GLOBAL LUNG STENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The global lung stent market size is expected to reach US$ 333.8 Mn by 2030, from US$ 206.5 Mn in 2023, growing at a CAGR of 7.1% during the forecast period. Lung stents are tiny mesh tubes that are inserted into the airways of the lungs through a minor procedure called bronchoscopy. There are basically two main types of lung stents: metal stents and silicone stents. Metal stents are mostly made of nitinol, which is a nickel-titanium alloy known for its shape, memory, and flexibility. They are easy to place and provide adequate patency for up to a year. However, tissue growth through the mesh can cause complications. Silicone stents are made of medical-grade silicone and are less prone to tissue growth. However, they are a bit harder to place accurately due to their physical properties.

The primary purpose of a lung stent is to keep an airway or bronchus open if it has become narrowed due to conditions like lung cancer, tuberculosis, or other chronic obstructive diseases. This allows for proper respiration and lung function. They provide symptomatic relief from shortness of breath, coughing, wheezing, or even collapse of the lung in severe cases. However, lung stents also have some disadvantages. Long-term placement can cause infection or further narrowing over time. There are also risks of migration, perforation, or expectoration of the stent during coughing. Overall, lung stents have become an important therapeutic option for pulmonary diseases but should only be used after exhausting other treatment options.

Global Lung Stent Market Regional Insights

• North America is expected to be the largest market for lung stent over the forecast period and it accounted for over 36.3% of the market share in 2023. The growth of the market in North America is attributed to the presence of leading medical device companies, established healthcare infrastructure, and high healthcare spending, have driven market growth over the years. Furthermore, the strong focus on research and innovation has led to new product launches, thereby augmenting market expansion.
• Europe is expected to be the second-largest market for lung stent, which accounted for over 30.4% of the market share in 2023. The growth of the market is attributed to the availability of favorable reimbursement scenario for interventional lung procedures in countries such as Germany, UK and France is playing a crucial role in driving the demand for lung stents
• Asia Pacific is expected to be the fastest-growing market for lung stent, which is expected to grow at a CAGR of over 8.2% during the forecast period. The growth of the market in Asia Pacific is attributed to the rapidly developing economies such as China and India, which are expected to showcase high investment opportunities owing to increasing healthcare expenditures and expanding healthcare infrastructure. Improving regulatory guidelines and reimbursement policies is positively impacting market dynamics. In addition, growing preference for minimally invasive procedures among patients

Figure 1. Global Lung Stent Market Share (%), by Region, 2023

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Analyst’s Views:

The lung stent market is expected to experience steady growth over the forecast period due to the rising incidence of lung cancer and other respiratory diseases. The market is driven by the increasing preference for minimally invasive procedures and growing geriatric population susceptible to lung disorders. However, stringent regulatory approvals and product recalls pose a major challenge to market players. Asia Pacific is projected to be the fastest-growing regional market due to improving healthcare facilities and rising medical tourism in the low-cost nations. North America will continue to dominate the global lung stent market, supported by an advanced healthcare system and considerable reimbursement coverage for endoprosthesis implantation. The lung stent segment is anticipated to gain a higher share during the forecast timeframe on the back of improved patient outcomes with lung stent placement as compared to traditional invasive surgeries. The metallic lung stents segment holds the largest revenue share currently, but biodegradable varieties are emerging as an attractive alternative. The market presents lucrative opportunities for manufacturers with ongoing research and development in bioabsorbable stents and customized stents based on individual lung anatomy. Major players are investing in new product launches, collaborations with healthcare facilities, and acquisitions to strengthen their market position. However, stent fracture issues and in-stent stenosis risks can impede the market expansion to some extent.

