Airway Stent and Lung Stent Market Overview
The global airway stent and lung stent market is expected to grow at 7.8% CAGR from 2023-2030. It is expected to reach above USD 171.28 million by 2030 from USD 106.25 million in 2023.
A lung stent is a type of endobronchial prosthesis that is made up of different materials that help support and preserves the elasticity of the tubular airway structure. Airway and lung stents are typically made from stainless steel, nitinol hybrid, metal and various other materials.
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The increasing frequency of respiratory diseases and lung cancer is one of the primary reasons that are expected to drive the demand and growth for airway stents as well as lung stents. Additionally, the increasing use of treatments like the endoscopic treatment, bronchoscopy and chemotherapies as a result of an increase in the age of the population and the high incidence for lung cancer are expected to be a major factor in the global market growth during the forecast time.
The growing demand for less invasive procedures and the rapid growth in the field of healthcare, are expected to further accelerate the growth of the market. In addition, the growing rate of COPD and post-tuberculosis stainosis and the substantial investments by private and public companies in the creation of non-vascular stents are likely to drive the growth of the lung stent and airway stent market.
The growing demand for customized lung stents, the rapid advancement of biodegradable and drug-eluting lung stents and the possibility of printing 3D lung stents is expected to offer significant growth opportunities for the airway-stent and lung stent market throughout the anticipated time.
However, the declining smoking tobacco and the ease of access to alternatives to treatment are likely to slow the expansion of the airway stent and lung stent markets while the numerous complications that come with stents as well as the absence of medical professionals who can perform the procedure are likely to slow the growth of the airway-stent and lung market for stents.
With the growing prevalence of respiratory and lung diseases and the increasing demand for less surgery the lung stent and airway stent market is expected to grow in a steady manner. This will result in a less hospital stay as well as less discomfort following surgery. A lot of people around the globe prefer invasive procedures due to the convenience of minimally invasive surgery that add an added value to the market.
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Market Dynamics
The main factors that drive the worldwide airway stent/lung market are the rising demands for airway-stents, due to rising incidences of respiratory ailments like COPD as well as malignant airway stenosis. There are also technological advances and new products that are launched.
The growing acceptance of minimally-invasive procedures and innovative technological advances are likely to propel the growth of this market.
The airway stent/lung stent market is driven by various factors such as rising advancements in technology, an increase in the geriatric population, a surge in research and development investments, rising adoption of minimally invasive procedures by people, an increasing number of respiratory disorders such as central airway obstruction, tracheobronchomalacia and COPD, and improvements in novel products using the latest technology along with improvements in medical infrastructure in emerging markets.
The lung stent/airway stent can be used to give protection for the airway walls against external compression. Because of COVID the government began fundraising various funds and initiatives to meet the need for airway stents/lung stents. These funds will assist in the development of all the essential medical products. The demand for these products is expanding globally because of the increasing prevalence of respiratory illnesses. Additionally, the accessibility of products that are technologically advanced by major players is likely to play an important contribution to the growth of this market.
Numerous new products and research studies aid in the growth of the market. For example, on September 20 in 2022 Getinge along with Medtronic announced a supply partnership for a covered stent called Radiant that recently was granted an CE certification. The stent is also referred to in the form of Advanta V12 balloon expandable covered stent, which is designed by Getinge and distributed by Medtronic. Medtronic products offer advantages over Getinge Stent collection (Atrium Medical).
Complications arising from lung stents or airway Stents are predicted to hinder the growth of the market. Various complications and side effects after using airway stent/lung stents have been observed, such as bronchoscopy-associated complications due to the placement or sizing technique of the stents.
Numerous long-term complications associated with stents such as stent migration as well as infections, mucus blockage obstructions caused by tumors, and fractures were noted. These problems are due to mucociliary clearance, excessive size of stents, coverings or dynamic movement of the airway during respiration are among the main causes that are hindering the development of the stent for airway and lung market.
Recalls of products are a frequent other reason that may hinder the growth of markets. For example on June 03 in 2022, Getinge (Atrium Medical) Recalled about 69.000 covered stents with iCast in across the U.S. due to several complaints. FDA classified it as a the category I event.
Airway Stent and Lung Stent Market Segment Analysis
The lung and airway stents market is classified into 4 categories: Type material, type of product, and final user. These segments are growing and will help you to analyze weak growth segments within the industry, as well offering users with crucial overviews of the industry and market information to help them make crucial decisions to determine the nature of market-leading applications.
The lung stent and airway stent market is segmented into two categories that include tracheobronchial stents as well as larynge stents. The airway stents and lung stent market is segmented into three types of products including self-expandable and balloon-expandable stents that are not expandable, and balloon-ex stents. The lung and airway stent market is segmented into three distinct segments based on materials: metal stents silicone stents, as well as hybrid stents. Metal stents can be further classified into nitinol, steel, and other. The lung stent for airways and market is segmented into ambulatory surgery centers, hospitals centers, and other according to the end-users.
Silicon stents are great for maintaining the airway's integrity as well as bringing high tolerance, and sometimes life-threatening problems. In comparison to other stents constructed of different materials, they are less dangerous, cost-effective, and simpler to manage. Silicon stents are offered with balloon expandable and balloon-expandable models.
