Impact Analysis of Covid-19
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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), and by End User (Hospitals and Ambulatory Surgical Centers) was valued at US$ 313.5 million in 2017, and is estimated to exhibit a CAGR of 15.6% over the forecast period (2018-2026).
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The increasing number of neurological disorders and traumatic accidents is driving key players to introduce technically advanced intracranial stents to treat intracranial atherosclerosis or brain aneurysm, which is expected to drive 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 the Centers for Disease Control and Prevention, 2014, around 2.5 million cases of traumatic accidents were registered in the U.S. and that further lead to brain infection, meningitis, and aneurysm, which is expected to propel 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 less preferred by surgeons due to the risks of complications regarding the stent movement and bleeding in the brain after surgery. Furthermore, stringent government regulations about the usage 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. These factors are expected to hamper growth of the market over the forecast period
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), and by End User (Hospitals and Ambulatory Surgical Centers) – Global Forecast to 2026”
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In addition, key players in the intracranial stents market are focusing 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 gaining product approval from regulatory authority to expand their geographical reach and strategic collaborations, mergers and acquisitions to strengthen their market position. For instance, in February 2016, Codman Neuro launched Codman Enterprise 2 Vascular Reconstruction Device, a self-expanding stent and delivery system, indicated for the treatment of 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 exhibit a CAGR of 15.6% over the forecast period (2018-2026), attributed to increasing technological advancements in intracranial stents by key manufactures, with ability to lower the rate of reoccurrence of artery narrowing
- Among regions, North America is estimated to grow with higher pace over the forecast period, owing to the shifting preference from open surgical techniques to minimally invasive stenting surgeries, coupled with increasing adoption of most technical advanced stent products by key players
- Among end user, hospitals segment is expected to account for largest market share over the forecast period, owing to increasing volume of brain surgery procedures conducted at this healthcare setting. Furthermore, various technologically advanced healthcare facilities are offered by hospitals.
- Key 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., among others
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