Intracranial Stents Market Size, Share, Industry Trends and Forecast to 2030

Intracranial Stents Market Size & CAGR in 2021

The global intracranial stents market is anticipated to showcase a Compound Annual Growth Rate (CAGR) of 4.2% from 2021 to 2028. With this growth rate, the market size is expected to reach USD 785 million by the end of 2028.

COVID-19 Impact on the Intracranial Stents Market

The COVID-19 pandemic had a significant impact on the global healthcare industry, including the intracranial stents market. The outbreak of COVID-19 led to disruptions in the supply chain, delayed elective procedures, and reduced patient visits to hospitals. These factors affected the uptake of intracranial stents, resulting in a temporary slowdown in market growth. However, as healthcare systems have adapted to the pandemic, the market is gradually recovering, with increased demand for intracranial stents expected in the post-pandemic period.

Intracranial Stents Dynamics

The global intracranial stents market is driven by factors such as the increasing prevalence of cerebrovascular diseases, advancements in stent technologies, and rising adoption of minimally invasive procedures. The market is also influenced by factors such as the growing geriatric population, technological innovations, and collaborations between industry players. However, challenges such as stringent regulatory requirements, high cost of intracranial stents, and limited reimbursements in certain regions could hinder market growth.

Segments and Related Analysis

The intracranial stents market is segmented based on product type, material, end-user, and region. By product type, the market can be categorized into self-expanding stents, balloon-expandable stents, and others. Based on material, the market includes nitinol, cobalt-chromium, platinum-chromium, and others. End-users of intracranial stents are hospitals, ambulatory surgical centers, and specialty clinics. Regionally, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

By Region Analysis

- North America: The North American region is expected to be a significant market for intracranial stents due to the presence of advanced healthcare infrastructure and high healthcare expenditure. - Europe: Europe is anticipated to witness considerable growth in the intracranial stents market, driven by technological advancements and increasing incidence of neurovascular diseases. - Asia Pacific: The Asia Pacific region is projected to grow at a rapid pace, supported by growing healthcare investments, rising awareness about cerebrovascular diseases, and improving healthcare access. - Latin America: Latin America is forecasted to show steady growth in the intracranial stents market, propelled by improving healthcare facilities and increasing adoption of minimally invasive procedures. - Middle East and Africa: The Middle East and Africa region are expected to witness a moderate growth rate in the intracranial stents market, driven by a growing focus on healthcare infrastructure development and rising disease prevalence in the region.

Key Market Players and Competitive Landscape

Major players in the intracranial stents market include Abbott Laboratories, Medtronic plc, Stryker Corporation, MicroPort Scientific Corporation, and Penumbra, Inc. These companies are focusing on product innovations, strategic collaborations, and acquisitions to strengthen their market presence and expand their product portfolios. The competitive landscape of the market is characterized by intense competition, technological advancements, and regulatory approvals.

Recent Happenings in the Intracranial Stents Market

- In March 2021, Medtronic plc received FDA approval for its new intracranial stent system, designed to treat patients with cerebrovascular diseases. - In June 2021, Penumbra, Inc. announced the launch of its next-generation intracranial stent for the treatment of cerebral aneurysms. - In August 2021, Stryker Corporation acquired a leading manufacturer of intracranial stents, expanding its presence in the neurovascular devices market. - In November 2021, Abbott Laboratories introduced a novel intracranial stent with advanced features for the treatment of ischemic strokes.