The European pancreatic and biliary stents market is forecast to increase from $60.5m in 2016, to $84m by 2023, according to a report by GlobalData.
Titled ‘MediPoint: Pancreatic and Biliary Stents – Europe Analysis and Market Forecast’, the report covers 21 major markets, including oesophageal, gastrointestinal and colonic stents.
Increased cancer rates and the development of stenting technology are the main drivers of the industry, while a rise in endoscopic retrograde cholangiopancreatography and percutaneous transhepatic cholangiography procedures, which require stenting and recurrent stenting, is also driving the market.
The pancreatic and biliary stents market includes plastic, fully covered and partially covered metal, as well as non-covered stents. The fully covered metal pancreatic and biliary stents segment is the fastest growing segment of the market, compared to globally declining non-covered metal pancreatic and biliary stents segment.
Fully covered stents are preferred due to reduced risk of post-operative complications, states GlobalData healthcare analyst Brigitte Babin.
The European market is fragmented and includes both regional and international players. Boston Scientific and Cook Medical hold the main share in the market globally.