15 December 2017 - - The gastrointestinal stents market is expected to reach USD 452.6m by 2022 from USD 353.4m in 2017, at a CAGR of 5.1% from 2017 to 2022, according to a report from Dublin-based Research and Markets.

A rising prevalence of gastrointestinal cancers and other digestive diseases and the rising preference for minimally invasive procedures are some of the major factors driving the growth of this market.

However, complications associated with gastrointestinal stent implementation are limiting the adoption of these stents.

On the basis of product, the pancreatic stents segment is expected to register the highest CAGR during the forecast period.

The high growth of this segment is attributed to the growing number of endoscopic retrograde cholangiopancreatography procedures and the rising prevalence of acute pancreatitis.

Based on material, the self-expanding metal stents segment is expected to grow at the highest CAGR during the forecast period.

The increasing adoption of these stents by hospitals and ASCs for the treatment of gastrointestinal diseases is the major factor supporting its growth during the forecast period.

The Asia Pacific region is expected to witness the highest CAGR during the forecast period, owing to the rapidly developing healthcare industry in China and India, growth in aging population, rising life expectancy and per capita income, increasing investments in the region by key market players, the expansion of private-sector hospitals and clinics to rural areas, availability of low-cost labor, and presence of a favorable regulatory environment.

Key players in this market include Becton, Dickinson and Co, Boston Scientific, C.R. Bard, Cantel Medical, Conmed, Cook Group, Diagmed Healthcare, Ella-CS, Endo-Flex, M.I. Tech, Merit Medical Systems, Micro-Tech (Nanjing), Olympus and Taewoong Medical.