Press release
Neurovascular Stent Market Value Projected to Expand by 2027
Stent is a medical device that can provide scaffolding to organ walls and vessels to keep the arteries open
Neurovascular stent is a tube-like, flexible, and small device. Neurovascular stent is either made from polymer or metal.
Various types of stents have been used in the field of neurovascular diseases such as aneurysms and atherosclerosis
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In 2002, Neuroform Stent (Stryker) was approved by the U.S. Food and Drug Administration (USFDA), followed by Enterprise stent (Cordis) in 2007, for use in coil embolization of wide-necked intracranial aneurysms
The device is used to treat several conditions related to brain such as ischemic stroke and stenosis formation in the blood vessels
Key Drivers of Global Neurovascular Stent Market
Increase in prevalence and incidence of neurovascular diseases such as stenosis, ischemic stroke, brain aneurysm, and other illnesses related to neurovascular system primarily drives the global neurovascular stent market
According to the Global Burden of Disease (GBD) 2016, stroke is the second leading cause for the death worldwide. An estimated 5.5 million deaths were occurred due to stroke in 2016.
Additionally, rise in excessive alcohol consumption, unhealthy diet, less physical activity, smoking, and stress has increased the incidence of various neurovascular diseases such as cerebral aneurysms. These factors are expected to drive the neurovascular stents market during the forecast period.
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Carotid Artery Stents Segment Accounted for Major Share of Global Neurovascular Stent Market
Based on product type, the global neurovascular stent market can be divided into carotid artery stents and intracranial stents
The carotid artery stents segment is anticipated to be the dominating segment during the forecast period
Rise in incidence and prevalence of brain and cerebral aneurysm is projected to increase the need for carotid artery stents
Additionally, increase in technologically advanced neurovascular stents is expected to drive the carotid artery stents segment during the forecast period
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Hospital Segment to Offer Attractive Opportunities
In terms of end-user, the global neurovascular stent market can be classified into hospitals, ambulatory surgical centers, and others
The hospitals segment is expected to account for major share of the global neurovascular stent market by 2027
The segment dominance can be attributed to increase in number of hospitals
However, the ambulatory surgical centers segment is expected to grow at a higher CAGR due to increase in minimally invasive surgeries at ambulatory surgical centers
North America to Dominate the Global Neurovascular Stent Market
In terms of region, the global neurovascular stent market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period.
Factors such as rise in incidence of cerebral disorders such as malformation, stenosis, and brain aneurysm are expected to drive the market in the region in the near future
Additionally, increase in acceptance of minimally invasive procedure to treat neurovascular diseases is expected to drive the market during the forecast period
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Key Players Operating in Global Market
The global neurovascular stent market is consolidated with the presence of few international players taking up the major share of the global neurovascular stent market. Key players operating in the global neurovascular stent market are:
Abbott
Medtronic
Stryker
Terumo
Gore & Associates
Johnson & Johnson Services, Inc.
Cardinal Health
MicroPort Scientific Corporation
Acandis Gmb
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