Global Colonic Stents Market, By Type (Self-expandable Metal Stents (SEMS), Nitinol Stents, and Elgiloy), By Indication (Colorectal Cancer/Bridge to Surgery, Benign Colonic Strictures, and Other Indications), By End-Use (Hospitals, and Specialty Clinics), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global colonic stents market in 2020 is estimated for more than US$ 7.0 Bn and expected to reach a value of US$ 14.5 Bn by 2028 with a significant CAGR of 9.6%
As per the report, colorectal cancer, or more commonly known as colon cancer, is the kind of cancer that occurs in the colon which is the large intestine or large bowel of the human body and the rectum is the channel that links the colon with the anus.
The significant surge in the incidences of colorectal or colon cancer among the population is one of the major factors that is propelling the growth of the global colonic stents market. The colonic stents are barrel-shaped medical equipment that is placed at the accurate spot so that it can keep the big bowel lumen unclosed and relieves the blockage.
The associated benefits with the colonic stents such as reliability as well as low cost and improved veracity also grab patient’s compliance in the healthcare industry. Owing to such factors, the colonic stents gain huge traction and thus witness heavy demand, thereby boosting the growth of the global colonic stents market.
Along with that, the constant research and development activities have resulted in various technological advancements in the colonic stents such as the usage of self-expandable alloy, making it more efficient and reliable, thus contributing to its stimulating demand in the global market. Hence, the global colonic stents market is projected to witness rapid growth over the forecast period.
In addition to that, the colonic stents promote their utility in both cases, either it is a partial or complete blockage in order to reduce the pressure on the bowel and diminish the obstruction, which further fuels its market growth.
However, there are numerous complications associated with colonic stents which may hamper the growth of the global colonic stents market in the upcoming future. Noticeably, the colonic stents have the risks of infections, or mild rectal bleeding, or transient anorectal pain associated with it, which obstructs its demand.
Moreover, the advanced self-expandable colonic stents may have complications such as migration and re-obstruction of the stent, which is also likely to hold back the growth of the global colonic stents market in the coming years.
Nevertheless, the colonic stents accelerate its demand in order to keep the bowel working actively, which augments its growth further in the global market. Therefore, the global colonic stents market is expected to observe swift growth in the coming years.
MMC Study identifies some of the key participating players in the colonic stents market globally are Boston Scientific Corporation, Cook Medical Inc., Ella-CS, Taewoong, MI-TECH, and Olympus Corporation, among others.
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