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.
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
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.
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.
Meril Life Sciences Pvt. Ltd.
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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Pharyngitis Market Insights: Global pharyngitis market is projected to bring in US$ 1,679.0 million revenue by 2026 end. Pharyngitis market size is expected to record a CAGR of 3.4% during the forecast period, 2017-2026. Pharyngitis commonly known as a sore throat is caused by viral or bacterial infection. The most common bacteria infecting throat is Group A streptococcus. Various clinical trials are being carried on to find the best formulation effective in treating sore throat.
Iliac Artery Stents Market : An iliac artery stent is small wire mesh which is used to treat the patient suffering from cardiovascular disorder. Iliac artery stent has its crucial application in holding open the iliac artery for the patent suffering from arteriosclerosis. Generally, iliac arteries are of two types, internal and external iliac arteries. The major role of the iliac artery is to carry blood from the heart to pelvis and legs. Atherosclerosis is a severe disease which affects the blood vessels such as iliac artery.
Arterial Stents Market : According to the latest analysis and report published by Fact.MR, the demand for arterial stents market is likely to grow at a steady pace between 2021 and 2031. Sensing the opportunities, key players are relying on innovations, sustainability, and product development to gain a major share in the market. For instance, in April 2021, BIOTRONIK announced the launch of its newest suite of tools for the more specialized implanting procedures in the His-bundle cardiac conduction system. The company plans to present the tools to cardiologists of the European Heart Rhythm Association’s (EHRA) online congress. Coronary Stents Market : Global sales of coronary stents were valued at around US$ 10.1 Bn in 2020. The global coronary stents market is projected to register 12.9% CAGR and reach a valuation of US$ 25.7 Bn by the end of 2028. Increasing consumption of drug eluting stents, which contribute around 80% share to the overall market size, is significantly driving market expansion.
Bioabsorbable Stents Market : The bioabsorbable stents market is predicted to grow at a moderate CAGR of 9.6% through 2032. The bioabsorbable stents market share is estimated to reach a value of nearly US$ 1 Billion by 2032 from US$ 372 Million in 2021. The benefit of such stents is their disintegrating within the body within a definite time period that has effected it as the most preferred mode of treatment, propelling the bioabsorbable stents market opportunities in the healthcare sector.
Laryngeal Mask Market : According to the latest research by Fact.MR, the laryngeal mask market is set to witness steady growth during 2021-2031. Demand for laryngeal mask expects to witness steady recovery in the short term, with an optimistic growth outlook in the long run. The growing advancement for the laryngeal mask market industry will offer lucrative opportunities in near future.
Laryngeal Papillomatosis Treatment Market : Laryngeal papillomatosis is also referred to as recurrent respiratory papillomatosis (RPP). Laryngeal papillomatosis is a rare disease which causes tumor in the aerodigestive tract. According to NORD, 10,000 Americans are suffering from laryngeal papillomatosis and 90% of patients prefer surgery for laryngeal papillomatosis treatment. By drug type, will gain the majority of market share in the global laryngeal papillomatosis treatment market though antiviral drugs are highly preferred by physicians for laryngeal papillomatosis treatment.
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