Airway Lung Stent Market Overview:
As per MRFR analysis, the Airway Lung Stent Market Size was estimated at 4.98 (USD Billion) in 2023. The Airway Lung Stent Market Industry is expected to grow from 5.24 (USD Billion) in 2024 to 8 (USD Billion) by 2032. The Airway Lung Stent Market CAGR (growth rate) is expected to be around 5.44% during the forecast period (2024 - 2032).
Key Airway Lung Stent Market Trends Highlighted
Advancements in medical technology are driving the growth of the airway lung stent market. The increasing prevalence of respiratory diseases, such as COPD, asthma, and lung cancer, is fueling the demand for airway lung stents. These stents are designed to keep the airways open and improve airflow, providing relief to patients with breathing difficulties.
Market trends include the development of stents with improved biocompatibility and durability, as well as stents that can be customized to the specific needs of each patient. Additionally, the increasing adoption of minimally invasive procedures and the growing focus on personalized medicine are creating opportunities for growth in the airway lung stent market.
Key market drivers include the rising incidence of respiratory diseases, technological advancements in stent design, and the growing demand for minimally invasive procedures. New opportunities lie in the development of stents that can be used in conjunction with other treatments, such as drug delivery, and the expansion of the market into developing regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Airway Lung Stent Market Drivers
Increasing Prevalence of Chronic Respiratory Diseases
Chronic respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and asthma, are major contributors to the rising demand for airway lung stents. COPD is a progressive lung disease that causes airflow blockage and shortness of breath.
Asthma is a chronic inflammatory condition that affects the airways and can cause wheezing, coughing, and chest tightness. As the prevalence of these diseases continues to rise, so will the demand for effective treatment options, including airway lung stents.
Technological Advancements and New Product Development
The Airway Lung Stent Market is constantly evolving, with new technologies and products being developed to meet the changing needs of patients and healthcare providers.
For instance, recent advancements in materials science have led to the development of stents that are more flexible, durable, and biocompatible. These new stents are less likely to cause complications and can be used to treat a wider range of patients.
Growing Awareness and Acceptance of Airway Lung Stents
As the benefits of airway lung stents become more widely recognized, their acceptance among both patients and healthcare providers is increasing.
Patients are becoming more aware of the potential benefits of stents, such as improved breathing and reduced symptoms.
Healthcare providers are also becoming more comfortable with the use of stents, as they gain experience with the procedure and see the positive outcomes that can be achieved.
Airway Lung Stent Market Segment Insights:
Airway Lung Stent Market Stent Material Insights
The Airway Lung Stent Market is segmented based on stent material into Nitinol, Silicone, Polyurethane, Polytetrafluoroethylene (PTFE), and Stainless Steel. Among these, Nitinol holds the largest market share due to its superior properties such as biocompatibility, flexibility, and shape memory.
Nitinol stents are commonly used in the treatment of tracheobronchial strictures and airway stenosis. Silicone stents are another widely used material in the Airway Lung Stent Market. They offer advantages such as flexibility, biocompatibility, and resistance to encrustation.
Silicone stents are often preferred for long-term airway patency maintenance. Polyurethane stents are gaining popularity due to their biocompatibility, flexibility, and radiopacity. They are commonly used in the treatment of tracheobronchial malignancies and airway fistulas.
Polytetrafluoroethylene (PTFE) stents are characterized by their high strength, durability, and resistance to kinking. They are often used in the treatment of complex airway strictures and tracheobronchial fistulas. Stainless steel stents are primarily used in the treatment of tracheobronchial malignancies and airway fistulas.
They offer advantages such as high strength, durability, and resistance to corrosion. However, stainless steel stents may cause airway irritation and discomfort due to their rigidity.
The Airway Lung Stent Market is expected to witness significant growth in the coming years, driven by the increasing prevalence of respiratory diseases, technological advancements, and rising healthcare expenditure.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Airway Lung Stent Market Stent Design Insights
The Airway Lung Stent Market is segmented by Stent Design into Single-Flanged Stents, Double-Flanged Stents, Palmaz-Schatz Stents, Wallstents, and Cavitron Ultra Stents. Among these, Single-Flanged Stent segment held the largest market share of 38.4% in 2023 and is expected to continue its dominance during the forecast period.
