Global Lung Stent Market Poised to Witness Steady Growth due to Rising Prevalence of Lung Diseases

Global Lung Stent Market 

The global lung stent market is a highly specialized one, with lung stents being medical devices inserted in the airways of lungs to relieve blockages. Lung stents find applications in treating conditions like lung cancer, COPD, and others that constrict airways. They help restore airflow and breathing by enlarging the air passageways. Compared to other alternatives like bronchoplasty, lung stenting is a minimally invasive procedure with advantages like faster recovery.

The Global Lung Stent Market is estimated to be valued at US$ 206.5 million in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the global lung stent market are Boston Scientific, Cook Medical, Medtronic, Taewoong Medical, Hospitech, Bess, Endo-Flex, Efer Endoscopy, W. L. Gore & Associates, BD, Edwards Lifesciences, Healthy Medical Corporation, Pulmonx Corporation, Meril Life Sciences Pvt. Ltd and C. R. Bard Inc. Growing demand for minimally invasive procedures and technological advancements in lung stents are fueling growth opportunities in the market. North America dominates the global lung stent market currently. However, Asia Pacific is expected to exhibit lucrative growth over the forecast period owing to the rising lung disease prevalence, growing healthcare infrastructure, and increasing focus on minimally invasive procedures in the region.

Market Drivers

The key driver contributing to the growth of the Global Lung Stent Market Growth  is the rising prevalence of lung diseases worldwide. Conditions like lung cancer, COPD, and emphysema are on the rise due to factors like rapid urbanization, pollution, smoking, aging population etc. Lung stents help improve quality of life of patients suffering from lung conditions by restoring air passageways. Technological advancements leading to development of improved lung stenting solutions is another major factor fueling the market growth. Growing preference for minimally invasive procedures over complex open surgeries due to benefits like less pain, scars and quicker recovery is boosting the adoption of lung stents globally.

PEST Analysis
Political: The government policies related to healthcare expenditure and reimbursement scenarios impact the market. Regulations related to new product approval and import & export of medical devices influence the market.

Economic: Growing healthcare expenditure, rise in disposable income, and availability of medical insurance/coverage are some key economic factors driving the market.

Social: Increasing incidence of lung cancer and respiratory diseases, growing aging population, and rising awareness about lung disease treatment options support market growth.

Technological: Developments in lung stent technologies such as drug-eluting stents, biodegradable stents, and self-expandable stents are helping expand applications and driving the market. Advancements in material science facilitate improvements in stent designs.

The North America region dominates the global lung stent market in terms of value. The high healthcare expenditure, presence of major manufacturers and research centers, and growing incidence of lung cancer and COPD contribute to the region's large share.

The Asia Pacific region is projected to be the fastest growing market during the forecast period. This is attributed to factors such as rising aging population, growing healthcare expenditure, developing healthcare infrastructure, and increasing incidence of lung cancer and respiratory diseases in countries like China, India, and Japan.

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