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Gastrointestinal Stents Market Industry Global Market Size, Analysis, Trends, Growth and 2017-2025 Forecast

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April 21, 2017 in Health

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Gastrointestinal Stents Market Industry Global Market Size, Analysis, Trends, Growth and 2017-2025 Forecast

Gastrointestinal stents are used to open up bile ducts, esophagus, small bowel, and colon that may be diseased or infected. These stents are used in different diseases such as colorectal cancer, inflammatory bowel disease, and other gastrointestinal diseases. Stents can hold open strictured areas in the esophagus, the biliary tree, the colon and the gastroduodenal region. Different types of gastrointestinal stents are used based on disease condition. Bile duct stents are placed in patients with cholangiocarcinoma and their function is to allow normal drainage from the pancreas, gallbladder, and liver into the small bowel. Esophageal stents are used to open a patient’s esophagus and assist in swallowing food and liquid content. Duodenal stents are used to sustain content flow through a patient’s small bowel, near the top of the small intestine, when that area is blocked by cancerous tumors. Colonic stents are used to open points of stricture or narrowing in a patient’s colon when colorectal disease or cancer may be making it difficult for the patient to digest and to pass stool properly. Advanced endoscopy can be used to insert stents into various sites of the gastrointestinal tract. The basic principles of stent insertion involve initial placement of a guidewire across the region to be stented, using endoscopic vision and often fluoroscopic guidance too. Gastrointestinal stents are also placed non-endoscopically by radiologists.

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Growing preference for minimally invasive procedures, increasing prevalence of gastrointestinal diseases such as colorectal cancer, inflammatory bowel disease, and gastrointestinal bleeding, rising consumption of alcohol and tobacco, and unhealthy lifestyle are projected to fuel the global gastrointestinal stents market. According to the National Cancer Institute, the number of new cases of colon and rectum cancer was 41.0 per 100,000 men and women per year. Other factors such as growing awareness among people, technological advancement, health care insurance coverage, and rapid population growth are anticipated to augment the global gastrointestinal stents market. However, stringent regulation for product approval is expected to hamper the growth of the gastrointestinal stents market.

The gastrointestinal stents market has been segmented based on product type, application, end-user, and region. In terms of product type, the market has been classified into bile duct stents, esophageal stents, duodenal stents, and colonic stents. Based on application, the gastrointestinal stents market has been categorized into colorectal cancer, inflammatory bowel disease, gastrointestinal bleeding, and others. In terms of end-user, the market has been segmented into hospitals, specialty clinics, and ambulatory surgery centers.

Geographically, the gastrointestinal stents market has been classified into North America, Latin America, Europe, Asia Pacific, and Middle East T& Africa.

North America dominates the gastrointestinal stents market due to high incidence of gastrointestinal disorders and chronic diseases such as colorectal cancer, rectal cancer, severe abdominal diseases medical conditions, and technological advancement. Colorectal cancer is the third most common cancer diagnosed in both men and women in the U.S. According to the American Cancer Society, an estimated 135,430 people will be diagnosed with colorectal cancer in the U.S. and about 50,260 people will die from the disease in 2017. Europe is the second largest market for gastrointestinal stents. The market in Asia Pacific is expected to grow at higher rate due to rising incidence and mortality of colorectal cancer, increasing prevalence of gastrointestinal diseases, health care insurance coverage, and growing health care expenditure. Latin America and Middle East & Africa will create large opportunity due to developing health care infrastructure, increasing number of private insurance coverage, and growing awareness among people.

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Major players operating in this market include Becton, Dickinson and Company, Boston Scientific Corporation, Medtronic, Inc., Cook Medical, Merit Medical Systems, Inc., Taewoong Medical Co. Ltd., and ELLA-CS, s.r.o.

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