Global Carotid Artery Stenosis Market: Overview
Carotid stenosis, also known as carotid artery disease, is characterized by the narrowing of the carotid arteries, the primary blood vessels that carry oxygenated blood to the brain. The narrowing is caused by plaque or fatty deposits along the inner wall of the artery, resulting in reduced blood flow to the brain. Over time, plaque deposits inside the inner wall of the artery can form a large mass that narrows the lumen, the inside diameter of the artery, and cause a complete blockage of the artery. Atherosclerotic plaque in the cervical carotid artery is the most common cause of carotid stenosis. Stenosis can worsen over time to completely block the carotid artery which could lead to stroke, a medical emergency that occurs when the blood supply to the brain is interrupted or seriously reduced.
Global Carotid Artery Stenosis Market: Key Trends
High prevalence of carotid artery stenosis among the geriatric population, increase in prevalence of diabetes, and surge in tobacco consumption are projected to drive the global carotid artery stenosis market during the forecast period. According to the WHO, stroke accounts for 17 million deaths across the globe each year. Over 500,000 new cases of stroke are reported in the U.S. each year, and carotid stenosis is estimated to cause 20% to 30% of these. Hence, demand for early diagnosis and treatment to prevent deaths from stroke is high. However, high cost of treatment and strict government regulations required for the approval of new and advanced technological devices and drugs are anticipated to restrain the market in the near future. Increase in patient awareness about early detection, prevention, and treatment of heart attacks and stroke are also expected to boost the global carotid artery stenosis market.
Global Carotid Artery Stenosis Market: Segmentation
The global carotid artery stenosis market can be segmented based on product, application, and region. In terms of product, the global market can be categorized into diagnostics, medical devices, and therapeutic products. The diagnostics segment accounted for significant market share in 2017. The segment is projected to dominate the market during the forecast period owing to rise in awareness leading to increase in preference for CT and MRI scans for identification of the disease. The diagnostics segment can be divided into magnetic resonance imaging (MRI), computed tomography scan (CT scan), cerebral angiography, electrocardiography, carotid ultrasound, echocardiography, and others. The therapeutic products segment can be classified into tissue plasminogen activator, anticoagulant, antiplatelet, antihypertensive, and others. Medical devices such as stents are used to open clogged arteries to restore blood flow to the brain. Carotid artery stenting has proven to be a safe and effective treatment to reduce the risk of stroke. In terms of application, the global carotid artery stenosis market can be bifurcated into internal and external.
Global Carotid Artery Stenosis Market: Regional Analysis
Based on region, the global carotid artery stenosis market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe accounted for dominant shares of the global market in 2017, followed by Asia Pacific, Latin America, and Middle East & Africa. The U.S. dominated the carotid artery stenosis market in North America in 2017, due to technological advancements, extensive R&D, and rise in awareness about the treatment and management of chronic diseases. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Launch of new products, favorable regulations, high number of stroke patients, and rise in awareness are likely to drive the market in the region during the forecast period.
Global Carotid Artery Stenosis Market: Competitive Landscape
Key players operating in the global carotid artery stenosis market are AstraZeneca plc, Bristol-Myers Squibb Co, advanceCor GmbH, Pfizer, Inc., Merck & Co, Inc., Medtronic plc, GE Healthcare, Eli Lilly and Company, Teleflex, Inc., Cardinal Health, Daiichi Sankyo Co. Ltd., Abbott Laboratories, and Siemens Healthcare, among others.
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