Lung Stent Market

The global Lung Stent Market is valued at USD 190.2 Million in 2023 and is projected to reach a value of USD 345 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 6.9% between 2024 and 2032

Key Highlights

• In 2023, North America dominated the market with a 36.5% share, driven by the high prevalence of airway and lung diseases and supported by an advanced healthcare system and favorable reimbursement policies for medical devices
• Asia Pacific is anticipated to register the fastest growth rate during the forecast period
• In 2023, the Tracheal Stents segment led the market with a 69.5% revenue share due to the growing prevalence of respiratory disorders, rising demand for minimally invasive procedures, and increased awareness of the benefits of early diagnosis and treatment of respiratory conditions
• Based on End User, the Hospitals segment dominated the global market in 2023 with a 66.2% share due to the high number of respiratory disorder cases treated in hospitals, advanced healthcare infrastructure, and the availability of specialized medical professionals and equipment
• The increasing prevalence of lung diseases such as lung cancer and pneumonia are propelling the demand for metal Lung Stent. Such stents are utilized to open narrowed or blocked airways, resulting in improved breathing and reduced symptoms for patients. Moreover, advancements such as the introduction of drug-eluting capabilities in stents are further driving their adoption in the market

Regional Overview

North America Dominated Sales with a 36.5% share in 2023. This was driven by the high prevalence of airway and lung diseases such as asthma, chronic obstructive pulmonary disease (COPD), bronchiolitis, and bronchiectasis, bolstered by the region's advanced healthcare system and favorable reimbursement policies for medical devices like stents. According to the Asthma.ca 2023 annual report, Canada sees approximately 317 new asthma diagnoses daily, impacting over 3.8 million Canadians, making it the third most common chronic disease nationwide. Additionally, the American Cancer Society projects about 234,580 new cases of lung cancer in the U.S. for 2024.

Research efforts in airway stents are robust in the region. For example, a 2022 report from UMMC highlighted the development of custom-fitted 3D-printed stents that significantly improve breathing comfort for patients. These stents are tailored to fit snugly into specific airway configurations, enhancing treatment efficacy.

The presence of numerous companies manufacturing airway and Lung Stent contributes significantly to the region's large market size. For instance, Alaxo Airway Stents has expanded its footprint in North America with FDA-cleared and Health Canada-registered stent-based therapies aimed at improving nasal breathing for various health conditions, including sleep disorders and enhanced athletic performance. Their recent partnership with Portage College in Alberta, Canada, further solidifies their market position.

Asia Pacific is anticipated to observe major growth throughout the forecast period from 2024 to 2032 owing to the increasing research activities in the region, the rising government initiatives to promote awareness, availability of massive untapped markets, and the rise in demand for quality healthcare in the region.

Type Overview

In 2023, the Tracheal Stents segment dominated the global market with 69.5% of revenue share. Based on type, the global market is segmented into Tracheal Stents, Bronchial Stents, and Laryngeal Stents.

The Tracheobronchial stents are utilized in the treatment of a range of respiratory disorders, including lung cancer, tracheal stenosis, and tracheobronchial strictures. Such stents are used to provide palliative care to patients with advanced lung disease & tumors, to help them breathe more easily and improve their quality of life. The tracheobronchial stents segment growth is driven by the growing prevalence of respiratory disorders and the rising demand for minimally invasive procedures. The aging population base and the increasing awareness of the benefits of early diagnosis & treatment of respiratory disorders are also contributing to the growth of the segment growth.

The bronchial stent segment is expected to exhibit the highest compound annual growth rate during the forecast period, primarily due to widespread adoption of bronchial stents in treating respiratory disorders. Bronchial stents are extensively used for managing conditions like hemoptysis following lung cancer & progressive dyspnea, leading to heightened demand. Moreover, bronchial stents are preferred for their ability to provide palliative symptom relief, minimal invasiveness, and reduced surgical risks.

