Global Colonic Stents Market Overview
As per MRFR analysis, the Colonic Stents Market Size was estimated at 3.87 (USD Billion) in 2022.
The Colonic Stents Market Industry is expected to grow from 4.1(USD Billion) in 2023 to 6.93 (USD Billion) by 2032. The Colonic Stents Market CAGR (growth rate) is expected to be around 6.0% during the forecast period (2024 - 2032).
Key Colonic Stents Market Trends Highlighted
However, the Colonic Stents Market continues to increase due to the rising incidence of bowel cancer, diverticulitis, and other diseases that require colonic stenting. The expansion of the market's horizon includes new developments such as self-expanding stents and biodegradable stents. In addition, the increasing desire for less invasive procedures is contributing to increased usage of colonic stents.
On the other hand, certain market trends such as attention towards personalized medicine, artificial intelligence (AI) integration into the design and development of stents and the use of new materials to improve stent performance are some of the notable market trends. Other market growth factors are the establishment of center stents for targeted colorectal diseases, expansion of the colonic stent market in developing nations, and intensive development of joint therapies with other devices.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Colonic Stents Market Drivers
Rising Prevalence of Colorectal Cancer
Colorectal cancer is the third most deadly cancer, taking away millions of people’s lives. It was estimated that in 2020, over 1.9 million people fell victim to this cancer, meaning that this same number of new cases had hit the world. The increasing number of colorectal cancer cases has been compelled by the increasing aging populations, unhealthy diets, and sedentary living. As these cases of carcinoma of the colon continue increasing, so does the market for colonic stents continue to rise.
The number of patients developing colonic obstructions around the colon by tumors requiring stents will, therefore, be on the increase. These stents are used in the re-establishment of the patency of the colon in an effective and less invasive way. Thus, the increasing prevalence of colorectal cancer plays a vital role as the major growth driver for this Industry.
Technological Advancements in Colonic Stents
Technological Advancements Technological advancements have facilitated the invention of effective and minimally invasive means of colonic stenting. Emerging technologies, including self-expanding stents, covered stents, and drug-eluting stents, have been shown to improve outcomes following stent placement. Self-expanding stents are designed to fit the shape of the colon, thereby providing better accommodation and reducing the risk of migration. Covered stents are designed to resist tissue in-growth and stent occlusions, thereby providing extended patency of the stent.
Drug-eluting stents release anti-proliferative agents to suppress restenosis and improve long-term stent performance. These advancements have increased the efficiency and safety of colonic stents, which in turn has contributed to the growth of the Colonic Stents Market Industry.
Increasing Adoption of Minimally Invasive Procedures
The growing adoption of minimally invasive surgical techniques, such as laparoscopic and robotic-assisted surgery, has favored the use of colonic stents. Minimally invasive procedures offer several advantages over traditional open surgery, including reduced trauma, shorter recovery times, and improved cosmetic outcomes. Colonic stents can be effectively deployed during minimally invasive procedures to address colonic obstructions and restore bowel function.
The increasing adoption of minimally invasive surgical techniques is expected to drive the demand for colonic stents, contributing to the expansion of the Colonic Stents Market Industry.
Colonic Stents Market Segment Insights
Colonic Stents Market Stent Type Insights
Stent Type Segment Insights and Overview The Colonic Stents Market is divided into four types – self-expandable metallic stents, balloon-expandable metallic stents, covered stents, and uncovered stents. Each type has unique benefits and is suitable for specific clinical applications. Self-expandable metallic stents are widely preferred in emergency conditions and for long-term placement. In contrast, the balloon-expandable ones are suitable for short-term placement owing to their precise deployment. Covered stents are specifically designed to prevent tissue ingrowth, and their ideal usage is in stenoses, which results from malignant tumors.
Uncovered stents have better drainage and are often utilized in non-malignant strictures. Notably, in 2023, the self-expandable metallic stents constituted a market share of 45.3% owing to their ease of usage, adaptability to complex anatomies, and long-term performance. Despite a leading market share, its dominance is expected to remain stable until 2032. Currently, the balloon-expandable metallic stents segment has a share of 24.9% and is forecast to maintain a steady growth trajectory to reach 28.1%. The covered stents segment is likely to witness higher growth prospects as the demand for minimally invasive procedures is increasing in response to the escalating colorectal cancer cases.
