According to a new report published by Allied Market Research, titled, " U.S. Colonic Stents Market by Product Type, Indication, and End User: Opportunity Analysis and Industry Forecast, 2018-2026," The U.S. colonic stents market size was valued at $6.44 million in 2018, and is projected to reach $9.41 million by 2026, registering a CAGR of 4.8% from 2019 to 2026. By indication, the colorectal cancer segment accounted for a major share in 2018 and is expected to experience highest growth during the forecast period due to the increase in adoption of metallic stents for the treatment of colonic obstruction.
Colonic stent is widely use for the treatment of the colorectal cancer. It helps to keep the segment of the large bowel open, when it becomes blocked by a stricture or a tumor. Stents can be used when there is either a partial or complete blockage in the bowel to reduce the pressure in the bowel and relieve the obstruction. The major factors which drive the growth of this market include high prevalence of colorectal cancer in the U.S., and surge in demand for minimally invasive procedures However, high costs associated with colonic stents are anticipated to restrain the market growth during the forecast period.
The major factors that drive the market growth include significant rise in incidences of colorectal cancer in the U.S., and technological advancements associated with colonic stents such as usage of self-expanding alloys in the manufacturing of stents. However, complications and high costs associated with colonic stents is anticipated to hamper the growth of the colonic stents market in the U.S. Moreover, colonic stenting improves the primary anastomosis rate with a low stoma creation in comparison with emergency surgery. Improved colonic stent such as self-expandable metallic stents (SEMS) is used for the bridge to surgery and it also able to cure patients with the palliative intent with advanced neoplastic disease, to avoid stoma and health care costs related to stoma. This provides a lucrative opportunity for the growth of the U.S. colonic stents market.
The colonic stents market is segmented based on product type, indication, and end user. Based on product type, the self-expandable metal stents segment held the largest share in 2018, due to high usage of self-expandable metal stents for acute malignant large bowel obstruction and for palliative patients.
By indication, the market is segmented into colorectal cancer/bridge to surgery, benign colonic strictures, and other indications. Among these, the colorectal cancer segment garnered the largest share in 2018 as colorectal cancer is the third most common cancer diagnosed in both men and women in the U.S. and is expected to lead the market during the analysis period.
By end user, the market is divided into hospitals and specialty clinics. Amongst these, hospital segment gathered the major U.S. colonic stents market share in 2018, due to easy availability of these equipment and all other facilities required for the stenting procedure are in the hospitals.
Key Findings of the U.S. Colonic Stents Market:
- Based on type, the nitinol colonic stent held the majority of market share in 2018 and is anticipated to continue its dominance during the forecast period.
- The colorectal cancer segment based on indication accounted for the largest market share in 2018 and is also estimated to grow at the highest CAGR of 4.6%.
- By end user, hospital segment held the highest market share and expected to lead the market during the analysis period.
The U.S. colonic stents market is highly competitive and the prominent players in the market have adopted various strategies for garnering maximum market share. These include expansion of their geographical presence through collaborations and focus on R&D activities for the development of metal stents. Major players operating in the market include Boston Scientific Corporation, Cook Medical Inc., Ella-CS, Taewoong, MI-TECH and Olympus Corporation.