Global Biliary Stent Market is valued at approximately USD 394.5 million in 2022 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2023-2030. Biliary stents are medical devices that are used to treat various conditions related to the bile ducts, which are part of the digestive system. The bile ducts are responsible for transporting bile, a fluid produced by the liver that helps digest fats, from the liver to the small intestine.
The Biliary Stent market is expanding because of factors such as increasing biliary duct disorders and growing elderly aged population. Biliary stents are typically made of metal or plastic and are inserted into the bile ducts to help maintain their patency or to provide drainage in cases where the normal flow of bile is obstructed. They can be used for both temporary and permanent purposes, depending on the underlying condition being treated. Its prevalence has progressively increased during the last few decades.
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According to Statista, in 2020, distant metastasis was the most common form of liver and bile duct cancer among Thai cancer patients, accounting for 87 new cases. Males made up the majority of new patients with liver and bile duct cancer during the same year. Furthermore, as per the American Society of Clinical Oncology, approximately 8,000 persons in the United States are diagnosed with bile duct cancer each year. People with intrahepatic bile duct cancer are diagnosed at an average age of 70. Another important component driving space is increase in elderly aged population. As geriatric and obese populations are predisposed to chronic diseases.
According to the World Bank Group, in 2020, the world’s elderly population was 727 million, and it is expected to triple over the next three decades, reaching 1.5 billion in 2050. In addition, Japan has always been at the forefront in terms of the proportion of residents aged 65 and above, with almost 86,000 elderly individuals entirely living in the island nation in 2021. Also, rising adoption of minimally invasive medical equipment and growing pancreatic disorders would create a lucrative growth prospectus for the market over the forecast period. However, stringent government regulation stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Biliary Stent Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players in the region. According to the American Cancer Society, about 8,000 people in the United States are diagnosed with bile duct cancer each year. This includes both intrahepatic and extrahepatic bile duct cancer. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising geriatric and target populations, and geographic expansion of key players in the market space.
Major market players included in this report are:
Boston Scientific Corporation
Medtronic plc
Abbott Laboratories
Biosensors International Group
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ENDO-FLEX GmbH
Richard Wolf GmbH
Olympus Corporation
CONMED Corporation
Becton, Dickinson and Company
Stryker Corporation,
Recent Developments in the Market:
In April 2023, Boston Scientific acquired Apollo Endosurgery, a medical technology firm that specializes in the design, development, and commercialization of less invasive medical devices that enable gastrointestinal therapeutic endoscopy and Endo bariatrics.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Material
Metal
Plastic
By Applications
Malignant Obstruction
Benign Biliary Strictures
Biliary Leaks
Others
By End-User
Hospitals
Specialty Clinics
Diagnostic Laboratories
Research and Academic Institutes
Ambulance Surgical Centers
Others
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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