Intracranial Stents Market to Surpass USD 1143.0 Million by 2026

The global intracranial stents market was valued at USD 313.5 million in 2017, and is projected to exhibit a CAGR of 15.6 percent from 2018 – 2026. Increasing number of neurological disorders and traumatic accidents is propelling demand for introduction of technically advanced intracranial stents to treat intracranial atherosclerosis or brain aneurysm, which in turn is directly contributing to growth of the intracranial stent market. For instance, according to the United Nations data of 2011, around 1 billion people, i.e., 1 in every 6 of the world’s population suffered from neurological disorders such as epilepsy, Alzheimer’s, strokes, multiple sclerosis, and migraines. Furthermore, According to Centers for Disease Control and Prevention, 2014, around 2.5 million cases of traumatic accidents are registered in US that lead to brain infection, meningitis, and aneurysm, which in turn is propelling the intracranial stents market growth.

However, the intracranial stents market appears to be highly concentrated due to the presence of few vendors in the market. Moreover, the product is facing fewer acceptances among surgeons due to the risks of complications regarding the stent movement and bleeding in the brain after surgery. Furthermore, stringent government regulations regarding the use of intracranial stents to a specific age group of patients and severity of the condition of the patient, delays the entry of product in this market. Key players in the intracranial stents market are focused on improving the quality of stents, which can maintain the position of endovascular coils during and after the procedure, thereby increasing product acceptance by healthcare professionals and patients.

Moreover, various key players are engaged in obtaining product approval from regulatory authority to increase their geographical reach and strategic collaborations, mergers and acquisitions to retain leading position in market. For instance, in February 2016, Codman Neuro launched the Codman Enterprise 2 Vascular Reconstruction Device, a self-expanding stent and delivery system used to treat wide-necked intracranial aneurysms and helps secure the placement of endovascular coils during and after the procedure and maintains blood flow through the artery. Furthermore, in January 2017, MicroPort Medical (Group) Co., Ltd. received China Food and Drug Administration (FDA) approval for their portfolio of APOLLO Intracranial Stent System in large sizes, for treating intracranial artery stenosis by improving blood supply in cerebral arteries. – Coherent Market Insights