PUBLISHER: Grand View Research | PRODUCT CODE: 1076586
PUBLISHER: Grand View Research | PRODUCT CODE: 1076586
The global intracranial stents total addressable market size is anticipated to reach USD 4.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a notable CAGR of 4.8% from 2022 to 2030. Increasing product developments, rising prevalence of intracranial disorders, growing awareness among the general public, and supportive initiatives undertaken by public and private healthcare organizations are some of the key factors fueling the market. The Brain Foundation in Australia, for instance, supports the funding of quality research in neurological diseases, disorders, and injuries, to help advance diagnoses and treatments, improving patient outcomes.
The COVID-19 pandemic has adversely affected the number of elective surgeries during 2020 and 2021. The pandemic has affected market players and consumers in different ways, such as moving businesses online and restricted access to healthcare providers. Supply chain disruptions and operational hurdles were observed due to changing policies and restrictions during the pandemic. The disease outbreak has had a major impact on the treatment of stroke. Numerous reports have emphasized on a decline in the rate of hospital admissions for medical emergencies such as stroke or myocardial infarction. For instance, 12,546 patients were hospitalized between January and September 2020 for carotid artery surgery in France. This figure was 9.8% lower than the same period in the three preceding years (2017-2019)
Rapid adoption of novel technologies and emerging treatment options, increasing clinical trials, and strategic initiatives undertaken by key market players are factors expected to propel the market in the coming years. Acandis, headquartered in Germany, offers the Credo stent for treatment of intracranial stenosis. Credo is a self-expanding nitinol stent suitable for vessels within a diameter range of 2.0-4.5 mm. In August 2018, Cerenovus, part of Johnson & Johnson received CE mark for its BRAVO Flow Diverter intended for the treatment of intracranial aneurysms, in Europe. This enabled the company to commercialize the product.
Asia Pacific held the leading share of the market in 2021 owing to the presence of a large patient population, key companies, the prevalence of risk factors such as atherosclerosis, and improving healthcare infrastructure. The Asian-Pacific Society of Atherosclerosis and Vascular Diseases provides a forum highlighting similarities and differences of the disease across the region. It also supports regional collaboration on common research interests. According to the UN Department of Economics and Social Affairs, population in Asia was estimated at 4.64 billion in 2020, which increased to 4.67 billion in 2021.