Biliary Stents Market Research, Analysis, segmentation, trends, size and forecasts, Competitive analysis, SWOT analysis

Biliary Stents Market Introduction –

The biliary stents market refers to the sales and use of medical devices used to open and maintain the patency of bile ducts in cases of obstruction. Biliary stents are typically made of metal or plastic and are used to treat conditions such as cancer, gallstones, and inflammatory diseases. The global biliary stents market is expected to grow in the coming years due to an increase in the number of biliary tract diseases and an aging population. Factors such as the increasing adoption of minimally invasive procedures and the development of new and advanced biliary stents are also driving market growth. The biliary stents market is segmented by product, material, application, and geography.

Biliary Stents Market Industry Analysis

The biliary stents market is a highly competitive and dynamic market, with a large number of players operating globally. The market is characterized by the presence of several large and small players, including major players such as Boston Scientific, Cook Medical, Medtronic, Olympus Corporation, and Terumo Corporation.

The market is driven by factors such as the increasing incidence of biliary tract diseases, rising adoption of minimally invasive procedures, and the development of new and advanced biliary stents. Additionally, the aging population, and the increasing awareness about the early diagnosis and treatment of biliary tract diseases are also driving the market growth.

However, factors such as the high cost of biliary stents and the lack of reimbursement in some countries are expected to hinder the growth of the market. The market is also facing challenges such as the lack of skilled professionals to perform the procedure and the lack of awareness about the availability of these products in some regions.

In terms of product, the market is segmented into metal stents and plastic stents. The metal stents segment is expected to hold a larger share of the market due to their durability and ability to withstand high pressure.

In terms of application, the market is segmented into malignant and benign biliary obstruction. The malignant biliary obstruction segment is expected to hold the larger share of the market due to the increasing incidence of cancer and the high demand for biliary stents in cancer treatment.

Geographically, the biliary stents market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America is expected to hold the largest share of the market due to the increasing incidence of biliary tract diseases and the presence of a large number of players in the region.

Overall, the biliary stents market is expected to witness significant growth in the coming years due to increasing incidence of biliary tract diseases, rising adoption of minimally invasive procedures, and the development of new and advanced biliary stents.

Biliary Stents Market Trends

The biliary stents market is constantly evolving with new trends and developments. Some of the key trends in the market include:

Adoption of self-expanding stents: Self-expanding stents are gaining popularity due to their ability to conform to the shape of the bile duct and their ease of placement. They are also associated with less pain and discomfort for the patient compared to traditional stents.
Development of bioresorbable stents: Bioresorbable stents are made of materials that dissolve over time, eliminating the need for stent removal. This eliminates the risk of complications associated with stent removal and allows for more natural healing.
Increase in demand for less invasive procedures: Minimally invasive procedures such as endoscopic retrograde cholangiopancreatography (ERCP) are becoming more popular as they have a shorter recovery time and fewer complications compared to traditional surgical procedures.
Rising focus on patient-specific stents: The market is witnessing an increase in the demand for patient-specific stents, which are designed to fit the patient’s bile duct shape and size.
Growth in emerging markets: The biliary stents market is expected to experience significant growth in emerging markets such as Asia-Pacific, Latin America, and the Middle East due to the increasing incidence of biliary tract diseases and the growing awareness about the availability of these products in these regions.
Technological Advancements: The market is witnessing an increase in the use of advanced technologies such as drug-eluting stents, covered stents, and smart stents.
Remote Monitoring: The market is witnessing an increase in remote monitoring systems which can provide real-time data on the status of the biliary stent which will help for better patient outcomes.
Increase in Mergers and Acquisitions: The market is witnessing an increase in mergers and acquisitions among the major players in the market as a strategy to gain a competitive advantage and expand their market presence.

Biliary Stents Market Size And Forecast

The biliary stents market is expected to grow at a significant rate during the forecast period, due to factors such as the increasing incidence of biliary tract diseases, rising adoption of minimally invasive procedures, and the development of new and advanced biliary stents.

According to a market research report by MarketsandMarkets, the global biliary stents market was valued at USD 1.02 billion in 2020 and is expected to reach USD 1.55 billion by 2025, growing at a CAGR of 8.4% during the forecast period.

In terms of product, the metal stents segment is expected to hold the largest share of the market due to their durability and ability to withstand high pressure. In terms of application, the malignant biliary obstruction segment is expected to hold the largest share of the market due to the increasing incidence of cancer and the high demand for biliary stents in cancer treatment.

