LONDON, Feb. 16, 2016 /PRNewswire/ -- The new report "Global Non-Vascular Stents Market Assessment & Forecast: 2015 - 2019" by Spearhead Acuity Business Research & Consulting group explores this emerging segment of stents market in six regions of North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa.
The global analysis follows a scrutiny of several factors that impact the market for non-vascular stents. This can be briefly described as macroeconomic analysis that covers political and regulatory changes along with a socioeconomic impact in all geographies. North America was the largest market with a share of 32.6% in 2014. Presence of the largest companies such as Boston Scientific, Cook Medical, Allium and Merit Medical has enabled North America to lead the market. However, the introduction of several innovative technologies has been under stringent regulations of the U.S.FDA. In 2010, serious whistle-blowing cases emerged as incidences of non-vascular stents being used for vascular applications were identified and lawsuits ensued. Asian countries particularly Korea and Japan are strong markets with presence of companies such as Taewoong Medical, Stentech, Micro-Tech (Nanjing) Ltd and MI Tech. Yet, as most of these devices are yet to receive marketing approvals, the cost of the devices are low and the sales are restricted to few international countries where market growth is moderate. Taewoong Medical however, is expected to compete in the U.S and Europe market with a great degree of acceptance of its products from the medical community.
This report encompasses the market analysis for three categories of non-vascular stents that are gastrointestinal stents (colorectal, esophageal, dyodenal or pyloric), Urological stents (ureteral and prostatic), Biliary and Pulmonary (biliary and pancreatic and pulmonary) stents. The market analysis is based on the location of placement namely, esophageal, duodenal/pyloric and colorectal stents. Colorectal cancer accounts for the largest incidence, hence the rate of procedures performed to treat blockages in colorectal section comprises the greatest value. The use of GI stents has increased drastically in the past few years particularly due to increase of rising incidence of colorectal and esophageal cancers. These GI stents can be made of nitinol or bio-absorbable materials. Since 2011, certain magnesium alloys having bio-absorbable properties are currently being experimented for making stents for both vascular and non-vascular applications.
SA-BRC expects the market to create significant opportunities by 2019 with greater number of approved products and competitors. A large number of patients eligible for tracheobronchial stenting and esophageal stenting will provide great opportunities as awareness and acceptability of products increase in emerging countries. Certain clinical challenges such as irritability, stent migration and hematuria (for ureteral stents) pose a hindrance to the usage; however these medical challenges are being answered through innovation such as softer and more biocompatible materials and biodegradable stents. We believe this is the time to grow roots in this market and to exploit the opportunity for acquiring or investing in small innovative players.
Download the full report: https://www.reportbuyer.com/product/3605155/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48