The global cerebral aneurysm management market is expected to garner a market value of USD 1.56 Billion in 2023 and is expected to accumulate a market value of USD 2.98 Billion by registering a CAGR of 6.7% in the forecast period 2023 to 2033. Growth of the cerebral aneurysm management market can be attributed to rise in geriatric population and availability of different medications to treat the ailment. The market for cerebral aneurysm management registered a CAGR of 4% in the historical period 2018 to 2022
Cerebral aneurysm management refers to the diagnosis and treatment of cerebral aneurysms, which are weak spots in the blood vessels of the brain that can bulge or burst, leading to bleeding in the brain (also known as a subarachnoid hemorrhage). Cerebral aneurysm management typically involves a combination of medical and surgical techniques to diagnose, treat, and prevent the occurrence of aneurysms. The goals of management include reducing the risk of aneurysm rupture, preventing further bleeding if an aneurysm has ruptured, and minimizing any resulting neurological damage.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 1.56 Billion |
| Anticipated Forecast Value (2033) | USD 2.98 Billion |
| Projected Growth Rate (2023 to 2033) | 6.7% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for cerebral aneurysm management reflected a value of 4% during the historical period, 2018 to 2022.
Diagnostic techniques for cerebral aneurysms include imaging tests such as computed tomography (CT) scans, magnetic resonance imaging (MRI) scans, and angiograms. Treatment options may include minimally invasive procedures such as endovascular coiling or stenting, or open surgical procedures such as clipping.
Cerebral aneurysm management is a rapidly evolving field, with new diagnostic and therapeutic techniques being developed and refined to improve patient outcomes. Effective management of cerebral aneurysms requires close collaboration between specialists in neurosurgery, neurology, and interventional radiology.
Thus, the market for cerebral aneurysm management is expected to register a CAGR of 6.7% in the forecast period 2023 to 2033.
Availability of various treatments driving the growth of cerebral aneurysm management market
The incidence of cerebral aneurysms is increasing worldwide, which is driving demand for effective management and treatment options. The development of minimally invasive techniques and new devices for the treatment of cerebral aneurysms is driving growth in the market.
Surgical Clipping: Involves the placement of a small metal clip at the base of the aneurysm to block blood flow and prevent rupture.
Endovascular Coiling: A minimally invasive procedure where a coil is inserted into the aneurysm through a catheter to fill the sac and prevent blood flow.
Flow Diverter Stenting: A newer endovascular technique where a stent is placed across the neck of the aneurysm to redirect blood flow and shrink the aneurysm.
Observation: For smaller or stable aneurysms that do not show symptoms, regular imaging and monitoring may be recommended to track any changes.
Aging population and government initiatives increasing demand for treatment of cerebral aneurysm
The aging population is more susceptible to cerebral aneurysms, which is leading to increased demand for management and treatment options. Increased public awareness about the symptoms and consequences of cerebral aneurysms is driving demand for early diagnosis and treatment.
Governments around the world are investing in healthcare infrastructure and encouraging innovation in medical technologies, which is driving growth in the market.
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High cost along with restricted reimbursement creating obstacles for market growth
The cost of treatment for cerebral aneurysms can be high, which can be a barrier for some patients and healthcare systems. There is a shortage of skilled healthcare professionals trained in the diagnosis and treatment of cerebral aneurysms, which can limit access to care.
Reimbursement for cerebral aneurysm treatments can be limited in some countries, which can impact market growth. Strict regulatory requirements for the approval of new devices and treatments can slow market growth and limit access to innovative solutions. The cerebral aneurysm management market faces competition from alternative treatments, such as surgical clipping and endovascular coiling, which can limit market growth.
Advanced healthcare infrastructure increasing treatment options for cerebral aneurysm
North America has a high incidence of cerebral aneurysms, which is driving demand for effective management and treatment options. Moreover, it has a technologically advanced healthcare infrastructure, with access to cutting-edge treatments and technologies for the management of cerebral aneurysms.
