The market for intracranial stents is expected to grow at a CAGR of around 10.2% from 2020 to 2027 and expected to reach the market value of around US$ 798.7 Mn by 2027.
Intracranial stents are the devices that are used as a permanent implant to allow blood flow by opening the blocked arteries. Intracranial stent is used in a condition called intracranial stenosis where the blood vessels or blood clots get narrowed due to building up of fats, plaque, and other substances in the blood vessels. These were initially designed for use in heart and later the technological advancement made possible use of these stents in the brain and are placed in the blood vessel of the intracranial cavity to treat vascular abnormality. Intracranial stents help in strengthening the weakened artery by allowing smooth blood flow without causing the bulge.
The rising prevalence of intracranial disorders due to various factors such as genetic disorders and accidents is primarily accelerating the market value. The increasing government initiatives and growing awareness about the intracranial stents are propelling the market value. The high prevalence of stroke among the geriatric population across the globe and the integration of advanced software with existing products are gaining significant traction in the global intracranial stents market.
On the other side, the high treatment costs and lack of skilled professionals for performing the surgery are further projected to restrict the growth to an extent over the forecast timeframe from 2020 to 2027.
Self-expanding stents have registered major revenue share in the market
By product type, the self-expanding stents segment accounted for the major share (%) in the global market and the segment is also projected to maintain its dominance over the estimated period from 2020 to 2027. The increasing demand for new self-expanding brain stents, because the rate of reoccurrence of artery narrowing is further supporting the segmental market value. The segment is also projected to register the fastest growth with major CAGR (%) over the estimated timeframe from 2020 to 2027.
North America accounted for the maximum revenue share in 2019
North America is leading the global market with maximum share in terms of value (US$ Mn). The region is further projected to maintain its dominance over the forecast period from 2020 to 2027. The well-established healthcare infrastructure and the presence of major players in the region are supporting the regional market value. The major countries of the region including the US and Canada are majorly contributing to the regional market value due to the increasing geriatric population and lifestyle diseases. Moreover, Asia Pacific is projected to experience the fastest growth over the estimated period from 2020 to 2027. The developing healthcare sector and the increasing focus of major manufacturers in the region are supporting the regional market growth. The major economies of the region including Japan, China, and India are projected to contribute to the regional market value.
The players profiled in the report include Acandis (Germany), Boston Scientific Corporation (US), Cook Medical (US), DePuy Synthes (US), Medtronic (Ireland), MicroPort Scientific (China), Penumbra, Inc. (US), Phenox (Germany), Stryker Corporation (US), Terumo Corporation (Japan), and others. The major intracranial stents players were involved in strategic developments for escalating the profit share in regional as well as global market. The major investments were announced for the technological advancements associated with the changing consumer demand for intracranial stents.
Market By Product Type
Balloon Expanding Stents
Stent-Assisted Coil Embolization
Market By Disease Indication
Market By End-User
Ambulatory Surgery Centers
Market By Geography
Middle East & Africa
The market for intracranial stents is expected to reach a market value of around US$ 798.7 Mn by 2027.
The intracranial stents market is expected to grow at a CAGR of around 10.2% from 2020 to 2027.
The self-expanding stents is the leading segment by product type in the intracranial stents market.
The rising prevalence of intracranial disorders, increasing government initiatives and growing awareness about the intracranial stents, high prevalence of stroke among geriatric population, and integration of advanced software with existing products are some fo the factors driving the market growth.
Acandis (Germany), Boston Scientific Corporation (US), Cook Medical (US), DePuy Synthes (US), Medtronic (Ireland), MicroPort Scientific (China), Penumbra, Inc. (US), Phenox (Germany), Stryker Corporation (US), Terumo Corporation (Japan), and others are the prominent players in the market.
North America held the highest market share in the intracranial stents market.
Asia Pacific is expected to be the fastest growing market over the forecast period.