Cerebral Vascular Stent Market Overview
Market Research Future (MRFR) expects the cerebral vascular stent market to procure a growth rate of close to 9% between 2021 and 2027 (analysis period), given the drastic rise in FDA approvals worldwide.
Top Boosters and Challenges
With cerebral vascular disease emerging as a critical issue and a vast population affected by it, the global healthcare sector is under immense pressure to address the growing burden. There is urgent need to develop effective treatment options, with the onus falling on manufacturers to design advanced devices that facilitate efficient surgeries. The alarming speed at which these health issues are mounting can be accredited to unhealthy eating habits, lack of physical activities, and several environmental factors. The United States is a highly developed nations, home to a well-established healthcare sector, however; the substantial disease burden is proving to be a significant challenge for the country. In view of the dramatic increase in the number of cases and the surging hospital admission rate, the demand for efficient cerebral vascular stents has risen as well. Technological innovations in stenting technologies, burgeoning geriatric patient base and the emerging trend of minimally invasive surgeries also help foster the market size to a large extent.
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The rise in product approval granted by authoritative entities also works in favor of the cerebral vascular stents industry. Advances in bioresorbable vascular scaffolds as well as international players’ rising interest in emerging regions with growth opportunities should also result in significant revenue generation in the future. With that said, product recalls and product failure have emerged as major challenges for leading manufacturers and could slow down the business growth in the years to follow.
Having said that, the cerebral vascular stents market, with its rich competitive landscape and the massive pool of renowned vendors, could see exponential growth in the next few years. Many of the firms are seeking growth measures in a bid to improve their market rankings, striving to form long-term connections with medical facilities and other companies.
Cerebral Vascular Stent Market Segmentation
The global cerebral vascular stent industry has been studied thoroughly in the MRFR report, which also covers a few major segments, namely type as well as end user.
The MRFR report has covered nitinol, tantalum, and stainless steel as the key cerebral vascular stent types. The lead has been secured by the nitinol category with the highest share in the market, considering this type’s appealing properties and the resultant surge in its use in the healthcare sector. The nitinol cerebral vascular stent type is extremely flexible, have a higher tissue growth rate, especially compared to other vascular stent types.
The top end users of cerebral vascular stents in the global market are ambulatory surgical centers, along with hospitals. In the lead is the hospitals segment, which would continue to head the global market during the analysis period, thanks to their surging number across the globe. Also, majority of the hospitals worldwide specialize in advanced angioplasty procedures and have skilled medical staffs, raising the patient admission rate.
Cerebral Vascular Stent Market Regional Outlook
The market for cerebral vascular stents has been regionally divided into MEA or Middle East & Africa the Americas, Europe, and Asia Pacific or APAC.
North American lands the top position in the global market, considering the escalating incidences of cerebrovascular diseases coupled with the surge in R&D expenditure. The Brain Aneurysm Foundation’s extensive study reveals that in 2019, around 8.5 million US citizens were affected by unruptured brain aneurysm. Plus, annually, roughly 50,000 Americans suffer from brain aneurysm rupture. Soaring preference for minimally or non-invasive procedures across Canada should further benefit the cerebral vascular stent market. Large-scale spending on healthcare researches, supportive government regulations, effective treatments as well as early diagnosis rate also facilitate market growth in the region.
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APAC will be experiencing the fastest growth in subsequent years, given the significant burden of cerebral vascular disorder along with fast-paced expansion of the elderly patient pool. Other growth rendering factors can be the rising use of modern technologies by healthcare coupled with the low manufacturing costs of medical products in India and several other nations in the region.
Cerebral Vascular Stent Market Eminent Players
The most affluent firms active in the market for cerebral vascular stent include Acandis GmbH (Germany), Medtronic plc (Ireland), Johnson & Johnson Services, Inc. (US), Cook Medical (US), Penumbra, Inc. (US), Boston Scientific Corporation (US), MicroPort Scientific Corporation (China), Terumo Corporation (Japan), Phenox GmbH (Germany), Stryker Corporation (US), and many more.
These companies focus on expanding their global reach and introducing highly innovative devices and technologies by adopting different strategies such as collaborations, agreements, and partnerships.
TABLE OF CONTENTS
1. REPORT PROLOGUE
2. MARKET INTRODUCTION
2.2. Scope Of The Study
2.2.1. Research Objective
3. RESEARCH METHODOLOGY
3.2. Data Mining
3.3. Secondary Research
3.4. Primary Research
3.4.1. Primary Interviews And Information Gathering Process
3.4.2. Breakdown Of Primary Respondents
3.5. Forecasting Techniques
3.6. Market Size Estimation
3.6.1. Bottom-Up Approach
3.6.2. Top-Down Approach
3.7. Data Triangulation
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
5.1. Porter’s Five Forces Analysis
5.1.1. Bargaining Power Of Suppliers
5.1.2. Bargaining Power Of Buyers
5.1.3. Threat Of New Entrants
5.1.4. Threat Of Substitutes
5.1.5. Intensity Of Rivalry
5.2. Value Chain Analysis
5.3. COVID-19 Impact Analysis
5.3.1. Market Impact Analysis
5.3.2. Demand And Supply
5.3.3. Regional Impact
5.3.4. Impact On Market Growth
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