Albany, NY -- (SBWIRE) -- 11/14/2018 -- Duodenal stent is a medical device used to palliate duodenal obstruction. The duodenal stent keeps the sides of the duodenum open and is made of metal, which is expandable like a mesh tube. Distal or duodenal gastric malignancy and periampullary are the most common complications which cause duodenal obstructions. Duodenal stents are employed to allow food and other materials to pass to the stomach and reduce nausea and vomiting.
Increasing inclination of patients toward minimally invasive surgeries and increasing prevalence of intestinal diseases and disorders are fuelling the global Duodenal Stents Market. According to the American Cancer Society, each year in the U.S., almost 40,000 new cases of rectal cancer and approximately 93,000 new cases of colon cancer are diagnosed. Technological advancements in duodenal stents are driving the global duodenal stents market. Favorable regulations and new product launches have increased, which have fueled the global duodenal stents market. However, the restraining factors that hinder the expansion of the global duodenal stents market are delays in diagnosis and late complications of biliary stenting.
The global duodenal stents market can be classified on the basis of the product type, end user type, and region. In terms of product type, the global duodenal stents market can be segmented into metal duodenal stent and polymer duodenal stent. The metal duodenal stent segment holds a major share of the market in 2016 due to advances in research and development in delivery systems and stent design of duodenal stents. According to the U.S. National Library of Medicine, National Institutes of Health, usage of metal duodenal stent is the current choice of treatment for the palliation of malignant gastrointestinal outlet obstructions. However, the polymer duodenal stent segment is anticipated to expand during the forecast period due to the fact that the polymer is biodegradable, and the stent is likely to be absorbed within 8-10 weeks.
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In terms of end-user, the global duodenal stents market can be segmented into ambulatory surgical centers, hospitals, and specialty clinics. The hospitals segment held a significant share of the market in 2016 due to the fact that hospitals are the most preferred selection for conducting minimally invasive surgeries of duodenal diseases and disorders. Increasing demand for stenting for various gastrointestinal diseases and need for endoscopic procedures for the same are anticipated to rise during the forecast period for the end-user hospitals segment. The specialty clinics segment is estimated to expand at a rapid pace during the forecast period due to the increasing preference of specialty clinics, especially in developed as well as developing countries of the world.
Geographically, the global duodenal stents market can be segmented into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. North America held a major share of the global market in 2016 due to increasing advancements in research and development and increasing initiatives taken by governments for gastrointestinal diseases and disorders. Asia Pacific followed North America in terms of share of the global duodenal stents market. This is due to the acceptance of newer technologies, increasing awareness, new product launches, and favorable regulations in countries in the region, especially in India, China, and Japan.
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The global duodenal stents market is highly competitive; however, there are a few dominant players who have a strong foothold in the market. In this market, the strategy that is employed is the acquisitions and mergers to overcome the competition which enhances their technical expertise. Key players focus on the technological advancements by research and development to innovate the differentiator products and to stay ahead in the game. Key players operating in the global duodenal stents market include EndoChoice, Olympus, Merit Medical Systems, TaeWoong Medical, Medtronic, Cook Medical, Becton, Dickinson and Company, and Boston Scientific Corporation.