Intracranial Stents Total Addressable Market size is anticipated to reach USD 4.1 billion by 2030

 Intracranial Stents Total Addressable Industry Overview

The global intracranial stents total addressable market size was valued at USD 2.7 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030.

 

Growing prevalence of intracranial disorders, product developments, diagnostic rates, clinical trials, and supportive initiatives are some of the key drivers of this market. As per a study published in September 2020 in Frontiers in Neurology Journal, annual national incidence for IIH was found to be 1.15 out of 100,000 in the U.S. As per another study published in August 2020 in the same journal, the incidence of IIH was found to be similar in the Middle Eastern countries, such as Kuwait, and other regions, but was higher compared to Western regions. It was estimated at about 2 per 100,000.

 

Gather more insights about the market drivers, restrains and growth of the Global Intracranial Stents Total Addressable Market

 

The COVID-19 pandemic led to the 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 pandemic, the company significantly strengthened its development capabilities, product and service lines, and market reach through the acquisition of Wright Medical in November 2020. Medtronic’s net sales of neurovascular 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 decline in fourth-quarter owing to procedural suspensions caused by the pandemic.

 

Increasing intracranial disease prevalence is a key driver contributing to the growth of the market for intracranial stents. As per a study published in the Journal of Neurology, Neurosurgery and Psychiatry, Chinese were found to be more vulnerable to ICAS than Caucasians, with an earlier age of onset. ICAS represents the most advanced stage of ICAD and is a common cause of Transient Ischemic Attack (TIA) and ischemic stroke. As per the Brain Aneurysm Foundation, about 1 out of 50 individuals has an unruptured brain aneurysm in the U.S. The condition affects women more than men and is particularly prevalent in older people aged 55 years and above. Ruptured brain aneurysms are estimated to be responsible for 3% to 5% of all new stroke cases.

 

The gradual recovery in the number of elective surgeries to pre-COVID numbers are anticipated to contribute to market growth. Supportive guidelines have been released by key healthcare organizations such as the American Society of Anesthesiologists (ASA), American Hospital Association, American College of Surgeons, and others for smooth resumption of elective surgery. Benefits associated with minimally invasive surgeries also contribute to increased preference for intracranial stents over open surgeries thus fueling the growth of the market for intracranial stents. These benefits include reduced pain and scarring, smaller incisions, and faster recovery times.

 

Browse through Grand View Research's Medical Devices Industry Research Reports

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Key Companies Profile

Some of the prominent players in the intracranial stents total addressable market include:  

  • optimed Medizinische Instrumente GmbH
  • Medtronic
  • Cerenovus (Johnson & Johnson)
  • Acandis GmbH
  • MicroPort Scientific Corporation
  • MicroVention Inc. (Terumo)
  • Sino Medical Sciences Technology Inc.
  • Stryker
  • Abbott
  • Balt 

 

Order a free sample PDF of Intracranial Stents Total Addressable Market Intelligence Study, published by Grand View Research. 

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