May 23, 2024

The Global Lung Stent Market Is Trending Towards Customized Stents

Stents are used to treat conditions like tracheobronchomalacia and bronchostenosis that cause narrowing or collapse of airways. Made of metal or silicon materials, lung stents improve breathing by widening the airway and preventing further blockage. The demand for lung stents is rising due to increasing incidence of lung cancer, chronic obstructive pulmonary disease (COPD) and other respiratory disorders.

 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. Key players are focusing on developing customized lung stents to treat complex airway abnormalities. For instance, Boston Scientific offers customized Nitinol stents like Esophageal Stents and Tracheobronchial Stents.

The growing demand for minimally invasive procedures and rising lung cancer incidence globally is propelling the  Global Lung Stent Market Growth. According to the National Cancer Institute, lung cancer is the second most common cancer in the world, with over 2.1 million new cases reported annually. Expanding aging population vulnerable to chronic respiratory diseases is another factor fueling the demand.

Geographic expansion into emerging nations is another key strategy adopted by leading players. Latin American and Asia Pacific markets offer high growth potential owing to improving healthcare access and increasing disposable incomes in these regions.

Market Key Trends
Customized stents are gaining prominence to treat complex lung conditions. 3D printing and computer-aided designs are enabling manufacturers to produce patient-specific stents tailored as per the size and contours of individual airways. This significantly improves treatment efficacy and outcome. Pulmonx Corporation is a leader in designing customized Zephyr valves using 3D printing for severe emphysema. Going forward, advanced technologies will facilitate production of highly customized stents on a large scale to address unmet needs in the lung stent market.

Porter’s Analysis
Threat of new entrants: New entrants face high costs for establishing manufacturing facilities and obtaining regulatory approvals. Bargaining power of buyers: There is a moderate bargaining power of buyers due to the availability of substitutes. Bargaining power of suppliers: Suppliers have low bargaining power due to the availability of alternative suppliers in the market. Threat of new substitutes: There is a moderate threat of new substitutes as stent alternatives such as bronchodilation and drug therapy exist. Competitive rivalry: The market is moderately competitive due to the presence of major players.

Geographical regions with the highest lung stent market share in terms of value are North America and Europe as these regions have advanced healthcare infrastructure and a growing elderly population with lung diseases. The Asia Pacific region is expected to experience the fastest growth during the forecast period due to rising lung cancer incidence, increasing healthcare spending, growing awareness, and improving medical technologies in countries such as China and India.

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