Factors such as the rise in the prevalence of lung cancer & chronic respiratory diseases and the growing preference of minimally invasive procedures are expected to drive the growth of the airway/lung stent market. The need for customized lungs stents and the ability to currently print the stents using 3D printing techniques are expected to create growth opportunities for this market.
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The global airway stent/lung stent market is projected to reach USD 120 million by 2024 from USD 87 million in 2019, at a CAGR of 6.7%. In 2018, Boston Scientific Corporation (US) and Novatech SA (France) ranked as the top two players in the airway stent/lung stent market.
Boston Scientific Corporation (US) dominated the airway stent/lung stent market in 2018. Pulmonary/airway/lung stents such as Ultraflex, Dynamic, and Polyflex offered by Boston Scientific has set a benchmark in the market. Boston Scientific achieved significant growth in 2018 compared to 2016, owing to its strong growth in product development and increasing success in gaining market approvals. The company has a strong presence in over 40 countries across North America, Europe, the Asia Pacific, and the Middle East & Africa. The company is also focused on expanding its business in emerging markets through the development of distribution networks in countries such as India, China, and Latin America.
Some of the other players competing in this market are Taewoong Medical Co., Ltd. (South Korea), Micro-Tech (Nanjing) Co., Ltd. (China), Boston Medical Products, Inc. (US), E. Benson Hood Laboratories, Inc. (US), Merit Medical Systems, Inc. (US), Cook Group (US), EFER ENDOSCOPY (France), ENDO-FLEX GmbH (Germany), Standard Sci. Tech Inc. (South Korea), and Stening SRL (Argentina).
- Taewoong Medical (South Korea) partnered with Cook Medical (US) to distribute Taewoong’s product portfolio in the US market.
- Merit Medical Systems, Inc. (US) held a worldwide distribution agreement with NinePoint Medical, Inc (US) to market Merit’s gastrointestinal and pulmonary medical devices.
- Micro-Tech (Nanjing) Co., Ltd. inaugurated a wholly-owned subsidiary in the US, Micro-Tech USA, Inc.
Key Questions Addressed in the Report
- Who are the top 10 players operating in the airway stent/lung stent market?
- What are the drivers, restraints, opportunities, and challenges in the airway stent/lung stent market?
- What are the reimbursement policies for airway stent procedures?
- What are the industry trends as well as the current scenario in the airway stent/lung stent market?
- Comment on the regulatory scenario for airway/lung stents in various geographies.
- What are the growth trends in the airway stent/lung stent market at the segmental and overall market levels?
Airway Stent/Lung Stent Market by Type (Tracheal, Bronchial, Laryngeal Stent), Product (Non-Expandable, Self-Expandable Stents), Material (Metal (Nitinol, Stainless Steel), Silicone, Hybrid), End User (Hospitals, ASCs) - Global Forecast to 2024