Published on : Dec 09, 2019
According to the report the growth of the market is backed by the growth in the number of patients suffering from blockage in their bile duct. Since, the lifestyle of the people is changing and inclining towards unhealthy food habits and stress work schedule, the health of people is deteriorating rapidly. It is because of this reason, they are facing blockage in their bile duct which further causes symptoms like jaundice and nausea. Looking at the exponential growth rate of such patients, medical instrument manufacturing are developing new biliary stents which as a result is stimulating the growth of global biliary stents market in the forecast period of 2018 to 2025.
The Market is Heavily Technology Driven
According to the report, the global biliary stents market is majorly driven by the technology and technological developments in the field of healthcare. For instance, development of HD cameras that can detect any anomaly in the bile duct allow the doctors to decide the size and shape of the stents that are to be implanted. Various similar developments are the fuel that propel the growth of global biliary stents market in the projected time frame of 2018 to 2025.
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Additionally, development of stents that monitors the health of bile duct while keeping it open also influence the growth of the market in estimated time frame. These stents are driven by IoT and provide real-time information about the well-being of the bile duct and stent itself. The incorporation of these data driven technologies is again a crucial aspect helping the global biliary stents market to grow exponentially from 2018 to 2025.
Metal Stents have Higher Demand than Plastic Stents
The type category of global biliary stents market is bifurcated into two, namely metal stents and plastic stents. Observing the people’s inclination towards the metal stents owing to the benefits such as no-reaction in the body, the longer operational life, and easy removal, the metal stents segment is projected to dominate the type category of global biliary stents market. Moreover, the cost-effective and easy availability of these stents also aids the segment to dominate the global biliary stents market from 2018 to 2025.
Additionally, these stents are of great help to the patient suffering from the blockage in the biliary duct and there is a massive surge in the growth of the patient who have their bile duct blocked. So, with the growing number of patients, the demand for metal stents has skyrocketed in past few years. Based on the hiked demand for the metal stents, the segment enjoys the prominence in the global biliary stents market.
Growth in the Gastrointestinal Surgeries Propel the Growth
Currently healthcare industry is witnessing several advancements in gastrointestinal surgeries. These surgeries are offering several treatments of pancreatic and biliary diseases and are calling for the use of biliary stents extensively. The use of these stents in gastrointestinal surgeries is the due to their low risk associated with the treatment. Moreover, these stents are also the mainstay for therapies like pancreas divisum therapy. Based on the growth of such surgeries and growing trend of minimally invasive surgeries for bile ducts, the global biliary stents market is experiencing a substantial growth from 2018 to 2025.
North America Remains Dominant between 2018 and 2025
On geographical front, the global biliary stents market mark its presence in North America, Europe, and Asia Pacific. Out of these regions, North America accounted for largest growth share in the projected time frame of 2018 to 2025. The growth of the region is attributed to numerous technological developments that are making stents more user-friendly and growing number of patients suffering from bile duct blockage.