Market Trends of Airway Stent/Lung Stent Industry
This section covers the major market trends shaping the Airway Stent Market according to our research experts:
Silicon Stents are Expected to Witness Rapid Growth During the Forecast Period
Silicon stents are effective in maintaining airway patency and are associated with good tolerance and infrequent complications that are rarely life-threatening. They are safe, cost-effective, and easy to manipulate compared to other stents with different materials. The silicon stents come in balloon-expandable and expandable versions. These stents have been very useful in patients suffering from benign and cancer-related tracheobronchial strictures. The silicon stent segment is likely to witness growth during the forecast period. Silicone stents are better options as they are simpler to remove and are less likely to damage a future procedure.
Furthermore, the increasing prevalence of lung and airway disease is one of the major driving factors for market growth. According to AAFA, approximately 25 million people had asthma in 2021. According to the same source, around 5 million American youngsters had asthma in 2021. Additionally, silicon stents are also useful in lung transplantation strictures. Thus they are preferred over other materials during the treatment.
Increased R&D in the field of silicon stents improves the chances of adoption of silicon stents. As per the article published in April 2021 by Nature journal, an important feature of the GINA stent is the flexible, dynamic structure, which enables the reduction of the stent's cross-sectional area. The GINA stent has a flat part, like the membranous portion of the actual tracheobronchial tree, which makes the stent more contractible and facilitates the removal of airway secretions through an enhanced expiratory flow.
Hence, considering the above-mentioned factors, the silicon stents segment is likely to witness growth during the forecast period.
North America is Expected to Witness a Growth in the Airway Stent/Lung Stent Market During the Forecast Period
North America is likely to experience growth in the airway stent/lung stent market due to the high prevalence of airway-lung diseases, the developed healthcare system, and the reimbursement scenario for medical devices such as stents. As per the Cancer.Net 2022 update, an estimated 236,740 adults (117,910 men and 118,830 women) in the United States are likely to be diagnosed with lung cancer in 2022. Furthermore, according to the Asthma.ca 2021 annual report, every day, 317 Canadians are newly diagnosed with asthma. As per the same source, across Canada, asthma affects the lives of more than 3.8 million Canadians and is the third most common chronic disease.
In addition, many research activities are carried out relating to airway stents across the region. For instance, as per the 2022 report from the UMMC, custom-fitted 3D stent gives patients a route to easier breathing. A patient received placement of a silicone stent, made on a 3D printer, that sits snugly in the split that divides the left main bronchus to the upper and lower bronchi of the left lung that carry air to the patient's lungs. The presence of many companies that manufacture airway/lung stents in the country is a significant factor responsible for the large market size. For instance, in March 2021, Alaxo Airway Stents (Alaxo) strengthened its presence in North America by partnering with Portage College in Alberta, Canada.
Moreover, the rise in the number of initiatives undertaken by government and non-government organizations is increasing the overall revenue. Every November, the AACR and ALA celebrate Lung Cancer Awareness Month. Through the program, the organizations provide critical awareness about lung cancer and educate the public regarding the importance of lung health.
Hence considering the above-mentioned factors, North America is likely to witness growth during the forecast period.
