Industry Outlook
Intracranial stents market accounted for a market value of US$ 293.7 Mn in 2017 and projected to grow at a CAGR of 9.9% during the forecast period from 2018 to 2026. Rising prevalence and awareness related to intracranial cerebral atherosclerosis is identified as one of the key factors responsible for growth of intracranial stents market. Highest reported incidence of intracranial cerebral atherosclerosis was found in the Asian, Hispanic, and African descent population; around 8 to 10% of all ischemic strokes are result of intracranial cerebral atherosclerosis. According to Centers for Disease Control and Prevention (CDC), 40,000 to 60,000 new strokes per year are recorded in the United States due to intracranial cerebral atherosclerosis. Thus, overall growth of intracranial stents market will continue at significant rate.
"Self-expanding intracranial stents identified as the fastest growing intracranial stents market throughout the forecast period"
Self-expanding intracranial stents identified as the most advanced and efficient intracranial stents due to presence of minimum side effects, increasing awareness related to safe intracranial stents, and convenient application. Thus, post-surgery benefits compared to other intracranial stents are high in self-expanding intracranial stents due to which it is the fastest growing segment throughout the forecast period from 2018 to 2026. However, higher cost of procedure and limited availability of skilled medical professionals expected to restraint the overall market growth in developing and under developed countries. As intracranial stenting is currently preferred in most developed countries to prevent intracranial atherosclerotic disease but in most of the developing countries, it is opted when aggressive drug therapy fails to provide desired results.
"High prevalence of intracranial atherosclerotic disease in Asian countries will drive overall market for intracranial stents in this region"
Asia Pacific identified as the fastest growing intracranial stents market due to key market drivers such as highest prevalence of intracranial atherosclerosis disease in Asia, rising awareness related to upgradation of neurological healthcare facilities, and increasing demand for effective & minimally invasive neurological surgery. A transcranial Doppler study published suggested that the prevalence of asymptomatic middle cerebral artery (MCA) stenosis was in a range of 10% to 20% among Asian population that possessed vascular risk factors without a background of stroke. Thus, Asia Pacific expected to make significant growth throughout the forecast period from 2018 to 2026.
The key players operating in the market profiled based on financial information, product portfolio, latest market updates, and major market strategies. This report also includes attractive investment proposition studied with the help of extensive geographical research based on PESTEL analysis. Major companies profiled in the report include Boston Scientific Corporation, Johnson & Johnson Services, Inc., Stryker Corporation, Penumbra, Inc., Medtronic plc, Terumo Corporation, and Cook Medical among others among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2023 to 2033 considering 2024 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2025 to 2033.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Intracranial Stents market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE | DETAILS |
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Research Period | 2023-2033 |
Base Year | 2024 |
Forecast Period | 2025-2033 |
Historical Year | 2023 |
Unit | USD Million |
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Disease
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Region Segment (2023-2033; US$ Million)
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Key questions answered in this report