Non-Vascular Stents Market to Reach About US$ 2 Billion by 2032, Swayed by Cutting-edge Technology | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
US is expected to lead the non-vascular market with a CAGR of 3.9% during the forecast period, garnering a revenue of US$ 659.1 million by 2032.
DUBAI, United Arab Emirates, Sept. 22, 2022 (GLOBE NEWSWIRE) -- The non-vascular stents market size accounted for US$ 1.21 Billion in 2022 and is anticipated to garner a revenue of US$ 1.9 Billion by 2032, advancing at a CAGR of 4.5% during the forecast period (2022-2032). The global non-vascular stents market is expected to move forward in response to the growing demand for minimally-invasive procedures. Rising technological and material advancements are assisting in the development of specially designed stents for use in a variety of indications thereby fueling the overall non-vascular stents market growth.
Non-vascular stents use small, precise incisions, resulting in scars that are smaller and less visible than those left by traditional surgical techniques, putting the patient's safety in jeopardy.
The above-mentioned feature is anticipated to provide impetus to the non-vascular stents market adoption trends in coming years.
Such a surgery is associated with a faster recovery period, resulting in a shorter hospital stay for the patient, encouraging many to opt for the same.
Furthermore, patients are less likely to contract hospital-acquired illnesses like bloodstream infections and urinary tract infections if they stay in the hospital for a shorter period of time, in turn, propelling the demand for non-vascular stents.
The most visible and prominent factor spiking the sales of non-vascular stents is a surge in cases of chronic obstructive pulmonary disease (COPD), which is caused by smoking, lung cancer, tracheobronchial malacia, and chemical exposure.
Numerous innovations are taking place in the non-vascular stents market as new medical devices are developed to track gastrointestinal tract, urinary tract, and airway tract.
Non-vascular stents market trends are fostered by rising healthcare spending in developing countries, government and private insurance companies' helpful medical reimbursement policies, and the proliferation of hospitals and ambulatory surgical centers.
The non-vascular stents market is segmented by product type and by region, where by product type, the market is divided into gastrointestinal stents, pulmonary stents, urological stents, and others.
And by region, the non-vascular stents market is categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Key Takeaways:
Based on product type, the urological stents segment is likely to dominate the non-vascular stents market with a CAGR of 4.3% through 2032.
The US non-vascular stents market is expected to capture a sizeable non-vascular stents market share accounting for around US$659.1 million by 2032.
By 2032, the UK non-vascular stents market is expected to be valued at US$ 80.6 million, growing at a CAGR of 3.3%.
With a CAGR of 3.6% during the forecast period, China non-vascular stents market size is predicted to be apprised at US$ 128.1 million by 2032.
The Japan non-vascular stents market, with a CAGR of 3.9%, is projected to garner a worth of US$ 109.8 million by 2032.
Some of the leading non-vascular stents companies include Medtronic plc, Glaukos Corporation, Boston Scientific Corporation, ELLA - CS, s.r.o., CONMED Corporation.
One of the recent developments in the non-vascular stents market is when Medtronic acquired Medicrea, a fully dedicated spinal implant company focused on bringing reliable and cutting-edge technology to the global market.
Have a Look at Related Research Reports of Healthcare:
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Coronary Stents Market Growth: The market is expected to grow at a moderately high CAGR of 7% during the forecast period.
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Peripheral Vascular Stents Market Analysis: According to the latest industry analysis by FMI, the global Peripheral Vascular Stents Market reached a valuation of around US$ 3.5 Bn in 2021, and is expected to attain a net worth of US$ 5.3 Bn by 2028, expanding at a CAGR of 6% over the assessment period of 2022 to 2028.
Phototherapy Lamps Market Forecast: The global phototherapy lamps market size reached US$ 3.0 Bn in 2021 and is expected to enjoy a valuation of US$ 3.2 Bn by the end of 2022.
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