The global intracranial stents market is likely to grow in the coming years due to product advancements introduced in the last couple of years. According to a report by Fortune Business Insights, titled “Intracranial Stents Market Size, Share and Global Trend By Product (Self-Expanding Intracranial Stents, Embolization Coil Support Intracranial Stents), By Disease Indication (Brain Aneurysm, Intracranial Stenosis), By End User (Hospitals & Clinics, Ambulatory Surgery Centers, Others), and Geography Forecast till 2026,” the market derives growth from increasing regulatory approvals for related products.
The demand for using intracranial stents in maintaining blood flow in the brain has considerably increased. Intracranial stent is implanted inside the brain of a person suffering from brain aneurysms and intracranial stenosis. Intracranial stents also help in reducing chances of stroke in patients with symptomatic intracranial stenosis. According to the Brain Aneurysm Foundation, almost 6 million people in the United States are suffering from brain aneurysm. Furthermore, 30,000 people have undergone a brain rupture. Such high prevalence of brain aneurysm has led to the demand for intracranial stents. This, in turn will favor the growth of the global intracranial stents market in the forthcoming years.
Stryker gets FDA Nod for Neuroform AtlasTM Stent System
The growing prevalence of aneurysm on a global scale has created the demand for more treatment methods. On account of the high prevalence, regulatory authorities have eased off their reluctance in approving newer treatment methods and drugs.
The global intracranial stents market is likely to benefit from usage approvals. In 2017, Stryker received approval from the Food and Drug Administration for its NeuroformAtlasTM Stent System for marketing under Humanitarian Device Exemption (HDE). The device was used for treatment of wide neck intracranial aneurysms. The AtlasTM is designed to improve wall apposition and increase deployment accuracy even in the most difficult cases. The device will aid the treatment options for aneurysms and this in turn, is likely to favor the growth of the global intracranial stents market in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease.
There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
High Prevalence of Neurological Disorders is Creating High Demand
The high prevalence of neurological disorders has provoked several innovations in treatment options. According to the World Health Organization (WHO), between 1990 and 205, the number of deaths due to neurological disorders increased by 36.7%. The most commonly prevailing disorders were headache, Alzheimer’s disease and Dementias. Additionally, neurological disorders are major cause of disabilities worldwide. Such a high prevalence of neurological disorders will create a huge demand for devices for treatment of these disorders. Fortune Business Insights has predicted that the high prevalence of neurological disorders will have a positive impact on the global intracranial stents market in the coming years.
Fortune Business Insights has labelled increasing regulatory approvals as one of the leading factors that account for growth of the global intracranial stents market. Several companies have been encouraged by FDA’s recent trend of approval of related drugs and devices. Influenced by this factor companies have begun to shift their focus on the research and development of related products. Some of the leading companies that are operating in the global intracranial stents market are Acandis GmbH, Abbott, Medtronic, Stryker, MicroPort Scientific Corporation, DePuy Synthes, Boston Scientific Corporation, Penumbra, Inc. and BALT EXTRUSION.
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