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Intracranial Stents Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033
Intracranial Stents Market Share
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According to The Business Research Company's, The intracranial stents market size has grown rapidly in recent years. It will grow from $0.42 billion in 2023 to $0.49 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth in the historic period can be attributed to increased awareness of stroke risks, improved patient education, rise in radiation safety measures, increased aging population, emergence of minimally invasive techniques.
The intracranial stents market size is expected to see rapid growth in the next few years. It will grow to $0.87 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The growth in the forecast period can be attributed to expansion of telehealth services, adoption of genomic medicine, rising healthcare infrastructure, expansion of stroke rehabilitation services, rising health initiatives. Major trends in the forecast period include adoption of bioresorbable intracranial stents, adoption of neurointerventional robotics, integration of advanced imaging technologies, adoption of pediatric intracranial stents, developing dual antiplatelet therapy strategies.
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Market Drivers and Trends:
The increase in incidence of a brain aneurysm is expected to propel the growth of the intracranial stents market in the coming years. A brain aneurysm is the development of a bulge in the blood vessels of the brain. This bulge may rupture or burst and can cause brain haemorrhage, which may lead to the death of the patient. Intracranial vessel stenting (IVS) is a minimally invasive treatment for treating serious cerebral artery stenosis. The weakening of the arteries that deliver blood to the brain is known as cerebral artery stenosis. For instance, in February 2023, according to the Medical News Today, a UK-based medical news website, about 3.2% of persons worldwide have unruptured aneurysms. Thus, the increasing incidence of a brain aneurysm will drive the intracranial stents market growth.
Major companies operating in the intracranial stents market are innovating new products such as Onyx Frontier drug-eluting stent (DES) to increase their profitability in the market. Onyx Frontier is a drug-eluting stent (DES) used to treat coronary artery disease (CAD), which is brought on by plaque accumulation inside the coronary arteries. For instance, in August 2022, Medtronic plc, an Ireland-based medical devices company launched Onyx Frontier drug-eluting stent (DES). The stent's architecture makes it ideal for sophisticated percutaneous cardiac intervention (PCI) and is highly deliverable. The Resolute Onyx DES's acute performance and clinical data provide the foundation for the Onyx Frontier DES, which provides a better delivery mechanism and greater acute performance.
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Major Key Players of the Market:
Medtronic plc, Balt Extrusion LLC., Stryker Corporation, MicroPort Scientific Corporation, Boston Scientific Corporation, Acandis GmbH, Admedes Schuessler GmbH, MicroVention Inc., Phenox GmbH, Terumo Corporation, Johnson & Johnson Services Inc., Abbott Laboratories, Brainlab AG, Cardiatis SA, Cook Medical LLC, DePuy Synthes, Endologix Inc., InspireMD Inc., Integra LifeSciences Corporation, Kaneka Corporation, Kerecis Limited, Penumbra Inc., Rapid Medical Ltd., Vascular Solutions Inc., W. L. Gore & Associates Inc., Biotronik SE & Co. KG, Cardionovum GmbH, Codman Neuro, C.R. Bard Inc., Cerebral Stents.
Intracranial Stents Market 2024 Key Insights:
• The intracranial stents market size is expected to see rapid growth in the next few years. It will grow to $0.87 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%.
• Rising Incidence Of Brain Aneurysms Boosts Growth In The Intracranial Stents Market
• Innovative Onyx Frontier Drug-Eluting Stent Revolutionizes The Intracranial Stents Market
• North America was the largest region in the intracranial stents market in 2023
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