Airway Stent - Market Insights, Competitive Landscape and Market Forecast-2027

Airway Stent - Market Insights, Competitive Landscape and Market Forecast-2027

Airway Stents Market By Type (Tracheobronchial Stents And Laryngeal Stents), By Material Type (Metal Stents [Nitinol Stents, Stainless Steel Stents, And Other Metal Stents], Silicone Stents, And Hybrid Stents), By Product Type (Self-Expandable Stents And Non-Expandable Stents), By End-User (Hospitals, Ambulatory Surgical Centers And Others), by geography is expected to grow at a healthy CAGR forecast till 2027 owing to an increasing prevalence of lung cancer and respiratory diseases and rising preference for minimally invasive surgeries

Global airway stents market is expected to grow at a CAGR of 7.73% during the forecast period from 2022 to 2027. The increase in demand for airway stents is primarily attributed to the increasing prevalence of lung cancer and respiratory diseases. Moreover, high adoption of therapeutic treatments such as endoscopic therapy, bronchoscopy, and other treatments and rising preference for minimally invasive surgeries will propel the market growth of the device. Further, the technological advancements such as real-time data collection of the respiratory tract, and other advancements across the world are anticipated to bolster the market, thereby contributing to the growth of the airway stents market during the forecast period from 2022-2027.

Airway Stents Market Dynamics:

The airway stents market is witnessing a growth in product demand owing to various reasons.

The increasing prevalence of lung cancer and respiratory disorders, across the world are anticipated to bolster the market. For instance, according to World Health Organization (WHO) 2022, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths. As per the same source, it was estimated that nearly 2.21 million people were suffering from lung cancer globally in the year 2020. Due to the lung cancer, the airway is partly blocked making it difficult for a patient to breathe. Airway stents are inserted in the airway to keep it open, leading to easy breathing. Thus, the increasing prevalence of lung cancer will increase the demand of airway stents, thereby anticipated to propel the overall market growth of the device in the forecast period of 2022 – 2027.

Additionally, increasing prevalence of many respiratory disorders will increase the product demand in the market. For instance, airway stents are used to treat tracheobronchomalacia. In this condition, the airway becomes weak making the breathing process difficult. The condition can be cured by inserting an airway stent. Thus, the increasing prevalence of respiratory disorder may increase the demand of airway stents in the market, bolstering the overall market growth of the device.

Moreover, the increasing demand and awareness of minimally invasive surgeries will also increase the demand of the airway stents, thereby increasing the overall market growth of airway stents in the forecast period of 2022 – 2027.

However, stringent regulatory approvals of the device and the dearth of skilled professionals in remote regions may hamper the airway stents market growth.

The ongoing COVID-19 pandemic has also slightly impacted the market for airway stents. At the onset of the disease, there was a significant shortage, attributed to the imposition of stringent lockdowns to curb the spread of the virus. Hospital admissions for patients that are suffering from cancers and other chronic disorders were not a priority in comparison to the patients suffering from coronavirus. Production of some medical devices was also shut down. Furthermore, the surgeries were temporarily stopped during the pandemic. To reduce the COVID-19 transmission risk, the physician have either postponed or canceled the semi-urgent and elective cases. However, with masses being vaccinated, the airway stents market has picked momentum.

Airway Stents Market Segment Analysis:

Airway stents Market by Type (Tracheobronchial Stents and Laryngeal Stents), by Material Type (Metal Stents [Nitinol Stents, Stainless Steel Stents, and Other Metal Stents], Silicone Stents, and Hybrid Stents), By Product Type (Self-Expandable Stents and Non-Expandable Stents), By End-User (Hospitals, Ambulatory Surgical Centers and Others), By Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the type segment of the airway stents market, the tracheobronchial stents are estimated to hold a significant share in the airway stents market in the year 2021. This can be ascribed to the various advantages and a wide application circle that is associated with tracheobronchial stents.

The tracheobronchial stents are used in various indications like lung cancer and various respiratory disorders such as chronic obstructive pulmonary disorder (COPD). For instance, according to data published by World Health Organization (WHO) 2022, it was estimated that COPD was the third leading cause of death worldwide, causing 3.23 million deaths in the year 2019. Additionally, nearly 90% of COPD deaths were those in patients under 70 years of age in low- and middle-income countries. Moreover, COPD causes persistent and progressive respiratory symptoms, including difficulty in breathing, cough and phlegm production. The increasing prevalence of COPD will increase the demand of airway stents as they are used to treat the COPD symptoms, thereby increasing the demand of the device in the market. Therefore, the above factor is anticipated to propel the overall market growth of the device in the forecast period.

Moreover, the product launches, in turn, drive the product demand in the market. For instance, in February 2022, Micro-Tech Endoscopy, announced that the company has introduced the first self-expanding tracheobronchial nitinol y-stent. The Y-Shaped Tracheal Stent System is designed to be a flexible, and compliant device to aid in the treatment of malignant neoplasms at the tracheobronchial carina.

Thus, owing to the various advantages like high-resolution, larger magnification offered by the electron microscopes and an increase in the launch and approvals of electron microscopes, there will be an increase in the demand for electron microscopes, which in turn will drive the airway stents market growth.

