The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Intracranial Stents Global Market Report 2024, the intracranial stents market is expected to show significant growth in the forecast period.

The intracranial stents market has experienced rapid growth in recent years, ascending from $0.42 billion in 2023 to an estimated $0.49 billion in 2024, boasting a noteworthy Compound Annual Growth Rate (CAGR) of 15.8%. This escalation is underpinned by increased awareness of stroke risks, improved patient education, enhanced radiation safety measures, a growing aging population, and the advent of minimally invasive techniques.

Anticipating Rapid Growth: The Trajectory Ahead Projections for the Future Expectations for the intracranial stents market remain robust, with a projected valuation of $0.87 billion in 2028, reflecting a compelling CAGR of 15.5%. This anticipated surge is attributed to the expansion of telehealth services, the adoption of genomic medicine, the rise in healthcare infrastructure, the proliferation of stroke rehabilitation services, and a surge in health initiatives. Several key trends are set to define the market landscape.

Addressing the Surge in Brain Aneurysms A Critical Driver of Growth The rising incidence of brain aneurysms is poised to be a key driver in the growth of the intracranial stents market. With brain aneurysms posing a severe threat due to potential ruptures leading to brain hemorrhage, intracranial vessel stenting (IVS) emerges as a minimally invasive solution for treating cerebral artery stenosis. Approximately 3.2% of people worldwide have unruptured aneurysms, as reported by Medical News Today in February 2023, underscoring the significance of this market growth driver.

Major Players Steering Advancements Leaders in Innovation Major companies such as Medtronic PLC, Stryker Corporation, and Boston Scientific Corporation play a pivotal role in propelling the intracranial stents market forward. These industry leaders contribute to the market’s dynamism through innovations, extensive research and development, and strategic partnerships.

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Innovations Transforming the Landscape Revolutionary Product Introduction Innovations such as the Onyx Frontier drug-eluting stent (DES) by Medtronic PLC exemplify the transformative potential within the intracranial stents market. Launched in August 2022, this DES is designed to treat coronary artery disease, showcasing its versatility and potential applications. The stent’s architecture caters to sophisticated percutaneous cardiac interventions, promising enhanced delivery mechanisms and acute performance.

Technology Transfer Agreements Paving the Path Collaborative Advancements In January 2021, Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST) entered into Technology Transfer Agreements with Biorad Medisys. This collaboration led to the development of innovative biomedical implant devices, including an Atrial Septal Defect Occluder and an Intracranial Flow Diverter Stent. These advancements utilize superelastic NiTiNOL alloys and showcase the collaborative potential between research institutes and industry players.

Market Segmentation: Understanding Diversity Navigating Market Segments The intracranial stents market is segmented into:

1. Type: Self Expanding Stents, Balloon Expanding Stents, Stent-Assisted Coil Embolization
2. Disease Indication: Brain Aneurysm, Intracranial Stenosis
3. End-User: Hospitals, Ambulatory Surgery Centers, Other End-Users

Regional Dynamics: Leading and Emerging Regional Growth Insights In 2023, North America claimed the title of the largest region in the intracranial stents market, reflecting the region’s prominence in the healthcare sector. However, Asia-Pacific is poised to be the fastest-growing region during the forecast period, marking a significant shift in the global market dynamics.

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