New York City, NY -- (SBWIRE) -- 07/03/2017 -- The intracranial devices market is growing at a significant rate due to the increasing prevalence of intracranial disorders, which may be caused due to various factors such as genetic disorders and accidents. Intracranial devices can be classified into various categories such as craniomaxillofacial implants, intracranial stents, and others. Endovascular treatment is widely used for the treatment of cerebral aneurysms (ruptured or unruptured).
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An intracranial stent refers to a tubular structure that is placed inside the canal, duct, or blood vessel. It is used to provide relief from obstruction. It allows continuous flow of the fluid. On the basis of design, intracranial stents can be segmented into open-cell and closed-cell. On the basis of type, intracranial stents may be classified into Neuroform, Solitaire, Enterprise, Leo Plus, and Wingspan.
Physical features, dimensions, and functional characteristics vary between different types of intracranial stents. Wingspan is widely used for the treatment of intracranial atherosclerotic diseases; whereas, Neuroform, Solitaire, Enterprise, and Leo Plus assist in coiling. Intracranial stents market is growing at a significant rate due to the increasing prevalence of intracranial disorders, which are caused by the blockage of vessels. In addition, government initiatives and growing awareness in the field are driving the market for intracranial stents. However, factors such as high treatment costs and lack of skilled professionals for performing the surgery, restrain the growth of the market.
North America dominates the global market for intracranial stents due to the presence of a large aging population and increased adoption of cranio maxillofacial implants in the region. In addition, technological advancements in the field are driving the market for intracranial stents in North America. Asia, followed by Europe, is expected to grow at a high rate in the next few years in the intracranial stents market.
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China and India are expected to be the fastest growing intracranial stents markets in Asia. Some of the key driving forces for the intracranial stents market in emerging countries are the presence of a large pool of patients and rising government initiatives in the form of funding and strict laws. In addition, increasing awareness about the availability of different types of implants is also driving the market for intracranial stents.
One of the major factors that have been driving the global intracranial stents market is increase in the prevalence of intracranial disorders and disruptions. In addition, factors such as rising awareness, technological advancements, government initiatives, and improvement in the reimbursement scenario in the field are driving the global intracranial stents market. However, factors such as the high treatment costs and lack of experienced professionals are restraining the growth of the global intracranial stents market. In addition, the lesser adoption rate of intracranial stents is further restraining the market.
Growing demographics and economies in developing countries such as India and China are expected to offer good opportunities for the global intracranial stents market. Introduction of some new products with better efficiency is also expected to create good opportunities for the global intracranial stents market. Rising number of mergers and acquisitions, new product launches, and increasing number of collaborations and partnerships are some of the latest trends that have been observed in the global intracranial stents market. Complications associated with the fixing of intracranial stents are a challenge for the market.
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Some of the major companies operating in the global intracranial stents market include Covidien Ltd, DePuy Synthes Companies, Medtonic, MicroPort Scientific Corporation, OBEX Medical Limited, and Stryker Corporation. Some of the other companies having significant presence in the global intracranial stents market include Abbott Laboratories, Admedes Schuessler GmbH, Balt Extrusion S.A., Cardiatis, S.A, and Penumbra, Inc.
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