It is important to note that these forecast figures are based on market research report by MarketsandMarkets and the actual market size and forecast might vary. Factors such as the impact of the COVID-19 pandemic on the healthcare industry, changes in government regulations and reimbursement policies, and other economic and political factors can also affect the growth of the biliary stents market.

Biliary Stents Market Share Analysis

The biliary stents market is highly competitive with a large number of players operating in the market. The market share of the key players can vary depending on the region and the product segment.

According to a market research report by MarketsandMarkets, the global biliary stents market is dominated by key players such as Boston Scientific Corporation, Medtronic, Cook Medical, C. R. Bard, Inc., CONMED Corporation, ELLA-CS s.r.o, Merit Medical Systems, Inc., Taewoong Medical Co., Ltd, and W. L. Gore & Associates, Inc.

Boston Scientific Corporation is one of the leading players in the market, holding a significant share of the market due to the company’s strong product portfolio and its presence in key markets such as North America and Europe.

Medtronic is another key player in the market, holding a significant share of the market due to the company’s strong product portfolio and its presence in key markets such as North America and Europe.

Cook Medical is another major player in the market, holding a significant share of the market due to the company’s strong product portfolio and its presence in key markets such as North America and Europe.

It is important to note that the market share of the key players can vary depending on the region and the product segment and these figures are based on the report of MarketsandMarkets and the actual market share might vary.

Biliary Stents Market Competitive Landscape

The biliary stents market is highly competitive with a large number of players operating in the market. The competitive landscape of the market is characterized by a high degree of competition among the key players, and the presence of a large number of small and medium-sized players.

Some of the key strategies adopted by the players in the market include product launches, partnerships, collaborations, and acquisitions.

Product Launches: Players in the market are constantly launching new and advanced products to expand their product portfolio and gain a competitive advantage.
Partnerships and Collaborations: Players in the market are entering into partnerships and collaborations to expand their product portfolio and gain a competitive advantage.
Acquisitions: Players in the market are acquiring other companies to expand their market presence and gain a competitive advantage.
Investing in Research and Development: The market players are investing heavily in research and development to develop new and advanced products and gain a competitive advantage.
Marketing and Promotions: Players are focusing on promoting their products through various marketing channels such as print and electronic media, and social media platforms to create brand awareness and gain a competitive advantage.
Distribution Networks: Players are focusing on expanding their distribution networks through partnerships and collaborations with local companies to increase their market presence and gain a competitive advantage.
Customer Service: Players are focusing on improving their customer service by providing training and support to customers to increase customer satisfaction and gain a competitive advantage.
Cost-Effectiveness: Players are focusing on producing cost-effective products to increase their market share and gain a competitive advantage.

It is important to note that the competitive landscape of the market can change rapidly due to factors such as changes in government regulations and policies, changes in market conditions, and other economic and political factors.

Biliary Stents Market Intelligence

Biliary stents market intelligence refers to the collection, analysis, and dissemination of information related to the market, such as market size, growth rate, trends, segmentation, competitive landscape, and key players.

Market intelligence is important for companies operating in the biliary stents market as it helps them understand the market dynamics, identify opportunities and threats, and make strategic decisions.

There are several ways to gather market intelligence, such as:

Primary Research: This involves conducting surveys, interviews, and focus groups with industry experts, market participants, and consumers to gather information about the market.
Secondary Research: This involves collecting information from published sources such as market research reports, industry publications, and government reports.
Market Intelligence Software: These are software tools that help collect, analyze, and disseminate market intelligence.
Market intelligence agencies: Hire specialized agencies that provide market intelligence and research services.

Once the information is collected, it can be analyzed using various techniques such as market segmentation, SWOT analysis, and Porter’s Five Forces analysis to gain insights into the market.

The information can be disseminated in the form of reports, presentations, and databases. It can be used by companies to make strategic decisions, such as product development, pricing, and marketing strategies.

Overall, market intelligence is an essential tool for companies to stay competitive in the biliary stents market and make informed decisions.

Biliary Stents Market Industry Trends

The biliary stents market is driven by a number of factors such as an increase in the number of patients with biliary tract diseases, the rising adoption of minimally invasive procedures, and the increasing use of self-expanding stents.

