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The global gastrointestinal stents market reached a value of US$ 402.5 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 3.6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A gastrointestinal stent refers to an artificial tube graft that is inserted in the body to prevent blockages in the gullet, stomach and small intestine. It is an expandable metal or a plastic mesh tube that is placed in an anatomical duct, such as bile ducts, esophagus, bowel or colon, and blockages due to cancerous tissues. It aims to remove the obstruction and reduce the pressure caused by inflammation. Some of the most common types of gastrointestinal stents include biliary, colonic, duodenal, esophageal and pancreatic stents.
The rising prevalence of colorectal cancer across the globe is one of the key factors driving the growth of the market. Furthermore, an increasing geriatric population suffering from gastrointestinal diseases, such as bowel ailments, diverticulosis and gastrointestinal malignancies, is also providing a boost to the market growth. Additionally, the growing preference for minimally invasive (MI) surgical procedures, along with the rising health consciousness among the masses, is creating a significant impact on the market. In comparison to the traditional open surgery procedures, gastrointestinal stenting involves low risk of infections, minimal loss of blood and quick recuperation period. Moreover, various technological advancements, including the development of bio-absorbable and nitinol material-based stents offering a high degree of flexibility and kink-resistance, is acting as another growth-inducing factor. Other factors, including significant growth in the healthcare infrastructure, the implementation of favourable government policies and extensive research and development (R&D) activities, are projected to drive the market further.
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The competitive landscape of the industry has also been examined with some of the key players being Becton, Dickinson and Company, Boston Scientific Corporation, Cantel Medical Corporation, Conmed Corporation, Cook Group Incorporated, ELLA-CS, S.R.O., Hobbs Medical Inc., Merit Medical Systems Inc., Olympus Corporation, Taewoong Medical Co. Ltd., etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Technology Type, Material, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Becton, Dickinson and Company, Boston Scientific Corporation, Cantel Medical Corporation, Conmed Corporation, Cook Group Incorporated, ELLA-CS, S.R.O., Hobbs Medical Inc., Merit Medical Systems Inc., Olympus Corporation and Taewoong Medical Co. Ltd.|
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