DUBLIN, Jan. 24, 2024 /PRNewswire/ — The “Global Biliary Stents Market Size, Share & Trends Analysis Report by Type (Metal, Plastic), Application (Bilio-pancreatic Leakages, Pancreatic Cancer), End-use, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The latest market research on biliary stents is now available, revealing a promising outlook with an estimated value poised to reach USD 197.96 million by 2030. The industry is set to witness a Compound Annual Growth Rate (CAGR) of 5.0% from 2024 through 2030, fueled by the rising incidence of biliary complications and liver diseases.
Significant Market Trends and Segment Analysis
According to the report, growth within the biliary stents market is significantly driven by technological advancements, an increase in bile-duct related diseases, and a preference for non-invasive treatment options. Notably, the North American region leads the global market with a commanding revenue share of 43.69%. The state-of-the-art healthcare infrastructure, heightened awareness of gastrointestinal health issues, and an expanding elderly population contribute to its market stronghold.
The Types, Applications, and End-use Domains
The market is segmented into different categories including type, application, and end-use, each with individual growth factors:
In terms of type, the metal stents segment has achieved a dominant revenue share of 66.99%, attributed to innovations such as the fully covered self-expandable metal stents (FCSEMS).
With regard to application, the gallstones sector held a large portion of the market, accounting for 41.28% of the revenue in line with the growing incidence of gallstone-related complications.
Regarding end-use, hospitals are leading with a revenue share of 74.23%, serving as a critical setting for a myriad of medical interventions, including biliary stent placements.
Market Challenges and Forward Momentum
While the biliary stents market continues to advance, it also faces hurdles such as the downturn in cancer screenings due to the COVID-19 pandemic. Nonetheless, the overall growth trajectory remains positive, supported by the expanding application of endoscopic luminal stenting (ELS) as a superior alternative in managing gastrointestinal obstructions. For individuals seeking detailed insights into the biliary stents market dynamics, growth factors, challenges, and forecasts, this recently published research offers a comprehensive perspective into what lies ahead for this vital medical device sector.
Companies Mentioned
Boston Scientific
Cook Group
ENDO-FLEX GmbH
Olympus Corporation
B Braun Melsungen
CONMED Corporation
M.I Tech
C.R.Bard (Becton, Dickinson & Company)
Medtronic plc
Cardinal Health
Merit Medical System
For more information about this report visit https://www.researchandmarkets.com/r/v9rfd1
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SOURCE Research and Markets