Top Trends

• The rising incidence of respiratory disorders like lung cancer and chronic obstructive pulmonary disease (COPD) is driving increased demand for tracheobronchial stents. Furthermore, advancements in stent materials and designs have enhanced their efficacy and longevity, thereby boosting their adoption in the market.
• There is a growing emphasis on the development of bioresorbable stents, designed to gradually dissolve over time without needing removal procedures. This emerging trend is gaining traction due to several benefits such as reduced risk of complications, enhanced patient comfort, and cost-effectiveness. Manufacturers are actively investing in research and development to introduce innovative bioresorbable stents to market.
• Metal Lung Stent dominates the global market in terms of material type. Typically made from materials like stainless steel or nitinol, these stents offer excellent radial force and flexibility. Their durability and ability to maintain airway patency over an extended period make metal Lung Stent highly preferred.

Advancements in Airway Stenting: Innovations and Clinical Milestones

• Boston Scientific's Eluvia™ Stent Shows Superiority in PAD Treatment: Boston Scientific Corporation presented compelling data at the Vascular InterVentional Advances (VIVA) meeting, demonstrating the Eluvia™ Drug-Eluting Vascular Stent System's superiority over bare metal stents in treating peripheral artery disease (PAD). Results from the EMINENT trial, involving 775 patients, revealed a primary patency rate of 85.4% for Eluvia versus 76.3% for bare metal stents (p=0.0087), marking an improvement. Additionally, sustained clinical improvement without reintervention was seen in 83.0% of patients with Eluvia compared to 76.6% with bare metal stents (p=0.0450).
• FDA Approval of Cleveland Clinic's 3D-Printed Airway Stents: The FDA cleared patient-specific airway stents developed by Dr. Tom Gildea and his team at Cleveland Clinic, utilizing advanced 3D printing technology. These stents are customized using CT scans and proprietary software. It’s estimated that about 30,000 airway stents will be implanted in the U.S. in 2020. This innovative approach allows for precise fitting tailored to individual patient anatomy, representing a significant advancement in personalized medicine.
• Mount Sinai's Advancement in 3D-Printed Airway Stents: Mount Sinai Health System has pioneered the use of custom 3D-printed stents for treating complex airway obstructions. This innovative technology, guided by interventional pulmonologists, aims to replace conventional methods with more precise solutions. By bronchoscopically placing 3D-printed stents, Mount Sinai is ensuring a comfortable fit for patients with central airway obstructions from benign or malignant causes, marking a significant step forward in respiratory care.
• First Airway Stent Procedure at Keesler Air Force Base: Maj. Derrell Nettlow performed the Air Force’s inaugural airway stent procedure at Keesler Air Force Base, addressing critical cases of metastatic lung cancer where conventional treatments were insufficient. This milestone intervention provided immediate relief by opening obstructed airways with palliative airway stents, demonstrating the growing role of stent technology in improving the quality of life for patients with severe respiratory conditions.

Premium Insights

The Lung Stent market is poised for significant growth due to the widespread prevalence of COPD (chronic obstructive pulmonary disease) and post-tuberculosis stenosis worldwide. COPD, a leading cause of morbidity and mortality, often leads to significant airway obstruction. For instance, a 2022 CDC report indicates that more than 150,000 Americans die annually from COPD. Additionally, over 90% of COPD-related deaths occur in middle- and low-income countries, with no current cure for the disease. Lung Stent provide less invasive treatment options by maintaining airway patency and improving airflow, thereby reducing symptoms and enhancing patients' quality of life. Consequently, the expanding patient population will drive increased demand for these products, further fueling market growth.

