18-Jan-2023 | Facts and Factors
According to Facts and Factors, the global neurovascular stents market size was worth around USD 1047.8 million in 2021 and is predicted to grow to around USD 2242 million by 2030 with a compound annual growth rate (CAGR) of roughly 10 % between 2022 and 2030.
Polymer or metal is used to produce neurovascular stents for treating ischemic strokes and stenosis formation. Blood flow can be restored in case of embolic stroke and this rapid restoration of blood is possible with the use of neurovascular stents in thrombectomy procedures. Neurovascular stents are used in hospitals and clinics as well as in ambulatory surgical units. Intracranial stents and carotid artery stents are some of the products that have a greater demand in the market.
Browse the full “Neurovascular Stents Market Size, Share, Growth Analysis Report By Product Type (Carotid Artery Stent And Intracranial Stents), By Material (Metal And Polymer), By End-Users (Hospitals, Ambulatory Surgical Units, Clinics, And Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/neurovascular-stents-market
Growing incidences of brain aneurysms and cerebral disorders will have a positive impact on the global neurovascular stents market growth. An unhealthy diet is another cause of various disorders across the globe. Technological advancements and new techniques are some of the major factors driving market growth.
Other factors that will enhance market development are stress, reduced physical activity, the growing need for minimally invasive procedures, and excessive consumption of alcohol. Increased awareness programs and advanced technology will aid the neurovascular stents market growth.
The global neurovascular stents market is projected to grow owing to its increased use in hospitals. Neurovascular stents aid minimally invasive procedures because of which various diseases can be cured with the use of advanced technological products. Reimbursement policies across various nations are favorable and there have been improvements in hospital procedures & healthcare facilities that have led to an increased demand for neurovascular stents. Quality treatments and cost-effective procedures are provided at the ambulatory surgical units due to which many patients prefer surgical procedures at these surgical units.
Most of the surgeries make use of carotid artery stents and this product has a larger share as compared to the other products in the market. Cerebral aneurysms and brain aneurysms are prevalent in various nations. The insertion of a stent in the carotid artery post angioplasty with the help of an inflated balloon into the narrow passage of the artery is the procedure adopted in surgeries. Around 35,000 people in the U.S. suffer from brain aneurysms every year.
Research activities associated with the field are receiving an increased amount of investment to develop advanced devices to treat acute strokes. An ischemic stroke is a condition in which the brain is blocked due to a ruptured blood vessel. Aneurysms are also caused due to the weakening of artery walls which eventually rupture and cause bleeding due to which the heart and the brain are at risk.
The main challenge that the global market players could face is the complications associated with the use of neurovascular stents and the high cost of these products. There are various challenges in commercializing these devices that will impede the market growth of the neurovascular stent market in the long run. Inadequate healthcare infrastructure and the unavailability of professionals will challenge the market growth.
Neurovascular stents would meet the growing demand for minimally invasive procedures as the cases of stenosis, malformation, and aneurysms are expected to increase in the coming years.
The global neurovascular stents market is segmented on the basis of product type, material, end-user, and region.
Based on product type, the global market segments are the intracranial stents segment and the carotid artery stents segment. In 2021, the global market witnessed the highest growth in the carotid artery stent segment as the success rate of the surgeries that make use of carotid stents is about 89%. Increased use of these stents in developed economies is expected to generate higher revenues. The carotid artery stent segment is expected to show a compound annual growth rate of 5.8% in the estimated time frame.
Based on the end-user, the global market segments are hospitals segment, ambulatory surgical units, and others. In 2021, the global market witnessed the highest revenue generated in the hospital segment due to many surgeries taking place at these units. Less invasive procedures have a greater demand and the availability of technologically advanced products in hospitals will help in the growth of the market.
Hospital procedures have favorable reimbursement policies for neurovascular stent surgeries. Cost-effective procedures are provided at the ambulatory surgical units and the quality of this treatment will also increase the preference of the patients towards these centers. The hospital segment is expected to register a compound annual growth rate of 5.8%.
North America is anticipated to lead the global neurovascular stent market as it has previously been a larger market having a share of about 39%. The presence of various market players in North America is anticipated to drive market growth and also strengthen the country's hold over the global market.
Higher prevalence of stenosis and malformation are the cerebral disorders leading to a greater demand for neurovascular stents. Initiatives taken by the government in the North American regions will help in modernizing the healthcare infrastructure and provide better access to medical treatments that make use of technologically advanced equipment. Innovative devices and advanced neurovascular devices have seen a good demand in the Asia-Pacific region due to a growth in awareness by drives conducted in various nations. Healthcare expenditure in the Asia-Pacific region is increasing and many patients are opting for these surgeries.
Market Size in 2021
USD 1047.8 Million
Projected Market Size in 2030
USD 2242 Million
CAGR Growth Rate
Key Market Players
BD, Cook, B. Braun Melsungen AG, Medtronic, Terumo Corporation, Lombard Medical, Johnson and Johnson Private Limited, Cardinal Health, Boston Scientific Corporation, MicroPort Scientific Corporation, Merit Medical Systems , and others.
By Product Type, Material, End-User, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global neurovascular stent market is led by players like BD, Cook, B. Braun Melsungen AG, Medtronic, Terumo Corporation (Japan), Lombard Medical, Johnson and Johnson Private Limited, Cardinal Health, Boston Scientific Corporation, MicroPort Scientific Corporation, Merit Medical Systems and others.
- In February 2021, an announcement was made by Medtronic for the expansion of the site release which was limited to their acquired radial artery access portfolio from the organization named RIST Neurovascular Inc.
- In January 2021, a strategic collaboration was announced by penumbra incorporated and Genesis MedTech group for the expansion of the neurovascular market in China. For the formation of a neurovascular franchise, Hua MedTech will be acquired by the organizations.
The global neurovascular stents market is segmented as follows:
By Product Type
- Carotid artery stent
- Intracranial stents
- Ambulatory surgical units
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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