Lung Stent Industry: Robust Expansion Ahead Based on Growing Prevalence of Lung Diseases
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Lung Stent Industry |
Growing
Prevalence of Lung Diseases Driving Demand for Lung Stent Industry
The global lung stent market has been witnessing strong growth owing to the
rising incidence of lung diseases globally. According to the Global Burden of
Disease Study, chronic obstructive pulmonary disease (COPD) affected over 251
million people worldwide in 2016. The increasing geriatric population is
another key factor fueling the prevalence of various respiratory disorders
since aging is one of the biggest risk factors for COPD and lung cancer. As per
the WHO, by 2050, the population aged 60 years and older is expected to total 2
billion, up from 900 million in 2015. The growing cases of lung diseases are
propelling the demand for minimally invasive procedures using lung stents for
treatment.
Metal Lung Stent Industry Dominate the Market
Based on material, the Global
Lung Stent has been divided
into metal and non-metal stents. In 2020, the metal lung stents segment
accounted for the larger share of over 70%. This as metal stents have been the
standard stenting option owing to their mechanical strength and radiopacity.
Moreover, metal stents experience less tissue hyperplasia and have a lower risk
of migration as compared to non-metal variants. Some of the commonly used metal
materials for lung stenting include nitinol and stainless steel owing to their
flexibility, durability, biocompatibility, and radiopacity. However,
non-metal/bioresorbable stents are gaining traction gradually due to advantages
such as reduced risk of inflammation and Migration.
Self-expandable Stents Witness Higher Demand
In terms of product, the global lung stent market has been categorized into
self-expandable and non-expandable stents. Self-expandable stents commanded the
dominant market share in 2020 as they offer advantages such as easy insertion
through narrow lumen and reduced risk of tissue damage. Self-expandable stents
apply continuous and uniform radial force to ensure proper functioning of the
airways. Some key self-expandable lung stent types available in the market are
metallic mesh stents and bioresorbable stent implants. On the other hand,
balloon-expandable stents require complex procedures involving balloon
inflation and deflation during insertion.
Bronchial Lung Stents Hold Major Share
Based on application, the global lung stent market covers bronchial and
tracheal procedures. Of these, the bronchial lung stents segment held a sizable
market share in 2020. This is because bronchial stenosis is a commonly
occurring complication post lobectomy, leading to high demand for bronchial
stents. Tracheal stenosis is relatively less frequent, thus impacting the
adoption of tracheal lung stents. However, with increasing preference for
minimally invasive procedures, the tracheal lung stents segment is expected to
witness faster growth over the forecast period.
Hospitals Generate Maximum Revenue
The global lung stent market has also been categorized based on end-user into
hospitals, ambulatory surgical centers, and others. Hospitals accounted for the
bulk of the total market revenue in 2020. This is owing to the high patient
preference for hospitals for respiratory care along with availability of
advanced diagnostic and therapy options. In addition, a large number of complex
airway obstruction cases requiring lung stenting procedures are managed in
hospitals. However, the ambulatory surgical centers segment is likely to
exhibit faster growth driven by benefits such as lower cost of care, reduced
waiting periods, and convenience.
North America Dominates Global Market
North America held the leading share in the global lung stent market in 2020
driven by significant patient population, rising lung cancer burden, favorable
reimbursement coverage, technological advancement, and healthcare investments.
Europe occupied the second position attributable to the increasing COPD prevalence and supportive regulatory environment for novel lung stents. Asia-Pacific is poised to witness the fastest growth throughout the forecast period credit to improving access to healthcare, economic expansion, and establishment of key market players in countries such as China and India.
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Topic- Global
Lung Stent
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