May 18, 2024

Global Lung Stent Market is Estimated to Witness High Growth Owing to Technological Advancements in Targeted Therapies

Lung stents are hollow tubes that are surgically implanted in patients suffering from airway obstructions or abnormalities. They help in restoring patency and airflow in the lungs. Stents are commonly used in the treatment of conditions like lung cancer, chronic obstructive pulmonary disease (COPD), and others. Some of the key advantages of lung stents include easy implantation through minimally invasive procedures, immediate relief from airway obstruction, improved lung functioning and efficacy. Growing incidence of lung cancer coupled with rising cases of COPD globally is expected to drive the demand for lung stents.

The Global Lung Stent Market is estimated to be valued at US$ 206.5 million in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period of 2024 to 2031.

Key Takeaways
Key players operating in the Global Lung Stent Market are Boston Scientific, Cook Medical, Medtronic, Taewoong Medical, Hospitech, Bess, Endo-Flex, Efer Endoscopy, W. L. Gore & Associates, BD, Edwards Lifesciences, Healthy Medical Corporation, Pulmonx Corporation, Meril Life Sciences Pvt. Ltd and C. R. Bard Inc. These companies are increasingly focusing on developing advanced lung stents with enhanced material properties and targeted delivery mechanisms.

The Global Lung Stent Market Growth offers significant growth opportunities in target segments like silicone stents and valve stents. Further, technological advancements in the field of 3D printing, bioresorbable polymers and drug eluting materials are likely to expand the application scope of lung stents over the forecast period.

Recent developments in tissue engineering, bioprinting and targeted therapies are expected to bring revolutionary changes in lung stenting procedures. Adoption of miniature and bioabsorbable stents and valves could transform the treatment of various lung disorders.

Market Drivers
Rising geriatric population worldwide susceptible to respiratory conditions like COPD and lung cancer is a major growth driver for the lung stent market. Growth in healthcare expenditure, increased accessibility and awareness about interventional pulmonology procedures will also propel the market forward. Furthermore, favorable reimbursement policies and ongoing research on degradable stents are likely to augment the adoption of lung stents globally in the coming years.

Current Challenges in the Global Lung Stent Market
The global lung stent market is facing major challenges owing to the increasing prevalence of chronic obstructive pulmonary disease (COPD) and lung cancer across the world. Factors like rising pollution levels, growing tobacco consumption and aging population have contributed to the rising burden of respiratory diseases. This has increased the demand for lung stents to treat conditions like bronchial stenosis and late stage cancers. However, high costs associated with interventional lung procedures and lack of availability of advanced stents in developing nations are posing significant bottlenecks in the growth of this market. Developing universally accepted guidelines for stent selection and delivery techniques is also proving challenging for industry players and physicians.

SWOT Analysis
Strength: Precision placement of lung stents to re-open blocked airways, relieve breathlessness and enhance quality of life. Various material and design options available.
Weakness: Invasive nature of implantation procedure poses risks. Stents are prone to migration, fracture and obstruction over time requiring re-intervention.
Opportunity: Rising respiratory disease burden globally increasing need for minimally invasive lung therapies. New elastomeric and bioabsorbable stent platforms can expand opportunities.
Threats: Strong competition from alternative treatments. Risk of infection and stent failure. Stringent regulatory approval pathway for novel devices.

Geographical Regions with Highest Market Value
North America currently dominates the global lung stent market in terms of value, owing to developed healthcare infrastructure, availability of advanced stents and high disease prevalence in the region. The United States represents the single largest market for lung stents globally. However, Asia Pacific is emerging as an attractive regional market with China, Japan and India experiencing rapid economic growth and increasing healthcare spending.

Fastest Growing Geographical Region
Asia Pacific region is poised to witness the highest growth in the global lung stent market over the forecast period due to rising incidences of lung cancer due to widespread smoking in developing countries. Increasing healthcare expenditure, growing awareness about interventional therapies and large patient pool will majorly support the Asia Pacific lung stent market. Favorable government initiatives to strengthen respiratory care services are also fueling the demand for lung stents across Asia.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it