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(Medical-NewsWire.com, October 27, 2022 ) According to Precision Business Insights (PBI) latest report, the global gastrointestinal stents market size was valued at USD 417.0 million in 2021 and is expected to grow at a CAGR of 3.8% over the forecast period 2022-28. An artificial tube graft called a gastrointestinal stent is put into the body to prevent obstructions in the stomach, gullet, as well as small intestine. It is an expandable metal or plastic mesh tube that is inserted into an anatomical duct to treat blockages brought on by malignant tissues in the bile ducts, esophagus, intestine, or colon. It seeks to clear the blockage and lessen the pressure brought on by inflammation. Biliary, colonic, duodenal, esophageal, and pancreatic stents are a few of the most prevalent varieties of gastrointestinal stents.
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The Gastrointestinal Stents Market Growth Factors
A medical device with a tube-like structure called a gastrointestinal stent is utilized for endoscopic treatments that are both safe and efficient. Additionally, it serves as a replacement for numerous other medical procedures. One of the key factors driving the market's expansion is the rise in the incidence of various cancers among the general population. Another factor influencing market expansion is the increasing introduction of various innovations and research in the healthcare sector to develop diagnostic solutions and growth in the need for minimally invasive surgery. The aging population, rise in lifestyle diseases, and increased personal disposable income will all lead to more prosperous market expansion chances. Medical device approval regulations that are too strict will impede market expansion.
The Gastrointestinal Stents Market Trends
• One of the primary drivers of the market's growth is the rising incidence of colorectal cancer in the world. The market is also growing as a result of the aging population with gastrointestinal disorders like diverticulosis, bowel issues, and gastrointestinal malignancies.
• The market for gastrointestinal stents is expanding as a result of rising rates of GI cancers and other digestive ailments, changes in lifestyle, increasing healthcare spending on gastrointestinal therapies, and a rising need for less intrusive surgery.
The Gastrointestinal Stents Market Segmentation
The Global Gastrointestinal Stent Market on the basis of Type, the market is segregated into Biliary, Oesophageal, Colonic, and Pancreatic Stent. On the basis of Material, the market is divided into Nitinol, Stainless Steel, and Plastic. On the basis of Disease, the market is fragmented into Biliary Disease, GI Cancer, IBD. On the basis of End User, the market is categorized into Hospital, Diagnostic Centres, and Ambulatory Surgery Centres.
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The Gastrointestinal Stents Market Regional Analysis
In terms of market share and revenue, North America now dominates the marketplace for gastrointestinal/GI stents and will maintain this dominance over the projection period. This is due to the current advanced level of healthcare services and rise in cancer incidence. On the other hand, Asia-Pacific is anticipated to experience the highest growth rate throughout the course of the projection period due to the region's huge patient base, increased investment in healthcare infrastructure, growing elderly population, as well as increasing per capita disposable income.
The major players operating in the Gastrointestinal Stents Market are Boston Scientific (US), Cook Group (US), ELLA-CS (Czech Republic), Merit Medical Systems (US), Taewoong Medical (South Korea), Micro-Tech (China)
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