The global intracranial aneurysm market is set to flourish in the global market at a promising CAGR of 8.8% between 2022 and 2032. The market is anticipated to reach USD 2.56 Billion by 2032, while it holds a market value of USD 1.2 Billion in 2022.
Latest technological developments, increasing cases of brain aneurysms & their complications along with the introduction of minimally invasive procedures are gaining traction in the intracranial aneurysm market.
A global study on the intracranial aneurysm market explains that the growing cases of intracranial aneurysms in the brain involve the bulging in the wall of an artery in the brain. It causes swelling, ballooning, and widening. Aneurysms weaken the walls and make it hard for the nerves to function properly.
Intracranial aneurysms and their rising cases are attributed to the growing number of geriatric patients, fueling intracranial aneurysm treatment and solutions. The weak walls are usually thin and make no difference in the support provided by these layers, fueling the demand for intracranial aneurysm solutions and treatment.
The expanding intracranial aneurysm market size is attributed to the new advanced technology integrated with intracranial aneurysm treatment and solutions. As the risk of walls bursting increases, end-user patients, and treatment centers adopt the intracranial aneurysm treatment and solution methods.
The treatment of brain aneurysms includes medical therapy, surgical clipping or endovascular therapy, or coiling without or with adjunctive devices, fueling the demand for intracranial aneurysm treatment solutions.
| Attributes | Value |
|---|---|
| Intracranial Aneurysm Market Size (2022) | USD 1.2 Billion |
| Intracranial Aneurysm Market Projected Size (2032) | USD 2.56 Billion |
| Intracranial Aneurysm Market Value CAGR (2022 to 2032) | 8.8% |
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Rising high-blood pressure patients through trauma and blood vessels along with hypertension leading to the cases of an intracranial brain aneurysm are fueling the demand for intracranial aneurysm treatment and solutions.
According to the intracranial aneurysm market survey, the market is dynamic in nature and functions in every component. Currently, a large number of people are at risk of a brain aneurysm. The elderly class is more affected and exposed to the condition and seeks instant treatment solutions.
From medication to consultancy, the government is focusing more and more on intracranial aneurysm treatment as it grows among the population. Minimally invasive surgeries are also helping patients in getting relief, fueling the demand for intracranial aneurysm treatment solutions.
New technology and innovative techniques like endovascular coiling are being used for the treatment of intracranial aneurysms that are a part of minimally invasive procedures, widely recommended by physicians. In this procedure, a microcatheter is inserted in the groin area through the artery consisting of an aneurysm.
That checks upon the condition of the aneurysm and prevents the blood from entering other parts of the brain. This fuels the sales of intracranial aneurysm treatment solutions.
The spread of covid-19, high health risk chances during surgeries coupled with the high cost associated with treatment solutions are hindering the growth of the intracranial aneurysm market. As the covid-19 has stretched its roots and damaged the supply chains of multiple markets, especially with the government putting bans and logistics restrictions, capital generation went low while the expense got high with time, damaging multiple market spaces.
The intracranial aneurysm market was also got adversely affected by the curse of the pandemic as the healthcare centers were filled with the covid-19 patients, and research and development centers were inactive, especially those that research minimally invasive surgeries and their effects.
Another factor that hampered the growth of the intracranial aneurysm market is the risk associated with surgeries along with alternative medicine options that end user or patient considers less risky.
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According to the intracranial aneurysm market analysis, the type category has three major segments, Surgical Clipping, Endovascular Coiling, and Flow Diverters. The endovascular coiling segment dominates the market while holding a market share of 85.3% of the global share.
The minimally invasive techniques go through the catheter to locate the aneurysm in the brain. Growing hypertension among the geriatric population leads people to a higher chance of brain aneurysms and other diseases, ultimately gaining traction for the intracranial aneurysm market. The neurology industry and the Intracranial Aneurysm solutions market grow side by side, thriving the demand for Intracranial aneurysms.