Increase in the number of patients with biliary tract diseases: The increasing prevalence of biliary tract diseases such as gallstones and cancer of the bile duct is driving the growth of the biliary stents market.
Rising adoption of minimally invasive procedures: The increasing adoption of minimally invasive procedures such as endoscopic retrograde cholangiopancreatography (ERCP) for the treatment of biliary tract diseases is driving the growth of the biliary stents market.
Increasing use of self-expanding stents: The increasing use of self-expanding stents, which are more comfortable for patients and have a lower risk of complications, is driving the growth of the biliary stents market.
Advancements in technology: The development of new and advanced stents, such as fully covered stents, with improved biocompatibility and increased resistance to migration, is expected to drive the growth of the biliary stents market.
Growing Geriatric Population: The growing geriatric population who are more prone to biliary tract diseases is expected to drive the growth of the biliary stents market.
Growing awareness and increasing healthcare expenditure: The growing awareness about biliary tract diseases and the increasing healthcare expenditure are expected to drive the growth of the biliary stents market.

However, the high cost of biliary stents and the associated procedures, the risk of complications associated with the use of biliary stents, and the lack of trained professionals are some of the factors that are expected to restraint the growth of the biliary stents market.

Biliary Stents Market Analysis

A market analysis for biliary stents involves evaluating various factors such as market size, growth rate, trends, segmentation, competitive landscape, and key players in the market.

Market size and growth rate: The market size and growth rate of the biliary stents market can be determined by analyzing data on the number of units sold and revenue generated by the market. Research shows that the global biliary stents market was valued at USD 1.21 Billion in 2020 and is expected to reach USD 1.87 Billion by 2028, at a CAGR of 5.2% during the forecast period.
Market trends: The market trends in the biliary stents market can be analyzed by studying the adoption patterns of new technologies, changes in consumer behavior, and shifts in the competitive landscape. The increasing adoption of minimally invasive procedures, the rising use of self-expanding stents, and the increasing prevalence of biliary tract diseases are some of the key trends in the biliary stents market.
Market segmentation: Market segmentation helps to understand the market by dividing it into different segments based on various criteria such as product type, application, and end-user. The biliary stents market can be segmented by product type, into plastic stents and metal stents. Plastic stents are further segmented into polyethylene stents and polypropylene stents. Metal stents are further segmented into self-expanding metal stents and balloon-expandable metal stents.
Competitive landscape: The competitive landscape of the biliary stents market can be analyzed by studying the market share, competitive strategies, and product offerings of key players in the market. Companies such as Boston Scientific, Cook Medical, Medtronic, Olympus, and C. R. Bard are some of the key players in the biliary stents market.
Key players: Key players in the biliary stents market can be identified by analyzing their market share, product offerings, and strategies. The key players in the market are focusing on product innovation and development, collaborations, and partnerships to expand their market share.

Overall, a market analysis helps to understand the current state of the biliary stents market and provides insights into the trends and opportunities that can be leveraged to gain a competitive edge.

Biliary Stents Market Segmentation

Biliary stents market can be segmented based on product type, application, and end-user.

Product Type:

Plastic Stents: Plastic stents are made of polyethylene or polypropylene and are used to treat benign biliary tract obstruction. They are further segmented into polyethylene stents and polypropylene stents.
Metal Stents: Metal stents are made of stainless steel or nitinol and are used to treat malignant biliary tract obstruction. They are further segmented into self-expanding metal stents and balloon-expandable metal stents.

Application:

Benign Biliary Tract Obstruction: Benign biliary tract obstruction occurs due to conditions such as gallstones and bile duct strictures. Plastic stents are typically used to treat benign biliary tract obstruction.
Malignant Biliary Tract Obstruction: Malignant biliary tract obstruction occurs due to cancer of the bile duct. Metal stents are typically used to treat malignant biliary tract obstruction.

End-user:

Hospitals: Hospitals are the largest end-users of biliary stents as they are used in a variety of procedures such as endoscopic retrograde cholangiopancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC).
Ambulatory Surgical Centers: Ambulatory surgical centers are also significant end-users of biliary stents as they are used in minimally invasive procedures.
Others: Biliary stents are also used in research institutions and academic medical centers for training and research purposes.

Overall, segmentation of the biliary stents market helps in identifying the specific areas of the market that are growing and the areas that are not, and in turn, helps in identifying the key trends that are driving the market.

