ALBANY, New York, January 23, 2018 /PRNewswire/ --
Global Airway/Lung Stent Market: Growing Acceptance of Minimally Invasive Procedures, Incidences of Lung Cancer Elevate Demand
The global airway/lung stent market, as prognosticated by TMR, could grow at a 5.7% CAGR between 2017 and 2026 to be worth a US$0.1 bn approximately by the completion of the forecast tenure. In terms of product, the market could be divided into different segments, out of which self-expandable has been predicted to rank higher as it reaches a valuation of US$0.1 bn by the end of 2026. Geographically, North America could take a commanding position in the market on the basis of revenue.
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Lifesaving Functionality Helps Airway/Lung Stent to Develop its Prominence
The world airway/lung stent market has been foreseen to attain growth on the back of a growing preference for minimally invasive procedures, escalating number of lung cancer cases around the globe, and the aggressive increase in the size of geriatric population. Airway/lung stent has been gaining a whole lot of significance due to its lifesaving functionality as it lowers the risk of heart attack. While this could lead to a strong growth in the market, the advent of new products as a result of the advancement in technology has been projected to help vendors to extend their reach in the industry.
Today, device manufacturing involves the usage of 3D printing which has experienced a swift development in the recent time. Consequently, 3D printing has been extensively used by clinicians and researchers. This could be evident with the organized development of 3D printed drug-coated and patient-specific stents executed by researchers at ETH Zurich, the University of Hospital Zurich, and the University of Zurich.
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Alternative Treatments Bench Airway/Lung Stent while Weakening Adoption
On the negative side of growth, the international airway/lung stent market has been envisaged to be vulnerable as the adoption of stents suffers a decline due to the presence of substitute treatments. For instance, end-to-end anastomosis, tracheostomy cannula, laryngofissure creation, anterior cricotracheal resection, and steroid regimen could be used as substitute treatments for tracheal stenosis.
Nevertheless, players could expect lucrative business prospects to come through with university partnerships for economical methods and product innovation. Changes in stent size and type to avoid complications such as airway perforation, migration, and granulation tissue formation have been expected to draw more business in the market. North America bearing an expansive presence of stents manufacturers could also create ample of opportunities in the market.
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The global airway/lung stent market has been foreseen to witness the growing prominence of established players such as Boston Scientific Corporation which had demonstrated a substantial growth in 2016. However, according to Transparency Market Research (TMR), other companies such as Cook Medical Inc., Teleflex Inc., and C. R. Bard, Inc. could also be in the hunt of securing a major share of the market.
In the recent years, Boston Scientific has been involved in the acquisition of small and medium-sized enterprises (SMEs) to stretch its product portfolio in intervention pulmonology. This had been evident when it acquired intervention pulmonology and gastroenterology products manufacturer, EndoChoice Holdings. The company has been anticipated to sustain its stronghold in the global airway/lung stent market with the help of its brand value and innovations.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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