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 usingintracranial stents in maintaining blood flow in the brain has considerably increased. Intracranial stent is implanted inside the brain of aperson 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.
The number of COVID-19 cases in the world is increasing at an alarming rate, driving the demand for accurate testing kits to identify the number of infected people. As per the World Health Organization (WHO), the number of cases in the US has reached around 59 lakhs in August 2020. Several countries are focusing on developing COVID-19 diagnostic testing kits and procedures to rapidly test, identify, and track coronavirus cases and containthe spread of the virus. Companies such as Roche, Bio-Rad, Thermo Fischer Scientific, CovidMD, and others have developed various technologies and services to enhance the detection of viruses. For example, CovidMD announced the launch of a new virtual video consultant platform for handling potential virus infections in May 2020. It incorporates a Salesforce Service Cloud that offers personal guidance to consumers by studying their health background and provides solutions to avoid infections. The implementation of advanced technologies in detection kits and services is enabling governments to contain the contagion to a certain extent and lessen the suffering of patients, thereby influencing market growth.
Stryker gets FDA Nod for Neuro form Atlas TM 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 Neuroform AtlasTM 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.
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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