Global Lung Stent Market Estimated to Witness Growth due to Rising Incidences of Lung Diseases

 
Global Lung Stent Market 

The global lung stent market provides stenting solutions to patients suffering from disorders related to the airways and lungs including lung cancer, chronic obstructive pulmonary disease (COPD), and emphysema. Lung stents help in keeping the airways or lungs open by acting as scaffolds to prevent collapsing after procedures like lung volume reduction surgery. They are made from either metal such as nitinol or silicone and are available in different sizes depending on the part of lung they are meant for. The increasing prevalence of lung cancer and other lung diseases has fuelled the demand for innovative lung stents that provide safe and effective treatment for blocked airways.

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.

Key players are focusing on new product launches and approvals to expand their lung stent portfolio. In 2021, Pulmonx Corporation received FDA approval for its Zephyr Endobronchial Valve for the treatment of severe emphysema. The company is also working on obtaining approval in other key markets like Europe and Japan.

North America dominates the Global Lung Stent Market Growth due to the growing bronchoscopy procedures in the US and Canada. However, Asia Pacific is expected to witness highest CAGR during the forecast period with countries like China, India, and Japan emerging as high potential markets. This can be attributed to rising healthcare expenditure, availability of low-cost procedures, and increasing focus of global players on tapping opportunities in Asia.

Market Drivers
Rising prevalence of lung cancer is a major factor boosting the demand for lung stents. According to statistics, around 2.1 million new cases of lung cancer are reported globally each year making it the most common type of cancer. Early detection helps to provide stent placement as an option in blockages caused due to cancerous tumors.

Technological advancements have resulted in the development of novel stents with features like biodegradability, drug eluting coatings, and customized designs as per lung morphology. This has enhanced safety, efficacy and outcomes of stenting procedures propelling the market growth.

Market Restraints
High costs associated with stent placement procedures limit their adoption in price sensitive developing regions. Prices range upwards from $3000 in the US. This is a major challenge especially in emerging Asian and Latin American markets.

Traditional operations involving surgery are still preferred over stenting in some parts of the world as patient's perception of surgery being superior still prevails. Lack of proper awareness about lung stents acts as a restraint to the market.

Segment Analysis
There are different types of lung stents used in the market based on the application and site of deployment. Metal lung stents dominate the market currently due to their durability and longer lifespan. Metal lung stents are widely used to treat malignant and non-malignant lung conditions such as lung cancer and emphysema. This sub-segment accounts for over 50% of the overall lung stent market share as metal stents are able to withstand lung pressure and structural stress over longer periods of time compared to other material based stents.

Global Analysis
North America currently dominates the global lung stent market and is expected to continue its dominance during the forecast period owing to the rising geriatric population, high prevalence of lung cancer, advanced healthcare infrastructure and availability of reimbursements. Asia Pacific is anticipated to witness fastest growth rate during the forecast period due to improving medical facilities, growing disposable income, increasing healthcare expenditure and rise in number of lung procedures being performed in major countries like China and India.

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