Between 2022 and 2032, the global intracranial aneurysm market is expected to grow at an 8.8% CAGR. After reaching USD 1.2 billion in 2022, the market is expected to reach USD 2.56 billion by 2032.
According to a global study on the intracranial aneurysm market, the increasing cases of intracranial aneurysms in the brain involve the bulging of the wall of a cerebral artery. It causes swelling, ballooning, and widening of the joints. Aneurysms weaken the walls, making it difficult for the nerves to function normally.
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The expanding intracranial aneurysm market size is attributed to new advanced technology integrating with intracranial aneurysm treatment and solutions. As the risk of walls bursting increases, end-user patients and treatment centres are adopting intracranial aneurysm treatment and solution methods.
Because of recent technological advancements, an increase in the number of cases of brain aneurysm and its complications, and the introduction of minimally invasive procedures, the intracranial aneurysm market is gaining traction.
Key Takeaways:
- There are three major segments in this type category: Surgical Clipping, Endovascular Coiling, and Flow Diverters. The endovascular coiling segment dominates the market, accounting for 85.3% of the global market.
- The catheter is used to locate the aneurysm in the brain using minimally invasive techniques. Growing hypertension in the geriatric population increases the risk of brain aneurysms and other diseases.
- The hospital segment dominates the end user category, accounting for 89.5% of the global market. The segment expands at a promising CAGR of 8.9% over the forecast period, owing to the use of technologically advanced tools in operating rooms and intensive care units, as well as an increase in the number of healthcare units.
- In 2022, North America will account for 27% of the global intracranial aneurysm market. The growing intracranial aneurysm market in North America is attributed to increased healthcare facilities, government investments, and an increase in brain aneurysm cases.
- The Asia Pacific region is expected to grow at the fastest rate of 12.7% through 2032. The presence of emerging economies such as India and China, which are investing heavily in developing and modernising their healthcare infrastructure.
“The Intracranial aneurysm market analysis states that the use of new platforms like Artificial intelligence, big data, and the internet of things (IOT) are integrating with the treatment solutions. Countries such as the U.S., the U.K., and Germany have witnessed a high prevalence of intracranial aneurysms in recent years. Neuro Intervention India states that approximately 6.0 million people in the U.S. develop an unruptured intracranial aneurysm. 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” says a Future Market Insights analyst.
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Competitive Landscape
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., and Codman Neuro (Integra Lifesciences).
Recent Developments
- MicroPort Scientific Corporation has introduced new therapies for neurovascular intervention that resolve potential issues related to brain aneurysms, offering specific tools to surgeons. This fuels the sales of intracranial aneurysm treatment solutions.
- Stryker has added the neuroform atlas stent system that is further used in conjunction with metal coils that help in packing Aneurysms (week walls and blood vessel scar) in the brain. This is anticipated to help multiple surgeons across the globe.
Intracranial aneurysm Market by Segmentation
By Type Outlook:
- Surgical Clipping
- Endovascular Coiling
- Flow Diverters
By Application Outlook:
- Hospitals
- Clinics
- Others
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