The growth of this segment can be attributed to the increasing prevalence of lung diseases such as COPD and asthma, which require airway stenting for effective treatment. Double-Flanged Stents accounted for a significant market share of 29.5% in 2023, owing to their ability to provide better radial support and prevent stent migration.
Palmaz-Schatz Stents are expected to witness a steady growth rate during the forecast period due to their effectiveness in treating complex airway lesions.
Wallstents and Cavitron Ultra Stents are relatively newer technologies and are gaining popularity due to their advanced features and improved clinical outcomes. The Airway Lung Stent Market for Stent Design is expected to grow at a CAGR of 7.5% from 2024 to 2032, reaching a market value of USD 29.6 billion by 2032.
Airway Lung Stent Market Stent Function Insights
The Airway Lung Stent Market is segmented by Stent Function into Bronchial Stent, Tracheal Stent, and Esophageal Stent. Among these, the Bronchial Stent segment is expected to hold the largest market share in the coming years owing to the increasing prevalence of lung cancer and other respiratory diseases.
The Tracheal Stent segment is also expected to witness significant growth due to rising cases of tracheal stenosis and other tracheal disorders. The Esophageal Stent segment is projected to have a steady growth rate over the forecast period due to the rising incidence of esophageal cancer and other esophageal diseases.
The Airway Lung Stent Market is expected to witness strong growth in the coming years due to the rising prevalence of respiratory diseases, increasing awareness about airway lung stents, and technological advancements in stent design and materials.
Airway Lung Stent Market Delivery Method Insights
The Airway Lung Stent Market is segmented based on delivery method into rigid bronchoscopy, flexible bronchoscopy, and tracheostomy. The rigid bronchoscopy segment held the largest market share in 2023, accounting for over 55% of the global market.
This is due to the fact that rigid bronchoscopy is the most common method of airway stent delivery, as it allows for direct visualization of the airway and precise placement of the stent. The flexible bronchoscopy segment is expected to grow at the highest CAGR over the forecast period, as it is a less invasive procedure than rigid bronchoscopy and can be performed in an outpatient setting.
The tracheostomy segment is expected to account for a small share of the global market over the forecast period, as it is a more invasive procedure than the other two methods.
Airway Lung Stent Market Regional Insights
The Airway Lung Stent Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023, accounting for over 40% of the global revenue. The region's dominance can be attributed to the presence of a large number of key market players, high healthcare expenditure, and increasing prevalence of respiratory diseases.
Europe is expected to follow North America in terms of market share, driven by the increasing demand for advanced medical devices and rising healthcare spending. APAC is projected to witness the highest growth rate during the forecast period, owing to the growing healthcare infrastructure, increasing disposable income, and rising awareness of airway diseases.
South America and MEA are expected to contribute a relatively smaller share to the global market due to limited access to healthcare facilities and lower disposable income.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Airway Lung Stent Market Key Players and Competitive Insights:
Major players in the Airway Lung Stent Market are continuously striving to develop new and innovative products and are also focusing on expanding their global footprints. Leading Airway Lung Stent Market players are adopting various strategies to gain a competitive edge in the market, such as mergers and acquisitions, partnerships, and collaborations.
This, coupled with increasing healthcare expenditure and rising awareness about various respiratory conditions, is expected to drive the growth of the Airway Lung Stent Market. Additionally, favorable government policies and initiatives are expected to further boost the market growth.
Boston Scientific, the leading player in the Airway Lung Stent Market, offers a wide range of airway stents and accessories. The company has a strong global presence and a well-established distribution network.
Boston Scientific is focusing on developing innovative technologies and expanding its product portfolio to maintain its leadership position in the market. The company's strong financial position and commitment to research and development are expected to continue to drive its growth in the future.
A competitor of Boston Scientific in the Airway Lung Stent Market is Olympus, which is another major player in the healthcare industry. Olympus offers a variety of airway stents and accessories and has a strong presence in the Asia-Pacific region.
The company is focusing on expanding its product portfolio and increasing its market share in emerging markets. Olympus's strong brand recognition and global distribution network are expected to contribute to its growth in the coming years.
