Airway/Lung Stent Market to be worth a US$0.1 bn by 2026
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Universities and companies around the world are entering into a partnership for product innovation and cost-effective methods. A removable stent for use in blood vessels created by a professor at Norwegian University of Science and Technology in 2015, has also shown potential in the respiratory tract, completely revolutionizing the treatment for patients facing breathing issues due to narrow airways. End users are specially focusing on the selection of stent type and size to avoid complications including granulation tissue formation, migration, and airway perforation. The diameter and stent length is selected based on bronchial or tracheal size.
Some of the key players in the global airway/lung stent market are Zeus Industrial Products Inc., W. L. Gore & Associates, Inc., Compagnie de Saint-Gobain SA (Saint Gobain Performance Plastics), Mexichem S.A.B. de C.V., The Chemours Company, Honeywell International, Inc., Daikin Industries Ltd., 3M Company, Asahi Glass Co. Ltd., Solvay SA, and E.I. Dupont DE Nemours & Company
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North America to Remain Dominant in the Global Airway/Lung Stent Market
North America is expected to dominate the global airway/lung stent market during the forecast period. As per the American Cancer Society estimation, in 2017 around 222,500 new cases of lung cancer were found in the U.S. alone, thereby driving the market growth. Selection of airway stents is very limited in the U.S. Two basic types used are self-expandable metallic nitinol stents and silicone-based tubes, and the size range is also limited. Hence, 3D printing is emerging as a new technology in designing and developing stents as per the patient requirement. Presence of a large number of lung stents manufacturers in North America and rapid adoption and development of innovative products are also resulting in the growth of airway/lung stent market in North America.
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Global Airway/Lung Stent Market to Witness Steady Growth during the Forecast Period 2017-2026
As per the report by Transparency Market Research (TMR), the global airway/lung stent market is expected to witness steady growth. The market is projected to increase to 5.7% CAGR during the forecast period. The global airway/lung stent market is also projected to reach US$ 130.4 million revenue.
The global airway/lung stent market is segmented into end user, material type and product. Based on product, the market is segmented into non-expandable, balloon-expandable, and self-expandable. Self-expandable airway/lung stent is expected to witness growth in the market during the forecast period.
Based on the end user, hospitals are expected to be the largest users of airway/lung stents in the global airway/lung stent market during 2017-2026. By material type, the market segment includes hybrid, silicone, and metal. Among these, metal is expected to be the highly preferred material for airway/lung stent.
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