Global Lung Stent Market Drivers:

• Growing demand for minimally invasive procedures: The demand for minimally invasive procedures is a major factor contributing to the rising growth of the global lung stent market. In recent years, there has been a significant shift towards minimally invasive techniques across various medical disciplines, as they offer considerable advantages over traditional open surgeries. Minimally invasive procedures are associated with less pain, fewer complications, a lower risk of infection, a shorter hospital stay, and a quicker recovery time for patients. Lung stenting procedures performed through bronchoscopy or thoracoscopy allow treatment of various lung conditions in a minimally invasive manner. This has boosted the adoption of lung stents, which are placed using small incision sites or naturally occurring openings to widen or keep open the airways. For example, lung stents are often used to relieve central airway obstructions caused by lung cancer, COPD, or other tumors. They help restore airflow and improve breathing in patients. The non-invasive nature and favorable outcomes have led to lung stents becoming the standard of care for treating various lung diseases involving airway obstructions.
• Increasing risk factors such as smoking: The rising prevalence of lung cancer due to smoking is a major factor contributing to the growth of the global lung stent market. According to the American Lung Association, 2022, cigarette smoking is the primary cause of lung cancer, accounting for approximately 80-90% of lung cancer deaths. Their data estimates that over 1.8 million new lung cancer cases were diagnosed in 2020 alone in the U.S. Of these cases, over 80% were directly caused by cigarette smoking. The World Health Organization, 2022 reports that globally, close to 11% of all cancers are lung cancers. Tobacco use has risen sharply in developing nations, increasing the risk of lung cancer exponentially. China accounts for over 1/3 of the world's cigarette consumption, with smoking rates still rising among men. India too has seen a meteoric rise in cancer incidence attributable to widespread smoking. The WHO data predicts that lung cancer rates will continue to surge in the coming decade across Asia and Africa due to increased smoking prevalence and a lack of awareness.
• Technological advancements in stent designs: Technological advancements are significantly impacting the lung stent market. Lung stents are small tubes inserted into the airways of the lungs through minimally invasive procedures to help keep them open for airflow in conditions like lung cancer and chronic obstructive pulmonary disease (COPD). New stent designs allow better improvement in lung functioning for patients. New self-expanding stent designs made of nickel-titanium alloy or stainless steel provide better radial force to precisely expand the airways on placement and ensure they remain open even years after implantation. This drastically improves symptoms and quality of life for patients. Recent innovations in material coatings are also a major boost. Stents coated with drug eluting capabilities now slowly release chemotherapy drugs or antibiotics at the site over months, aiding in the treatment of cancer or infections directly inside lungs. This localized drug delivery ensures a high dose at the site with minimal systemic side effects.
• Growing healthcare expenditure: The rising healthcare costs across the globe are placing a significant burden on individuals and national economies. According to data from the World Bank, global healthcare spending increased from US$ 7.8 trillion in 2019 to US$ 8.3 trillion in 2021, and is projected to rise further in the coming years. As healthcare expenditures balloon, governments and private insurers are seeking cost-effective solutions to treat chronic conditions. One disease area experiencing tremendous growth in treatment needs is lung disease. Conditions such as chronic obstructive pulmonary disease (COPD) and lung cancer have risen in prevalence in recent years due to aging populations and increasing pollution levels. Treating severe lung diseases typically requires invasive procedures and lengthy hospital stays that contribute heavily to the overall disease burden.

Global Lung Stent Market Opportunities:

