Growing demand for minimally-invasive surgeries for chronic disease treatment, increasing R&D expenditures by public & commercial organizations for the development of laryngeal stents, and growing awareness among patients regarding the use of laryngeal stents are factors stimulating market revenue growth.
/EIN News/ — United States, Rockville MD, Aug. 30, 2022 (GLOBE NEWSWIRE) — As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, worldwide demand for laryngeal stents is projected to rise at a high CAGR of 7.1% over the forecast period (2022-2027).
Lung cancer, asthma, and chronic obstructive pulmonary diseases are all on the rise, and these conditions are a burden for the healthcare sector. High prevalence of inflammatory disorders and increased use of anesthesia as a result of more surgeries are anticipated to drive the need for advanced equipment, positively affecting the growth of the market.
The market is anticipated to develop as a result of the rising demand for lengthy treatments associated with lung disorders in both children and adults, as well as emergency care for long-term illnesses. Laryngeal stents are widely used to treat a variety of airway and pulmonary illnesses. The use of bronchoscopy by medical professionals for the implantation of laryngeal stents has increased recently. Laryngeal stents are made of silicone, metal, and hybrid materials.
Laryngeal stents are also affordable and firm enough to withstand extrinsic compression. As a result, these stents are being used more often. Silicone stents can be easily modified before being implanted to match the patient’s airway anatomy. For the bronchoscopic therapy of post-tuberculosis tracheobronchial stenosis, silicone stents are routinely used.
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Demand for Laryngeal Stents is increasing as a Result of the Rising Prevalence of Certain Chronic Inflammatory Diseases.
According to Fact.MR, a market research and competitive intelligence provider, worldwide sales of laryngeal stents are projected to increase rapidly at a CAGR of 7.1% from 2022 to 2027.
The market for laryngeal stents is expanding as a result of factors such as the increasing prevalence of cardiovascular diseases, increased focus on medical device research and development expertise and adoption of cutting-edge healthcare technologies, an ever-increasing geriatric population base, and rising investments in the development of healthcare infrastructure, particularly in developing economies.
The medical devices for airway management known as laryngeal stents are used to strengthen the laryngeal muscles. These stents are utilized to widen airways that have become narrowed due to lung cancer, tuberculosis, infections, lymphoma, or other inflammatory disorders.
Other significant aspects that will contribute to the expansion of the arterial stents market are the rise in medical tourism, demand for endovascular stents, the desire for customized lung stents, and the rapid development of biodegradable and drug-eluting stents.
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Key Takeaways from Market Study
- The global laryngeal stents market is anticipated to reach US$75 million by 2027.
- Market in Japan is expected to increase at a CAGR of 4.5% through 2027.
- Demand for non-expandable stents is expected to rise at a CAGR of 6.7% from 2022 to 2027.
- Market in Canada is projected to expand at a CAGR of 6.5% over the forecast period.
Laryngeal Stents Industry Research Segmentation
- By Product :
- By End User :
- Ambulatory Surgery Centers
- By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Major firms have employed techniques such as mergers & acquisitions and strategic alliances to acquire a competitive edge in the market. Key companies are putting more emphasis on creating advanced products that are more accurate and effective.
For instance :
- In 2020, self-expanding metal stents (SEMS) called HANAROSTENT Esophagus TTS were created by the Massachusetts Institute of Technology and made available solely by Olympus in the United States.
Major Key Players
- B. Braun
- Terumo Corporation
- STENTYS SA
- MicroPort Scientific Corporation.
- Meril Life Sciences Pvt. Ltd.
- Vascular Concept.
Key companies are focusing on new product developments and product upgrades. Major participants in the global laryngeal stents market are emphasizing expanding their R&D expenditures more. This method’s main objective is the production of advanced laryngeal stents.
Laryngeal stent manufacturers are also acquiring and collaborating with numerous other businesses. These tactics help companies maintain the top rank in the industry. Market players are constantly working to create innovative and patient-focused products.
- Two video rhino-laryngoscopes were introduced by Olympus Corporation, a leader in the development and distribution of innovative technologies for surgical and medical operations. It is suggested that the ENF-VH2/V4 be specifically created for laryngological tests.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global laryngeal stents market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of product (self-expandable stents, non-expandable stents, and balloon-expandable stents) and end user (hospitals and ambulatory surgery centers), across five major regions (North America, Europe , Asia Pacific, Latin America, and MEA).
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