Biliary Stents Market

Biliary Stents Market By Product Type (Self Expanding Biliary Stents And Balloon Expanding Biliary Stents), Material (Metal And Plastic), Application (Biliary Leaks, Biliary Strictures, And Other Applications), End-User (Hospitals, Specialty Clinics, And Ambulatory Surgical Centers) and geography is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of biliary duct diseases and increasing demand for minimally invasive procedures across the globe     

The global biliary stents market is estimated to grow at a CAGR of 5.21% during the forecast period from 2024 to 2030. The demand for biliary stents is primarily being boosted by the rising prevalence of biliary duct diseases, due to various factors such as inflammation in the bile ducts, gallstones, biliary stricture, and bile duct cancers. Additionally, increasing demand for minimally invasive procedures is another key factor that is contributing to the growth of the Biliary stents market during the forecast period from 2024-2030. 

Biliary Stents Market Dynamics:

According to the latest data provided by the GLOBOCAN 2024, there were 122,491 new cases of gall bladder cancer in the year 2022, globally. Additionally according to the same source it was estimated that by 2045, the number of cases will reach to 210,033. Further, as per the data provided by GLOBOCAN 2024, there were 510,992 new cases of pancreatic cancer in 2022, globally. As per the same source the number is expected to increase to 910,697 by the year 2045. Thus the rising prevalence of bile duct diseases such as gallbladder cancers, gallstones, and pancreatic cancers, will create a need for the treatment and management of the bile duct diseases, thus resulting in the positive growth of the Biliary Stents market. 

Another driver for the biliary stents market is the growing demand for minimally invasive procedures. Minimally invasive procedures, such as endoscopic retrograde cholangiopancreatography (ERCP), offer a less invasive alternative to traditional open surgeries. These procedures involve the insertion of biliary stents through a small incision or natural orifice, and thus minimize the trauma to surrounding tissues, leading to quicker recovery times and reduced postoperative pain for patients. Thus, the advantages associated with minimally invasive procedures will help in boosting the growth of the Biliary Stents market during the forecast period.    

However, the high cost and complexity associated with the biliary stent surgical procedures and limited reimbursement policies for biliary stent procedures, are some of the key constraints that may limit the growth of the Biliary Stents market. 

Biliary Stents Market Segment Analysis:

Biliary Stents Market by Product Type (Self-expanding Biliary Stents and Balloon Expanding Biliary Stents), Material (Metal and Plastic), Application (Biliary leaks, Biliary Strictures, and Other Applications), End-User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers) and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the material segment of the biliary stents market, the metal category is estimated to amass a significant revenue share in the Biliary Stents Market in 2023. This can be attributed to the various advantages provided by metal biliary stents. Metal biliary stents have high radial strength, allowing them to maintain patency and resist compression, which is important in situations where there is external compression or when the stent needs to withstand pressure within the bile duct. Additionally, metal biliary stents come in a variety of diameters, making them suitable for addressing different types of strictures and obstructions. Further, the metal biliary stents are radiopaque and are visible under imaging modalities such as X-rays, the radiopaque nature of the metal stent helps healthcare providers in confirming the correct stent placement during the procedure. Therefore, the various advantages provided by the metal biliary stents will play a significant role in propelling the growth of this segment.  

Furthermore, as the demand for this segment grows, various novel products are getting regulatory approval from various regulatory organizations. For example, in May 2021, amg International GmbH, a wholly owned subsidiary of Q3 Medical Devices Limited, received CE Mark approval for its fully biodegradable metal stent, the UNITY-B balloon expandable biodegradable biliary stent (BEBS) for endoscopic use. 

Therefore, owing to the above-mentioned factors, the metal biliary stents category is expected to register significant growth, thereby driving the growth of the overall Biliary Stents market during the forecast period. 

North America Is Expected To Dominate The Overall Biliary Stents Market:

North America is expected to account for the highest proportion of the Biliary Stents Market in 2023, out of all regions. This is due to the presence of a large patient pool suffering from various bile duct diseases such as inflammation in the bile ducts, gallstones, biliary stricture, and bile duct cancers. Additionally, the presence of developed and sophisticated healthcare infrastructure, rising technological advancements, and a highly potent market in terms of product development, and launches, are some of the factors driving the growth of the Biliary Stents Market in North America.  

