Metal Non-Covered Biliary Stent Market Analysis | Coherent Market Insights

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2. Metal Non-Covered Biliary Stent Market Analysis (2020-2027) • A biliary metal stent is defined as a flexible metallic tube, specially designed to hold the bile duct open, which has been partially or fully blocked. In the bile duct, as the blockage occurs, fluids like bilirubin (bile) are unable to flow smoothly into the duodenum that aids digestion. The technological advancements in biliary disorder treatment are expected to drive the growth of the global. metal non-covered biliary stent market • Key players in the industry are investing in research & development and commercialization of products for treatment of biliary disorders, which is expected to boost the growth of the global metal non-covered biliary stent market during the forecast period

3. S • . Additionally, the rising geriatric population and increasing R&D funding are propelling market growth. For instance, according to the World Health Organization (WHO), the global proportion of 60 years and older population was 12% in 2015 and is expected to increase to 22% by 2050. Thus, in 2015, the world's geriatric population was 900 million and this number is estimated to increase to 2 billion by 2050.

4. Global Metal Non-Covered Biliary Stent Market -  Impact of Coronavirus (Covid-19) Pandemic • The metal non-covered biliary stent market growth has been affected significantly due to the outbreak of COVID-19 as researchers and industry players are facing challenges in performing clinical trials during the pandemic. The metal non-covered biliary stent market is expected to regain momentum due to factors such as well-researched market strategies by key players and supportive government regulations. • The all-inclusive version of the report will include the impact of COVID-19 and the probable changes in the future outlook of the industry, by taking into account the technological, social, political, and economical parameters. • The metal non-covered biliary stent market is estimated to be valued at US$ 326.31 million in 2020 and is expected to register a CAGR of 4.4% during the forecast period (2020-2027).

5. Figure 1: Global Metal Non-Covered Biliary Stent Market Share (%) Analysis, By Type, 2020

6. The increasing research & development activities and product launches are expected to propel the growth of metal non-covered biliary stent market. • Key players in the market are investing in research & development and of novel products to strengthen their position in the metal non-covered biliary stent market, as supporting clinical evidences would accelerate the adoption of these stents. • For instance, according to a study published in the Journal of the American Medical Association (AMA) in March 2016, the placement of self-expanding metallic stent (cSEMS), which is a single covered biliary stent via ERCP (Endoscopic Retrograde Cholangiopancreatography) resolved benign restrictions of the pancreatic and biliary ducts. These factors are expected to propel growth of the metal non-covered biliary system market.

7. Furthermore, key industry players are adopting several strategies such as collaborations and joint agreements. For instance, in June 2018, Cook Medical partnered with Taewoong Medical to distribute its existing line of metal stents in the U.S. This new partnership includes the Niti-S through the Scope (TTS) Esophageal Stent, which is the flagship product of Taewoong’sNiti-S Self-Expandable line of metal gastrointestinal stents. Cook will be also be the distributor for Niti-S Biliary Stent in the U.S. • Moreover, in May 2019, Q3 Medical Devices Limited entered a distribution agreement with Medtronic Plc for its AECHIMEDES, a biodegradable biliary and pancreatic stent. This stent is specially designed as an alternative to the traditional plastic biliary stents. The aim behind this six-year exclusive agreement is to distribute ARCHIMEDES biodegradable stent in the western EU, Japan, and the U.S. with rights to other regions.

9. Global Metal Non-Covered Biliary Stent Market - Restraints • High cost associated with the stent insertion procedure is a major factor which is expected to hamper the growth of the global metal non-covered biliary stent market. Moreover, the rising adoption of substitutes for biliary surgeries is also expected to be a major threat to the growth of the metal non-covered biliary stent market.

10. Global Metal Non-Covered Biliary Stent Market – Regional Analysis • North America accounted for the highest share in the metal non-covered biliary stent market in 2019 and is expected to retain its dominance during the forecast period due to the growing healthcare expenditure and FDA approvals in the region. For instance, in March 2019, BrightWater Medical Inc. received the U.S. FDA approval for its ConvertX Biliary stents for the treatment of biliary duct obstructions. ConvertX is the first system to provide an option of percutaneous plastic biliary to interventional radiologists. • Moreover, strong presence of major market players and an increasing number of product launches are other factors responsible for the regional market growth.

11. For instance, in June 2020, Cook Medical launched two products; Zilver 635 Biliary Stent and Transluminal Biliary Biopsy Forceps in the U.S. for biliary duct procedures. These products are introduced in the market to restore the natural flow of the duct systems. • Furthermore, the market in Asia Pacific is projected to witness significant CAGR during the forecast period owing to research & development activities and government initiatives in the treatment of bile duct disorder. For instance, the Ministry of Health and Family Welfare, India is taking initiatives such as Infection Prevention and Control Programs which include bile duct, liver or pancreatic disorder surgeries.

12. Figure 2: Metal Non-Covered Biliary Stent Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027

13. Global Metal Non-Covered Biliary Stent Market - Competitive Landscape • Key players operating in the global metal non-covered biliary stent market are Boston Scientific, AMG International, C.R. Bard, Merit Medical, Cook Medical, PNN Medical, Teleflex, and Taewoong Medical.

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