The increasing prevalence of chronic diseases and advancements in technology and increasing demand for minimally invasive procedures are anticipated to boost the Home Insemination market during the forecast period 2021-2026. Non-Vascular Stents Market size is forecast to reach $1,652.7 million by 2026, growing at a CAGR of 3.2% during the forecast period 2021-2026
The Non-Vascular Stents market is growing at a significant rate owing to its increasing applications such as oesophageal, biliary, colonic, tracheal, and bronchial implantation. Non-vascular stents offer faster recovery with reduced pain and are increasingly being used in various applications, such as in the treatment of pulmonary, urological, and gastrointestinal diseases. They are usually utilized for making a pathway in the vessels of the body.
Conditions such as chronic obstructive pulmonary disease, central airway obstruction, and asthma need the use of pulmonary stents, to open up narrowed airways and ease the respiration process. According to WHO, more than three million people die each year from the chronic obstructive pulmonary disease worldwide, and 90% of these deaths in low and middle-income countries. Increasing advancements in technology and material are aiding in the development of specially designed stents for use in various indications. The development of biodegradable polymers and bio-absorbable scaffolds is increasing the use of stents in pulmonary, gastrointestinal, urological, and biliary structures. Obstructions within the ureter necessitate stenting procedures to alleviate the blockage or provide a shunt for fluid drainage. Ureteral stents are commonly used to alleviate obstruction in cases of nephrolithiasis (kidney stones), tumours, strictures, or retroperitoneal fibrosis. Nitinol is increasingly being utilized in non-vascular self-expandable stents, as it offers super-elasticity and therefore is beneficial to the stent placement in difficult segments of an internal tract. It is associated with faster recovery time, thus reducing a patient’s hospital stay. Furthermore, reduced hospital stay, in turn, is expected to lower the risk of contracting hospital-acquired infections such as bloodstream infection, and urinary tract infection among patients.
North America dominated the global market share of non-vascular stents market in 2020 owing to the increasing incidences of carcinoma eye disease, central airway construction, and alternative chronic diseases. It is an essential component of the armamentarium of the general and pediatric surgeon to know about abdominal wall hernias and protrusions along with the robust healthcare infrastructure. Owing to the significantly increased risk of morbidity and mortality, resulting in the need for gastrointestinal stents, increasing rates of emergent incisional hernia repair are concerning in the region. All these factors are set to avail new growth opportunities to the home insemination market in the region during 2021-2026.
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Non-Vascular Stents Market Growth Drivers:
- Increasing incidences of chronic diseases
Chronic diseases are those diseases that persist over a long period and can hinder interdependence and the health of people with disabilities and can create additional activity limitations. Chronic obstructive pulmonary disease (COPD), central airway obstruction, and asthma demand the utilization of pulmonary stents, to open up narrowed airways and ease the respiration process. Gastrointestinal diseases are a major problem and cover a wide variety of parts of the rectum, intestines, duodenum, and esophagus. Palliation with the use of non-vascular stents can treat such type of diseases.
- Increase in the adoption of minimally invasive surgeries
Minimally invasive surgeries are increasing since it is performed through tiny incisions instead of a large opening and have a quicker recovery time and less pain than traditional open surgery but benefits are same as that of the traditional surgery. Minimally invasive surgery can also take longer than traditional open surgery. However, the advantages of minimally invasive surgery significantly outweigh the disadvantages.
In July 2020, Medtronic acquired Medicrea, a fully-dedicated spinal implant company focused on introducing reliable and innovative technologies to the global marketplace.
The Major Players in this Market Include
The major companies in the Non-Vascular Stents market include Medtronic, Boston Scientific Corporation, C.B. Bard, ELLA-CS, S.R.O., EndoChoice, Merit Endotek, Glaukos Corporation, Synchron Med Inc., and Cook Medical among others.
Over the years, major market players have focused on different stents that were typically used in surgeries. The launch of new market companies, adequate funding, and government-aided policies help in the development of non-vascular stents products. The continuous developments in the Non-Vascular Stents Market such as advanced technologies, increasing funding number of start-ups and research organizations, and surge in the number of product and non-vascular stents products approvals by Food and Drug Administration (FDA) are the major factors set to drive the Non-Vascular Stents market during the forecast period 2021-2026.
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