Gastrointestinal Stents Market is Expanding at a CAGR of 4.4% for Period Between 2017 and 2025

A report by Transparency Market Research forecasts the global gastrointestinal stents market to expand at a CAGR of 4.4% between 2017 and 2025. At this pace, the market will display an opportunity of US$522.8 mn in 2025 in terms of revenue rising from US$356.7 mn in 2016. Some of the key factors driving the global gastrointestinal stents market are increasing incidence of gastrointestinal diseases and increasing preference of patients for minimally invasive procedures. Gastrointestinal diseases are rising at an alarming rate and are affecting millions of people worldwide. For example, the American Cancer Society estimates approximately 93,000 new cases of colon cancer and approximately 40,000 new instances of rectal cancer are detected every year in the U.S. Gastrointestinal stents are increasingly becoming being preferred by patients due to the several advantages they provide over conventional surgeries in terms of reduced blood loss, reduced chances of infection, shorter hospital stay, and quick recovery. For these reasons, gastrointestinal stents are increasingly being used, especially in the field of oncology.

Browse Report Details@ https://www.transparencymarketresearch.com/gastrointestinal-stents-market.html

From a geographical standpoint, North America and Europe lead the market in terms of market share. The North America market is primarily powered by the U.S., which held a massive 94.0% of the market in 2016 on account of a large population diagnosed with gastrointestinal diseases, technological advancements, extensive R&D practices, and increasing awareness about the treatment and management of gastrointestinal diseases.
In the coming years, while Europe is expected to display declined growth, Asia Pacific is expected to display the leading CAGR over the forecast period. India, Japan, and China are the key countries contributing to the growth of this regional market. Favorable regulations, new product launches, acceptance of advanced technology, and rising awareness are expected to underpin robust growth in the region over the forecast period.

The global gastrointestinal stents market has been envisaged by a recent publication by Transparency Market Research, which characterizes the market to be highly consolidated. Boston Scientific Corporation dominates the market that held 66.2% share in 2016. The market, however, features fragmentation due to the presence of several small scale and large scale players that operate regionally as well as in global markets.
“Expansion through mergers and acquisitions is the key growth strategy that companies in the market are focused on in order to bolster their positions,” says the author of the report. They are also looking to expand their share with new product development and product portfolio expansion.

Report Overview, with TOC - https://www.transparencymarketresearch.com/report-toc/22916

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