According to the intracranial aneurysm market research report, the end user category is dominated by the hospital segment, holding 89.5% of the global market. The segment grows at a promising CAGR of 8.9% through the forecast period.
The factors that attribute to the growth of the intracranial aneurysm market in this segment are the application of technologically advanced tools in operation theaters and intensive care units, the rising number of hospitals globally, and increased government funding to the hospitals. This fuels the sales of intracranial aneurysm treatment solutions.
North America holds 27% of the global share in the global intracranial aneurysm market in 2022.
The growing intracranial aneurysm market in the North American region is attributed to the growing healthcare facilities, government investments, and rising cases of brain aneurysms. Furthermore, the relevant cases of hypertension and intracranial aneurysms have increased the overall demand for intracranial aneurysm treatment solutions in new regions of North America.
Also, an increasing number of initiatives being undertaken by various organizations is expected to fuel market growth. The new research and development centers are focusing on new treatment approaches, such as the endovascular process.
Asia Pacific region is anticipated to thrive at the highest CAGR of 12.7% through 2032. Presence of emerging economies like India and China that are investing huge capital in building their healthcare infrastructure, advancing and making it tech-enabled.
The cases of hypertension and brain aneurysms rising with the geriatric population growing in the region are fueling the growth of the market. Other factors that gain traction for the intracranial aneurysm market are an increasing number of initiatives being undertaken by various organizations that are expected to fuel market growth.
The Intracranial aneurysm market size expands the new diseases, and the markets related to their treatment and cure are proliferating. Higher government investments and businesses are taking an interest in the specific healthcare support centers, along with the rising healthcare sector in almost every region, which is increasing the startup activity.
The non-profitable organization is also taking part in building these health centers. For instance, The Bee Foundation (TBF), an NGO, is focusing on spreading awareness and reducing the number of deaths due to cerebral aneurysms through innovative research.
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The intracranial aneurysm market has various key competitors that focus on expanding healthcare centers with advanced technology. The key competitors understand and focus on new techniques that are aneurysm-specific and target wall healing and blood prevention.
This makes the competitive landscape more dynamic and versatile, owing to the expansion of the intracranial aneurysm market.
The key competitors flourishing in the growth of intracranial aneurysm treatment solutions are Medtronic, Microport Scientific Corporation, B. Braun, Stryker, Johnson and Johnson Services Inc., Microvention Inc., Codman Neuro (Integra Lifesciences).
Recent Developments in the Global Intracranial Aneurysm Market
The intracranial aneurysm market is expected to grow at 8.8% CAGR from 2022 to 2032.
The Intracranial aneurysm market is estimated to be around USD 1.2 Billion in 2022.
The intracranial aneurysm market is anticipated to reach a revenue of USD 2.56 Billion by 2032.
The Endovascular Coiling segment is forecasted to hold the largest market share by type category in the intracranial aneurysm market.
North American region is the most dominant region for the intracranial aneurysm market in 2022 with a market share of 27.2% of the global market.
1. Executive Summary | Intracranial Aneurysm Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. Surgical Clipping 5.2. Endovascular Coiling 5.3. Flow Diverters 5.4. Other Types 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-use 6.1. Hospitals 6.2. Clinics 6.3. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Medtronic 15.2. MicroPort Scientific Corporation 15.3. B. Braun 15.4. Stryker 15.5. Johnson and Johnson Services Inc. 15.6. Microvention Inc. 15.7. Integra LifeSciences 15.8. Sim & Cure 15.9. Oxford Endovascular 15.10. Spartan Micro, Inc. 15.11. Zylox-Tonbridge Medical Technology Co., Ltd 15.12. Mizuho Medical Co. Ltd. 15.13. Lepu Medical Technology (Beijing) Co., Ltd. 15.14. Phenox GmbH 15.15. Peter Lazic GmbH 16. Assumptions & Acronyms Used 17. Research Methodology
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Intracranial Aneurysm Market
