Global Metal Non-covered Biliary Stent Market, By Type (Absorbable and Non-Absorbable), By Application (Malignant Obstruction, Biliary Leaks, Benign Biliary Strictures, and Others), By End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 369.22 Million in 2023, and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Technological advancements in the treatment of biliary disorders and growing healthcare expenditure in emerging economies is estimated to drive the market growth during the forecast period. Thus, market players are focusing on the organic as well as inorganic strategies for the development of treatment for biliary disorder. For instance, in June 2020, Cook, a medical device company, and Bentley, a medical equipment manufacturing, begraft, and vascular surgery company, announced that both companies collaborated for clinical trials involving Cook’s fenestrated and branch stent grafts and Bentley’s covered stents. Through this collaboration, the companies aim to launch medical devices specifically indicated for complete endoscopic retrograde cholangiopancreatography procedures.
Global Metal Non-covered Biliary Stent Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had a negative impact on the global metal non-covered biliary stent market owing to the postponed elective endoscopic retrograde cholangiopancreatography procedures. For instance, in December 2022, according to an article published by Journal of Surgical Laparoscopy Endoscopy & Percutaneous Techniques, elective endoscopic retrograde cholangiopancreatography (ERCP) procedures were postponed due to the COVID-19 outbreak. Postponing elective ERCP procedures for the biliary stent system during the COVID-19 pandemic led to decrease in demand for biliary stents.
Global Metal Non-covered Biliary Stent Market: Key Developments
In May 2022, Veryan Medical, a medical device company that develops three dimensional vascular stents for peripheral vascular disease, announced that it had signed an agreement for peripheral and biliary stents with Premier, a healthcare solutions company. The new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for the BioMimics 3D Vascular Stent System.
In June 2022, Boston Scientific Corporation or its affiliates, a developer, manufacturer, and marketer of medical devices, announced that it had entered into a definitive agreement with Synergy Innovation, an executive search and recruitment services company, to purchase its majority stake (approximately 64 percent) of Mitech, a manufacturer and distributor of medical devices for endoscopic and urologic procedures. Mitech is the developer of Hanarostent technology, a family of conformable, non-vascular, self-expanding metal stents that were distributed by Boston Scientific Corporation or its affiliates. The agreement consists of a purchase price of US$ 11.1328 per share that represents a total of approximately US$ 230 million at current exchange rates, subject to closing adjustments.
In July 2021, QualiMed, a wholly owned subsidiary of Q3 Medical Group, an Ireland-based company which deals with the innovation of biodegradable implants and micro invasive technology, had received CE (Conformité Européenne) mark approval for a dedicated percutaneous biodegradable metal alloy based stent implant for biliary applicationsnamed UNITY-B Percutaneous Balloon Expandable Biodegradable Biliary Stent (BEBS).
Browse 34 Market Data Tables and 26 Figures spread through 220 Pages and in-depth TOC on “Global Metal Non-covered Biliary Stent Market”- Forecast to 2030, Global Metal Non-covered Biliary Stent Market, By Type (Absorbable and Non-Absorbable), By Application (Malignant Obstruction, Biliary Leaks, Benign Biliary Strictures, and Others), By End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/metal-non-covered-biliary-stent-market-4087
Key Takeaways of the Global Metal Non-covered Biliary Stent Market:
- Global metal non-covered biliary stent market is expected to exhibit a CAGR of 4.6% during the forecast period. The collaboration with emerging economies offers lucrative growth opportunities for players in the global metal non-covered biliary stent market.
- Among End User, hospitals segment is expected to hold a dominant position in the global metal non-covered biliary stent market over the forecast period, owing to rising prevalence of biliary diseases. For instance, on January 12, 2023, according to the American Cancer Society, 8,000 people in U.S. are diagnosed with bile duct cancers every year. This includes both intrahepatic (inside the liver) and extrahepatic (outside the liver) bile duct cancers.
- Among Type, absorbable segment is expected to hold a dominant position in the global metal non-covered biliary stent market during the forecast period due to immediate technical and clinical success rates of absorbable biliary stent. For instance, in November 2022, according to an article published by Journal of Bioactive Materials, an absorbable polydioxanone biliary stent can be successfully and safely implanted to treat benign biliary strictures that do not respond to balloon dilatation or other biliary operations, according to research.
- Major players operating in the global metal non-covered biliary stent market include AMG International, BD (Becton Dickinson and Company), Boston Scientific Corporation or its affiliates, Cook, Merit Medical Systems, Pnn Medical A/S, TAEWOONG, Teleflex Incorporated, CONMED Corporation, Olympus Corporation, and Abbott
