New York, US, July 14, 2021 (GLOBE NEWSWIRE) -- Cerebral Vascular Stent Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Cerebral Vascular Stent Market Information by Product, End User, and Region - Forecast till 2025”, the market is anticipated to grow at a CAGR of 9% from 2021-2027.
Market Scope:
The market scope in the report presents a detailed framework of the cerebral vascular stent market, outlining all the main segments, names of the renowned contenders, along with the presumed growth rate during the review period.
Top Growth Inducers:
The World Stroke Organization confirms that around 15 million new stroke cases are recorded every year. Despite the United States being a developed country with a well-developed healthcare industry, the disease burden is as prevalent as six in every ten individuals. With the dramatic surge in the cases and the growing hospital admissions, the need for effective cerebral vascular stents has been rising as well. Surge in technical advances in stenting technologies, expanding geriatric pool and the escalating preference for minimally or non-invasive surgeries are also responsible for the burgeoning cerebral vascular stent market size.
Aging results in vascular functional and morphological changes within the brain, raising the vulnerability to cerebrovascular disorders. Mayo Clinic confirms aging as the most notable non-modifiable risk factor with respect to stroke, with the risk doubling every decade post the age of 55. Close to three-quarters and more of all strokes takes place among those over 65 of age. As a result, with the rising frequency of strokes in line with burgeoning elderly population across the globe, the demand for cerebral vascular stents is projected to skyrocket in the years ahead.
The cerebral vascular stent market has an intense competitive landscape, with many companies striving to get ahead of their counterparts and boost profit margins. With many of the companies actively looking for growth measures to capture a higher share, it is anticipated that the global market could observe smooth progress throughout the review period.
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Competitive Landscape:
The top industry participants profiled in the report include
- Stryker Corporation (US)
- Boston Scientific Corporation (US)
- Johnson & Johnson Services, Inc. (US)
- Cook Medical (US)
- Penumbra, Inc. (US)
- Terumo Corporation (Japan)
- Medtronic plc (Ireland)
- Acandis GmbH (Germany)
- Phenox GmbH (Germany)
- MicroPort Scientific Corporation (China)
These firms are working on widening their regional presence while introducing newer, more innovations products via different strategies such as product launches, partnerships, and collaborations.
Market Restraints:
Some of the post-operative risks or complications like internal bleeding & stroke, artery puncture, and more can act as key growth restraints for the global market in the years to come.
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COVID-19 Analysis
The COVID-19 outbreak resulted in a host of negative implications for the healthcare sector, with several manufacturing facilities shutting down and product demand falling worldwide. With the main focus of healthcare on finding a vaccine for SARS-CoV-2, other areas had to take the backseat.
However, as operations worldwide are resuming again and government lockdowns being lifted up across a few countries, the global market could gain some respite over the analysis period.
Market Segmentation
The market for cerebral vascular stent has been considered for type and end user.
The major types of cerebral vascular stent in the market are stainless steel, nitinol, and tantalum. The leading position belongs to the nitinol segment with the biggest share in the global industry, given this type’s impressive characteristics and extensive applications in healthcare. Nitinol types of cerebral vascular stents are highly flexible, have a better tissue growth rate in comparison with other stent types.
With respect to end user, the cerebral vascular stent industry has been divided into ambulatory surgical centers, and hospitals. The hospitals segment could secure the top spot in the market owing to the mounting number of hospitals that specialize in angioplasty procedures along with the expanding pool of highly skilled medical professionals.
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Regional Analysis
Surging cases of cerebrovascular disease combined with the rising R&D spending have landed the North American market at the leading position. The Brain Aneurysm Foundation says that in 2019, close to 7.5 million Americans suffered from unruptured brain aneurysm. Also, every year, around 40,000 individuals in the United States are affected by brain aneurysm rupture. High demand for minimally invasive procedures in Canada and the US can be another key growth rendering factor in the regional market. Sizeable investments that go into healthcare researches, favourable government policies, successful treatments and early diagnosis rate are a few other factors that encourage cerebral vascular stent growth in the region.
The APAC market could observe the fastest growth throughout the analysis period, thanks to the rising burden of the cerebral vascular disease combined with the rapidly burgeoning elderly population. Other key contributing factors could be the surging consumption of the latest technologies by healthcare and the cheaper costs of manufacturing medical devices in India and other countries.
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