The stents have proved to be very beneficial in patients suffering from benign or cancer-related restrictive tracheobronchial tubes. The projected time frame for the demand for silicon stents is anticipated to increase. Silicone stents are more suitable since they are less difficult to take off and are less likely to impede the outcome of a subsequent surgery.
Airway Stent and Lung Stent Market Players
There are a number of key players in the Airway Stent and Lung market's major players are, among others.
- HOOD LABORATORIES
- Olympus
- Medtronic
- L. Gore & Associates Inc.
- Kapitex Healthcare Ltd.
- Meditek Systems Pvt. Ltd.
- Stening
- Teleflex Incorporated
- Thoracent Inc.
- Boston Scientific Corporation
- BD
- TAEWOONG and MICRO-TECH EUROPE
- Cook
- Merit Medical Systems
- Novatech SA
- ENDO-FLEX GmbH M.I.TECH
- Fuji Systems
Recent Developments:
- June 2023 - After purchasing London-based Odin Vision, a worldwide MedTech firm dedicated to making people's lives better, safer, and more satisfying, announced its intention to construct a network of Digital Excellence Centers (DECs). Odin Vision was a cloud-AI endoscopy firm with a robust portfolio of commercially accessible computer-aided detection/diagnostic technologies and a cloud-enabled application innovation pipeline.
- May 2023 - Olympus Corporation (Olympus), a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, announced today the FDA approval of the new EVIS X1 endoscopy system, as well as two compatible gastrointestinal endoscopes: the GIF-1100 gastrointestinal video scope indicated for use within the upper digestive tract, including the esophagus, stomach, and duodenum, and the CF-HQ1100DL/I colon video scope.
- February 2023 - Olympus Corporation (Olympus), a global MedTech company dedicated to making people's lives healthier, safer, and more fulfilling, has agreed to acquire Taewoong Medical Co., Ltd (Taewoong Medical), a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents1, to strengthen its GI Endo Therapy product portfolio capabilities, thereby contributing to improved patient outcomes through comprehensive solutions.
Airway Stent and Lung Stent Market Regional Analysis
Due to the increased rate of airway-lung illnesses and the existing healthcare system, as well as the financial environment for reimbursement of medical devices like Stents North America is expected to grow in the airway stent/lungstent market. Based on the Cancer.Net 2022 report the estimated number of people living in the United States (117,910 men and 118,830 females) will get diagnosed with cancer of the lung by 2022.
In addition 317 Canadians have been diagnosed as newly diagnosed with asthma each day, according to Asthma.ca the annual reports for 2021. Based on the exact same report source, asthma is affecting greater than 3.8 millions Canadians as the 3rd most prevalent chronic illness.
Additionally, numerous research projects with airway stents have been carried distributed throughout the region. According to UMMC's study 2022, the stent is custom-fitted to allow patients to breathe easier. A 3D-printed silicone stent has been placed inside a patient's lung split, connecting the left bronchus main to the lower and higher respiratory bronchi in the lung to which provide oxygen to the lungs of the patient.
The presence of numerous companies across the country that manufacture lung stents and airways is an essential aspect that is responsible for the massive market size. For instance, Alaxo Airway Stents (Alaxo) has expanded its reach across North America in March 2021 through a partnership in partnership with Portage College in Alberta, Canada.
Segments Covered in Airway Stent and Lung Stent Market :
Airway Stent and Lung Stent Market by Type
- Tracheobronchial Stents
- Laryngeal Stents
Airway Stent and Lung Stent Market by Product Type
- Self-Expandable Stents
- Non-Expandable Stents
- Balloon-Expandable Stents
Airway Stent and Lung Stent Market by Material
- Metal Stents
- Silicon Stents
- Hybrid Stents
Airway Stent and Lung Stent Market by End-User Industry
- Ambulatory Surgery Centers
- Hospitals
Airway Stent and Lung Stent Market by Region
- North America
- Asia Pacific
- Europe
- South America
- Middle East and Africa
Frequently asked questions with answers
What is the worth of the global airway stent and lung stent market?
Airway stent and lung stent market is expected to grow at 7.8% CAGR from 2023-2030. It is expected to reach above USD 171.28 million by 2030 from USD 106.25 million in 2023.
What are some of the market's driving forces?
A lung stent is a form of endobronchial prosthesis made of various materials that support and maintains the patency of the void tubular airway structure. Lung and airway stents are often made of nitinol, stainless steel, metal, hybrid, and other materials.
Which are the top companies to hold the market share in the airway stent and lung stent market?
The Airway Stent and Lung market’s key players include HOOD LABORATORIES, Olympus, Medtronic, W. L. Gore & Associates Inc., Kapitex Healthcare Ltd., Meditek Systems Pvt. Ltd., Stening, Teleflex Incorporated, and Thoracent, Inc., Boston Scientific Corporation, BD, TAEWOONG, MICRO-TECH EUROPE, Cook, Merit Medical Systems, Novatech SA, ENDO-FLEX Gmbh, M.I.TECH, Fuji Systems, Among Others.
What is the leading application of the airway stent and lung stent market?
The increased demand for customized lung stents, the fast development of biodegradable and drug-eluting lung stents, and the 3D printing of lung stents are expected to provide substantial growth possibilities for the airway stent and lung stent markets throughout the projected period.
Which is the largest regional market for airway stents and lung stent market?
The Market’s largest share is in the North American region.
