The global intracranial aneurysm market is expected to grow at a promising CAGR of 8.8% between 2022 and 2032. The market is expected to reach USD 2.56 billion by 2032, after reaching USD 1.2 billion in 2022.
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.
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The new advanced technology integrating with intracranial aneurysm treatment and solutions is attributed to the expanding intracranial aneurysm market size. End-user patients and treatment centres are adopting intracranial aneurysm treatment and solution methods as the risk of walls bursting rises.
The intracranial aneurysm market is gaining traction as a result of recent technological advancements, an increase in the number of cases of brain aneurysm and its complications, and the introduction of minimally invasive procedures.
Key Takeaways:
- 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.
- 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, attributed to application of technologically advanced tools in operation theaters and intensive care units along with increased number of healthcare units.
- 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 the rising cases of brain aneurysms.
- 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 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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