Intracranial Stents Market Opportunities by Types, Demand, Top Manufactures and Application in Grooming Regions

The global intracranial stents market is projected to demonstrate significant growth during the forecast period. Factors contributing to the growth of the market include large pool of patients suffering from brain aneurysm and stroke; and increase in the prevalence of high blood pressure, which is a high-risk factor for cerebral aneurysm.

Based on the product type, the intracranial stents market is categorized into self-expanding intracranial stents, and embolization coil support intracranial stents. Of these product types, the embolization coil support intracranial stents led the market in terms of size, during the historical period. On the basis of disease indication, the market is categorized into brain aneurysm and intracranial stenosis.

Hospitals and ambulatory surgical Centers (ASCs) are the major end users in the intracranial stents market. During the historical period, the market generated higher revenue in the end-user category of hospitals, mainly due to the increased prevalence of brain aneurysm and stroke, and increased number of surgical procedures.

Geographically, North America held the largest share in the intracranial stents industry in 2017, followed by Europe. The North American market is primarily driven by increase in the adoption of technologically advanced intracranial stents, presence of key established players, developed reimbursement policies, and increasing prevalence of cerebral aneurysm in the region. According to the Brain Aneurysm Foundation, it has been estimated that 6 million people in the U.S. have an unruptured brain aneurysm. These growing number of patients require stenting, which in turn is expected to boost the growth of the regional market.

During the forecast period, Asia-Pacific is expected to be the fastest growing market for intracranial stents, on account of increasing aging population, and rising prevalence of high blood pressure and stroke in the developing countries particularly, India and China.

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The growing prevalence of high blood pressure, which is considered as a high-risk factor for cerebral aneurysm and stroke; growing aging population; and technological advancements are some of the substantial factors driving the growth in intracranial stents market.

According to the Centers for Disease Control and Prevention (CDC) data, stroke is the 5th leading cause of death in the U.S., killing about 140,000 Americans each year. This large patient pool costs the nation $34 billion annually, including the cost of health care services, medications, and lost productivity. This large volume of patients with stroke require intracranial stenting, which is expected to contribute to the growth of the intracranial stents market in the coming years.

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Furthermore, the aging population is more susceptible to suffer from high blood pressure, that further drives the market growth. As per the Brain Aneurysm Foundation data, people at age 35-60 years have high susceptibility to brain aneurysm, and the median age when aneurysmal hemorrhagic stroke occurs is 50 years old. Thus, rise in aging population, globally, is expected to contribute to the high demand of intracranial stents, that will propel the market growth. As per United Nation’s data, it is estimated that aging population will rise from 962 million in 2017 to 2.1 billion in 2050 and 3.1 billion in 2100, globally.

The market players are strengthening their position in the intracranial stents market through expansion of their product portfolio; by product launches and approvals. For instance, in May 2018, MicroVention, Inc., a U.S. based subsidiary of Terumo Corporation received the USFDA Premarket Approval (PMA) for the Low profile Visualized Intraluminal Support (LVIS) and LVIS Jr. stents for stent-assisted coil embolization of intracranial aneurysms. The devices are the first and only (as per the company) stents PMA approved for stent-assisted coil embolization and only the second PMA approved device designed for intracranial aneurysm treatment. These devices were already approved for use in the U.S. under Humanitarian Device Exemption (HDE) since 2014, and with the new PMA approval, it can be potentially be used to treat an increased number of patients.