Intracranial Aneurysm Market: Global Industry Analysis and Forecast (2021-2029) Trends, Statistics, Dynamics, Segment Analysis

Intracranial Aneurysm Market size was valued at USD 1.2 Bn. in 2021 and the total Intracranial Aneurysm revenue is expected to grow by 9.5 % from 2022 to 2029, reaching nearly USD 2.5 Bn.
Intracranial Aneurysm Market Overview:
A cerebral or intracranial aneurysm is a brain aneurysm caused by a weakening of the inner muscular layer (the intima) of a blood vessel wall. Intracranial aneurysms are relatively common, accounting for about 4% of all cases. Unruptured aneurysms may cause symptoms primarily as a result of a mass effect, but the real danger occurs when an aneurysm ruptures, resulting in a subarachnoid hemorrhage. Most aneurysms are asymptomatic and will not rupture, but they grow in unpredictable ways, and even small aneurysms can rupture. Imaging techniques such as intra-arterial digital subtraction angiography, computed tomography angiography, magnetic resonance angiography, and, more recently, transcranial Doppler ultrasonography are used to diagnose and monitor intracranial aneurysms. These treatments have become more popular among consumers in recent years, which helps to boost the Intracranial Aneurysm market. Moreover, observation, endovascular coiling, and surgical clipping are more options for treatment.

Recently, demand for minimally invasive procedures has been increased across the world thanks to the technological advancements. An intracranial aneurysm occurs in a cerebral artery, which aids in the delivery of oxygen-rich blood to the tissues. Cigarette smoking, hypertension, blood vessel injury, and genetic predisposition are all risk factors for cerebral disorders. With an increasing number of patients suffering from hypertension and cerebrovascular disorders, trauma and injuries are some other factors driving the Intracranial Aneurysm market growth. According to the World Health Organization (WHO), hypertension affects an estimated 1.28 billion people. These will increase the risk of the intracranial aneurysm while also promoting overall Intracranial Aneurysm market revenue growth. Furthermore, the increasing prevalence of intracranial aneurysms in both developed and developing countries is driving the market. According to the Brain Aneurysm Foundation, intracranial rupture occurs 8 to 10 times per 100,000 people in the United States. However, the high treatment cost associated with the treatment may stymie the market.

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Intracranial Aneurysm Market Dynamics:
Market Drivers

Growing mental illness to drive the Intracranial Aneurysm market

The cerebral blood vessels frequently experience aneurysms. The prevalence was reported to be 0.4% in retrospective and 3.6% in prospective autopsy studies, and 3.7% and 6.0% in retrospective and prospective angiographic studies, respectively, in a recent systematic review that gathered data from many different countries. The retrospective autopsy studies' true prevalence is probably underestimated because they were unable to review the original data, whereas the angiographic studies probably overestimate it due to selection bias. The circle of Willis is the location of 85% of saccular aneurysms of the cerebral vasculature. 30% of patients experience multiple aneurysms. The majority are minor and asymptomatic, but every year in the United States, 30,000 people experience a rupture, with a peak in the sixth decade. A parenchymal hemorrhage from an intracranial aneurysm or, more frequently, a subarachnoid hemorrhage from one that bleeds into the subarachnoid space result from the rupture of an intracranial aneurysm. A SAH is a fatality rate of 25% to 50% catastrophic event. Only about one-third of patients who experience a SAH have a successful outcome because permanent disability affects nearly 50% of survivors. These aspects are driving the growth of the Intracranial Aneurysm Market in recent years and are expected to do the same during forecast years.

Bolstering imaging modalities treatment to support Intracranial Aneurysm market

Intra-arterial digital subtraction angiography (IADSA), computed tomography angiography (CTA), and magnetic resonance angiography (MRA) are the three imaging modalities currently used extensively in the diagnosis of intracranial aneurysms. Another vascular imaging method is CTA, which involves obtaining a regular CT scan while intravenous contrast material is injected. IADSA is currently the gold standard for diagnosing intracranial aneurysms, but CTA and MRA are also capable of making a determination. In 2021, 45% of healthcare professionals treated intracranial aneurysm cases with intra-arterial digital subtraction angiography. As a result, imaging modalities that provide better images for the treatment of intracranial aneurysms are one of the factors driving the Intracranial Aneurysm Market.