North America is expected to dominate the overall Airway Stents Market:

Among all the regions, North America is estimated to achieve a significant share in the global airway stents market. The increasing prevalence of lung cancer and respiratory diseases and rising preference for minimally invasive surgeries will increase the demand for airway stents in North America, leading to a rise in the overall airway stents market growth.

For instance, as per the data published by Centers for Disease Control and Prevention (CDC) 2020, it was estimated that in the year 2019 in the United States, 221,097 new cases of Lung and Bronchus cancer were reported, and 139,601 people had died of this cancer. As per the same source, it was also concluded that for every 100,000 people, 53 new Lung and Bronchus cancer cases were reported and 33 people died of this cancer. Moreover, as per the CDC study cancer is the second leading cause of death in the United States, exceeded only by heart disease. One of every four deaths in the United States is due to cancer. The increasing prevalence and the mortality rate can be controlled by providing accurate treatment at the relevant stage of the disease. Airway blockage due to lung cancer can be cured by inserting an airway stent. Thus, the increasing prevalence of lung cancer in the region will increase the product demand ultimately propelling the overall market growth in the forecast period of 2022 – 2027.

Moreover, the increasing use of tobacco is one of the major risk factor of lung cancer and for many respiratory disorders. For instance, as per the data given by CDC 2022, it was estimated that in the year 2020, nearly 13 of every 100 U.S. adults aged 18 years or older smoked cigarettes. Additionally, as per the same source, cigarette smoking remains the leading cause of preventable disease, disability, and death in the United States, accounting for more than 480,000 deaths every year, or about 1 in 5 deaths. Thus, the increasing consumption of tobacco may increase the risk of development of lung cancer and respiratory ailments. These disorders can be cured by inserting an airway stents through a surgical procedure. Thus, the increasing prevalence of lung cancer and respiratory disorder will increase the demand of the device in the market thereby, increasing the overall market growth of the airway stents in the North America in the year 2022 – 2027.

Thus, all the above-mentioned factors are anticipated to propel the market for airway stents in the North America.

Airway Stents Market Key Players:

Some of the key market players operating in the airway stents market include Boston Scientific Corporation, TAEWOONG, MICRO-TECH (Nanjing) Co., Ltd., Novatech SA, Boston Medical Products Inc., HOOD LABORATORIES., Merit Medical Systems., Cook, Meditek Systems Pvt. Ltd., Stening SRL, Fuji Systems, Olympus, Kapitex Healthcare Ltd, Teleflex Incorporated., EFER ENDOSCOPY, among others.

Recent Developmental Activities in the Airway Stents Market:

In January 2020, The U.S. Food and Drug Administration has cleared 3D-printed, patient-specific airway stents developed by Cleveland Clinic's, a nonprofit American academic medical center based in Cleveland, Ohio.

Key Takeaways from the Airway Stents Market Report Study

Market size analysis for current airway stents market size (2021), and market forecast for 5 years (2022-2027)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the airway stents market.

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the global airway stents market.

Various opportunities available for the other competitor in the airway stents market space.

What are the top performing segments in 2021? How these segments will perform in 2027.

Which is the top-performing regions and countries in the current airway stents market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for airway stents market growth in the coming future?

Target Audience who can be benefited from this Airway Stents Market Report Study

Airway stents products providers

Research organizations and consulting companies

Airway stents-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in airway stents

Various End-users who want to know more about the airway stents market and latest technological developments in the airway stents market.

Frequently Asked Questions for Airway Stents Market:

1. What are Airway stents?

An airway stents, also known as tracheobronchial prostheses, is a medical device with tube-shape and a hollow lumen that is inserted into an airway. They are usually placed bronchoscopically and can be used to treat a variety of large airway diseases.

2. What is the market for Global Airway stents?

Global airway stents market is expected to grow at a CAGR of 7.73% during the forecast period from 2022 to 2027.

3. What are the drivers for the Global Airway stents Market?

The airway stents market is witnessing a positive market growth owing to the increasing prevalence of lung cancer and respiratory diseases. Additionally, high adoption of therapeutic treatments such as endoscopic therapy, bronchoscopy, and other treatments and rising preference for minimally invasive surgeries will propel the market growth of the device. Furthermore, the technological advancements such as real-time data collection of the respiratory tract across the world are anticipated to bolster the market.

4. Who are the key players operating in the Global Airway stents Market?

Some of the key market players operating in the airway stents market include Boston Scientific Corporation, TAEWOONG, MICRO-TECH (Nanjing) Co., Ltd., Novatech SA, Boston Medical Products Inc., HOOD LABORATORIES., Merit Medical Systems., Cook, Meditek Systems Pvt. Ltd., Stening SRL, Fuji Systems, Olympus, Kapitex Healthcare Ltd, Teleflex Incorporated., EFER ENDOSCOPY, others.

5. Which region has the highest share in Airway stents Market?

North America is expected to hold the highest share in the revenue in the airway stents market during the forecast period. Increasing prevalence of lung cancer and respiratory diseases and rising preference for minimally invasive surgeries will increase the demand for airway stents in North America, leading to a rise in the overall airway stents market growth in this region.

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