Press release
Stent Retriever Market reaching nearly USD 1142.63 Million in 2030.
Stent Retriever Market
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Market Overview
Stent retrievers are a type of device that doctors use in the procedure that finds and removes blood clots from brain arteries during an acute ischemic stroke. They are designed for effective and efficient clot capture and retrieval, thus restoring flow and reducing neurological injury. Given the rising prevalence of ischemic strokes and an equally growing geriatric population, the demand for safe and minimally invasive treatment options have risen significantly, making stent retrievers an essential tool in treatment of modern stroke care.
Key Market Drivers
More Ischemic Strokes: An increasing burden: Aging populations and lifestyle-related risk factors are contributing to the rising burden of ischemic strokes worldwide. Such upsurge; therefore, require advanced treatment modalities driving stent retrievers market.
Technological advancements: innovations in stent retriever design over time-better clot retrieval capabilities, flexibility, and efficiency decreased time to first pass effect-increased the utilization of stent retrieval in the clinical setting.
Reimbursement policies: The increasing insurance coverage, even for thrombectomy procedures, and favorable reimbursement frameworks for stent retriever treatments for acute MI will increase the accessibility of these technologies to patients and boost the market growth.
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Market Segmentation
Segmentation of stent retriever market by product type, application, end-user, material composition and geography
By Product Type:
Balloon Expandable Stents: This type of stent is expanded using an inflatable balloon and can be used to treat given anatomical locations.
Self-Expanding Stents: Self-expanding stents are made from materials such as nitinol and have the advantage of expanding automatically on deployment and can adapt to a range of vessel size compared to balloon-expandable stents.
By Application:
Ischemic Stroke Management: It includes mainly of removing thrombi for restoration of brain perfusion.
Other Neurovascular Disorders: Its practical application for treating disorders like intracranial atherosclerosis and aneurysms.
By End-User:
Hospitals: Where most strokes are treated, have well equipped neurointerventional units
Outpatient Facilities: Providing surgical options that require less invasive methods and recovery time than inpatient facilities.
Other: Such as Specific Clinics and Research Institutes
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Regional Insights
North America: The largest regional market, due to a strong healthcare infrastructure, high levels of awareness, and a high level of investments in research and development.
Europe: Growth supporting owing to favorable government initiatives, rising incidence of strokes, and increasing presence of key market players.
Asia-pacific a region showing fastest growth rate due to large patient pool, increasing healthcare facilities and improving knowledge related to stroke management.
ANALYSIS OF THE LABNEE MARKET BY REGIONS (INTERNATIONAL) Latin America And Middle East & Africa-Potential emerging markets which are currently growing with incremental improvements in accessibility and infrastructure.
Challenges and Opportunities
Challenges:
Both high associated procedural costs and the cost of a stent retriever can be prohibitive, particularly in underdeveloped regions, decreasing the uptake of this innovative device.
Limited Skilled Professionals: Stent retriever procedures cannot be performed by any interventionist, and a lack of trained neurointerventionalists can hinder these procedures from being performed on a larger scale. At the time of stent retriever study publication, under 150 credentialled neurointerventionalists existed in North America.
Competitive Landscape
Stent Retriever Market is witnessing a presence of several key players such as Medtronic, Rebound Therapeutics Corp, and others, as strategies such as mergers & acquisitions, product launch, and collaborations are gaining pace among industry players leading to a strong influence on the market. Notable companies include:
Stryker Corporation: A premier device provider offering innovative stent retrievers and other neurovascular devices,
Medtronic plc - Famous for its SolitaireTM stent retriever, Medtronic is doing their part by funding research focused on improving outcomes for stroke patients.
Terumo Corporation: About to gain an opportunity of a high degree leverage like the SOFIA catheter, which has been approved by the FDA.
Penumbra, Inc: Penumbra is a developer of innovative thrombectomy systems.
Conclusion
According to a new report, the global stent retriever market is anticipated to be led by growing prevalence of ischemic strokes as well as advancement in medical device technology. Though, the high cost of procedures and a lack of skilled personnel are some of the challenges faced by this market, the rising demand for product innovation and expansion into emerging markets are the opportunities for growth of the market. To make this happen, strategic collaborations and investments in research and development are likely to drive the market forward in further eleven future and advance the quality of stroke care on a global scale.
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