Intracranial Stents Global Market Propelled by Rising Brain Aneurysm Incidences
Intracranial Stents Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What is the Growth Rate and Size of the Intracranial Stents Market in 2024?
The intracranial stents market has seen rapid growth in recent years, slated to rise from $0.42 billion in 2023 to reach $0.49 billion by 2024, boasting a robust compound annual growth rate CAGR of 15.8%. Factors contributing to this growth are increased awareness of stroke risks, improved patient education, heightened radiation safety protocols, the increased aging population, and the emergence of minimally invasive techniques.
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What's in Store for the Intracranial Stents Market in the Future?
Looking towards the future, the intracranial stents market is foreseen to continue along its trajectory of rapid growth. It's projected to reach $0.87 billion by 2028, with a compound annual growth rate CAGR of 15.5%. Factors driving this growth include the expansion of telehealth services, adoption of genomic medicine, rising healthcare infrastructure, expansion of stroke rehabilitation services, and increasing health initiatives.
Major trends slated to shape the forecast period include the adoption of bioresorbable intracranial stents, neurointerventional robotics, integration of advanced imaging technologies, use of pediatric intracranial stents, and the development of dual antiplatelet therapy strategies.
What are the Key Drivers of the Intracranial Stents Market?
An increase in the incidence of brain aneurysms is expected to fuel the growth of the intracranial stents market. A brain aneurysm is a bulge that forms in the blood vessels of the brain—rupture or bursting of this bulge can lead to brain hemorrhage and possibly patient death. In such cases, Intracranial Vessel Stenting IVS, a minimally invasive treatment for severe cerebral artery stenosis, can prove life-saving.
For instance, as reported in February 2023 by Medical News Today, an estimated 3.2% of the global population harbors unruptured aneurysms. Therefore, the rising incidence of brain aneurysms is set to bolster the intracranial stents market growth.
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Who are the Major Players in the Intracranial Stents Market?
Major market players in the intracranial stents market include Medtronic plc, Balt Extrusion LLC., Stryker Corporation, MicroPort Scientific Corporation, Boston Scientific Corporation, Acandis GmbH, Admedes Schuessler GmbH, MicroVention Inc., Phenox GmbH, Terumo Corporation, Johnson & Johnson Services Inc., Abbott Laboratories, Brainlab AG, Cardiatis SA, Cook Medical LLC, DePuy Synthes, Endologix Inc., InspireMD Inc., Integra LifeSciences Corporation, Kaneka Corporation, Kerecis Limited, Penumbra Inc., Rapid Medical Ltd., Vascular Solutions Inc., W. L. Gore & Associates Inc., Biotronik SE & Co. KG, Cardionovum GmbH, Codman Neuro, C.R. Bard Inc., Cerebral Stents.
What are the Emerging Trends in the Intracranial Stents Market?
Companies operating in the intracranial stents market have been focusing on the innovation of new products such as Onyx Frontier drug-eluting stent DES for coronary artery disease caused by plaque accumulation. For instance, in August 2022, Ireland-based medical apparatus company Medtronic plc launched the Onyx Frontier DES. It demonstrates superior delivery performance and is built optimally for percutaneous cardiac intervention PCI. The acute performance and clinical data from the Resolute Onyx DES provide the foundation for the improved delivery mechanism and better acute performance embodied in the Onyx Frontier DES.
How is the Intracranial Stents Market Segmented?
The intracranial stents market is examined and segmented by:
1 By Type: Self Expanding Stents, Balloon Expanding Stents, Stent-Assisted Coil Embolization
2 By Disease Indication: Brain Aneurysm, Intracranial Stenosis
3 By End-User: Hospitals, Ambulatory Surgery Centers, Other End-Users
Which Regions are Leading the Intracranial Stents Market?
In 2023, North America emerged as the leading region in the intracranial stents market. However, during the forecast period, Asia-Pacific is expected to outpace other regions in the market growth rate. The intracranial stents market report covers several regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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