Colonic stent is a hollow tube, made up of an alloy or a flexible metal which keeps the lumen of the large bowel open when it is blocked by a stricture. Colonic stent will create a channel through the blockage and allow the bowel to function more easily and thus reduce pain. The Global Colonic Stents Market is expected to grow at a CAGR of just under 6% during the forecast period (2019-2028).

The global colonic stents market growth is driven by rising incidences of colorectal cancer. According to the American Cancer Society, it is estimated that there are about 101,420 new cases of colon cancer and 44,180 new cases of rectal cancer in the United States for 2019. Overall, the lifetime risk of developing colorectal cancer is about 1 in 22 (4.49%) for men and 1 in 24 (4.15%) for women. This risk is slightly lower in women than in men.

Top Driver: Increase in prevalence of colorectal cancer is one of the key drivers

Increase in prevalence of colorectal cancer is one of the key drivers of the colonic stent market. Rise in prevalence of inherited syndromes and people with a history of inflammatory bowel disease (such as ulcerative colitis or Crohn’s disease) have led to corresponding growth in number of patients suffering from colorectal cancer. These are expected to be key factors driving the global colonic stents market during the forecast period.

Technological advancements associated with colonic stents are also driving the colonic stent market. Use of self-expanding alloys in the manufacturing of stents has been increasing. This factor is expected to fuel the global colonic stents market during the forecast period.

The colorectal cancer screening tests market is shifting from invasive monitoring devices to non-invasive monitoring devices. Despite various advantages of invasive colorectal cancer screening such as low cost, reliability, and accuracy, there is a certain risk of infection coupled with greater recovery time associated with these invasive devices. Due to such complications, non-invasive techniques are currently being developed as an alternative

Self-expandable metal stents to Make Crucial Contribution to Growth of Global Clonic Stent Market

Based on product, the colonic stents market is segmented into self-expandable metal stents (SEMS) such as nitinol stents, and elgiloy. Among these, the nitinol stent accounted for the largest market share in 2018, due to its high preference because of its better flexibility. Nitinol is one of the most widely used alloys in stents manufacturing which is used against acute colonic obstruction. Nitinol is a mixture of nickel and titanium metals which improves its flexibility and can be used for stenting sharply angulated regions with lesser radial force as compared to stents made of other metals.  On the other hand, the elgiloy stent segment is expected to grow at the fastest CAGR during the forecast period (2019-2028), due to its capability of generating high radial forces and corrosion resistant nature.

On the basis of indication, the market is segmented into colorectal cancer, benign colonic strictures, and others. Among these, the colorectal cancer segment occupies the dominant market share in 2018 and is estimated to dominate during the forecast period (2020-2027), owing to rising use of metallic stents as a channel to surgery in patients suffering from acute colonic obstruction. Colorectal cancer is the third most common cancer in the U.S. and one of the major causes of cancer-related death especially in western regions. About 55% of colorectal cancer cases occur in countries characterized by high or very high indices of development and income. About 95% of colorectal cancers are adenocarcinomas. Other types of cancers which minor incidence rates include mucinous carcinomas and adenosquamous carcinomas. The 5-year colorectal cancer prevalence pool is estimated to reach 5.42 million by 2025 from 4.41 million in 2017. The overall cure rate of colorectal cancer has not improved dramatically in the last decade, 5-year survival remaining at is approximately at 60% in developing countries.

Rising incidences of colorectal cancer and benign strictures in the US to Benefit North America Market

North America is dominating the global colonic stents market accounting for largest market share in 2018, owing to rising incidences of colorectal cancer and benign strictures in the US. In the United States, colorectal cancer is the third most common cancer diagnosed in both men and women each year, excluding skin cancer. According to cancer.net data, in 2018, an estimated 145,600 adults in the United States were diagnosed with colorectal cancer. It includes 101,420 new cases of colon cancer (51,690 men and 49,730 women) and 44,180 new cases of rectal cancer (26,810 men and 17,370 women). Hence, with rising cases of cancer, the demand for the diagnosis and treatment is rising, which leads to growth of the market in this region. In addition, rising demand for minimally invasive procedures and technological advancements to develop more compatible metallic stents are also boosting the market growth of colonic stents during the forecast period (2020-2027).

Players to Focus on Expanding Applications in Global Clonic Stent Market

The Colonic Stents market is dominated by few major players with including Boston Scientific Corporation, Cook Medical Inc., Ella-CS Ltd., TaeWoong Medical, MI-TECH, and Olympus Corporation. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the Colonic Stents market globally. For instance,

Olympus launched : In May 2019, Olympus launched two additional HANAROSTENT self-expanding metal stents (SEMS) at Digestive Disease Week (DDW) 2019. These new additions to the Olympus EndoTherapy portfolio for advanced procedures include the 510(k) cleared HANAROSTENT LowAx Colonic and Duodenal Uncovered Stents made by M.I. Tech and now distributed exclusively through Olympus in the U.S.

Cook Medical:  In June 2018, Cook Medical has partnered with Taewoong Medical to distribute a selection of stents into the U.S. The new partnership includes the Niti-S™ Through the Scope (TTS) Esophageal Stent, the flagship product of the South Korean company’s Niti-S Self-Expandable line of metal GI stents.

Scope of the Report

By Product Type

• Self-Expandable Metal Stents
• Nitinol Stent
• Elgiloy

By Indication

• Colorectal Cancer/Bridge to Surgery
• Benign Colonic Strictures
• Other Indications

By End-User

• Hospitals
• Specialty Clinics

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report 

1. It provides a technological development map over time to understand the growth rate of the industry.

2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.

3. It renders definite analysis for changing competitive dynamics.

4. It builds a seven-year estimate based on how the market is predicted to grow.