Biliary stents Market in U.S. On Position to reach $474 Million by 2025
Pune, Maharashtra, India, December 15 2020 (Wiredrelease) Allied Analytics –:Rise in biliary disorders cases such as benign biliary strictures, gallbladder disease, and biliary tract disease drives the market growth. In addition, increase in geriatric population and technological advancements associated with biliary stent design are expected to contribute towards the growth of the market.
According to a new report published by Allied Market Research, titled,”U.S. Biliary Stents Market by Type, Application, and End User: Opportunity Analysis and Industry Forecast, 2018 – 2025,”the U.S. biliary stents market was valued at $316 million in 2017, and is projected to reach $474 million by 2025, growing at a CAGR of 5.2 % from 2018 to 2025. The biliary metal stents garnered major shares of the U.S. biliary stents industry, and are expected to maintain this trend during the forecast period.
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Biliary stents are tubular devices that are made up of plastic or metal. Endoscopic stenting is the most common treatment for obstruction of the common bile duct or of the main pancreatic duct. Recent technological advancements in the stent insertion and metal stent design are represented by new, fully-covered lumen apposing metal stents. These stents are precisely designed for transmural drainage, with a saddle-shape design and bilateral flanges, to provide lumen-to-lumen anchoring, reducing the risk of migration and leakage.
Significant rise in the prevalence of biliary diseases and increase in surgical procedures of biliary diseases in the U.S. are the major factors driving the growth of the biliary stents market. However, surge in usage of alternatives in biliary surgeries is anticipated to hamper the U.S. biliary stents market size. In addition, high cost of procedure of biliary stents insertion is also estimated to restrain the U.S. biliary stents market growth. On the contrary, development of innovative smartphone applications is estimated to create lucrative opportunities in the near future.
By application, the biliary leaks segment was the highest contributor to the U.S. biliary stents industry, and this trend is expected to continue throughout the forecast period. Biliary leaks are one of the most common modalities that are treated using stents. A small hole along the bile ducts can cause bile to leak into the abdominal cavity. A bile duct leak can form either a complication of a surgery, such as liver transplant, or through gallbladder removal, or from trauma to the biliary system.
The U.S. biliary stents market is also classified on the basis of type of stents. Based on type, the market is segregated into metal biliary stents, and plastic biliary stents. Metal biliary stent was the highest contributor toward the U.S. biliary stents market growth in 2017 and is expected to maintain its dominance during the forecast period. This is attributed to the fact that metal stents possess the property of self-expansion that is widely being used in malignant stricture management. Furthermore, metal stents also possess a larger lumen and longer stent patency, which makes them one of the most sought after treatment options for malignant obstruction.
The major companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, Conmed Corporation, Cook Medical, B. Braun Melsungen AG, Medtronic plc, Terumo Corporation, Merit Medical, Olympus Corporation, and Becton, Dickinson and Company. The other players included in the value chain analysis (but not included in the report) are Taewoong Medical Co., Ltd., Biosensors International Group, Ltd., and others.
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Key Findings of the U.S. Biliary Stents Market:
Based on type, the metal biliary stents segment occupied more than three-fifths share in 2017 and is expected to remain so throughout the forecast period.
Based on application, the benign biliary strictures segment is expected to grow with a CAGR of 6.8% from 2018 to 2025.
Based on application, the biliary leaks segment held majority of the U.S. biliary stents market share in 2017 and is expected to retain it throughout the forecast period.
Based on end user, the ambulatory surgical center segment is expected to be the highest growing segment, registering a CAGR of 5.9% during the forecast period.
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