Global Colonic Stents Market - 2022-2029

Global Colonic Stents Market - 2022-2029

Market Overview

Colonic Stents Market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 5% during the forecast period (2022-2029).

The colonic stent is a hollow tube made up of an alloy or a flexible metal that keeps the lumen of the large bowel open when a stricture blocks it. A colonic stent will create a channel through the blockage and allow the bowel to function more easily, thus reducing pain.

Market Dynamics

The major driving forces are the increasing prevalence of colorectal cancer and technological advancements in colonic stents.

The rising incidences of colorectal cancer are pushing the market’s growth.

Rising incidences of colorectal cancer drive the global colonic stents market growth. According to the World Cancer Research Fund International, Colorectal cancer is the 3rd most common cancer in men and the 2nd most common cancer in women worldwide. There were more than 1.9 million new cases of colorectal cancer in 2020. According to the Global Cancer Observatory, in 2020, around 935,173 people died of colorectal cancer, of which 515,637 were males, and 419 536 were females. Overall, like most types of cancer, the risk of CRC increases with age. For every subsequent 5-year age group, the incidence rate doubles until age 50. Therefore, the growing geriatric population is fueling the global market growth; for instance, according to the WHO, the share of the population aged 60 years was 1 billion in 2020 and is estimated to be 2.1 billion by 2050. There are various advantages of invasive colorectal cancer screening, such as reliability, low cost, and better accuracy.

In addition, the increasing technological advancements in colonic stents are also boosting the global growth of the colonic stent market. The use of self-expanding alloys for manufacturing stents is one trend in the market, leading to market growth during the forecast period (2022-2029).

The postoperative complications are slowing the colonic stents market growth.

However, the high cost and complications associated with colonic stents are expected to hamper the growth of the colonic stents market during the forecast period. Some complications associated with colon stent placement include mild to moderate rectal bleeding, temporary incontinence, transient anorectal pain, and others. The complications associated with self-expandable metallic stents (SEMS) include re-obstruction and migration of the stent. Such complications are expected to hinder the market growth during the forecast period.

Industry Analysis

The colonic stents market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, research and developments, epidemiology, regulatory, pricing analysis, Etc.

Segment Analysis

The nitinol stents are estimated to oppress the market during the forecast period (2022-2029).

The nitinol stent accounted for the largest market share in 2021 due to its high preference for better flexibility. Nitinol is one of the most widely used alloys in stents manufacturing which is used against an acute colonic obstruction. Nitinol is a mixture of nickel and titanium metals. It improves flexibility and can be used for stenting sharply angulated regions with lesser radial force than stents made of other metals. In addition, the developments in the nitinol stent are fueling its dominance over the global market; for instance, A team at the Commonwealth Scientific and Industrial Research Organisation (CSIRO) has successfully designed and manufactured 3D print self-expanding nitinol stents using the selective laser melting (SLM) process, ensure the command of the nitinol stent throughout the forecast period (2022-2029).

Geographical Analysis

North America is predicted to hold most of the market share.

North America dominated the global colonic stents market accounting for the largest market share in 2021, owing to rising incidences of colorectal cancer and benign strictures in the US. In United States, colorectal cancer is the fourth leading cause of cancer-related deaths in the United States. According to cancer.net data, in 2020, an estimated 915,880 people died from colorectal cancer, including 576,858 people with colon cancer and 339,022 people with rectal cancer; in 2022, it is predicted that 151,030 American adults will be diagnosed with colorectal cancer, out of which 106,180 new cases will be of colon cancer (54,040 men and 52,140 women) and 44,850 new cases of rectal cancer (26,650 men and 18,200 women). Hence, with rising cancer cases, the demand for diagnosis and treatment is rising, which leads to market growth in this region. Furthermore, the growing choice for minimally invasive procedures and technological advancements to develop more compatible metallic stents are also boosting the market growth of colonic stents during the forecast period (2022-2029).

Competitive Landscape

A few major players dominate the colonic stents market, including Boston Scientific Corporation, Cook Medical Inc., Ella-CS Ltd., TaeWoong Medical, MI-TECH, and Olympus Corporation. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the Colonic Stents market globally. For instance, on 02 May 2022, Cook Medical’s Winston-Salem manufacturing facility secured ISO 14001 Certification. Also, on May 28, 2021, Olympus Corporation acquired Medi-Tate, an Israeli Medical Device Company.

Boston Scientific Corporation

Overview

Boston Scientific Corporation is a leading biomedical/biotechnology engineering Company involved in the global production of medical devices that are used in interventional medical specialties, such as interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology. Boston Scientific was founded in 1979 and is headquartered in Marlborough, Massachusetts, U.S.

Product Portfolio

Boston Scientific Corporation`s product portfolio for colonic stents has WallFlex Colonic Stents.

The colonic stents market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.