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A10205 | Pages: 243 | Charts: 56 | Tables: 118 |
The global Intracranial Aneurysm Market Size was valued at $1.3 billion in 2021, and is projected to reach $2.7 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031. A cerebral or intracranial aneurysm is an abnormal focal dilation of an artery in the brain that results from a weakening of inner muscular layer (the intima) of a blood vessel wall. The vessel develops a "blister-like" dilation that can become thin and rupture without warning, which results in bleeding into the space around brain and is called a subarachnoid hemorrhage (SAH). This kind of hemorrhage can lead to a stroke, coma, and/or death. Aneurysms range in size, from small about 1/8 inch to nearly one inch. Aneurysms larger than one inch are called giant aneurysms, pose a particularly high risk, and are difficult to treat. The exact mechanism by which cerebral aneurysms develop, grow, and rupture is unknown. Berry or saccular aneurysm are the most frequently observed types of aneurysms. Almost 90% of the total aneurysm patients suffer from these types of aneurysms.
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Key factors that drive the Intracranial Aneurysm Market Growth are increase in the incidences of brain aneurysms, increase in geriatric population, increase in adoption of technologically advanced intracranial aneurysm products such as endovascular coils, surgical clipping and flow diverters. For instance, according to the report published by the Brain Aneurysm Foundation, it has been estimated that 6.5 million people in the U.S. have an unruptured brain aneurysm, i.e., 1 in 50 people. The annual rate of rupture is approximately 8 – 10 per 100,000 people and around 30,000 people in the U.S. suffer a brain aneurysm rupture each year.
Moreover, it has been reported that women are more likely than men to have a brain aneurysm (3:2 ratio) particularly those over the age of 55, have a higher risk of brain aneurysm rupture than men (about 1.5 times the risk). There are almost 500,000 deaths worldwide each year caused by brain aneurysms, and half the victims are younger than 50. The reason behind rise in prevalence of cerebrovascular disease are hypertension, cigarette smoking, and unhealthy lifestyle which leads to injury or trauma to blood vessels causing brain aneurysm. Furthermore, increase in demand of minimally invasive surgeries owing to reduced risk and trauma associated with the procedures propels the growth of the market. Numerous key players are continuously investing in R&D for the launch of innovative minimally invasive endovascular coiling instruments that are anticipated to fuel the Intracranial Aneurysm Market Size in upcoming years.
However, high cost of disease management and complications occurring during the craniotomy surgery are major barriers for growth of the market. Emerging economies such as India, China, Mexico, and Brazil are anticipated to create new opportunities during the forecast period. For instance, increasing medical tourism in India owing to relatively low cost of intracranial surgery in comparison with other developed countries such as the U.S. is expected to provide lucrative intracranial aneurysm market opportunity for the market growth.
The intracranial aneurysm market is segmented on the basis of type, end user and region. By type the market is segmented into surgical clipping, endovascular coiling, flow diverters and others. By end user it is segmented into hospitals, clinics and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Type Segment review
By type, the intracranial aneurysm market is segmented into surgical clipping, endovascular coiling, flow diverters and others. In 2021, the endovascular coiling segment accounted for the largest share of the market. The dominance of this segment is attributed to rise in number of patients suffering from cerebrovascular disease and increase in adoption of minimally invasive surgical procedures to treat aneurysm.
The flow diverters segment is anticipated to grow at a significant rate during the forecast period. Owing to latest technological developments, increasing cases of cerebrovascular disease and the surge in adoption of technologically advanced flow diverters or embolization device.
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End User Segment Review
By end user, the Intracranial Aneurysm Industry is segmented into hospitals, clinics and others. The hospitals segment exhibited the highest Intracranial Aneurysm Market Share in 2021, and is anticipated to lead during the forecast period, owing to increase in number of patients visiting the hospital for intracranial surgery and the use of technologically advanced surgical equipment in operation theaters and intensive care units for brain aneurysm.
The clinics segment is expected to witness considerable Intracranial Aneurysm Industry growth during the forecast period, owing to rise in number of people suffering from hypertension, surge in demand of minimally invasive surgical procedures and increase in number of patients visiting clinics for cerebrovascular surgery due to availability of advanced surgical devices.
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Region Segment Review
Region wise, the intracranial aneurysm market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for most of intracranial aneurysm market share in 2021 and is anticipated to remain dominant during the forecast period. Owing to high adoption rate of technologically advanced surgical devices for intracranial aneurysm, increase in the healthcare expenditure and presence of major key players in the country and the strategies they adopt for the development of intracranial devices such as endovascular coiling, surgical clipping, flow diverters and various others.
Asia-Pacific is expected to register the fastest CAGR during the forecast period. This is due to the growing demand for minimal invasive therapies, healthcare reforms, highly populated countries along with high geriatric population and high prevalence rate of hypertension.in developing countries China, India and among others
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The key players that operate in the intracranial aneurysm market are B. Braun, Delta Surgical, Evonos GmbH & Co. KG, Integra Lifescience Holding Corporation, Medtronic PLC, Microport Scientific Corporation, Mizuho Medical Incorporation, Spiegelberg, Stryker Corporation and Terumo Global (Microvention).
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