Neurovascular Stent Market: Introduction
- Stent is a medical device that can provide scaffolding to organ walls and vessels to keep the arteries open
- Neurovascular stent is a tube-like, flexible, and small device. Neurovascular stent is either made from polymer or metal.
- Various types of stents have been used in the field of neurovascular diseases such as aneurysms and atherosclerosis
- In 2002, Neuroform Stent (Stryker) was approved by the U.S. Food and Drug Administration (USFDA), followed by Enterprise stent (Cordis) in 2007, for use in coil embolization of wide-necked intracranial aneurysms
- The device is used to treat several conditions related to brain such as ischemic stroke and stenosis formation in the blood vessels
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Key Drivers of Global Neurovascular Stent Market
- Increase in prevalence and incidence of neurovascular diseases such as stenosis, ischemic stroke, brain aneurysm, and other illnesses related to neurovascular system primarily drives the global neurovascular stent market
- According to the Global Burden of Disease (GBD) 2016, stroke is the second leading cause for the death worldwide. An estimated 5.5 million deaths were occurred due to stroke in 2016.
- Additionally, rise in excessive alcohol consumption, unhealthy diet, less physical activity, smoking, and stress has increased the incidence of various neurovascular diseases such as cerebral aneurysms. These factors are expected to drive the neurovascular stents market during the forecast period.
Carotid Artery Stents Segment Accounted for Major Share of Global Neurovascular Stent Market
- Based on product type, the global neurovascular stent market can be divided into carotid artery stents and intracranial stents
- The carotid artery stents segment is anticipated to be the dominating segment during the forecast period
- Rise in incidence and prevalence of brain and cerebral aneurysm is projected to increase the need for carotid artery stents
- Additionally, increase in technologically advanced neurovascular stents is expected to drive the carotid artery stents segment during the forecast period
Hospital Segment to Offer Attractive Opportunities
- In terms of end-user, the global neurovascular stent market can be classified into hospitals, ambulatory surgical centers, and others
- The hospitals segment is expected to account for major share of the global neurovascular stent market by 2027
- The segment dominance can be attributed to increase in number of hospitals
- However, the ambulatory surgical centers segment is expected to grow at a higher CAGR due to increase in minimally invasive surgeries at ambulatory surgical centers
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North America to Dominate the Global Neurovascular Stent Market
- In terms of region, the global neurovascular stent market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period.
- Factors such as rise in incidence of cerebral disorders such as malformation, stenosis, and brain aneurysm are expected to drive the market in the region in the near future
- Additionally, increase in acceptance of minimally invasive procedure to treat neurovascular diseases is expected to drive the market during the forecast period
Key Players Operating in Global Market
The global neurovascular stent market is consolidated with the presence of few international players taking up the major share of the global neurovascular stent market. Key players operating in the global neurovascular stent market are:
- L. Gore & Associates
- Johnson & Johnson Services, Inc.
- Cardinal Health
- MicroPort Scientific Corporation
- Acandis Gmb
Global Neurovascular Stent Market: Research Scope
Global Neurovascular Stent Market, by Product Type
- Intracranial Stents
- Carotid Artery Stents
Global Neurovascular Stent Market, by Material
Global Neurovascular Stent Market, by End-user
- Ambulatory Surgical Centers (ASCs)
Global Neurovascular Stent Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.