Shifting Consumer Preferences Fuel Global Pancreatic and Biliary Stents Market Expansion
Pancreatic and Biliary Stents Market Set to Reach USD 511.47 Million by 2031, Growing at a CAGR of 4.7%
According to SNS Insider, the global Pancreatic and Biliary Stents Market was valued at USD 354.2 million in 2023 and is projected to reach USD 511.47 million by 2031, growing at a compound annual growth rate (CAGR) of 4.7% over the forecast period from 2024 to 2031. The increasing prevalence of pancreatic and biliary disorders, combined with advancements in stent technology, is expected to drive significant growth in the market.
Market Overview
Pancreatic and biliary stents are medical devices used to treat obstructions in the pancreatic and bile ducts. These obstructions can be caused by various conditions such as tumors, gallstones, or chronic pancreatitis. Stents help restore the normal flow of bile and pancreatic secretions, providing relief from symptoms and improving patient outcomes. With the rising incidence of gastrointestinal and pancreatic disorders, the demand for pancreatic and biliary stents is expected to grow steadily.
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Key Market Drivers
Increasing Prevalence of Pancreatic and Biliary Diseases: The growing incidence of conditions such as biliary strictures, pancreatic tumors, and chronic pancreatitis is a key driver for the market. These conditions often require stent placement to alleviate symptoms and restore proper duct function.
Advancements in Stent Technology: Innovations in stent materials, including self-expanding and biodegradable stents, are improving the safety and effectiveness of these devices. Technological advancements are also enhancing the ability to customize stents for individual patients, contributing to greater adoption.
Growth in the Geriatric Population: As the global population ages, the prevalence of pancreatic and biliary diseases is increasing, particularly in elderly patients. This is expected to boost demand for stenting procedures as a minimally invasive treatment option.
Rising Demand for Minimally Invasive Procedures: The growing preference for minimally invasive treatments, such as endoscopic stent placement, is driving market growth. These procedures offer benefits such as shorter recovery times, reduced hospital stays, and fewer complications, making them increasingly popular among healthcare providers and patients.
By Product Type
Metal Stents
Plastic Stents
By Applications
Bilio-pancreatic leakages
Pancreatic Cancer
Benign Biliary strictures
Others
By End Users
Hospitals
Ambulatory Surgical Centers
Speciality Clinics
Others
KEY PLAYERS:
Some of the major key players are Boston Scientific Corp, Becton Dickinson and Co, ConMed Corp, Hobbs Medical Inc Medtronic Plc, Olympus Corp, Hellman & Friedman LLC., Cook Group Inc, W. L. Gore & Associates Inc, and other players.
Conclusion
The pancreatic and biliary stents market is expected to witness steady growth, driven by the rising incidence of pancreatic and biliary disorders, advancements in stent technologies, and the increasing preference for minimally invasive procedures. As healthcare providers continue to adopt new technologies and improve treatment outcomes, the market presents significant opportunities for key players.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
- PEST Analysis
8 Pancreatic and Biliary Stents Segmentation, By Product Type
9. Pancreatic and Biliary Stents Segmentation, By Applications
10. Pancreatic and Biliary Stents Segmentation, By End Users
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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