Intracranial Stents Market

Global Intracranial Stents Market Size (2023 to 2028)

The global intracranial stents market size is anticipated to be worth USD 551.3 million by 2028 from USD 354.7 million in 2023, growing at a CAGR of 9.22% from 2023 to 2028.

Global Intracranial Stents Market Share Insights:

• Based on type, the self-expanding stents segment led the market in 2022.
• Based on application, the intracranial stenosis segment accounted for the major share of the global market in 2022.
• Based on end-user, the hospital segment held the largest share of the worldwide market in 2022.
• Based on region, North America captured the leading share of the global market in 2022.

Impact of COVID-19 on the global intracranial stents market:

The COVID-19 pandemic has had a significant impact on the global intracranial stents market. The pandemic has caused problems in healthcare systems around the world when non-urgent treatments, such as intracranial surgeries, have been delayed or postponed maximizing resource utilization and reducing the risk of transmission of the coronavirus. Consequently, the number of head treatments performed during the pandemic has decreased. Additionally, the R&D activities around intracranial stents have been impacted by the COVID-19 pandemic and impacted the market growth negatively. Clinical studies for new devices or treatments may have been delayed, retarding innovation and market growth. Additionally, travel restrictions and social isolation have made it more difficult for physicians to collaborate and share information. But despite all the difficulties, there have been some positive developments. The pandemic has accelerated the use of telemedicine and remote patient monitoring technologies, making it simpler for doctors to provide video consultations and monitor patients with intracranial conditions. This has helped maintain care and reduced the risk of contracting the virus.

MARKET DRIVERS:

The growing number of people suffering from intracranial conditions and the growing aging population worldwide majorly drive the growth of the intracranial stents market. People are more likely to experience intracranial conditions with growing age due to the habits they make, and such a population has seen a rise in recent years and the same resulted in the growing need for effective treatments, such as intracranial stents.  WHO says that stroke is the second most common cause of death and the third most common cause of impairment around the world. The American Heart Association also says that about 6 million people in the U.S. have brain aneurysms that have not yet burst.

The growing number of advancements in the design of intracranial stents and rapid adoption of technological advancements in developing and manufacturing well-advanced intracranial stents further propel the market growth. For instance, the invention of self-expanding and flow-directing stents has changed the way that difficult intracranial conditions are treated. Intracranial stents are becoming more popular because of improvements in technology that make them easier to use, more precise and better for patients.

The growing prevalence of neurovascular disorders, advancements in stent technology, including self-expanding and drug-eluting stents, growing aging population and improved awareness and diagnosis of neurovascular diseases drive the demand for intracranial stents and boost the market growth. The growing preference for minimally invasive procedures, technological advancements and innovation in intracranial stents, favorable reimbursement policies for intracranial stent procedures and the growing number of R&D activities in neurovascular interventions contribute to the growth of the intracranial stents market. The growing number of collaborations between medical device manufacturers and healthcare providers, increasing number of improvements in the healthcare infrastructure and access to specialized neurovascular treatments further promote the intracranial stents market.

MARKET RESTRAINTS:

The stringent regulatory approval process, high cost of intracranial stents and risk of complications and adverse events associated with intracranial stents primarily hamper market growth. Limited awareness and expertise among healthcare professionals and patients, reimbursement challenges and delays and the availability of alternative treatment options affect the demand for intracranial stents and hinder the market growth. Ethical and legal concerns surrounding the use of intracranial stents, limited long-term clinical evidence affecting physician confidence and patient acceptance, inadequate healthcare infrastructure and specialized centers limit the utilization of intracranial stents and impede the market growth.

REPORT COVERAGE:

This research report on the global intracranial stents market has been segmented and sub-segmented based on the type, application, end-user, and region.

Intracranial Stents Market - By Type:

• Self-expanding Stents
• Balloon Expanding Stents
• Stent-assisted Coil Embolization

Based on type, the self-expanding stents segment is anticipated to account for the largest share of the global market during the forecast period. Factors such as the advancements in stent design and materials, leading to improved flexibility, conformability, and vessel wall apposition, rapid adoption of minimally invasive procedures and endovascular techniques for neurovascular interventions, favorable clinical outcomes and lower rates of complications associated with self-expanding stents majorly drive the growth of the self-expanding stents segment in the global market.

The self-assisted coil embolization segment is expected to hold a considerable share of the worldwide market during the forecast period. The rising prevalence of intracranial aneurysms, increasing need for minimally invasive treatment options, advancements in stent-assisted coil embolization techniques, including improved stent designs and coil delivery systems, high success rates and favorable clinical outcomes associated with stent-assisted coil embolization primarily boost the growth rate of the self-assisted coil embolization segment.

Intracranial Stents Market - By Application:

• Intracranial Stenosis
• Brain Aneurysm

Based on application, the intracranial stenosis segment is estimated to capture the leading share of the global market during the forecast period owing to the growing awareness and screening for intracranial stenosis and advancements in stent technology and techniques that allow for precise placement and improved outcomes. Rising emphasis on secondary stroke prevention and the role of intracranial stents in reducing the risk of recurrent strokes further boost the growth rate of the intracranial stenosis segment.

Intracranial Stents Market - By End-User:

• Hospitals
• Ambulatory Surgery Centers
• Others

Based on end-user, the hospital segment is expected to account for the major share of the worldwide market during the forecast period. The growing number of people suffering from neurovascular disorders requiring surgical interventions and specialized care available in hospitals, the availability of advanced imaging technologies and interventional radiology facilities within hospitals and the growing number of collaborations between hospitals and research institutions drive the segmental growth.

Intracranial Stents Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America is expected to continue dominating the intracranial stents market during the forecast period. The growing incidence of neurovascular disorders, such as intracranial aneurysms and strokes, the availability of advanced healthcare facilities, skilled healthcare professionals, and technologically advanced intracranial stent devices primarily drive the growth of the North American market. Strong research and development activities that foster innovation and introduce novel intracranial stent technologies further drive regional market growth. The U.S. is expected to occupy the major share of the North American market in the coming years owing to the growing healthcare expenditure and favorable reimbursement policies for neuro-interventional procedures.

Europe is a noteworthy regional market for intracranial stents and is predicted to hold a substantial share of the worldwide market during the forecast period. The growing aging population, increasing incidence of neurovascular disorders and rising emphasis on early diagnosis and treatment of neurovascular conditions promotes the European market growth. The strong presence of key market players and active research and development activities in the region further support the growth of the European market. Germany, France and the UK are the major contributors to the European market and are projected to hold the major share of the European market in the coming years. The growing number of collaborations between healthcare institutions and industry players for innovative intracranial stent solutions primarily drives market growth in these countries.

APAC is anticipated to witness the fastest CAGR among all the regions in the worldwide market during the forecast period. An increasing geriatric population, a growing patient population of neurovascular disorders, rising investments in healthcare infrastructure, particularly in emerging economies and increasing awareness about neurovascular diseases majorly propel the growth in the Asia-Pacific region. China, Japan and India are estimated to hold the major share of the APAC market during the forecast period.

KEY MARKET PLAYERS:

Medtronic plc, Stryker Corporation, Johnson & Johnson Services, Inc., Terumo Corporation, MicroPort Scientific Corporation, Acandis GmbH, Balt Extrusion, Penumbra, Inc., Phenox GmbH and MicroVention, Inc. are some of the major players in the global intracranial stents market.