• Development of biodegradable and resorbable stents: The development of biodegradable and resorbable stents could be a great opportunity in the lung stent market going forward. Conventional metal stents cause various complications for patients as they are permanent implants that require additional procedures for removal. However, biodegradable stents dissolve naturally in the body over time without requiring removal, thus eliminating the need for additional invasive procedures. This reduces risks, recovery times, and the cost of treatment for patients. Biodegradable stents are typically made of polymers that break down slowly and harmlessly in the body. As the stent degrades, it gets replaced by the patient's natural tissues thereby restoring the natural pathway of airflow over the long run without leaving any foreign material permanently implanted. Manufacturers are innovating newer bioresorbable materials that can fully degrade within 6-24 months based on the application and properties desired. For example, a study by American scientists published in 2021 found a polymeric blend that fully degraded within 12 months when implanted for lung cancer treatment in animal models.
• Emerging economies in Asia Pacific and Latin America: The emerging economies in Asia Pacific and Latin America present a huge opportunity for growth in the lung stent market. These regions have a very young population with rapidly improving healthcare access and infrastructure. Diseases like lung cancer, COPD, and pulmonary embolism require procedures like lung stent placement to relieve blockages and improve breathing. While still not as advanced as developed markets, the public healthcare systems and medical device availability in these regions have expanded vastly in recent years. Governments have increased healthcare spending to meet the demands of their growing populations. For example, India's national health budget nearly doubled from 2014 to 2020, according to government reports. This has resulted in more advanced hospitals, trained pulmonologists, and expanded insurance coverage.
• Adoption of hybrid stents: The use of hybrid lung stents presents a major growth opportunity in the lung stent market. Hybrid stents integrate both metal and polymer components to offer the benefits of both types of stents. They provide the structural stability and precision of placement of metal stents while avoiding long-term issues associated with permanent metal implants inside the body. The polymer portion is designed for biodegradability and enhanced sealing abilities. This can help reduce complications like migration or granuloma formation over time as compared to traditional metal stents. Recent advances have made hybrid stents a viable alternative for a wider range of lung conditions. New fabrication techniques allow for thin, flexible designs that can navigate complex airway anatomies better than before. Some hybrid stents also feature surface modifications and drug elution capabilities for targeted therapy. As such, they are being increasingly used for treatment of benign indications beyond just malignant airway obstructions. According to the American Thoracic Society, in 2021, cases of benign tracheobronchomalacia rose 15% between 2018 and 2020. This growing patient pool could adopt hybrid stents as a preferred minimally-invasive treatment option.

Global Lung Stent Market Trends:

• Consolidation among market players: Consolidation has been an ongoing trend in the lung stent market over the past few years. Major players have been acquiring smaller competitors to expand their product portfolios and geographic reach. This allows companies to benefit from synergies and economies of scale. For example, in 2021, Boston Scientific, one of the leading innovator of less invasive medical solutions acquired Devoro Medical, is a developer of a medical device, adding several bronchoscopic lung volume reduction products to their offerings. This strengthened Boston Scientific's position in the bronchoscopic lung volume reduction space. Another example is Cook Medical's acquisition of various esophgeal stent assets from Taewoong Medical in 2022. This enhanced Cook's product lines for lung-related conditions.
• Rising demand for silicone and hybrid stents: The rising demand for silicone and hybrid stents is having a significant impact on the lung stent market. These newer generation stents are increasingly becoming the preferred options for lung stent procedures owing to their various clinical benefits over traditional metal stent designs. Silicone and hybrid stents offer improved biocompatibility and a reduced risk of stent fractures as their material is more flexible than metal. This allows them to adapt better to the dynamic lung environment and natural body movements. The improved compliance of these stents results in superior sealing of air leak sites and enhanced efficacy in maintaining bronchial patency over longer periods of time. They also cause minimal injury to the lung tissue during insertion and retrieval processes due to their softer material.
• Increasing popularity of personalized stents: The increasing popularity of personalized stents is having a major influence on the lung stent market. Traditional stents are manufactured in standard sizes and may not perfectly fit every patient's anatomy. However, personalized stents are specifically tailored for each patient based on scans of their individual airways. This allows the stents to be placed with optimal precision and minimizes issues like migration or blockage over time. The popularity of personalized stents is driven by the superior clinical outcomes they provide compared to traditional stents. Several recent studies have demonstrated the benefits of personalized stents. For example, a 2021 study published in the Journal of Thoracic Disease looked at 104 patients in U.S. receiving either personalized or standard stents to treat malignant central airway obstruction. It found that personalized stents led to significantly higher rates of clinical success, with 94.2% of blockages being completely resolved compared to 84.6% for standard stents. Complication rates were also lower with personalized stents.