The small size of the uncovered stents market does not mean that it does not play an unimportant role in the market. Instead, given its advantages in specific clinical applications, it is set to retain its status quo. In sum, with the rise in the prevalence of colorectal diseases, advancements in stent technology, and the deployment of minimally invasive surgical procedures, it is expected that the market will continue to grow. Self-expandable metallic stents and covered stents are likely to remain the promising segments of the market in the upcoming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Colonic Stents Market Material Insights
The Colonic Stents Market segmentation by Material includes Nitinol, Stainless Steel, Tantalum, and Polytetrafluoroethylene (PTFE). Owing to superelastic properties, biocompatibility, and resistance to kinking and compression, Nitinol dominates the market. In 2023, the Nitinol segment was estimated at USD 1.65 billion and is expected to grow to USD 2.73 billion by 2032 with a 6.2% CAGR. Due to its affordability, durability, and corrosion-resistance properties, Stainless Steel is another leading material used for colonic stents. In 2023, it was valued at USD 1.12 billion and is expected to grow to USD 1.84 billion with a 6.1% CAGR.
Tantalum and PTFE are other materials used for colonic stents, which have other advantages and particular applications. The growing demand for minimally invasive procedures and the increasing prevalence of colorectal diseases are expected to drive the growth of the Colonic Stents Market in the nearest future.
Colonic Stents Market Indication Insights
The Colonic Stents Market is segmented by indication, which includes Colorectal Cancer, Diverticulitis, Intestinal Obstruction, and Perforations. Among these, Colorectal Cancer held the largest market share of around 45% in 2023. The high prevalence of colorectal cancer, coupled with the increasing adoption of minimally invasive procedures for its treatment, is driving the growth of this segment. Diverticulitis is another major indication for colonic stents, accounting for a share of approximately 28% in 2023. The rising incidence of diverticular disease, particularly among the elderly population, is contributing to the growth of this segment.
Intestinal Obstruction and Perforations are other significant indications for colonic stents, with a combined market share of around 27% in 2023. The increasing demand for colonic stents for the management of these conditions is expected to drive the growth of these segments in the coming years.
Colonic Stents Market End User Insights
The Colonic Stents Market segmentation by End User includes Hospitals, Ambulatory Surgery Centers, and Clinics. Hospitals are major users of colonic stents, accounting for around 60% of the Colonic Stents Market revenue in 2023. The increasing prevalence of colorectal cancer and other gastrointestinal disorders is driving the demand for colonic stents in hospitals. Ambulatory Surgery Centers are also witnessing a growing demand for colonic stents. The convenience and cost-effectiveness of these centers are encouraging more patients to undergo colonic stent procedures in an outpatient setting.
Clinics are expected to contribute a significant share to the Colonic Stents Market over the forecast period. The increasing focus on early diagnosis and treatment of colorectal cancer is leading to more patients seeking care at clinics, which in turn is boosting the demand for colonic stents
Colonic Stents Market Regional Insights
The regional segmentation of the Colonic Stents Market offers insights into the market's performance across different geographic regions. North America held the largest market share in 2023, owing to the high prevalence of colorectal cancer and the presence of major healthcare providers. Europe is expected to witness significant growth due to increasing awareness about colorectal cancer screening and rising demand for minimally invasive procedures. APAC is projected to be the fastest-growing region, driven by the rising incidence of colorectal cancer and the expanding healthcare infrastructure in countries like China and India.
South America and MEA are expected to contribute to the overall market growth, albeit at a slower pace compared to other regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Colonic Stents Market Key Players And Competitive Insights
Major players in the Colonic Stents Market are constantly striving to maintain their market share, while new entrants are continuously looking for opportunities to penetrate the market. Established companies like Boston Scientific, Cook Medical, and Medtronic hold a significant portion of the market due to their strong brand presence, extensive distribution networks, and established customer base. These players continuously focus on product innovation, technological advancements, and strategic acquisitions to stay competitive. Furthermore, the leading Colonic Stents Market players are actively involved in research and development to introduce novel and improved colonic stents that cater to specific patient requirements. Collaborations and partnerships with healthcare providers and medical institutions also play a crucial role in strengthening their market position.
Cook Medical, a leading player in the Colonic Stents Market industry, is renowned for its innovative and comprehensive portfolio of colonic stents. The company's commitment to research and development has led to the creation of advanced stent designs and materials that address diverse clinical needs. Cook Medical's extensive distribution network and strong relationships with healthcare professionals allow for effective market penetration and customer reach. Additionally, the company's focus on patient-centric solutions and personalized treatment approaches contributes to its continued success in the global market.
