterology stents. The prevalence of kidney stones among people is increasing and this help drive the demand for urology stents. In addition to this, the benign prostatic hyperplasia among geriatric population will also drive the demand for these stents. Growing expenditure on healthcare in developing nations will also help the market to grow. 

Q. Which regions will prove to be lucrative in the years to come?

North America is currently leading in the non-vascular stents market. The high expenditure in healthcare infrastructure and large pool of patients suffering from obstructive diseases are helping the North American non-vascular stents market. The favorable medical reimbursement policies by private companies as well as by governments are also aiding the growth of the market in the region. It is estimated that the revenue generated by North America would reach US$308.1 mn by 2025. 

Europe is anticipated to be the second most lucrative regional segment within the non-vascular stents market. However, it is Asia Pacific which will leave behind all other regions in terms of fastest growth rate. Asia Pacific is projected to exhibit a 5.4% CAGR between 2017 and 2025. Increased allocations for healthcare and growing number of hospitals and day care surgery centers in countries such as China and India are two factors mainly estimated to be behind the fast paced growth of Asia Pacific. 

Q. What are the recent developments in the field?

The introduction of bioabsorbable scaffolds and biodegradable polymers will propel the use of stents in urological, gastrointestinal, pulmonary, and biliary strictures. The negative and side effects of using durable polymer stents are eliminated in these stents and this is anticipated to propel the demand for these stents. Advancements in technology have helped in the development of stent technology, material, and design. This has led to the introduction of specially designed stents which can be used for particular conditions. For instance, poly lactic acid-glycolic acid, poly acryl amine, and poly capro-lactone are some of the newly designed stent materials, which are biodegradable and eliminate the need for stent removal. 


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