Intracranial Stenosis Stents Market Size & Share 2023 to 2032
Market Size by Type (Self-expanding Stents, Embolization Coil Support Intracranial Stents, Venous Sinus Stents, Balloon-expanding Stents), by End Use (Hospitals and Clinics.
Report ID: GMI6416
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Published Date: August 2023
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Report Format: PDF
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Authors:
Monali Tayade, Pratiksha Kamthe
Intracranial Stenosis Stents Market Size
Intracranial Stenosis Stents Market size was valued at USD 790 million in 2022 and is estimated to account for USD 1.3 billion by 2032.
Intracranial Stenosis Stents Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Intracranial stenosis stents are medical devices used to treat the narrowing of blood vessels within the brain, a condition known as intracranial stenosis. These stents are small, flexible metal mesh tubes implanted in the narrowed blood vessels to widen and reinforce them, restoring proper blood flow and reducing the risk of stroke. Intracranial stenting or angioplasty with stenting is minimally invasive and involves delivering the stent through a catheter inserted into an artery, usually accessed through the femoral artery in the leg.
This approach aims to prevent ischemic strokes and improve patient outcomes by promoting better blood flow to the affected brain region. The market for intracranial stenosis stents is anticipated to grow owing to the growing awareness of minimally invasive treatment options and the advancement of medical technologies.
The growing prevalence of intracranial diseases, such as stroke and atherosclerosis is one of the major driving factors for the market progress. There has been a significant increase in the incidence of intracranial diseases such as atherosclerosis and vascular conditions worldwide. These conditions partially lead to intracranial stenosis, where blood vessels in the brain narrow, potentially causing strokes and other neurological complications. Additionally, several factors such as an aging population base and lifestyle changes contribute to the rising prevalence of risk factors including hypertension and diabetes, that lead to intracranial disease.
For instance, according to the American Heart Association (AHA), each year about 795,000 new or recurrent strokes occur in the U.S. The prevalence has resulted in a higher demand for effective treatment, such as intracranial stenosis stents, to manage the condition and reduce the risk of stroke-related complications. Furthermore, patients and healthcare providers are increasingly seeking minimally invasive treatment options due to their numerous benefits. Compared to traditional surgical procedures, minimally invasive approaches involve smaller incisions, reduced trauma, shorter hospital stays, and quicker recovery times. Intracranial stenting is a less invasive alternative to open surgeries making it more appealing to patients and contributing to market expansion.
COVID-19 Impact
The COVID-19 pandemic had a negative impact on the intracranial stenosis stents market initially, similar to many other sectors in healthcare. During the early phase of the pandemic, hospitals were overwhelmed with COVID-19 patients, leading to the postponement of elective procedures, including intracranial stent placements. The focus was primarily on managing COVID-19 cases and ensuring the safety of healthcare staff and patients.
However, with time and as healthcare systems adopted covid measures, there was a steady recovery and growth in the market. The resumption of elective procedures, aided by advancements in telemedicine and remote patient monitoring healthcare services allowed for the identification of cases requiring intracranial stenosis stents. As the effects of the pandemic subsided and healthcare services normalized, the demand for intracranial stenosis stents grew due to the increasing prevalence of neurological conditions and an aging population base.
Intracranial Stenosis Stents Market Trends
Ongoing advancements in medical technology led to the development of more sophisticated and effective intracranial stents. These innovations include improved stent designs, biocompatible materials, and better delivery systems, resulting in enhanced safety and efficacy of the stenting procedure. For instance, Wallaby/phenox introduced the pEGASUS HPC stent, featuring an innovative anti-thrombogenic HPC coating technology. The stent is specifically designed for patients with intracranial aneurysms and stenoses in intracranial atherosclerotic disease (ICAD).
The launch of this new stent marks a significant advancement in the field of neurovascular interventions and offers promising treatment options for individuals with neurological conditions. As the technology continues to evolve, it attracts greater interest from medical professionals and further fuels the demand for intracranial stenosis stents. Furthermore, the global population is aging, with a higher proportion of elderly individuals. As people age, they become more susceptible to vascular diseases and intracranial stenosis. The elderly population base often seeks medical intervention to improve their quality of life and prevent serious health issues including strokes.
For instance, according to the World Stroke Organization's 2022 report, there are over 12.2 million new stroke cases reported annually worldwide. The highest prevalence of stroke occurs in individuals aged 70 years and above, accounting for 67% of cases followed by those aged between 15 and 49 years representing 22% of cases. Consequently, the growing geriatric demographic contributes to the rising demand for intracranial stenosis stents as a means of effective treatment.
Intracranial Stenosis Stents Market Analysis
The intracranial stenosis stents market by type is categorized into self-expanding stents, embolization coil support intracranial stents, venous sinus stents, and balloon-expanding stents. The self-expanding stents segment garnered USD 286.3 million revenue size in the year 2022. Self-expanding stents offer several advantages including minimally invasive deployment, accurate placement, flexibility, reduced risk of complications, and long-term stability. The less invasive procedure with smaller incisions leads to faster recovery times and shorter hospital stays, making self-expanding stents a preferred choice for patients and healthcare providers. With lower risks of adverse events and long-term stability, self-expanding stents are increasingly adopted in neuro interventional procedures contributing to the overall market growth.
Based on end-use, the intracranial stenosis stents market is segmented into hospitals and clinics, ambulatory surgical centers, and others. The hospitals segment dominated the market and accounted for 80.5% business share in the year 2022 and is anticipated to witness the highest growth during the forecast period. Hospitals have specialized neurovascular centers with skilled healthcare professionals and advanced medical equipment, allowing for accurate diagnosis and treatment of intracranial stenosis. Their multidisciplinary approach and higher patient volume contribute to the frequent utilization of intracranial stenosis stents.
Moreover, hospitals' established relationships with insurance companies and participation in research and clinical trials further promotes the adoption of cutting-edge stent technologies. The availability of reimbursement and insurance coverage also facilitates patient access to these devices. Thus, hospitals' expertise, resources, and capacity to treat a large number of patients with complex neurological conditions significantly influence the demand for intracranial stenosis stents, thereby driving the market progress.
U.S. intracranial stenosis stents market accounted for USD 281.1 million revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline. The U.S. has a high prevalence of neurological conditions, including intracranial stenosis due to factors such as an aging population and an increasing incidence of risk factors such as hypertension, diabetes, and high cholesterol. For instance, according to the Centers for Disease Control and Prevention (CDC) in the U.S. over 795,000 people experience a stroke annually with approximately 610,000 being first-time occurrences, and ischemic strokes, obstructing blood flow to the brain, constitute 87% of all strokes.
Moreover, the American Stroke Association's report indicates there is a rising trend in stroke cases among younger and middle-aged adults (below 49), particularly in the South and Midwest regions of the country. This higher disease burden drives the demand for intracranial stenosis stents as an effective treatment option. Furthermore, the U.S. serves as a hub for medical research and development, leading to continuous innovation and the introduction of advanced stent technologies. Growing awareness about neurological conditions and the concentration of leading medical device companies in the country will further bolster the market expansion.
Intracranial Stenosis Stents Market Share
Some of the eminent market participants operating in the intracranial stenosis stents market include:
These market players are undertaking several growth strategies including partnerships, collaborations, acquisitions & mergers, along with new product development & launches to strengthen their product portfolio as well as gain a competitive edge over others.
Intracranial Stenosis Stents Industry News:
The intracranial stenosis stents market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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By Type (USD Million & Units)
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