Market Size of Global Non-vascular Stents Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Non-vascular Stents Market Analysis
The non-vascular stents market studied is anticipated to grow with a CAGR of nearly 5.2%, during the forecast period.
COVID-19 is expected to have a significant impact on the growth of the market during the pandemic period. The volume of surgeries has significantly declined during the pandemic, owing to the stringent guidelines by the regulatory authorities to avoid all non-emergent surgeries. According to the article published in the National Institute of Health in October 2021, titled " The impact of COVID-19 on emergency general surgery admissions and operative volumes: A single-center experience," there has been a 42.8% decline in general surgery admission across the globe. Thus the non-vascular stents devices market has been significantly impacted by COVID-19.
Certain factors that are driving the market growth include the growing geriatric population and the prevalence of chronic and other diseases, and technological developments in non-vascular stents. According to the International Foundation for Gastrointestinal Disorders 2022 updates, it's estimated that 5-10% of the population has inflammatory bowel disease worldwide. Gastroenterologist visits in the United States were found to be 2.4 to 3.5 million yearly. Such factors are likely to boost the adoption of nonvascular stents, thereby contributing to the growth of the market.
According to the World Health Organization (WHO) data published in October 2021, By 2030, 1 in 6 people in the world will be aged 60 years or over. The share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion by 2030. By 2050, the world's population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Thus, the aging population increases the demand for non-vascular stents as the geriatric population are prone to developing chronic diseases.
Thus the rising prevalence of various diseases is expected to boost the rise in demand for non-vascular stents.