Growing geriatric population to boost Intracranial Aneurysm market

The growing number of patients suffering from high blood pressure and blood vessel trauma is driving the intracranial aneurysm market. Hypertension increases the risk of a brain aneurysm and other diseases significantly. A large proportion of the population is currently at risk of developing brain aneurysms as a result of high blood pressure and smoking. According to WHO facts 2019, approximately 1.13 billion people worldwide have hypertension. Furthermore, the global population is aging at an alarming rate. According to NCBI research studies, the prevalence rate of unruptured brain aneurysms in elderly patients is rapidly increasing, particularly in patients aged 70 years or older. According to the WHO report 2021, the global population of people aged 60 and older is expected to reach 3.5 billion by 2050, up from 1 billion in 2019. As a result, such a large geriatric patient base is expected to be one of the key success factors for the growth of the intracranial aneurysm market during the forecast period.

Furthermore, minimally invasive surgeries are gaining popularity due to the lower risk and trauma associated with these procedures. Smaller incisions reduce postoperative pain and facilitate faster recovery, resulting in the widespread adoption of these procedures and a surge in R&D in this field. Numerous key players are constantly investing in R&D in order to launch innovative minimally invasive endovascular coiling instruments. Endovascular coiling is a minimally invasive procedure widely recommended by physicians for the treatment of intracranial aneurysms. In this procedure, a microcatheter is inserted through an aneurysm-containing artery in the groin. Platinum coils are then used to promote aneurysm clotting and prevent blood from entering other areas of the brain. As a result, such benefits are expected to boost demand for minimally invasive procedures, boosting the Intracranial Aneurysm market growth.

Intracranial Aneurysm Market Restraints

Unaffordable treatments for Nigeria, South Africa, and the Gulf Cooperation Council countries

Many patients in developing countries cannot afford these Intracranial Aneurysm treatments, limiting Intracranial Aneurysm market growth. Healthcare facilities in Nigeria, South Africa, and the GCC countries are extremely hesitant to invest in technologically advanced systems, which is another reason why market growth is hampered.

Intracranial Aneurysm Market Opportunity

Recent advancements in medical devices to boost Intracranial Aneurysm market

Constant research and development in this field have resulted in the adoption and implementation of various techniques for brain monitoring devices. Many new devices with enhanced features have recently been introduced to the Intracranial Aneurysm market. All brain functions can be monitored using intracranial pressure monitors and magnetoencephalography. Transcranial Doppler and cerebral oximeters will also play an important role in brain monitoring functions. There are numerous such devices on the market, and demand for these devices will continue to rise significantly over the forecast period.

Emerging economies market dynamics

Opportunities abound in emerging markets such as China, Brazil, Mexico, and India. Participants in the Intracranial Aneurysm market Medical devices are in high demand in these countries’ populations, which are growing due to rapid growth in medical tourism, a growing population, and rising disposable incomes. These countries have a large and well-educated labor force as well. They have a high potential for growth and outperform the Intracranial Aneurysm market in terms of return on investment. Furthermore, these countries have lax import/export policies and are underserved in most areas, which could benefit businesses in terms of brand development. Government subsidies and expenditures, as well as taxation These countries' relaxations, may also aid business growth.
Intracranial Aneurysm Market Segment Analysis:
Based on Type, The endovascular coiling segment dominated the intracranial aneurysm market, accounting for 88.1% of revenue in 2021. It is a minimally invasive procedure that employs a catheter to locate an aneurysm in the brain. The catheter is inserted from the groin area into the aneurysm-prone artery. Coils or liquids that induce embolization are used to prevent blood flow into the aneurysm. Endovascular coiling has several advantages over surgical clipping procedures, including easier access to the vertebrobasilar system and multiple aneurysms in the distant area, and a shorter recovery time. As a result, the advantages provided by the endovascular coiling technique are propelling the segment forward.

However, the flow diverters segment is expected to grow at the fastest rate of 12.5% during the forecast period. The segment's growth is being driven by an increase in the number of product approvals and an increase in demand for minimally invasive procedures. For example, in January 2018, Cerenovus (a division of Johnson & Johnson) introduced the Galaxy G3 mini coil, the softest and smallest embolic finishing coil. It is used to treat hemorrhagic strokes as well as intracranial aneurysms. Similarly, MicroPort Scientific Corporation received CFDA approval for its Tunbridge Flow diverter in March 2021. As a result, the increased number of product approvals and demand for minimally invasive procedures are expected to fuel segment growth in the forecast years.