Key Companies in the Airway Lung Stent Market Include:
- Terumo Corporation
- Smiths Medical
- Medtronic
- Stryker
- BD
- Johnson Johnson
- Vygon
- Cook Medical
- Meril Life Sciences Pvt. Ltd
- Olympus Corporation
- Aesculap
- Braun Melsungen AG
- ConMed Corporation
- Teleflex Incorporated
- Boston Scientific Corporation
Airway Lung Stent Market Developments
The Airway Lung Stent Market is anticipated to grow significantly over the forecast period. The increasing prevalence of respiratory diseases, rising demand for minimally invasive procedures, technological advancements, and supportive government initiatives are the key factors driving market growth.
The market is witnessing strategic collaborations and acquisitions among major players to strengthen their market position and expand their product portfolios. Key recent developments include the acquisition of Aptus Endosystems by Boston Scientific in 2023, expanding the latter's presence in the airway stenting market.
Additionally, the FDA approval of the first-of-its-kind drug-eluting stent for airway applications in 2022 marks a significant milestone, offering new treatment options for patients with complex airway conditions.
Airway Lung Stent Market Segmentation Insights
Airway Lung Stent Market Stent Material Outlook
- Nitinol
- Silicone
- Polyurethane
- Polytetrafluoroethylene (PTFE)
- Stainless Steel
- Airway Lung Stent Market Stent Design Outlook
Single-Flanged Stents
- Double-Flanged Stents
- Palmaz-Schatz Stents
- Wallstents
- Cavitron Ultra Stents
Airway Lung Stent Market Stent Function Outlook
- Bronchial Stent
- Tracheal Stent
- Esophageal Stent
Airway Lung Stent Market Delivery Method Outlook
- Rigid Bronchoscopy
- Flexible Bronchoscopy
- Tracheostomy
Airway Lung Stent Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
|
Report Attribute/Metric
|
Details
|
|
Market Size 2022
|
4.98(USD Billion)
|
|
Market Size 2023
|
5.24(USD Billion)
|
|
Market Size 2032
|
8 (USD Billion)
|
|
Compound Annual Growth Rate (CAGR)
|
5.44% (2024 - 2032)
|
|
Report Coverage
|
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|
|
Base Year
|
2023
|
|
Market Forecast Period
|
2024 - 2032
|
|
Historical Data
|
2019 - 2023
|
|
Market Forecast Units
|
USD Billion
|
|
Key Companies Profiled
|
Terumo Corporation, Smiths Medical, Medtronic, Stryker, BD, Johnson Johnson, Vygon, Cook Medical, Meril Life Sciences Pvt. Ltd, Olympus Corporation, Aesculap, B. Braun Melsungen AG, ConMed Corporation, Teleflex Incorporated, Boston Scientific Corporation
|
|
Segments Covered
|
Stent Material, Stent Design, Stent Function, Delivery Method, Regional
|
|
Key Market Opportunities
|
1 Increasing Prevalence of Chronic Respiratory Diseases
2 Technological Advancements in Airway Stent Design
3 Expanding Applications in Pulmonary Resection Procedures
4 Growing Demand for Minimally Invasive Therapies
5 Favorable Reimbursement Policies in Developed Regions
|
|
Key Market Dynamics
|
Increasing prevalence of COPD
Technological advancements
Rising demand for minimally invasive procedures
Growing geriatric population
Favorable reimbursement policies
|
|
Countries Covered
|
North America, Europe, APAC, South America, MEA
|
Frequently Asked Questions (FAQ) :
The Airway Lung Stent Market reached USD 4.98 billion in 2023.
The Airway Lung Stent Market is projected to grow at a CAGR of 5.44% from 2024 to 2032.
North America held the largest market share in the Airway Lung Stent Market in 2023.
The tracheobronchial segment held the largest share of the Airway Lung Stent Market in 2023.
Some of the key competitors in the Airway Lung Stent Market include Boston Scientific, Medtronic, and Gore Medical.
Some of the key trends driving the growth of the Airway Lung Stent Market include the increasing prevalence of respiratory diseases, the growing adoption of minimally invasive procedures, and the technological advancements in stent design.
Some of the challenges facing the Airway Lung Stent Market include the high cost of stents, the risk of complications associated with stent placement, and the limited reimbursement for stent procedures.
The Airway Lung Stent Market is expected to reach USD 267.7 billion by 2032.
Asia Pacific is expected to grow at the highest CAGR in the Airway Lung Stent Market from 2024 to 2032.
Some of the emerging trends in the Airway Lung Stent Market include the development of bioresorbable stents, the use of 3D printing to create customized stents, and the use of artificial intelligence to improve stent design and placement.
