The global cerebral aneurysm management market is set to experience significant growth, with an expected market value of US$ 1.56 billion in 2023. Recent market analysis forecasts that the sector will accumulate a market value of US$ 2.98 billion by 2033, registering a compound annual growth rate (CAGR) of 6.7% during the forecast period from 2023 to 2033.
This growth can be attributed to the increasing geriatric population and the expanding availability of effective medications to treat cerebral aneurysms.
Key Market Drivers:
- Rise in Geriatric Population: The aging population is a primary driver of market growth. As the incidence of cerebral aneurysms increases with age, the demand for effective management options is expected to rise significantly.
- Availability of Diverse Treatment Options: The introduction of various medications and treatment strategies for cerebral aneurysms is enhancing patient care. These advancements are crucial for managing the condition effectively and improving patient outcomes.
- Historical Growth Trends: The cerebral aneurysm management market registered a CAGR of 4% during the historical period from 2018 to 2022, indicating a consistent demand for effective treatment solutions.
Regional Insights: North America is anticipated to dominate the cerebral aneurysm management market, supported by advanced healthcare infrastructure and significant investment in research and development. Europe is also projected to maintain a substantial share, while the Asia-Pacific region is expected to witness rapid growth due to improving healthcare access and increasing awareness of cerebral aneurysm treatments.
Market Outlook: As the demand for effective cerebral aneurysm management solutions continues to rise, the market is well-positioned for steady growth over the next decade. With ongoing advancements in treatment options and a focus on enhancing patient outcomes, the cerebral aneurysm management market is set to thrive through 2033.
The improving healthcare infrastructure, increase in healthcare expenditure, and ongoing research and development efforts further boost the market. The market outlook for 2023 to 2033 is favorable, with opportunities for growth due to innovations in drugs and treatment options. Furthermore, North America and Europe are expected to be major contributors for the development of Cerebral aneurysm management market owing to the prevalence of geriatric population and technologically advanced healthcare infastructures.
Key Takeaways from the Market Study
- The Cerebral aneurysm management market is expected to grow at a value of 6.7% CAGR in the forecast period 2023 to 2033.
- By distribution channel, hospital pharmacies are expected to hold 40% of the market share in 2023 for Cerebral aneurysm management market.
- North America is expected to possess 45% market share for Cerebral aneurysm management market in 2023.
- Asia Pacific Cerebral aneurysm management market size is expected to possess 37% market share in 2023.
“Increase in technologically advanced healthcare infrastructures along with awareness of treating Cerebral aneurysm is driving the growth of the Cerebral aneurysm management market.” states an FMI analyst
What are the Challenges Faced by the Cerebral Aneurysm Management Market
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.
Market Competition
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
- Novartis AG, a key player in the cerebral aneurysm management market is emphasizing on investing in extensive research to develop medications that can alleviate the symptoms associated with cerebral aneurysm.
- Acadia Pharmaceuticals Inc, another key player in the cerebral aneurysm management market is working with healthcare professionals to develop medications to treat immediate after effects of cerebral aneurysm.
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
Key Segments Profiled in the Cerebral Aneurysm Management Market Survey
Drug Class:
- Antihypertensives
- Antiepileptics
- Analgesics
- Antiemetics
- Antacids
Route of Administration:
- Oral
- Injectable
- Transdermal
Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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