High prevalence of biliary diseases, technological advancements associated with biliary stents and surge in demand for minimally invasive procedures have spurred the growth
PORTLAND, Oregon, April 4, 2019 /PRNewswire/ --Allied Market Research recently published a report, titled, "U.S. Biliary Stents Market by Type (Metal Biliary stents, and Plastic Biliary stents), Application (Malignant Obstruction, Benign Biliary Strictures, Biliary Leaks, and Others), and End User (Hospitals, and Ambulatory Surgical Centers): Opportunity Analysis and Industry Forecast, 2018 – 2025. The report states a detailed analysis of drivers & opportunities, evolving market trends, viable landscape, important market segments, and market size & valuations. According to the report, the U.S. biliary stents market was estimated at $316 million in 2017 and is expected to hit $474 million by 2025, growing at a CAGR of 5.2 % from 2018-2025.
High prevalence of biliary diseases, technological advancements associated with biliary stents and surge in demand for minimally invasive procedures have spurred the growth. On the other hand, several complications and high costs associated with biliary stents have restrained the market. However, development of innovative smartphone applications have paved the way for multiple opportunities in the segment.
Metal biliary stents to maintain its dominance during the forecast period
By type, metal biliary stents accounted for more than three-fifth of the total market in 2017 and is anticipated to dominate throughout the forecast period. The wide application of specialized metal stents such as self-expandable metal stents (SEMs) in treatment of biliary comorbidities have fueled the growth of the market. The plastic biliary stents segment is expected to grow at the highest CAGR of 5.8% till 2025. This is due to the cost-effectiveness associated with the product.
Biliary Leaks to dominate the market based on application
By application, biliary leaks held the lion share, contributing to three-fifth of the total market in 2017. The fact that biliary leaks are one of the most common modalities that are treated using stents has made the segment come out as the largest revenue contributor to the market.
Hospitals to have the largest market segment by 2025-
Based on end-user, the hospitals segment accounted for more than two-third of the market in 2017 and is anticipated to lead during the period 2018-2025. The availability of trained medical staff in hospitals helps provide better services to the patient which, in turn, has contributed toward the growth of the market. Ambulatory surgical centers has garnered the highest CAGR and this is due to increase in the number of ASCs in the U.S. along with the fact that they provide cost-effective services as well as a convenient environment for surgery.
Key market players-
The key players analyzed in the report include Boston Scientific Corporation, Cook Medical, Abbott Laboratories, Conmed Corporation, Becton, Dickinson and Company. Olympus Corporation, B. Braun Melsungen AG, Medtronic plc, Terumo Corporation, and Merit Medical. The top-end strategies they adhere to have helped them cling onto their top status in the market. The other players comprise Biosensors International Group, Ltd., Taewoong Medical Co., Ltd., and others.
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