intracranial stents market

Intracranial Stents Market By Product (Self-Expanding Stents, Balloon Expanding Stents, And Others), Application (Intracranial Stenosis And Brain Aneurysm), End-User (Hospitals, Ambulatory Surgical Centers, And Others) and geography is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of neurological disorders such as intracranial stenosis and brain aneurysm, increasing prevalence of ischemic stroke, and transient ischemic attack (TIA), among others

The global Intracranial Stents Market is poised for significant growth, projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 6.75% during the forecast period from 2024 to 2030. The demand for Intracranial Stents is primarily being boosted by the rising prevalence of neurological disorders such as intracranial stenosis and brain aneurysm. Additionally, the increasing prevalence of ischemic stroke, and transient ischemic attack (TIA), and increasing technological advancements leading to more product development and launches, are some of the key factors contributing to the growth of the Intracranial Stents market during the forecast period from 2024-2030.

Intracranial Stents Market Dynamics:

As per data provided by the Brain Aneurysm Foundation 2023, it was estimated that around 6.7 million people in the United States have an unruptured brain aneurysm, and 30,000 people suffer from brain aneurysm rupture each year, in the United States. Thus the rising prevalence of neurological disorders such as intracranial stenosis and brain aneurysm, will create a need for the treatment of such neurological disorders, thus resulting in the positive growth of the Intracranial Stents market.

According to Global Stroke Fact Sheet 2022, nearly 12,224,551 incident cases of stroke were reported in 2022, globally. The same source stated that over 7.6 million new ischemic strokes were reported each year, worldwide. Globally, over 62% of all incident strokes are ischemic strokes. Intracranial stents are often used to prevent ischemic strokes and improve patient outcomes by promoting better blood flow to the affected parts of the brain. Therefore, the rising prevalence of Ischemic stroke and transient ischemic attack (TIA) will increase the demand for Intracranial Stents, thereby contributing to its market growth.

However, the complications associated with intracranial stents, lack of skilled healthcare professionals, and the high cost associated with intracranial stents and procedures, are some of the key constraints that may limit the growth of the Intracranial Stents market during the forecast period.

Intracranial Stents Market Segment Analysis:

Intracranial Stents market by Product (Self-expanding Stents, Balloon Expanding Stents, and Others), Application (Intracranial Stenosis and Brain Aneurysm), End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the Intracranial Stents market, the self-expanding stents category is estimated to amass a significant revenue share in the Intracranial Stents Market in 2023. This can be attributed to the various applications and advantages associated with self-expanding stents. Self-expanding stents possess the ability to adapt to the anatomy of the artery. Additionally, the self-expanding stents can restore to their original shape even when subjected to external forces. Also, after deployment, the self-expanding stents can adjust to lesion shapes and vessel tortuosity, and they possess excellent scaffolding qualities (plaque covering). Therefore, the various advantages provided by the self-expanding stents will eventually contribute to the overall growth of the segment.

Furthermore, as the demand for this segment grows, various products are getting regulatory approvals from various regulatory organizations. For example, in August 2020, the US FDA provided expanded indication approval to Stryker’s Neuroform Atlas Stent System.

Therefore, owing to the above-mentioned factors, the self-expanding stents category is expected to register significant growth, thereby driving the growth of the overall Intracranial Stents market during the forecast period.

North America is expected to dominate the overall Intracranial Stents Market:

North America is expected to account for the highest proportion of the Intracranial Stents Market in 2023, out of all regions. This is due to the presence of a large patient pool suffering from ischemic stroke, and transient ischemic attack (TIA). Additionally, the rising geriatric population, presence of major players in the region, presence of developed and sophisticated healthcare infrastructure, and a highly viable market in terms of product development, and launches are some of the factors driving the growth of the Intracranial Stents Market in North America.

According to the data provided by the Centers for Disease Control and Prevention (CDC) in 2023, it was estimated that around 795,000 people in the United States have a stroke every year on average, and of these 87% are ischemic strokes, in which blood flow to the brain is blocked. Additionally, as per the US Census Bureau 2021 report, more than 54 million adults ages 65 and older are living in the United States, in 2021. Further by 2050, the total number of adults ages 65 and older is projected to rise to an estimated 85.7 million roughly 20% of the overall US population.