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Market Dynamics

Increasing Preference for Minimally Invasive Procedures to Drive Market

The global market is experiencing robust growth driven primarily by the increasing demand for minimally invasive procedures. Across medical disciplines, there has been a notable shift towards minimally invasive techniques due to their significant advantages over traditional open surgeries. Such procedures are associated with reduced pain, fewer complications, lower infection risks, shorter hospital stays, and quicker recovery times for patients. Lung stenting procedures, conducted via bronchoscopy or thoracoscopy, enable the minimally invasive treatment of various lung conditions. These stents are placed through small incisions or natural openings to widen or maintain the openness of airways. For e.g., they are frequently employed to alleviate central airway obstructions caused by conditions such as lung cancer, COPD, or tumors, thereby restoring airflow and enhancing breathing in patients. The non-invasive nature and positive outcomes associated with Lung Stent has established them as the preferred standard of care for managing diverse lung diseases characterized by airway obstructions. This trend underscores their growing adoption and prominence in medical practice worldwide.

Advancements in Stent Designs to Propel Market

Technological advancements are profoundly influencing the global market. These small tubes are inserted into the lung airways through minimally invasive procedures to maintain airflow in conditions such as lung cancer and chronic obstructive pulmonary disease (COPD). Recent developments in stent designs have significantly enhanced lung function improvement for patients. New self-expanding stent designs, crafted from nickel-titanium alloy or stainless steel, offer superior radial force to precisely expand the airways upon placement and maintain their openness over extended periods, greatly alleviating symptoms and enhancing patients' quality of life. Additionally, innovations in material coatings have brought substantial benefits. Stents now come with coatings capable of drug elution, gradually releasing chemotherapy drugs or antibiotics directly at the implantation site over months.

Competitive Landscape

The global market shows a moderate level of competitiveness due to the presence of both local and global companies. Key players like Boston Scientific Corporation, Merit Medical Systems, Inc., and Cook Medical are prominent in this sector. These companies are actively pursuing growth through strategies such as launching new products, engaging in mergers & acquisitions, and forming partnerships and collaborations. These efforts significantly contribute to the market's expansion and development.

For instance, in June 2022, Boston Scientific Corporation revealed a definitive agreement with Synergy Innovation Co., Ltd., to acquire its majority stake (approximately 64%) in M.I.Tech Co., Ltd., a publicly traded Korean company specializing in medical devices for endoscopic and urologic procedures. M.I.Tech is renowned for its HANAROSTENT™ technology, a series of flexible, self-expanding metal stents. Boston Scientific has been distributing these stents in Japan since 2015. The transaction involves a purchase price of KRW 14,500 per share, totaling KRW 291.2 billion (approximately $230 million at current exchange rates), subject to standard closing adjustments.

Recent Market Developments

Olympus Corporation Expands MedTech Leadership with Acquisition of Taewoong Medical Co., Ltd.

• In January 2024, Olympus Corporation, a leading MedTech company globally, completed the acquisition of Taewoong Medical Co., Ltd., a Korean firm specializing in medical devices such as gastrointestinal metallic stents. Taewoong Medical will function as a subsidiary under Olympus, bolstering its capabilities in GI EndoTherapy products. The acquisition, valued at approximately $370 million in cash, includes an initial payment of $255.5 million upon closure, with up to $114.5 million in additional payments contingent on achieving technical and revenue milestones over the next two years. This strategic acquisition aims to enhance Olympus' capacity to deliver comprehensive healthcare solutions, thereby enhancing patient outcomes and elevating standards of care in the field.

Micro-Tech Endoscopy USA Partners with Thoracent to Distribute Innovative Tracheal Stent System in the United States

• In July 2022, Micro-Tech Endoscopy USA, recognized for its innovations in gastroenterology diagnostic and therapeutic devices, announced a distribution partnership with Thoracent, a leader in pulmonology. Under the agreement, Thoracent will exclusively distribute Micro-Tech's Y-Shaped Tracheal Stent System in the United States. This system, featuring a flexible, self-expanding design and an advanced over-the-wire delivery mechanism, is specifically designed to aid in the non-invasive treatment of tracheal airway tumors.

The global Lung Stent market can be categorized as Type, Material, Product, End User, and Region.