Global Intracranial Stents Market - 2022-2029

Market Overview

The Intracranial Stents Market was valued US$ 360 million in 2021 and is estimated to reach US$ 702.8 million by 2029, growing at a CAGR of 8.98% during the forecast period (2022-2029).

An intracranial stent is a tubular structure that is placed inside the canal, duct, or blood vessel. They are used for the treatment of intracranial stenosis. Intracranial stenosis is caused by narrowing of the blood vessels or blood clots due to the building up of fats, plaque, and other substances in the blood vessels. This condition causes stroke in the carotid artery in the neck or an intracranial artery.

Market Dynamics

The global intracranial stents market is growing due to the rapid rise in the geriatric population, an increase in the incidence of chronic neurological diseases like brain aneurysm and hypertension, cholesterol, and diabetes, and technical advances in the field of self-expanding stents and improvement in flexibility of the stents.

Rising prevalence of chronic neurological diseases drives the growth of the market

According to the Brain Aneurysm Foundation (BAF), a brain aneurysm causes around 500,000 deaths annually and is more common among women. BAF estimates that aneurysms are predominant in the age group of 35-60 years, and their occurrence increases if a first-degree relative like a parent, sibling, or child has aneurysms. In addition, patients with genetic disorders like connective tissue disorders or polycystic kidney disease usually suffer from cerebral aneurysms.

According to September 2020 in Frontiers in Neurology Journal, the annual national incidence for IIH was 1.15 out of 100,000 in the United States. Also, per another study published in August 2020 in the same journal, the incidence of IIH was similar in Middle Eastern countries, such as Kuwait and other regions, but was higher than in western areas. It was estimated at 2 per 100,000. According to the Journal of Neurology, Neurosurgery and Psychiatry, Chinese were more unsafe to ICAS than Caucasians, with an earlier age of onset. It represents the most advanced stage of ICAD and is a common cause of Transient Ischemic Attack (TIA) and ischemic stroke.

Risks of complications are expected to hamper the market growth

Tight budgetary constraints faced by intracranial stents manufacturers and healthcare service providers and fewer acceptances among surgeons due to the risks of complications regarding the stent movement and bleeding in the brain after surgery are going to restrain the market in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic led to a reduced number of elective surgeries, supply chain hurdles, operational challenges, and other adverse impacts on the market for intracranial stents. Stryker, for example, reported a 3.6% decline in sales while net earnings decreased by 23.2%. Despite the challenges posed by the covid outbreak, the company significantly strengthened its development capabilities, product and service lines, and the market reaches through the acquisition of Wright Medical in November 2020. Medtronic's net neurovascular sales were driven by the constant growth of Ischemic stroke products and modest growth in hemorrhagic stroke products. Hemorrhagic stroke saw continuous growth, mainly with the Pipeline Flex flow diversion system, partly offset by a decline in the fourth quarter owing to procedural suspensions caused by the pandemic.

Industry Analysis

The global intracranial stents market provides in-depth analysis of the market based on various industry factors such as porter's five forces, regulatory analysis, supply chain analysis and pricing analysis, reimbursement policies, technological advancements, PEST analysis.

Segment Analysis

The self-expanding stents segment is expected to hold the largest market share in global intracranial stents market

The self-expanding stents segment accounts for the highest market due to the increasing geriatric population, incidence of intracranial disorders and launch of innovative products will boost segment growth. For instance, in May 2019, Stryker's Neuroform Atlas stent received premarket approval from the U.S. FDA. It comprises a self-expanding stent intended for use with detachable metal embolization coils. In addition, the APOLLO Intracranial Stent System from MicroPort Scientific Corporation is explicitly intended for improving cerebral artery lumen diameter in patients with atherosclerosis in intracranial vessels. This stent system comprises a balloon-expandable stent. Product advancements and initiatives by market players are expected to drive the market for intracranial stents.

Geographical Analysis

North America region holds the largest market share in the global intracranial stents market

North America was held a dominant position in the global intracranial stents market in 2021. High prevalence of neurological diseases coupled with the presence of sophisticated healthcare infrastructure and rising per capita healthcare makes North America the largest revenue generator in the market. According to the Centers for Disease Control and Prevention (CDC), neurological disorders such as epilepsy, Alzheimer's, strokes, multiple sclerosis, and migraines are the 5th leading cause of death in the U.S., affecting around 100 million people every year. This large patient pool costs the nation 800 billion annually, including the cost of health care services, medications, and lost productivity.

This large volume of patients with stroke requires intracranial stenting. As per the American Heart Association, in the year 2020, atherosclerotic stenosis was identified as the primary cause of around 700,000 strokes.

Competitive Landscape

The intracranial stents market is highly competitive, owing to big market players in the industry. The key intracranial stents players which are contributing to the growth of the global market include Penumbra, Inc., Medtronic plc, Stryker Corporation, Boston Scientific Corporation Inc., Terumo Corporation, Cook Medical, DePuy Synthes, Balt Extrusion S.A., MicroPort Scientific Corporation, and Abbott Laboratories among others. The major players are adopting new product development and expansion strategies for global growth in the intracranial stents market. In March 2020, In India, Sree Chitra Tirunal Institute for Medical Sciences and Technology, developed an intracranial flow diverter stent for treating brain aneurysms.

Global Intracranial Stents Market - Key Companies to Watch

Medtronic Plc:

Overview: Medtronic plc is an American company that operates in U.S. and manufactures and markets medical device headquarters in Minneapolis, US. It is operational in around 140 countries and 90,000 people are employed there.

Product Portfolio: Pipeline Flex embolization device is the device indicated for the endovascular treatment of adults (22 years of age or older) with certain wide-necked intracranial aneurysms (IAs) in the internal carotid artery from the petrous to the superior hypophyseal segments.

The global intracranial stents market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.