Biliary Stents Market Size to Surpass USD 762.42 Min by 2033

The global biliary stents market size surpassed USD 443.39 million in 2023 and is predicted to rake around USD 762.42 million by 2033, poised to grow at a CAGR of 5.57% from 2024 to 2033.

The biliary stents market is witnessing steady growth globally, driven by the increasing prevalence of biliary disorders such as bile duct cancer, gallstones, and biliary strictures. Biliary stents are medical devices used to maintain the patency of bile ducts, allowing the flow of bile from the liver to the small intestine. These stents are commonly deployed in patients with obstructive jaundice to relieve symptoms and improve the quality of life. The market for biliary stents comprises various types, including plastic stents, metal stents, and drug-eluting stents, catering to the diverse clinical needs of patients.

Biliary Stents Market Size 2024 to 2033

Key Points

North America captured the most significant share of the biliary stents market.
By product type, the metal segment has held the largest market share in 2023.
By application, the gallstone segment has held the largest segment of the biliary stents market.
By end use, the hospital segment held the dominating position in the market in 2023.

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Growth Factors

Several factors contribute to the growth of the biliary stents market. Firstly, the aging population worldwide is prone to biliary disorders, leading to an increased demand for therapeutic interventions such as biliary stent placement. Moreover, advancements in stent technology, including the development of self-expandable metal stents (SEMS) and bioresorbable stents, have enhanced the efficacy and safety of biliary interventions, driving market growth. Additionally, the rising prevalence of risk factors such as obesity, diabetes, and liver diseases further fuels the demand for biliary stents.

Region Insghts

The biliary stents market exhibits regional variations in terms of market size, adoption rates, and regulatory landscape. North America and Europe dominate the market owing to the high incidence of biliary disorders and the presence of well-established healthcare infrastructure. The Asia-Pacific region is witnessing significant growth attributed to the increasing awareness about biliary diseases, improving access to healthcare facilities, and rising healthcare expenditure. Emerging economies in Latin America and the Middle East & Africa are also experiencing a surge in demand for biliary stents due to the expanding patient population and improving healthcare facilities.

Biliary Stents Market Scope

Report Coverage	Details
Growth Rate from 2024 to 2033	CAGR of 5.57%
Global Market Size in 2023	USD 443.39 Million
Global Market Size by 2033	USD 762.42 Million
Largest Market	North America
Base Year	2023
Forecast Period	2024 to 2033
Segments Covered	By Type, By Application, and By End-use
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Biliary Stents Market Dynamics

Drivers

Several drivers propel the growth of the biliary stents market. Technological advancements in stent design, such as the introduction of fully covered stents and anti-migration features, enhance the safety and efficacy of biliary interventions, driving market growth. Furthermore, the growing adoption of minimally invasive procedures, such as endoscopic retrograde cholangiopancreatography (ERCP), contributes to the increased utilization of biliary stents. Moreover, favorable reimbursement policies for biliary interventions and increasing healthcare expenditure further stimulate market growth.

Restraints

Despite the favorable market dynamics, certain factors restrain the growth of the biliary stents market. One of the primary challenges is the risk of stent-related complications, including stent migration, occlusion, and infection, which may necessitate repeat interventions and adversely affect patient outcomes. Additionally, the high cost associated with advanced stent technologies and the lack of skilled healthcare professionals proficient in biliary interventions pose challenges to market expansion. Moreover, stringent regulatory requirements for stent approval and the presence of alternative treatment modalities, such as surgery and percutaneous drainage, limit market growth.

Opportunities

The biliary stents market presents several opportunities for market players to capitalize on. The growing focus on personalized medicine and the development of patient-specific stent solutions hold promise for the future of biliary interventions. Moreover, expanding indications for biliary stent placement, such as in benign biliary strictures and post-liver transplantation, broaden the market scope. Furthermore, strategic collaborations between healthcare providers, medical device manufacturers, and research institutions can foster innovation and accelerate the introduction of novel biliary stent technologies. Additionally, untapped markets in emerging economies offer lucrative opportunities for market expansion through targeted marketing initiatives and distribution partnerships.

Recent Developments

In January 2024, Olympus concluded the acquisition of Taewoong Medical Co. Ltd., a leading Korean gastrointestinal stent company.
In October 2022, Cordis, a global frontrunner in the innovation and production of interventional cardiovascular and endovascular technologies, revealed its acquisition of MedAlliance, a Switzerland-based firm renowned for pioneering drug-eluting balloons.
In June 2022, Boston Scientific announced its agreement to acquire a majority stake in M.I.Tech Co. Ltd. from Synergy Innovation Co. Ltd.