Veterinary Stents Market Size To Reach $56.88 Million By 2030

Veterinary Stents Market Growth & Trends

The global veterinary stents market size is expected to reach USD 56.88 million by 2030, growing at a CAGR of 6.74% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing pipeline products in the market is a crucial factor driving the market over the forecast period.

Various companies across the globe are attempting to enter this niche market by developing novel veterinary stents. For instance, a veterinary medical device startup from New York, the U.S. has multiple veterinary prosthetic devices like artificial valves and stents in the research & development phase. For example, currently, UltraVet Medical Devices Llc. is actively involved in the development of a novel bifurcating bronchial stent.  Animals with severe airway disease for whom a conventional straight stent would not be beneficial are the target audience for this Bifurcated Bronchial Stent.  In complicated cases, the bifurcated design provides superior treatment than a straight stent given that it addresses both apical (LB1) and posterior (LB2) bronchial collapse and the left stem bronchus.

Furthermore, thorough clinical testing is underway in the veterinary medicine community for employing established stents for veterinary use. For example, in January 2024, AVMA published a clinical study aimed at studying the efficacy of Dumon silicone stents for improving respiratory function in dogs with grade IV tracheal collapse (TC). Dumon silicone stents are manufactured by Boston Medical Products Inc. and are used in human use for airway-stenosis. This study by AVMA revealed that if employed in dogs, these stents prove to be an efficient treatment for TC when they are not responding to medical management.

The market is anticipated to grow due to these developments. These innovative products tackle specific demands, and veterinarians' treatment options will be expanded by the clinical testing of the demonstrated use of certain products in veterinary care. Because of these stents' efficacy in improving respiratory function, their use in veterinary medicine is anticipated to rise. It is anticipated that the growing need for effective treatments for animal respiratory conditions will drive this growth.

Overall, these advancements will support the veterinary stent market's lucrative growth throughout the course of the forecast period. The growing availability of specialty stents made especially for veterinary use will be advantageous to the market. However, one crucial factor that can decline the growth of this market is the volatility of the market players in the recent years. For example, in January 2024, Olympus Corporation announced acquisition of TaeWoong Medical Co. Ltd (parent company of TaeWoong Medical USA). But in just a few months i.e., March 2024, Olympus retracted this deal citing “data integrity issues” with the later.

In similar fashion, Boston Scientific Corporation, a leader in medical devices, announced the acquisition of majority stake in South Korean stent manufacturer, M.I.Tech Co., Ltd in June 2022. However, in May 2023, the former retracted the transaction due to some regulatory approval issues and instead purchased a minority stake in the company. Such volatile activities tend to create an uncertain business environment in the market, potentially hindering its growth.

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Veterinary Stents Market Report Highlights

• Based on product, the airway stents segment held the largest revenue share of 39.06% in 2023. Conditions like stenosis, tracheomalacia, tracheobronchomalacia, and bronchomalacia (airway collapse) lead to respiratory complications in animals. Procedures for correcting them are quite common in veterinary medicine and require stenting to maintain airway patency, driving the demand for the segment.

• Based on animals, the dogs segment dominated the market with a revenue share of 59.19% in 2023. This growth can be attributed to the availability of a large number of products in the market and the high volume of these minimally invasive stenting procedures carried out on dogs.

• Based on application, the vascular obstructions segment is estimated to grow with the highest CAGR of 7.68% over the forecast period due to numerous research activities and innovative techniques being developed for treating vascular obstructions by veterinarians.

• Based on material, the nitinol segment dominated the in terms of revenue share in 2023. This is due to various advantages like elasticity, kink resistance, and biocompatibility which enable this material to conform to complicated structures within the animal’s body.

• Based on the end use, the veterinary hospitals & clinics segment dominated the market in 2023 since stenting is a complex and potentially fatal procedure for the animal and these settings have trained personnel as well as required emergency equipment.

• The North America region dominated the market with a revenue share of 49.02% in 2023. This can be owed to the presence of a very well developed veterinary healthcare infrastructure and the presence of leading veterinary stents manufacturers like Dextronix Animal Health, Infiniti Medical, and TaeWoong Medical USA.

Veterinary Stents Market Segmentation

Grand View Research has segmented the global veterinary stents market based on the product, animal, application, material, end-use, and region:

Veterinary Stents Product Outlook (Revenue, USD Million, 2018 - 2030)

• Airway Stents

• Urethral Stents

• Vascular Stents

• Other Stents

Veterinary Stents Animal Outlook (Revenue, USD Million, 2018 - 2030)

• Dogs

• Cats

• Other Animals

Veterinary Stents Application Outlook (Revenue, USD Million, 2018 - 2030)

• Airway Collapse

• Urinary Tract Obstructions

• Vascular Obstructions

• Other Applications

Veterinary Stents Material Outlook (Revenue, USD Million, 2018 - 2030)

• Nitinol

• Biodegradable Polymer

Veterinary Stents End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Veterinary Hospitals & Clinics

• Other end-use (academic & research institutions, rescue centers, animal shelters, etc.)

Veterinary Stents Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

• Asia Pacific

  • Japan

  • India

  • China

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Veterinary Stents Market

• Dextronix Animal Health

• Infiniti Medical

• TaeWoong Medical USA

• Create Medic Co. Ltd.

• AbtVet (Stening Group)

• M.I.Tech Co. Ltd

• UltraVet Medical Devices Llc.