The Global Intracranial Stents Market, by Product Type (Self-Expanding Intracranial Stents and Embolization Coil Support Intracranial Stents), by Disease Indication (Brain Aneurysm and Intracranial Stenosis), by End User (Hospitals and Ambulatory Surgical Centers) was valued at US$ 313.5 million in 2017, and is projected to exhibit a CAGR of 15.6% over the forecast period (2018 - 2026) as highlighted in a new report published by Coherent Market Insights.
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Increasing number of neurological disorders and traumatic accidents is propelling demand for introduction of technically advanced intracranial stents to treat intracranial atherosclerosis or brain aneurysm, which in turn is directly contributing to growth of the intracranial stent market. For instance, according to the United Nations data of 2011, around 1 billion people, i.e., 1 in every 6 of the world’s population suffered from neurological disorders such as epilepsy, Alzheimer’s, strokes, multiple sclerosis, and migraines. Furthermore, According to Centers for Disease Control and Prevention, 2014, around 2.5 million cases of traumatic accidents are registered in U.S. that lead to brain infection, meningitis, and aneurysm, which in turn is propelling the intracranial stents market growth. However, the intracranial stents market appears to be highly concentrated due to the presence of few vendors in the market. Moreover, the product is facing less acceptance among surgeons due to the risks of complications regarding the stent movement and bleeding in the brain after surgery. Furthermore, stringent government regulations regarding the use of intracranial stents to a specific age group of patients and severity of the condition of the patient, delays the entry of product in this market.
Browse 25 Market Data Tables and 44 Figures spread through 173 Pages and in-depth TOC on "Intracranial Stents Market, by Product Type (Self-Expanding Intracranial Stents and Embolization Coil Support Intracranial Stents), by Disease Indication (Brain Aneurysm and Intracranial Stenosis), by End User (Hospitals and Ambulatory Surgical Centers) - Global Forecast to 2026"
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Key players in the intracranial stents market are focused on improving the quality of stents, which can maintain the position of endovascular coils during and after the procedure, thereby increasing product acceptance by healthcare professionals and patients. Moreover, various key players are engaged in obtaining product approval from regulatory authority to increase their geographical reach and strategic collaborations, mergers and acquisitions to retain leading position in market. For instance, in February 2016, Codman Neuro launched the Codman Enterprise 2 Vascular Reconstruction Device, a self-expanding stent and delivery system used to treat wide-necked intracranial aneurysms and helps secure the placement of endovascular coils during and after the procedure and maintains blood flow through the artery. Furthermore, in January 2017, MicroPort Medical (Group) Co., Ltd. received China Food and Drug Administration (FDA) approval for their portfolio of APOLLO Intracranial Stent System in large sizes, for treating intracranial artery stenosis by improving blood supply in cerebral arteries.
Key takeaways of the intracranial stents market:
- The global intracranial stents market is expected to expand at a CAGR of 15.6% during the forecast period (2018 – 2026), owing to increasing technological advancement in intracranial stents by key manufactures, with ability to lower the rate of reoccurrence of artery narrowing.
- North America is projected to grow with higher pace during the forecast period in the intracranial stents segment, owing to the shifting of the interest from open surgical techniques to minimally invasive stenting surgeries along with the adoption of most technical advanced stent products by established players.
- Hospitals holds largest market share in end user segment, owing to increasing volume of brain surgery procedures conducted at this healthcare setting. Furthermore, various technologically advanced healthcare facilities are offered by hospitals.
- Some of the major players operating in the global intracranial stents market include Medtronic Plc, Balt Extrusion S.A., MicroPort Scientific Corporation, Abbott Laboratories, Stryker Corporation, Admedes Schuessler GmbH, Cardiatis, S.A, DePuy Synthes, Acandis GmbH, and Penumbra, Inc.
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