Based on the Application, The hospital segment dominated the intracranial aneurysm market, accounting for 91.5% of revenue in 2021, and is expected to grow at the highest CAGR of 10.1% over the forecast period. This is due to the use of technologically advanced equipment in operating rooms and intensive care units, the growing number of hospitals around the world, and increased government funding for hospitals. In hospitals, technologically advanced devices are widely used to provide better care. These devices not only make treatment procedures easier, but they also help provide better, faster, and more accurate results.

The hospital segment dominated the intracranial aneurysm market, accounting for 92.5% of revenue in 2021, and is expected to grow at the highest CAGR of 10.1% over the forecast period. This is due to the use of technologically advanced equipment in operating rooms and intensive care units, the growing number of hospitals around the world, and increased government funding for hospitals. In hospitals, technologically advanced devices are widely used to provide better care. These devices not only make treatment procedures easier, but they also help provide better, faster, and more accurate results.
Intracranial Aneurysm Market Regional Insights:
North America dominated the intracranial aneurysm market, accounting for 30.2% of revenue in 2021. Because of the presence of well-established healthcare facilities, a growing ageing population, and a high incidence of hypertension and stroke Furthermore, an increase in the prevalence of intracranial aneurysms and an increase in the demand for minimally invasive procedures are contributing to the region's market growth. Furthermore, an increasing number of initiatives being undertaken by various organizations is expected to fuel market growth. For example, The Bee Foundation (TBF), a non-profit organization, is dedicated to raising awareness and reducing the number of deaths caused by cerebral aneurysms through innovative research. The TBF is seeking proposals for a brain aneurysm research grant, which will help the organization achieve its goal of reducing brain aneurysm mortality.

The Asia Pacific market for intracranial aneurysms is expected to grow at the fastest rate of 13.9% during the forecast period. This is due to factors such as an ageing population, various lifestyle stresses, an increase in the incidence of hypertension, a large population, an improvement in the quality of diagnosis, and increased patient affordability. All of the aforementioned factors have contributed to a significant increase in intracranial aneurysm procedures in Asia Pacific. Furthermore, lucrative growth opportunities in developing countries such as Japan, India, and China are expected to contribute to the growth of the regional intracranial aneurysm market. Increased medical tourism in India, for example, due to the relatively low cost of intracranial surgery in comparison to other developed countries such as the United States, is expected to fuel the Intracranial Aneurysm Market growth. In India, the average cost of aneurysm surgery is around USD 7,000, compared to USD 30,000 in the United States.
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Intracranial Aneurysm Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 1.2 Bn.


Forecast Period 2022 to 2029 CAGR:
9.5%
Market Size in 2029:
US $ 2.5 Bn.


 Segments Covered:
by Type
• Surgical Clipping
• Endovascular Coiling
• Flow Diverters
• Others


by End-use
• Hospitals
• Clinics
• Others



Intracranial Aneurysm Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Intracranial Aneurysm Market Key Players
• Stryker
• B. Braun Melsungen AG
• MicroPort Scientific Corporation
• Medtronic
• Terumo Corporation
• Integra LifeSciences Corporation
• Johnson & Johnson
• RAUMEDIC AG
• Microvention Inc.
• Codman Neuro (Integra Lifesciences)
• AbbVie Inc.
• Amneal Pharmaceuticals Inc.
• Boehringer Ingelheim International GmbH
• F. Hoffmann-La Roche Ltd
• Merck & Co. Inc.
• Novartis AG
• Pfizer Inc.
• Teva Pharmaceutical
• UCB SA
• Biogen Inc.
• Sanofi

Frequently Asked Questions:

1] What segments are covered in the Global Intracranial Aneurysm Market report?
Ans. The segments covered in the Intracranial Aneurysm Market report are based on Product Type and, End User.

2] Which region is expected to hold the highest share in the Global Intracranial Aneurysm Market?
Ans. The North America region is expected to hold the highest share in the Intracranial Aneurysm Market.

3] What is the market size of the Global Intracranial Aneurysm Market by 2029?
Ans. The market size of the Intracranial Aneurysm Market by 2029 is expected to reach US$ 2.5 Bn.

4] What is the forecast period for the Global Intracranial Aneurysm Market?
Ans. The forecast period for the Intracranial Aneurysm Market is 2021-2029.

5] What was the market size of the Global Intracranial Aneurysm Market in 2021?
Ans. The market size of the Intracranial Aneurysm Market in 2021 was valued at US$ 1.2 Bn.