Intracranial Stents Total Addressable Market Growth & Trends
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.
Intracranial Stents Total Addressable Market Segmentation
Grand View Research has segmented the global intracranial stents total addressable market on the basis of application, product, end user, and region:
Based on the Application Insights, the market is segmented into Intracranial Stenosis, Brain Aneurysm, Others (Idiopathic Intracranial Hypertension etc.).
- The intracranial stenosis segment dominated the market for intracranial stents and accounted for a revenue share of 40.0% in 2021. It comprises stenosis caused by Intracranial Atherosclerotic Stroke (ICAS) and Intracranial Atherosclerotic Disease (ICAD). Increasing initiatives by key market players and rising disease prevalence are estimated to fuel segment growth in the near future. The Wingspan Stent System with Gateway PTA Balloon Catheter from Stryker, for example, is intended for ICAD. It is authorized under a Humanitarian Device Exemption (HDE).
- The brain aneurysm segment, on the other hand, is estimated to grow at the fastest rate of dover 5.0% over the forecast period. As per National Health Service in the UK, surgery can be used to treat ruptured brain aneurysms. Preventative surgery may be recommended if there is a high risk of rupture. Stents may be used as part of endovascular coiling procedure to hold the coils in place within the aneurysm, especially if the aneurysm has a wide neck.
Based on the Product Insights, the market is segmented into Embolization Coil Support Intracranial Stents, Self-expanding Stents, Others.
- The self-expanding stents segment dominated the market for intracranial stents and accounted for the largest revenue share of over 35.0% in 2021. The others segment is expected to witness the fastest CAGR over the forecast period. The others segment includes balloon-expanding and other stents, and venous sinus stents. Growing geriatric population, increasing incidence of intracranial disorders and introduction of innovative products will drive segment growth.
- The APOLLO Intracranial Stent System from MicroPort Scientific Corporation is intended specifically 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 is expected to drive the market for intracranial stents.
Based on the End-user Insights, the market is segmented into Hospitals, Ambulatory Surgical Centers, Others.
- By end user, the hospitals segment held the largest revenue share of over 40.0% in 2021. This is owing to higher number of surgeries performed within hospitals, high adoption of technologically advanced equipment, and the increasing number of hospitals worldwide.
- The others segment mainly includes medical or research institutes and specialty centers. It is estimated to grow at the fastest rate in the coming years. In March 2020, Sree Chitra Tirunal Institute for Medical Sciences and Technology in India developed an intracranial flow diverter stent for treating brain aneurysms. Such initiatives are expected to propel segment growth.
Intracranial Stents Total Addressable Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
Key Companies Profile & Market Share Insights
The market for intracranial stents is competitive in nature. Large, multinational companies such as Stryker and Medtronic hold a notable share of the market. Other companies focus of their key markets in terms of geography and product lines.
Some of the prominent players operating in the global 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 the Intracranial Stents Total Addressable Market Intelligence Study, published by Grand View Research.
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