According to the data provided by the American Society of Clinical Oncology (ASCO) 2023, it was estimated that there were around 64,050 adults (33,130 men and 30,130 women) diagnosed with pancreatic cancer in the US, in the year 2023. Additionally, as per the data provided by the Centers for Disease Control and Prevention (CDC) 2023, it was estimated that 4.5 million people in the United States, were diagnosed with chronic liver disease in the year 2018. Inflammation caused during chronic liver disease may result in bile duct blockage, a biliary stent is placed to remove the obstruction. Thus, with the rising prevalence of various bile duct diseases such as gallbladder and bile duct cancers, gallstones, and biliary strictures will create a need for the treatment and management of these disorders, thus resulting in the positive growth of the Biliary Stents Market in the United States, which will eventually propel the Biliary Stents market in North America. 

Further, various key product launches and product approvals in the region are some of the other factors that are influencing the positive growth of the market in North America. For Example in December 2020, Boston Scientific Corporation received 510 (k) premarket Clearance from the US FDA  for its Advanix Biliary Plastic Stent. 

Therefore, the factors mentioned above, and the increasing product launches and product approvals in the region are some of the important factors that are thereby responsible for driving the overall market for Biliary Stents in North America during the forecast period. 

Biliary Stents Market Key Players:

Some of the key market players operating in the Biliary Stents market include Cook, Boston Scientific Corporation, CONMED Corporation, Olympus America, BD, Abbott Laboratories, Medtronic, TAEWOONG, Cordis, M.I.TECH., Neuromedex GmbH, Allium Ltd, Cantel Medical, ELLA - CS., ENDOCOR GmbH & CO. KG, Medi-Globe GmbH, Merit Medical Systems, ACE Medical Devices Pvt. Ltd., and Q3 Medical Company, and Veryan Medical.

Recent Developmental Activities In The Biliary Stents Market:

• In June 2022, Boston Scientific Corporation entered into a definitive agreement with   Synergy Innovation Co., Ltd. to purchase its majority shares (approx 64%) of M.I. Tech Co, Ltd. M.I.Tech is the creator of the HANAROSTENT™ technology, a family of conformable, non-vascular, self-expanding metal stents. 
• In May 2022, Veryan Medical entered into an agreement with Premier Inc. for the introduction of BioMimics 3D a next-generation biomimetic peripheral stent. 

Key Takeaways From The Biliary Stents Market Report Study

• Market size analysis for current Biliary Stents Market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Biliary Stents market.
• Various opportunities available for the other competitors in the Biliary Stents Market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Biliary Stents market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Biliary Stents market growth in the coming future?

Target Audience Who Can Be Benefited From This Biliary Stents Market Report Study

• Biliary Stents product providers
• Research organizations and consulting companies 
• Biliary Stents related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Biliary Stents 
• Various End-users who want to know more about the Biliary Stents Market and the latest technological developments in the Biliary Stents Market.

Frequently Asked Questions For The Biliary Stents Market:

1. What is meant by Biliary Stents?

Biliary Stents are medical devices used to treat and manage various conditions affecting the bile ducts. These stents are designed to provide support, relieve obstructions, and facilitate the normal flow of bile.

2. What is the market for Biliary Stents?

The global biliary stents market is estimated to grow at a CAGR of 5.21% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Biliary Stents market?

The Biliary Stents Market is slated to witness prosperity owing to factors such as the rising prevalence of biliary duct diseases, due to various factors such as inflammation in the bile ducts, gallstones, biliary stricture, and bile duct cancers. Additionally, increasing demand for minimally invasive procedures, and rising geriatric population are some of the key factors resulting in appreciable revenue growth in the Biliary Stents Market during the forecast period (2024-2030).

4. Who are the key players operating in the global Biliary Stents market?

Some of the key market players operating in the Biliary Stents Market include Cook, Boston Scientific Corporation, CONMED Corporation, Olympus America, BD, Abbott Laboratories, Medtronic, TAEWOONG, Cordis, M.I.TECH., Neuromedex GmbH, Allium Ltd, Cantel Medical, ELLA - CS., ENDOCOR GmbH & CO. KG, Medi-Globe GmbH, Merit Medical Systems, ACE Medical Devices Pvt. Ltd., Q3 Medical Company, and Veryan Medical.  

5. Which region has the highest share in the global Biliary Stents market?

North America is expected to dominate the overall Biliary Stents Market during the forecast period, 2023 to 2028. This is due to the presence of a large patient pool suffering from various bile duct diseases such as inflammation in the bile ducts, gallstones, biliary stricture, and bile duct cancers. Additionally, the presence of developed and sophisticated healthcare infrastructure, rising technological advancements, and a highly potent market in terms of product development, and launches are some of the factors driving the growth of the Biliary Stents Market in North America.