Press Release   -

Lung Stent Market to Reach USD 345 Million By 2032

According to analysts at Vantage Market Research, the Global Lung Stent Market size is worth USD 190.2 Million in 2023 and is projected to reach USD 345 Million by 2032, growing at a CAGR (Compound Annual Growth Rate) of 6.9% from 2024 to 2032. The Lung Stent Market is driven by the rising incidence of respiratory diseases, technological advancements in stent design, and the aging population requiring advanced treatments. Additionally, the increasing preference for minimally invasive procedures, improved healthcare infrastructure, and growing applications of lung stents further stimulate the market growth.

Market Overview

The global market is experiencing significant growth, primarily fueled by the rising demand for minimally invasive procedures. There has been a noticeable shift across medical fields towards these techniques due to their benefits over traditional surgeries, including reduced pain, fewer complications, lower infection risks, shorter hospital stays, and faster recovery. Lung stenting, performed via bronchoscopy or thoracoscopy, allows for minimally invasive treatment of various lung conditions by placing stents through small incisions or natural openings to keep airways open. These stents are often used to relieve central airway obstructions from conditions such as lung cancer, COPD, or tumors, improving airflow and breathing. This non-invasive approach and its effective outcomes have made lung stenting the preferred standard of care for managing airway obstructions.

Technological advancements are further driving market growth, with new stent designs enhancing patient outcomes. Modern self-expanding stents made from nickel-titanium alloy or stainless steel provide superior radial force to expand and maintain airway openness. Innovations in stent coatings, including drug-eluting options, allow for the gradual release of chemotherapy drugs or antibiotics directly at the implantation site, offering additional therapeutic benefits.

Micro-Tech Partners with Thoracent for US Tracheal Stent Distribution

Micro-Tech Endoscopy USA, known for its cutting-edge gastroenterology devices, formed a distribution partnership with Thoracent, a prominent name in pulmonology. According to the agreement, Thoracent will be the exclusive distributor of Micro-Tech's Y-Shaped Tracheal Stent System in the US This system, which boasts a flexible, self-expanding design and a sophisticated over-the-wire delivery mechanism, is intended for the non-invasive treatment of tracheal airway tumors.

Key Takeaways from the Report

• In 2023, North America held a dominant position in the market with a 36.5% share, primarily due to the high prevalence of airway and lung diseases, an advanced healthcare system, and favorable reimbursement policies for medical devices
• The Asia Pacific region is expected to show the fastest growth rate during the forecast period
• In 2023, the Tracheal Stents segment led the market with a 69.5% revenue share, driven by the increasing prevalence of respiratory disorders, a rising demand for minimally invasive procedures, and greater awareness of the benefits of early diagnosis and treatment of respiratory conditions
• Based on end-user analysis, the Hospitals segment dominated the global market in 2023 with a 66.2% share, attributed to the high number of respiratory disorder cases treated in hospitals, advanced healthcare infrastructure, and the availability of specialized medical professionals and equipment

Top Companies

• Boston Scientific Corporation
• Micro-Tech Co. Ltd.
• Novatech SA
• Taewoong Medical Co. Ltd. (Olympus Corporation)
• Merit Medical Systems Inc.
• Cook Group
• Boston Medical Products Inc.
• E. Benson Hood Laboratories Inc.
• ENDO-FLEX GmbH
• Stening Srl
• EFER ENDOSCOPY

Latest News

Olympus Boosts MedTech Expertise with Taewoong Medical Acquisition

• In January 2024, Olympus Corporation, a global leader in MedTech, acquired Taewoong Medical Co., Ltd., a Korean company known for its gastrointestinal metallic stents. This $370 million acquisition, including an initial $255.5 million payment and up to $114.5 million based on future milestones, will integrate Taewoong Medical as a subsidiary, strengthening Olympus' GI EndoTherapy product line and advancing its ability to provide comprehensive healthcare solutions and improved patient outcomes.

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.