Business Health Industry

Intracranial Stents Market | Increase in Prevalence of Chronic Disease Likely to Boost Market

Transparency Market Research (TMR) has published a new report titled ‘Intracranial Stents Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global intracranial stents market was valued at US$ 298.7 Mn in 2017. It is projected to expand at a CAGR of 10.4% from 2018 to 2026. Aging population and longer life-expectancy, increased awareness, and acceptance of advanced devices are key factors that are likely to drive the intracranial stents market from 2018 to 2026.

Intracranial stents is a considerably less invasive technique, as compared to the conventional open surgery, for the management of vascular malformation. Hence, there are fewer complications and the hospital stay is relatively brief. Blood loss is lesser than traditional surgical treatment, and there is no obvious surgical incision. Intracranial stents can be used to treat tumors and vascular malformations that either cannot be removed surgically or would involve great risk if surgery was attempted. Intracranial stents is an effective and safe minimally-invasive alternative to surgery.

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The report offers detailed segmentation of the global intracranial stents market based on product type, disease indication, end-user, and region. In terms of product type, the self-expanding stents segment accounted for a dominant share of the market in 2017. High flexibility and low chances of restenosis has paved the way for the introduction of self-expanding stents and thereby, has fuelled the market. The introduction of advanced intracranial stents has revolutionized the intracranial stents market; factors such as reduction in infection risk, fast recovery are expected to drive the demand for intracranial stents during the forecast period.

The intracranial stenosis segment is expected to account for a leading share of the market by the end of 2026. Rapid rise in the geriatric population, increase incidence of stroke, and technological innovation in neurology care devices are expected to drive the segment during the forecast period.

North America held a major share of the global market, in terms of revenue, and is expected to maintain its position during the forecast period. North America is home to several key market players, such as Cook Medical, Johnson & Johnson Services, Inc., and Boston Scientific Corporation, that have their headquarters in the U.S., where they generate significant sales. Hence, North America is a leading market for intracranial stents. High awareness about latest health care technologies and higher purchasing power are anticipated to boost the intracranial stents market in North America. The intracranial stents market in Asia Pacific is expected to expand at a rapid pace, primarily due to improving health care infrastructure, rising disposable income, and technological advancements in countries such as China and India. Furthermore, rise in usage of minimally invasive devices for the treatment of various neurology disorders by surgeons, have boosted the demand for intracranial stents in Asia Pacific.

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The report also provides profiles of other major players operating in the global intracranial stents market. Other major players include Medtronic plc, Johnson & Johnson Services, Inc., Terumo Corporation, and Cook Medical.