Market Size of Airway Stent/Lung Stent Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.20 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Airway Stent Market Analysis
The airway stent /lung stent market is expected to register a CAGR of 6.2% during the forecast period.
The COVID-19 pandemic had a notable impact on the airway stent /lung stent market due to the increase in respiratory difficulties associated with COVID-19. According to an article published in PubMed in August 2022, tracheobronchial stenosis can be treated relatively safely and effectively with tracheobronchial stent insertion. Under general anesthesia and positive pressure breathing, rigid bronchoscopy is commonly used to place silicone stents. As per the study, the treatment of tracheobronchial stenosis brought on by a tumor in a patient with COVID-19 was successfully managed intraoperatively by tracheobronchial stenting under venovenous extracorporeal membrane oxygenation (VV-ECMO). Furthermore, a case report published in 2021 by EHS showed that the combination of balloon dilatation and stent implantation is a good alternative to reoperation for patients with COVID-19. Due to the availability of individualized airway stents for each patient and other additional medical-grade materials advancements, the airway stent market is likely to witness growth in the coming years.
The airway stent /lung stent market is expected to witness healthy growth due to the rising prevalence of lung and respiratory disorders and people's growing preference for minimally invasive surgeries. As per the Cancer Tomorrow report, the estimated number of lung cancer cases is projected to be 2,519,283 by 2025. In addition, surgery with the airway or lung stent is minimally invasive. This means there is a lesser hospital stay and minimal pain generated post-surgery. Many people are preferring invasive surgeries around the globe due to the ease of minimally invasive surgeries, which adds value to the market.
As per the article published in April 2022 by Nature journal, the study showed that airway stents could be inserted first to reduce dyspnea intolerance in patients with esophageal cancer complicated by malignant airway stenosis and provide options for additional follow-up treatment. Sequential treatment of esophageal cancer complicated by severe airway stenosis is safe and effective when used with transarterial infusion chemotherapy (TAIC). Furthermore, product approvals and R&D relating to the airway stent/lung stent are boosting the market growth. For instance, in January 2020, the US FDA cleared patient-specific airway stents developed by Cleveland Clinic physician Tom Gildea.
Hence considering the above-mentioned factors, the airway stent /lung stent market is likely to witness growth during the forecast period. However, the availability of alternative treatments and complications associated with stents restrain the market growth.
Airway Stent Industry Segmentation
As per the scope of the report, airway stents, also known as tracheobronchial prostheses, are tube-shaped devices with hollow lumen inserted into an airway. They are usually placed bronchoscopically and can be used to treat various airway diseases.
The airway stent/lung stent market is segmented by Product (Self-Expandable Stents, Balloon- Expandable Stents), Material (Metal (Nitinol, Stainless Steel) Silicone, Hybrid), Type (Tracheobronchial Stents, Laryngeal Stents), and Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value in USD million) for the above segments.
By Product | |
Self-Expandable Stents | |
Balloon- Expandable Stents |
By Material | ||||
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Silicone | ||||
Hybrid |
By Type | |
Tracheobronchial Stents | |
Laryngeal Stents |
Geography | ||||||||
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Airway Stent/Lung Stent Market Size Summary
The airway stent and lung stent market is poised for significant growth, driven by the increasing prevalence of lung and respiratory disorders and a rising preference for minimally invasive surgical procedures. The market is expected to expand steadily over the forecast period, supported by advancements in medical-grade materials and the availability of personalized airway stents. The COVID-19 pandemic has further underscored the importance of airway stents, as they have been effectively used to manage respiratory complications associated with the virus. The use of silicone stents, known for their effectiveness in maintaining airway patency and their favorable safety profile, is anticipated to grow, particularly in the treatment of benign and cancer-related tracheobronchial strictures. The market's expansion is also bolstered by ongoing research and development efforts, as well as regulatory approvals that enhance the adoption of these medical devices.
North America is expected to be a key region for market growth, attributed to the high prevalence of airway and lung diseases, a well-developed healthcare infrastructure, and favorable reimbursement policies for medical devices. The presence of numerous companies manufacturing airway and lung stents in the region, coupled with active research initiatives, contributes to the market's robust size. The competitive landscape is characterized by a mix of international and local players, with major companies engaging in strategic mergers and acquisitions to strengthen their market positions. Initiatives by government and non-government organizations to raise awareness about lung health further support market growth. Despite the promising outlook, the market faces challenges from alternative treatment options and potential complications associated with stent use.
Airway Stent/Lung Stent Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Prevalence of Lung and Rspiratory Disorders
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1.2.2 Growing Preference of People For Minimally Invasive Surgeries
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1.3 Market Restraints
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1.3.1 Availability of Alternative Treatments
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1.3.2 Complications Associated with Stents
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Self-Expandable Stents
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2.1.2 Balloon- Expandable Stents
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2.2 By Material
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2.2.1 Metal
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2.2.1.1 Nitinol
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2.2.1.2 Stainless Steel
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2.2.2 Silicone
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2.2.3 Hybrid
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2.3 By Type
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2.3.1 Tracheobronchial Stents
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2.3.2 Laryngeal Stents
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Airway Stent/Lung Stent Market Size FAQs
What is the current Airway Stent/Lung Stent Market size?
The Airway Stent/Lung Stent Market is projected to register a CAGR of less than 6.20% during the forecast period (2024-2029)
Who are the key players in Airway Stent/Lung Stent Market?
Boston Scientific Corporation, Taewoong Medical Co., Ltd., Cook Group, Micro-Tech (Nanjing) Co., Ltd. and Merit Medical Systems, Inc. are the major companies operating in the Airway Stent/Lung Stent Market.