Lung Stent Market to reach $120 million by 2024

The lung stent market is projected to reach USD 120 million by 2024 from USD 87 million in 2019, at a CAGR of 6.7%. The increase in the prevalence of lung cancer & chronic respiratory disorders globally, combined with the increasing preference for minimally invasive procedures are some of the factors contributing to the growth of this market. However, the associated complication of using these stents and an increase in the availability of alternative treatments might hamper the growth of the airway/lung stents market.

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The tracheobronchial stents segment is expected to account for the largest share of the airway stent/lung stent market in 2019.

Based on type, the airway stent/lung stent market is categorized into tracheobronchial and laryngeal stents. In 2019, the tracheobronchial segment is expected to account for the largest share of the airway/lung stent market. The large share of this segment can be attributed to the high adoption of tracheal and bronchial stents in the treatment of lung cancer and other chronic respiratory diseases.

By material, the metal stents segment is estimated to account for the largest share of the airway stent/lung stent market in 2019.

Based on the materials used to manufacture airway/lung stents, the market is segmented into metal, silicone, and hybrid stents. Certain advantages associated with metal stents, such as ease of insertion, thinner walls as compared to silicone lung stents, a lower risk of dislodgment or migration, and ability to adapt to the twisted airway are driving the growth of this segment.

The self-expandable stents segment is estimated to hold the largest share of the airway stent/lung stent market in 2019.

Based on the product, the airway stent/lung stent market is segmented into expandable and non-expandable stents. Of this, the expandable stents segment is estimated to hold a larger share of the market in 2019, due to the higher preference of these stents by surgeons due to advantages such as easy insertion in bronchoscopy procedures, lower risks of stent-induced complications, small size, and their easy removal.

Hospitals will account for the largest share of the airway stent/lung stent market in 2019.

Based on end user, the airway stent/lung stent market is segmented into hospitals and ambulatory surgical centers. In 2019, the hospitals segment will dominate the airway/lung stents market. The growing number of hospitals, increasing cases of lung cancer & other chronic airway diseases treated in hospitals, growth in the healthcare sector in emerging economies, and the increasing out-of-pocket healthcare expenditure across the globe are the key factors driving the demand for airway/lung stents in hospitals.

North America is expected to dominate the market in 2019

In 2019, North America is estimated to account for the largest share of the airway/lung stent market, followed by Europe. The dominant share of North America is attributed mainly to the presence of several large hospitals, robust healthcare infrastructure, rising prevalence of diseases, growing geriatric population, and the rising healthcare expenditure.

The key players operating in the airway stent/lung stent market include Boston Scientific Corporation (US), Taewoong Medical Co., Ltd. (South Korea), Micro-Tech (Nanjing) Co., Ltd. (China), Novatech SA (France), Boston Medical Products, Inc. (US), E. Benson Hood Laboratories, Inc. (US), Merit Medical Systems, Inc. (US), Cook Group (US), EFER ENDOSCOPY (France), ENDO-FLEX GmbH (Germany), Standard Sci. Tech Inc. (South Korea), and Stening SRL (Argentina), among others.

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