April 19, 2024

Biliary Stents Market Size to Rise USD 762.42 Million by 2033

The global biliary stents market size was estimated at USD 443.39 million in 2023 and is expected to grow around USD 762.42 million by 2033,  at a CAGR of 5.57% from 2024 to 2033.

Key Points

  • North America captured the most significant share of the biliary stents market.
  • By product type, the metal segment has held the largest market share in 2023.
  • By application, the gallstone segment has held the largest segment of the biliary stents market.
  • By end use, the hospital segment held the dominating position in the market in 2023.

Biliary Stents Market Size 2024 to 2033

The Biliary Stents market is a vital segment within the broader medical devices industry, focusing specifically on the development and utilization of stents designed for biliary applications. Biliary stents play a crucial role in the treatment of various biliary diseases, such as gallstones, strictures, and other obstructions in the bile ducts. These stents are instrumental in maintaining the patency of the bile ducts, allowing for the smooth flow of bile from the liver to the small intestine. The market for biliary stents has witnessed significant growth in recent years, driven by the rising prevalence of biliary diseases, advancements in stent technology, and an aging global population.

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Growth Factors

Several factors contribute to the growth of the biliary stents market. Firstly, the increasing incidence of biliary diseases, including gallstones and biliary strictures, has led to a higher demand for effective and minimally invasive treatment options. Additionally, advancements in stent design and materials have improved the efficacy and durability of biliary stents, enhancing their adoption in clinical practice. The growing awareness among healthcare professionals about the benefits of biliary stenting, coupled with the rising trend of endoscopic procedures, further fuels market growth.

Furthermore, the aging population worldwide has become a key demographic driver. Elderly individuals are more prone to biliary disorders, leading to a higher demand for medical interventions such as biliary stenting. Technological innovations, such as the development of fully covered self-expandable metal stents (FCSEMS) and bioresorbable stents, are expected to open new avenues for market expansion.

Region Insights

The market for biliary stents is geographically diverse, with significant growth observed across various regions. North America holds a prominent share, driven by a well-established healthcare infrastructure, high healthcare expenditure, and a large patient pool with biliary disorders. Europe follows closely, with increasing awareness and a growing geriatric population contributing to market growth. The Asia-Pacific region is emerging as a lucrative market, propelled by improving healthcare facilities, rising disposable income, and a surge in the prevalence of biliary diseases.

Biliary Stents Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 5.57%
Global Market Size in 2023 USD 443.39 Million
Global Market Size by 2033 USD 762.42 Million
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Type, By Application, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Biliary Stents Market Dynamics

Drivers:

The drivers of the biliary stents market are multifaceted. Firstly, the minimally invasive nature of endoscopic procedures, which often involve biliary stent placement, has led to increased patient acceptance. The reduced recovery time and lower risk of complications associated with these procedures contribute to the growing preference for biliary stenting over traditional surgical interventions.

Additionally, collaborative efforts between medical device manufacturers and healthcare professionals have resulted in the development of stents with improved design, enhanced biocompatibility, and prolonged patency. These innovations address the limitations of earlier stent models, boosting their efficacy and overall market demand.

Restraints:

While the biliary stents market shows substantial promise, it is not without challenges. One significant restraint is the potential for complications associated with stent placement, such as stent migration, blockage, or tissue overgrowth. Addressing these complications requires additional medical interventions and can lead to increased healthcare costs, affecting market growth.

Moreover, reimbursement issues and the high cost of advanced biliary stents may limit their accessibility, particularly in developing regions. Regulatory challenges and the need for rigorous clinical validation also pose barriers to the swift entry of new products into the market.

Opportunities:

Despite the challenges, the biliary stents market presents several opportunities for growth and innovation. Ongoing research and development activities aimed at enhancing stent design, incorporating drug-eluting technologies, and exploring bioresorbable materials hold the potential to revolutionize the market.

Collaborations between healthcare providers, researchers, and industry players can facilitate the development of comprehensive treatment protocols, addressing the multifaceted nature of biliary diseases. Furthermore, expanding market penetration in developing regions, along with educational initiatives to increase awareness about biliary disorders and their treatment options, can unlock new opportunities for market players.

Read Also: Softgel Capsules Market Size to Rake USD 17.19 Billion by 2033

Recent Developments

  • In January 2024, Olympus concluded the acquisition of Taewoong Medical Co.  Ltd., a leading Korean gastrointestinal stent company.
  • In October 2022, Cordis, a global frontrunner in the innovation and production of interventional cardiovascular and endovascular technologies, revealed its acquisition of MedAlliance, a Switzerland-based firm renowned for pioneering drug-eluting balloons.
  • In June 2022, Boston Scientific announced its agreement to acquire a majority stake in M.I.Tech Co. Ltd. from Synergy Innovation Co. Ltd.

Biliary Stents Market Companies

  • Boston Scientific
  • Cook Group
  • ENDO-FLEX GmbH
  • Olympus Corporation
  • B Braun Melsungen
  • CONMED Corporation
  • M.I Tech
  • Becton, Dickinson & Company
  • Medtronic plc
  • Cardinal Health
  • Merit Medical System

Segments Covered in the Report

By Type

  • Metal
  • Polymer
  • Plastic

By Application

  • Biliopancreatic Leakages
  • Pancreatic Cancer
  • Benign Biliary Structures
  • Gallstones
  • Others

By End-use

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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