The latest market report published by Credence Research “Global Tracheal Stent Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global Tracheal Stent market generated revenue of around USD 101.2 million in 2020 and anticipated to grow at a CAGR of over 7.2% during the forecast period from 2021 to 2027 to reach around USD 164.6 million in 2027.
A stent is a type of hollow tube that is placed in the airway of the patient. The stent open ups the narrowed area in the airway and helps the person breathe. Tracheal stent is generally placed in trachea to avoid the blockage in trachea region. These are absorbable or non-absorbable tubes which have various shapes, sizes and available in various materials.
Key Trends in Global Tracheal Stent Market
Increase in Tracheal Diseases
Trachea cancer is one of the rare cancers and makes up approximately 0.01%-0.4% of the total cancer cases. The common type of tracheal cancer is adenoid cystic carcinoma and squamous cell carcinoma. Tracheal cancer annual incidence is about 0.2 cases per 100,000 people. One of the causes of tracheal cancer is excessive smoking. The rise in the number of persons smoking is driving the tracheal stent market. Also, the rise in tracheal stenosis and Tracheomalacia is fuel the demand for tracheal stent market. According to a study carried out in England, it was estimated that annual population of 30,030 are at risk of developing tracheal stenosis, and the incidence rate of post-intubation laryngotracheal stenosis was calculated as 4.6%. This increase in tracheal diseases fuels the demand for Tracheal Stent market.
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Impact of COVID 19 on Global Tracheal Stent Market
Tracheal Stent market growth is likely to be slowed down by the COVID-19 pandemic due to the social distancing, trade restrictions, and lockdowns which had massive disturbances in the global supply chain networks. The fear among people due to COVID situation, the stringent regulations followed in hospitals due to COVID, and the regulation in various countries for travel has hampered the tracheal stent market during the COVID-19 pandemic. COVID 19 has resulted in decline of about 10% in total revenue generated by the global Tracheal Stent market as compare to 2019.
Global Tracheal Stent Market by Type Insights
Plastic Tracheal Stent Metal Tracheal Stent and others are main types of Tracheal Stent market. Metal Tracheal Stent is expected to dominate the type segment due to its features such as durability, easily accessible, etc over other type of stents.
Metal Tracheal Stent Segment to dominate the global Tracheal Stent Market
Global Tracheal Stent Market by Type, 2020
Global Tracheal Stent Market by Application Insights
Based on application, the Tracheal Stent market is segmented into hospitals, ambulatory surgical centers, medical college, and others. Ambulatory Surgical Centers is expected to show high growth rate owing to the increase in preference for minimally invasive surgeries.
Global Tracheal Stent Market Share by Application, 2020
Global Tracheal Stent Market by Regional Insights
The largest market for Tracheal Stent is North America and it accounted for about 35% of the total revenue generated. The growing initiatives by government of U.S., rising surgeries regarding respiratory track, highly developed healthcare infrastructure, and highly developed technologies is expected to fuel the demand for Tracheal Stent market in North America. Asia Pacific is expected to show a high growth rate owing to the rapidly developing healthcare infrastructure, rise in minimally invasive surgeries, etc.
Global Tracheal Stent Market Competitive Landscape
The main players of the global Tracheal Stent market include M.I Tech, EFER Endoscopy, EndoChoice, Asept Inmed, Novatech, Infinity Medical, Aohua Endoscopy, Boston Scientific, Stening, Endo-Flex, and Others. The report covers detailed profiles of the key players.
Global Tracheal Stent Market, Company Distribution Network, 2020
Global Tracheal Stent Market by Type, 2015 – 2027
· Metal Tracheal Stent
· Plastic Tracheal Stent
Global Tracheal Stent Market by Application, 2015 – 2027
· Medical Colleges
· Ambulatory Surgical Centers
Global Tracheal Stent Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Tracheal Stent Market: Key Players
· M.I Tech
· Asept Inmed
· EFER Endoscopy
· Aohua Endoscopy
· Boston Scientific
· Infinity Medical