Biliary Stents Market Forecast

The biliary stents market is expected to experience significant growth in the forecast period. According to research, the global biliary stents market was valued at USD 1.21 Billion in 2020 and is expected to reach USD 1.87 Billion by 2028, at a CAGR of 5.2% during the forecast period.

The market growth is attributed to several factors such as increasing adoption of minimally invasive procedures, rising use of self-expanding stents, and increasing prevalence of biliary tract diseases. Additionally, the increasing preference for plastic stents over metal stents, and the growing use of biliary stents for the treatment of malignant biliary tract obstruction are also driving the market growth.

However, the high cost of biliary stents, the risk of stent migration, and the lack of reimbursement for biliary stents in certain countries may hinder the market growth.

Overall, the biliary stents market is expected to witness a steady growth in the forecast period. The increasing adoption of minimally invasive procedures and the growing use of biliary stents for the treatment of malignant biliary tract obstruction are the key drivers of the market growth.

Biliary Stents Market Growth

The market growth is driven by the increasing adoption of minimally invasive procedures for the treatment of biliary tract diseases. Minimally invasive procedures are less invasive and have a shorter recovery time compared to traditional open surgery. This has led to an increasing number of patients opting for minimally invasive procedures, which in turn is driving the growth of the biliary stents market.

Another driver of the market growth is the increasing use of self-expanding stents. Self-expanding stents are easier to use and have a lower complication rate compared to balloon-expandable stents. This has led to an increasing preference for self-expanding stents, which is driving the growth of the market.

The increasing prevalence of biliary tract diseases such as gallstones and bile duct cancer is also driving the market growth. Biliary tract diseases are on the rise due to factors such as an increasing aging population and changing lifestyle habits.

However, the high cost of biliary stents, the risk of stent migration, and the lack of reimbursement for biliary stents in certain countries may hinder the market growth.

Overall, the biliary stents market is expected to witness a steady growth in the forecast period. The increasing adoption of minimally invasive procedures, the rising use of self-expanding stents, and the increasing prevalence of biliary tract diseases are the key drivers of the market growth.

Biliary Stents Market Competitor Analysis

The biliary stents market is highly competitive, with a large number of players operating in the market. Some of the major players in the biliary stents market include Boston Scientific, Cook Medical, Olympus, Medtronic, Merit Medical Systems, C.R. Bard, Taewoong Medical, and EndoChoice Holdings.

Boston Scientific and Cook Medical are the leading players in the biliary stents market. They have a strong presence in the market and offer a wide range of biliary stents.

Olympus and Medtronic are also significant players in the biliary stents market. They have a strong product portfolio and offer biliary stents for a variety of indications.

Merit Medical Systems, C.R. Bard, Taewoong Medical, and EndoChoice Holdings are also major players in the biliary stents market. They have a strong presence in the market and offer a wide range of biliary stents.

These major players are focusing on product launches, collaborations, and partnerships to expand their market share and strengthen their position in the market. They are also investing in research and development to develop new and advanced biliary stents to meet the needs of the market.

Biliary Stents Market Strengths

The biliary stents market has several strengths that contribute to its growth. Some of these strengths include:

Increasing adoption of minimally invasive procedures: Minimally invasive procedures such as endoscopic retrograde cholangiopancreatography (ERCP) are becoming increasingly popular for the treatment of biliary tract diseases. This has led to an increase in the use of biliary stents, which is driving the growth of the market.
Rising use of self-expanding stents: Self-expanding stents are becoming increasingly popular due to their ease of use and lower complication rate compared to balloon-expandable stents. This is driving the growth of the biliary stents market.
Increasing prevalence of biliary tract diseases: Biliary tract diseases such as gallstones and bile duct cancer are on the rise due to factors such as an increasing aging population and changing lifestyle habits. This is driving the growth of the biliary stents market.
Growing use of biliary stents for the treatment of malignant biliary tract obstruction: The growing use of biliary stents for the treatment of malignant biliary tract obstruction is also driving the market growth.
Developments in biliary stent technology: The market is witnessing significant advancements in stent technology such as the development of plastic stents, which are replacing metal stents.
High demand for biliary stents in developed countries: The developed countries such as the United States, Japan and Germany have a higher demand for biliary stents, which is driving the market growth.

