The new report by Expert Market Research titled, ‘Global Prostate Stents Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global prostate stents market, assessing the market based on its segments like products, materials, end-users, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5%
The prostate stents industry is driven by the rising cases of prostatic obstructions resulting from the ageing process. In this regard, the rapidly expanding geriatric population worldwide and their inability to undergo surgeries due to comorbidities is driving the adoption of prostate stents, which is contributing to the growth of the market.
Prostate stents allow the passage of urine in cases of lower urinary tract symptoms (LUTS) and prostatic obstruction. Additionally, the benefits of prostate stents such as reduced requirement for hospitalisation, safe usage, easy administration using local anaesthesia, and non-infectious nature are projected to supplement the market growth in the coming years.
Industry Definition and Major Segments
Prostate stents are minimally invasive medical devices used by men who suffer from prostatic obstruction and are unable to undergo surgery. These obstructions are caused by hormonal changes that occur among men with their growing age that cause urinary retention. In this regard, the prostate stents are placed to keep the urethra open while urinating.
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The prostate stents industry, by product, can be segmented into:
- Permanent
- Temporary
Based on material, the market is classified into:
- Metal
- Plastic
- Others
On the basis of end-user, the market is divided into:
- Hospitals
- Specialty Clinics
- Research and Academic Institutes
- Others
The regional markets of prostate stents include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
There is a rise in demand for minimally invasive techniques such as prostatic stents because of the apprehensions towards surgeries and longer stays in hospital. In addition, the rapid development of healthcare facilities, along with the availability of improved diagnostic and treatment services for prostate-related ailments is also estimated to support the market growth in the forecast period.
Furthermore, the increasing investments in the development of bioabsorbable stents is expected to invigorate the market growth. The research and development activities and mergers and acquisitions among the key players are anticipated to provide impetus to the market in the forecast period.
Key Market Players
The major players in the market are Olympus Corporation, SRS Medical, Allium Medical, Becton, Dickinson and Company, and Med pro Medical B.V., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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