Report: North American enteral stents market value to reach $62.3m by 2023
The North American enteral stents market is expected to grow at a compound annual growth rate (CAGR) of 4.2%, according to a report by GlobalData.
Titled ‘MediPoint: Enteral Stents – North America Analysis and Market Forecasts’, the report forecasts the enteral stents market in North America to grow in value from $46.8m in 2016 to $62.3m by 2023.
The primary factors driving the anticipated growth are increase in cancer rates, advances in stenting technology, and increase in prevalence of diseases such as diabetes and obesity. The US, which is the biggest market in the region, is anticipated to grow from $42.7m in 2016 to approximately $57m by 2023.
The enteral stents market, which includes oesophageal, gastrointestinal and colonic stents, is segmented into fully-covered and partially-covered stents. Uncovered stents were common earlier, but the market has eventually moved towards partially-covered and fully-covered stents as covering helps in protecting from development of tumour and tissue ingrowth.
Fully-covered enteral stents dominated the market with a market share of 73% in 2016, followed by partially-covered stents, states Brigitte Babin, MSc, Healthcare Analyst for GlobalData. Both the segments are projected to grow in the region, at a CAGR of 4.7%, particularly in the US. Uncovered stents market, however, is expected to decline in the region.
Boston Scientific, Cook Medical and Taewoong Medical are the biggest players in the international enteral stents market.