North America is home to some of the leading companies in the cerebral aneurysm management market, which is driving innovation and growth in the market. Reimbursement policies for cerebral aneurysm treatments are favorable in North America, which is driving demand for treatments and contributing to market growth. In addition, the region has high levels of healthcare spending, which is supporting the growth of the cerebral aneurysm management market. Thus, North America is expected to possess 45% market share for cerebral aneurysm management market in 2023.
Key market players innovating treatment methods for cerebral aneurysm in Europe
The Europe cerebral aneurysm management market refers to the market for medical devices, procedures, and treatments for the diagnosis and treatment of cerebral aneurysms in the European region. This market is expected to grow due to increasing incidence of cerebral aneurysms and advancements in technology. Major players in the market include Johnson & Johnson, Stryker, Medtronic, Terumo, and others. The market growth may be hindered by factors such as high costs of treatments and a lack of awareness about the condition.
The market for cerebral aneurysm management in Europe is growing due to a combination of factors such as increasing incidence, advancements in technology, growing geriatric population, increasing healthcare spending, and increased awareness about the condition. Thus, Europe is expected to possess 37% market share for cerebral aneurysm management market in 2023.
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Favorable reimbursement policies are making hospital pharmacies a viable option for treatment
On the basis of distribution channel, cerebral aneurysm management market is categorized into Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
The hospital pharmacy segment is expected to dominate the market, driven by the availability of various treatments and diagnostic options for cerebral aneurysm. The presence of healthcare professionals as well as favorable reimbursement policies, further solidify hospital pharmacies as a preferred choice for treatment.
The growth is also encouraged by government initiatives that support the treatment of cerebral aneurysm in hospital pharmacies. The market share of hospitals for cerebral aneurysm is expected to reach 40% in 2023.
Key players in the cerebral aneurysm management market are Biogen, Pfizer Inc, Hoffmann-La Roche Ltd, Merck Sharp & Dohme Corp, Novartis AG, Sanofi, Teva Pharmaceutical Industries Ltd., Orion Corporation, UCB S.A., Acadia Pharmaceuticals Inc, Lundbeck A/S, Mitsubishi Tanabe Pharma Corporation
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 1.56 Billion |
| Market Value in 2033 | USD 2.98 Billion |
| Growth Rate | CAGR of 6.7% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Drug Class, Route of Administration, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; MEA |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Biogen; Pfizer Inc.; Hoffmann-La Roche Ltd; Merck Sharp & Dohme Corp; Novartis AG; Sanofi; Teva Pharmaceutical Industries Ltd.; Orion Corporation; UCB S.A.; Acadia Pharmaceuticals Inc.; Lundbeck A/S; Mitsubishi Tanabe Pharma Corporation |
| Customization | Available Upon Request |
The market is expected to be valued at USD 1.5 billion in 2023.
Biogen, Pfizer Inc., and Hoffmann-La Roche Ltd. are key market players.
From 2018 to 2022, the market registered a CAGR of 4.0%.
Availability of various treatments to boost the market prospects.
The market is forecast to register a CAGR of 6.7% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. Antihypertensives 5.2. Antiepileptics 5.3. Analgesics 5.4. Antiemetics 5.5. Antacids 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Route of Administration 6.1. Oral 6.2. Injectable 6.3. Transdermal 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospital Pharmacy 7.2. Retail Pharmacy 7.3. Online Pharmacy 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Biogen 18.2. Pfizer Inc. 18.3. F. Hoffmann-La Roche Ltd 18.4. Merck Sharp & Dohme Corp. 18.5. Novartis AG 18.6. Sanofi 18.7. Teva Pharmaceutical Industries Ltd. 18.8. Orion Corporation 18.9. UCB S.A. 18.10. Acadia Pharmaceuticals Inc. 18.11. H. Lundbeck A/S 19. Assumptions & Acronyms Used 20. Research Methodology
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