New York, NY, April 20, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Biliary Stents Market by Material, (Metal, and Plastic), by Applications (Malignant Obstruction, Biliary Leaks, Benign Biliary Structures, Others), by End-user (Diagnostic Laboratories, Hospitals, Ambulance Surgical Centres, Speciality Clinics, Research and Academic, Institutes, Others), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”.
“According to the research report, the global Biliary Stents Market was estimated at USD 900 Million in 2019 and is expected to reach USD 1,425 Million by 2026. The global Biliary Stents Market is expected to grow at a compound annual growth rate (CAGR) of 6.78% from 2019 to 2026”.
Biliary Stents Market: Key Market Insights Overview
A stent is a type of tube inserted into a lumen or duct in the human body to maintain the passage open. Stents are used for a variety of purposes, including simple plastic and stents expandable stents. Stents of different kinds, such as vascular, coronary, and biliary stents, are used for a number of purposes. The bile duct is a long tube-like structure that transports bile fluid. Bile is a digestive enzyme that aids in the digestion of food. Through, the bile duct, bile gets secreted into the intestinal passage. Biliary stents are stents used to treat biliary disorders.
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Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Biliary Stents Market?
2) What is the market size, share of the Biliary Stents Market?
3) Who are the top market players in Biliary Stents Market?
4) What will be the future market of the Biliary Stents Market?
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Biliary Stents Market: Industry Major Market Players
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Biliary stents are used for a myriad of purposes, including biliary strictures, malignant biliary obstruction, and bile duct leakage. Biliary stents, like any other drug, are involved with a few complications, the most common of which is stent occlusion, which is the most common cause of stent failure. Biliary stents, on the other hand, have been an important tool in the treatment of malignant strictures. Biliary stents are available in both plastic and metal. Polyethylene and Teflon are used to make plastic biliary stents. These come in a range of sizes and configurations. Companies have modified stents to reduce biofilm formation and thereby increase patency time by coating them with advanced materials and designing them with a windsock distal template. Plastic stents are typically radiopaque and come with a collection of introducers. The benefits of self-expanding metal stents (SEMs) include increased stent diameter, which reduces chronic obstruction and increases patency length. Retrieval loops on some self-expanding metal stents, such as wall flex, make repositioning and removal easier after the initial placement. Covered self-expanding metal stents are currently being tested for use in benign disease. Plastic biliary stents may be used in conjunction with an introducer catheter or pusher. It can also be used separately.
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Rising Preference For Minimally Invasive Procedures
The market is growing due to an increase in preference for minimally invasive procedures, technological advances, and an increase in geriatric populations. As stated by World Health Organization, the global proportion of people aged 60 and up was 12 percent in 2015 and is projected to rise to 22 percent by 2050. Thus, the global geriatric population was 900 million in 2015, and it is expected to reach 2 billion by 2050. Besides, rising public recognition and competition for bioresorbable stents are propelling the market forward. Post-operative complications and strict government approval legislation are expected to limit the market growth. Also, key market players are pursuing a variety of initiatives, including alliances and joint ventures. Cook Medical, signed a definitive partnership with Taewoong Medical in June 2018 to sell its current line of metal stents in the United States. Through the Scope Esophageal Stent, the Niti-S would be the product line of Taewoong's Niti-S line of metal gastrointestinal stents, is included in this new collaboration. Q3 Medical Devices Limited and Medtronic Plc signed a distribution deal for AECHIMEDES, biodegradable biliary and pancreatic stent, in May 2019. This stent was developed as a replacement for conventional plastic biliary stents. This exclusive deal aims to distribute stents in Japan, Western Europe, and the United States. Furthermore, during the forecast era, R&D in the field of medical instruments is expected to generate new opportunities.
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North America Region Dominates the Global Biliary Stents Market
Advancement in healthcare infrastructure and the population of people suffering from biliary disorders in North America is driving the market growth. Moreover, major players in the biliary stents market have reached agreements as a result of increasing competition and continuous technological advances. Olympus Corporation signed a definitive agreement to market MI Techs Hanarostent self-expanding metal stents. Olympus Corporation did an agreement to market its MI Techs Hanarostent metal stents in May 2018. Both Hanarostent esophagus stents and Hanarostent biliary have received FDA 510(k) clearance. Through this exclusive deal, the company distributed MI tech to its existing distribution network in the United States. Besides, there have been significant product advancements in the industry. Citing an instance, the AXIOS Stent and Delivery System was introduced by Boston Scientific in March 2016. It is a minimally invasive endoscopic system for the treatment of pancreatitis complications. Xlumena, which was purchased by Boston Scientific Corporation in 2015, developed these instruments. Asia Pacific region is expected to register the highest CAGR over the forecast period. India and China are the main contributors. The Chinese population's changing lifestyle and eating habits are increasing the risk of biliary diseases, including biliary tract cancer. The demand for biliary stents in China will expand as a result of the aforementioned reasons, as well as the increasing adoption of advanced technologies.
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The global biliary stents market is segmented as follows:
By Material:
By Applications:
By Application:
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