U.S. Colonic Stents Market Expected to Reach $9.41 Million by 2026 with advancement in process by Boston Scientific Corporation, Cook Medical, Ella-CS, Taewoong
Pune, Maharashtra, India, December 4 2020 (Wiredrelease) Allied Analytics –:Self-expandable metal stents are majorly used for the treatment of acute colonic obstruction caused due to malignant colorectal cancer. Moreover, significant increase in the prevalence of colorectal cancer in the U.S. is anticipated to boost the market growth
“U.S. Colonic Stents Market by Product Type, Indication, and End User: Opportunity Analysis and Industry Forecast, 2018-2026,” The U.S. colonic stents market size was valued at $6.44 million in 2018, and is projected to reach $9.41 million by 2026, registering a CAGR of 4.8% from 2019 to 2026. By indication, the colorectal cancer segment accounted for a major share in 2018 and is expected to experience highest growth during the forecast period due to the increase in adoption of metallic stents for the treatment of colonic obstruction.
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The U.S. colonic stents market is highly competitive and the prominent players in the market have adopted various strategies for garnering maximum market share. These include expansion of their geographical presence through collaborations and focus on R&D activities for the development of metal stents. Major players operating in the market include Boston Scientific Corporation, Cook Medical Inc., Ella-CS, Taewoong, MI-TECH and Olympus Corporation.
The colonic stents market is segmented based on product type, indication, and end user. Based on product type, the self-expandable metal stents segment held the largest share in 2018, due to high usage of self-expandable metal stents for acute malignant large bowel obstruction and for palliative patients.
By indication, the market is segmented into colorectal cancer/bridge to surgery, benign colonic strictures, and other indications. Among these, the colorectal cancer segment garnered the largest share in 2018 as colorectal cancer is the third most common cancer diagnosed in both men and women in the U.S. and is expected to lead the market during the analysis period.
By end user, the market is divided into hospitals and specialty clinics. Amongst these, hospital segment gathered the major U.S. colonic stents market share in 2018, due to easy availability of these equipment and all other facilities required for the stenting procedure are in the hospitals.
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