Global Lung Stent Market Restraints:

• High costs associated with stent placement procedures: The high costs associated with stent placement procedures pose a major challenge for the growth of the lung stent market. Stent placement is an invasive surgical procedure that requires specialized equipment and a team of experienced medical professionals like pulmonologists, radiologists, and thoracic surgeons. This makes the procedure quite expensive. According to the National Hospital Ambulatory Medical Care Survey conducted in 2020, the average hospital costs for bronchoscopic stent placement procedures in the U.S. ranged from US$ 15,000 to US$ 30,000 excluding the costs of follow-up visits, medications, and management of complications, if any. These elevated medical costs put the procedure out of reach for many patients, especially those who are uninsured or underinsured.
• Risk of stent migration or obstruction: The risk of stent migration or obstruction is one of the major challenges restraining the growth of the lung stent market. Stent migration refers to the unwanted movement of the stent from its original placement site in the lungs, while obstruction means blockage of the airways by the stent over time. Both of these occurrences can have severe health consequences for patients. Lung stents are placed either through minimally invasive procedures such as bronchoscopy or through open chest surgery to keep airways open in conditions like lung cancer. However, the lungs are dynamic organs that undergo continuous contraction and expansion during breathing. This makes lung stents more prone to migration from their original site over time as compared to other parts of the body. Migration can block other airways or cause other complications. Similarly, lung tissue continuously grows around the stent, making it difficult for air to pass through. This gives rise to obstruction issues.
• Alternative treatment options available: Alternative treatment options available for lung conditions are one of the major factors restraining the growth of the lung stent market. There are several non-invasive options available that can help improve lung function and airflow without requiring the surgical implantation of stents. For example, procedures like bronchodilator therapy, pulmonary rehabilitation programs, and lung volume reduction surgery are becoming more prevalent choices for patients over stents. Bronchodilator therapy using inhalers can help relax and widen airways, making it easier to breathe for many patients. It has shown success in improving symptoms for a range of lung conditions. Pulmonary rehabilitation programs are also gaining popularity as they take a holistic approach to lung health. These programs involve exercise training, breathing techniques, nutrition counseling and education on lung self-management. According to data from the Centers for Disease Control and Prevention, pulmonary rehabilitation has been shown to reduce hospitalizations and healthcare costs while improving quality of life and functional status in many patients with COPD or other chronic lung diseases when compared to usual care. The use of minimally invasive lung volume reduction surgery is another alternative that allows diseased portions of the lung to be surgically removed, making breathing easier without the permanent implantation of a device.

Recent Developments

New product launches

• In 2022, Micro-Tech Endoscopy, which provides high-quality, affordable clinical options, announced the launch of the first self-expanding tracheobronchial nitinol y-stent. The Y-Shaped Tracheal Stent System is designed to be a flexible, compliant device to aid in the treatment of malignant neoplasms at the tracheobronchial carina.

Acquisition and partnerships

• In August 2023, Theken Companies, an U.S.-based family of medical implant makers, acquired VisionAir Solutions, a spinout centered around technology developed at the Cleveland Clinic. VisionAir’s flagship technology churns out 3D-printed airway stents that are personalized to each patient’s anatomy.

Figure 2. Global Lung Stent Market Share (%), by Product Type, 2023

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Top Companies in the Global Lung Stent Market

• 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
• C.R. Bard Inc.

Definition: A stent is a hollow tube that may be placed in the airway. It opens the narrowed area and helps to breathe. Lung stents are medical devices that are inserted into the airways of the lungs to keep them open. There are generally two main types of lung stents: metal and silicone. Metal stents are commonly made of nitinol or stainless steel. They are flexible and radially expandable, allowing minimally invasive placement in the lungs. Metal stents provide strong scaffolding of the airways and are long-lasting. However, the placement of metal stents can cause irritation to the interior lining of the airways over time.