Medtronic, another prominent player in the Colonic Stents Market, has established a strong reputation for its cutting-edge medical devices and technologies. The company's colonic stents are designed with precision and durability, catering to the specific anatomical challenges of the colon. Medtronic leverages its global presence and established distribution channels to reach a wide range of healthcare providers. Furthermore, the company's commitment to clinical research and ongoing product development ensures that its colonic stents meet the evolving needs of patients and healthcare professionals alike.
Key Companies in the Colonic Stents Market Include
- Abbott Laboratories
- Zimmer Biomet Holdings, Inc.
- Boston Scientific Corporation
- Merit Medical Systems, Inc.
- Stryker Corporation
- AngioDynamics, Inc.
- Johnson Johnson Services, Inc.
- Conmed Corporation
- Edwards Lifesciences Corporation
- Olympus Corporation
- Cook Medical LLC
- Braun Melsungen AG
- Medtronic PLC
- Teleflex Incorporated
Colonic Stents Market Industry Developments
The Colonic Stents Market is poised to expand significantly over the forecast period of 2024-2032. The market is anticipated to reach a valuation of USD 6.93 billion by 2032, exhibiting a steady CAGR of 6.0% during the forecast period. The increasing prevalence of colorectal cancer and other colonic diseases is a primary driver of market growth. Technological advancements in stent design, such as the development of self-expanding and bioabsorbable stents, are further contributing to market growth. Furthermore, rising investments in healthcare infrastructure and the growing adoption of minimally invasive procedures are creating favorable conditions for market expansion.
Colonic Stents Market Segmentation Insights
- Colonic Stents Market Stent Type Outlook
- Self-expandable Metallic Stents
- Balloon-expandable Metallic Stents
- Covered Stents
- Uncovered Stents
- Colonic Stents Market Material Outlook
- Nitinol
- Stainless Steel
- Tantalum
- Polytetrafluoroethylene (PTFE)
- Colonic Stents Market Indication Outlook
- Colorectal Cancer
- Diverticulitis
- Intestinal Obstruction
- Perforations
- Colonic Stents Market End User Outlook
- Hospitals
- Ambulatory Surgery Centers
- Clinics
- Colonic Stents Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2022
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3.87(USD Billion)
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Market Size 2023
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4.1(USD Billion)
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Market Size 2032
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6.93(USD Billion)
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Compound Annual Growth Rate (CAGR)
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6.0% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Abbott Laboratories, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Merit Medical Systems, Inc., Stryker Corporation, AngioDynamics, Inc., Johnson Johnson Services, Inc., Conmed Corporation, Edwards Lifesciences Corporation, Olympus Corporation, Cook Medical LLC, B. Braun Melsungen AG, Medtronic PLC, Teleflex Incorporated
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Segments Covered
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Stent Type, Material, Indication, End User, Regional
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Key Market Opportunities
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Increasing colorectal cancer incidence technological advancements rising geriatric population growing awareness of minimally invasive procedures expanding healthcare infrastructure
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Key Market Dynamics
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Rising demand for minimally invasive procedures, technological advancements, increasing prevalence of colorectal cancer, growing geriatric population and expanding healthcare infrastructure
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The Colonic Stents Market is estimated to reach USD 6.93 Billion by 2032, exhibiting a CAGR of 6.0% from 2024 to 2032.
North America is expected to dominate the Colonic Stents Market throughout the forecast period, owing to the high prevalence of colorectal cancer and the presence of well-established healthcare infrastructure.
Rising incidence of colorectal cancer, increasing demand for minimally invasive procedures, and technological advancements in stent design are the key growth drivers of the Colonic Stents Market.
Colonic Stents are primarily used for the treatment of colorectal cancer, palliation of malignant colonic obstruction, and bridging colonic anastomoses.
Key competitors in the Colonic Stents Market include Boston Scientific, Cook Medical, Medtronic, and Becton, Dickinson and Company.
The Asia-Pacific region is anticipated to witness significant growth in the Colonic Stents Market, with a CAGR of 7.2% during the forecast period.
Challenges faced by the Colonic Stents Market include stringent regulatory approvals, reimbursement issues, and the availability of alternative treatment options.
The Colonic Stents Market is valued at approximately USD 4.1 Billion in 2023.
Technological advancements, such as the development of self-expanding and bioresorbable stents, are expected to drive the growth of the Colonic Stents Market.
The Colonic Stents Market is projected to reach USD 6.93 Billion by 2032.
