Pancreatic and Biliary Stents Market Size

Pancreatic & Biliary Stents Market Analysis

The pancreatic and biliary stents market is expected to register a CAGR of 6.05%, over the forecast period.

The outbreak of the COVID-19 pandemic impacted the global healthcare system and the biliary stents market. For instance, an article published in the journal WJCC, in October 2021, reported that endoscopic ERCP and percutaneous PTC procedures were associated with high rates of viral transmission. Thus, initially, the high number of COVID-19 cases led to increased transmission of infections that led to the suspension of non-emergency surgical procedures including ERCP and PTC procedures, imposed by the government restrictions which impacted the growth of the studied market. However, in the upcoming years, it is anticipated that declining COVID-19 infection rates and the resumption of ERCP and other surgical procedures may increase the demand for the biliary stent, and thus the market is expected to witness significant growth over the forecast period.

The factors that are driving the growth of this market are an increase in the prevalence of pancreatic cancer and biliary duct diseases, technological advancements in stents and endosonographic, and the increasing popularity of minimally invasive surgery. For instance, according to the Globocan 2020 report, globally 132.5 thousand gallbladder cancer cases will be recorded in 2025, and this number is expected to increase to 150.9 thousand by 2030 and to 190 thousand by 2040. Bile duct cancer can lead to the enlargement of a tumor blocking the bile duct. Hence, the placement of a biliary stent can assist in the optimum drainage of the bile; hence, the rising burden of gallbladder cancer is expected to boost market growth. Similarly, an article published by the journal AHPS, in August 2022, reported that high incidence and mortality rates of gallbladder, extrahepatic bile duct, and pancreatic cancer are steadily increasing in Korea. Thus, a high prevalence of gallbladder cancer is expected to drive the demand for biliary stents, thereby driving the growth of the studied market over the forecast period.

Furthermore, with the introduction of new technologies for gastrointestinal surgeries such as bioabsorbable stents and self-expanding metal stents (SEMS), the use of stents for the treatment of pancreatic and biliary diseases is gaining popularity. For instance, in October 2021, Boston Scientific received the 510 (k) US FDA clearance and CE mark approval to market its Advanix biliary plastic stents. Thus, such product launches are driving the growth of the studied market. Moreover, the increasing popularity of minimally invasive surgery (MIS) due to the low risk associated with it compared to open surgeries is increasing the preference for MIS over normal surgeries and thus, fueling the growth of the studied market.

Therefore, due to the increase in the prevalence of pancreatic cancer and biliary duct diseases, technological advancements in stents and endosonography, and increasing popularity of minimally invasive surgery, the pancreatic and biliary market is anticipated to grow over the forecast period. However, the concerns regarding the high cost associated with procedural complexities, and stringent government regulations may slow down the growth of the studied market over the forecast period.