The elderly population especially people above 50 years are more prone to Ischemic stroke and transient ischemic attack, as arteries naturally become narrower and harder, and are more likely to become clogged with fatty material, known as atherosclerosis. Thus, the rising prevalence of ischemic strokes and transient ischemic attacks, and the rising geriatric population are some of the key factors driving the Intracranial Stents Market in the United States, which will eventually propel the Intracranial Stents Market in North America.

Therefore, the factors mentioned above, and the presence of key market leaders with increasing product launches and product approvals in the region are some of the important factors that are responsible for driving the overall market for Intracranial Stents in North America during the forecast period.

Intracranial Stents Market Key Players:

Some of the key market players operating in the Intracranial Stents market include Stryker, Boston Scientific Corporation, Terumo Corporation, Medtronic, Cook, MicroPort Scientific Corporation, DePuy Synthes, Acandis GmBH, Balt Group, MicroVention Inc., Sino Medical Sciences Technology Inc., Johnson & Johnson, Inc., Phenox GmbH, INVAMED, InspireMD Inc., and others.

Recent Developmental Activities in the Intracranial Stents Market:

• In September 2022, Wallaby/phenox launched their novel pEGASUS HPC stent at the ESMINT 2022 congress in Nice, France.
• In June 2022, Medtronic launched its CE-marked fourth-generation flow diverter, to treat brain aneurysms.
• In August 2021, Fluid Biotech received USD 5.8 million funding, for the development of its innovative stent for the treatment of brain aneurysms.

Key Takeaways from the Intracranial Stents Market Report Study

• Market size analysis for current Intracranial Stents Market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Intracranial Stents market.
• Various opportunities available for the other competitors in the Intracranial Stents Market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Intracranial Stents market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Intracranial Stents market growth in the coming future?

Target Audience who can be benefited from this Intracranial Stents Market Report Study

• Intracranial Stents product providers
• Research organizations and consulting companies
• Intracranial Stents related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Intracranial Stents
• Various end-users who want to know more about the Intracranial Stents Market and the latest technological developments in the Intracranial Stents Market. 

Frequently Asked Questions for the Intracranial Stents Market:

1. What is meant by Intracranial Stents?

Intracranial Stents are medical devices designed for use in the treatment of certain neurovascular conditions within the brain. These stents are typically deployed within blood vessels to provide structural support and improve blood flow in the brain.

2. What is the market for Intracranial Stents?

The global Intracranial Stents Market is poised for significant growth, projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 6.75% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Intracranial Stents market?

The Intracranial Stents Market is slated to witness prosperity owing to factors such as the rising prevalence of neurological disorders such as intracranial stenosis and brain aneurysm. Additionally, the increasing prevalence of ischemic stroke, and transient ischemic attack (TIA), and increasing technological advancement leading to more product development and launches, are some of the other factors resulting in appreciable revenue growth in the Intracranial Stents Market during the forecast period (2024-2030).

4. Who are the key players operating in the global Intracranial Stents market?

Some of the key market players operating in the Intracranial Stents market are Stryker, Boston Scientific Corporation, Terumo Corporation, Medtronic, Cook, MicroPort Scientific Corporation, DePuy Synthes, Acandis GmBH, Balt Group, MicroVention Inc., Sino Medical Sciences Technology Inc., Johnson & Johnson, Inc., Phenox GmbH, INVAMED, InspireMD Inc., and others.

5. Which region has the highest share in the global Intracranial Stents market?

North America is expected to dominate the overall Intracranial Stents Market during the forecast period, 2024 to 2030. This is due to the presence of a large patient pool suffering from ischemic stroke, and transient ischemic attack (TIA). Additionally, the rising geriatric population, presence of major players in the region, presence of developed and sophisticated healthcare infrastructure, and a highly viable market in terms of product development, and launches are some of the key factors driving the growth of the Intracranial Stents Market in North America.