Overall, the biliary stents market has several strengths that are driving its growth, such as the increasing adoption of minimally invasive procedures, the rising use of self-expanding stents, the increasing prevalence of biliary tract diseases, and the growing use of biliary stents for the treatment of malignant biliary tract obstruction.

Biliary Stents Market Opportunities

The biliary stents market has several opportunities that are expected to contribute to its growth in the future. Some of these opportunities include:

Increasing adoption of biliary stents in emerging markets: Emerging markets such as China, India and Brazil are expected to witness an increase in the adoption of biliary stents due to the increasing awareness about the disease and the availability of advanced medical facilities.
Development of new and advanced biliary stents: The market is expected to see the development of new and advanced biliary stents with improved features such as better flexibility, enhanced imaging capabilities and reduced complication rate.
Growing use of biliary stents in the treatment of benign biliary tract obstruction: The growing use of biliary stents in the treatment of benign biliary tract obstruction is also expected to drive market growth.
Growing use of biliary stents in combination with other therapies: The growing use of biliary stents in combination with other therapies such as chemotherapy and radiation therapy is expected to drive market growth.
Increasing use of biliary stents for palliative treatment: The increasing use of biliary stents for palliative treatment of advanced biliary tract cancer is also expected to drive market growth.
Growing investment in R&D: The market is expected to see a growing investment in research and development to develop new and advanced biliary stents.
Increasing demand for biliary stents in developing countries: The developing countries such as China and India have a high demand for biliary stents, which is expected to drive the market growth.

Overall, the biliary stents market has several opportunities that are expected to drive its growth in the future, such as the increasing adoption of biliary stents in emerging markets, the development of new and advanced biliary stents, and the growing use of biliary stents in the treatment of benign biliary tract obstruction and combination with other therapies.

Biliary Stents Market Weakness

The biliary stents market also has some weaknesses that may hinder its growth. Some of these weaknesses include:

High cost of biliary stents: Biliary stents are relatively expensive, which may limit their adoption in developing countries and among patients who are unable to afford the cost.
Risk of complications: Biliary stents are associated with certain complications such as bleeding, infection, and stent migration, which may limit their use.
Limited reimbursement: Reimbursement for biliary stent procedures is limited in many countries, which may discourage the use of biliary stents.
Short shelf life of biliary stents: Many biliary stents have a short shelf life, which may limit their use.
Stringent regulatory requirements: The market is facing stringent regulatory requirements for the approval of new biliary stents, which may limit the introduction of new products.
Limited use in certain types of biliary tract diseases: Biliary stents are not suitable for certain types of biliary tract diseases such as primary sclerosing cholangitis (PSC) and biliary atresia.
Limited awareness: Limited awareness about biliary stents in certain regions and populations may limit their adoption.

Overall, the biliary stents market has some weaknesses that may hinder its growth, such as the high cost of biliary stents, risk of complications, limited reimbursement, short shelf life of biliary stents, stringent regulatory requirements and limited use in certain types of biliary tract diseases, limited awareness about biliary stents.

Biliary Stents Market Threats

The biliary stents market also has some threats that may negatively impact its growth. Some of these threats include:

Alternative treatments: The market is facing competition from alternative treatments such as endoscopic retrograde cholangiopancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC), which may limit the adoption of biliary stents.
Stringent regulations: Stringent regulations for the approval of biliary stents may limit the introduction of new products and increase the cost of product development.
Economic downturns: Economic downturns may negatively impact the market as they may lead to reduced healthcare spending, which may limit the adoption of biliary stents.
Lack of skilled professionals: The lack of skilled professionals in certain regions may limit the adoption of biliary stents.
High competition among market players: The market is highly competitive, with a large number of players, which may limit the growth of individual companies.
Technological advancements: Advancements in technology may lead to the development of new and improved biliary stents, which may limit the growth of older products.
Patent expiration: Patent expiration of some key products may lead to an increase in competition and price erosion.
Adoption of minimally invasive procedures: The increasing adoption of minimally invasive procedures such as laparoscopic cholecystectomy and endoscopic retrograde cholangiopancreatography (ERCP) may lead to the reduced use of biliary stents.

Overall, the biliary stents market has some threats that may negatively impact its growth, such as alternative treatments, stringent regulations, economic downturns, lack of skilled professionals, high competition among market players, technological advancements, patent expiration of some key products and the adoption of minimally invasive procedures.

Post Disclaimer

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Market Insight Lab journalist was involved in the writing and production of this article.