Gastrointestinal Gi Stent Market Size, Share, Industry Trends and Forecast to 2030

Gastrointestinal Gi Stent Market Size & CAGR in 2021

The global gastrointestinal gi stent market is anticipated to have a growth rate of 4.2% CAGR from 2021 to 2028. The market size is expected to reach USD 1.7 billion by the end of 2028. The increasing prevalence of gastrointestinal disorders and advancements in stent technology are the key factors driving the market growth.

COVID-19 Impact on the Gastrointestinal Gi Stent Market

The COVID-19 pandemic had a significant impact on the gastrointestinal gi stent market. The outbreak led to disruptions in the supply chain, delay in elective procedures, and reduced patient visits to healthcare facilities. However, with the gradual resumption of healthcare services and the adoption of telemedicine, the market has started to recover.

Gastrointestinal Gi Stent Dynamics

The gastrointestinal gi stent market is driven by factors such as the increasing incidence of gastrointestinal cancers and strict regulatory guidelines for the approval of stents. Technological advancements, such as the development of biodegradable stents and drug-eluting stents, are also contributing to market growth. However, high costs associated with stent placement procedures and complications related to stent migration are some of the challenges faced by the market.

Segments and Related Analysis

By Type:

- Self-Expandable Metal Stents (SEMS)

- Plastic Stents

- Others

By Application:

- Esophageal Stenting

- Colonic Stenting

- Duodenal Stenting

- Others

By Region Analysis

North America

- The North American gastrointestinal gi stent market is expected to lead in terms of market share due to the presence of well-established healthcare infrastructure and increasing cases of gastrointestinal diseases.

Europe

- Europe is expected to witness substantial growth in the gastrointestinal gi stent market due to the rising geriatric population and advancements in medical technology.

Asia Pacific

- The Asia Pacific region is projected to show significant growth in the gastrointestinal gi stent market, driven by the increasing healthcare expenditure and improving healthcare facilities.

Latin America

- Latin America is expected to experience growth in the gastrointestinal gi stent market due to the rising awareness about gastrointestinal disorders and the increasing adoption of advanced medical treatments.

Middle East and Africa

- The Middle East and Africa region are anticipated to witness steady growth in the gastrointestinal gi stent market, supported by the improving healthcare infrastructure and increasing government initiatives towards healthcare development.

Key Market Players and Competitive Landscape

Some of the key players in the gastrointestinal gi stent market include Boston Scientific Corporation, Cook Medical, Becton, Dickinson and Company, ELLA - CS, s.r.o., Medtronic, and Taewoong Medical Co., Ltd. These companies are focusing on product innovation, strategic collaborations, and mergers and acquisitions to strengthen their market position.

Recent Happenings in the Gastrointestinal Gi Stent Market

- In April 2022, Boston Scientific Corporation launched a new generation of self-expandable metal stents for gastrointestinal applications.

- Cook Medical announced the development of a biodegradable plastic stent for colonic stenting in May 2020.

- Medtronic introduced a drug-eluting stent for esophageal applications in September 2019.

- Taewoong Medical Co., Ltd collaborated with a leading healthcare institution to conduct clinical trials for a novel duodenal stent in October 2019.