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.
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An airway or lung stent is a type of endobronchial
prosthesis of various materials that supports and preserves the patency of an
empty tubular airway structure. Lung stents or airway stents are commonly
produced using nitinol, stainless steel, metals, hybrids, and other materials.
Market Segmentation
Based on type, the airway stent/lung stent market is
categorized into tracheobronchial and laryngeal stents. the tracheobronchial segment is expected to
account for the largest share of the airway/lung stent market.
Based on end user, the airway stent/lung stent market
is segmented into hospitals and ambulatory surgical centers. the hospitals
segment will dominate the airway/lung stents market. The growing number of
hospitals, increasing cases of lung cancer & other chronic airway diseases
treated in hospitals, growth in the healthcare sector in emerging economies,
and the increasing out-of-pocket healthcare expenditure across the globe are
the key factors driving the demand for airway/lung stents in hospitals.
Regional Analysis
North America is estimated to account for the largest share
of the airway/lung stent market, followed by Europe. The dominant share of
North America is attributed mainly to the presence of several large hospitals,
robust healthcare infrastructure, rising prevalence of diseases, growing
geriatric population, and the rising healthcare expenditure.
Key Market players
The key players operating in the airway stent/lung stent
market include Boston Scientific Corporation (US), Taewoong Medical Co., Ltd.
(South Korea), Micro-Tech (Nanjing) Co., Ltd. (China), Novatech SA (France),
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), among others.
Expected Revenue Growth:
[164 Pages Report] The lung stent market is projected to
reach USD 120 million by 2024 from USD 87 million in 2019, at a CAGR of 6.7%.
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.