The market for intracranial aneurysm is expected to grow at a CAGR of around 9.2% from 2020 to 2027 and anticipated to reach the market value of around US$ 1,951.8 Mn by 2027.
An intracranial aneurysm is a cerebrovascular disorder caused due to weakness in the wall of a cerebral artery or vein and results in dilation or ballooning of the blood vessel. The other names of the disorder include cerebral aneurysm, brain aneurism, brain aneurysm, a cerebral aneurism. Additionally, the treatment includes endovascular coiling, surgical clipping, and cerebral bypass surgery. It causes Hypertension, infection, and head trauma. Moreover, the symptoms of the disorder include severe headache, visual problems, nausea and vomiting, and confusion.
The rising prevalence of brain aneurysms along with the introduction of technologically advanced products in the market is driving the market growth. The rising demand for minimally invasive procedures across the globe along with the increased spending on healthcare solutions is supporting the market growth. The rising research and development activities by major players as well as government authorities are further proliferating the market value. Furthermore, ongoing efforts for the development of cost-effective solutions and rising awareness about the treatment are projected to create potential opportunities over the forecast period from 2020 to 2027.
On the other hand, the high cost associated with the treatment is likely to hinder the growth over the forecast period from 2020 to 2027.
Segment Instance of Global Intracranial Aneurysm Market
Endovascular Coiling is leading the Intracranial Aneurysm Market
On the basis of type, the endovascular coiling segment has registered maximum share (%) in terms of revenue (US$ Mn). The increasing demand for minimally invasive techniques in the global market is supporting the segmental market value. Endovascular coiling refers to the minimally invasive technique which means a catheter is used to reach the aneurysm in the brain, instead of making an incision in the brain. Additionally, a catheter is passed through the groin up into the artery containing the aneurysm.
Hospitals & clinics segment accounted for the maximum revenue share in the Intracranial Aneurysm Market
Based on end-use, hospital & clinics is the leading segment in the global intracranial aneurysm market. The availability of technologically advanced infrastructure and trained professionals are supporting the segmental market value. The increasing number of hospitals in the global market, particularly in developing economies across the globe is majorly contributing to the segmental market value during the forecast timeframe from 2020 to 2027.
North America accounted for the maximum revenue share in the Intracranial Aneurysm Market
In 2019, North America has registered maximum revenue share in the intracranial aneurysm market and the region is also projected to maintain its dominance over the forecast timeframe from 2020 to 2027. The presence of major global players in the region is supporting the regional market value. The major economies of the region including the US and Canada are the major revenue contributors in 2019. The continuous technological advancements in the product offerings of the major players as well as the presence of a high-income population base in the regional market are boosting the regional market value.
Key Market Players
The players profiled in the report include B. Braun, Codman Neuro (Integra Lifesciences), Johnson and Johnson Services Inc., Medtronic plc, Microport Scientific Corporation, MicroVention Inc. (Terumo Corporation), RAUMEDIC AG, and Stryker Corporation. BIOMODEX, a pioneering digital health company that offers a unique and enhanced 3D printed solution for patient-specific rehearsal and physician training. The company has announced presentation of data at SFNR 2020 highlighting benefits of patient-specific rehearsals in complex unruptured intracranial aneurysms and the company's EVIAS™ (EndoVascular Intracranial Aneurysm System) solution was the focus of the ppt.
Market By Type
Market By End-use
Hospitals & Clinics
Ambulatory Surgical Centers
Market By Geography
Middle East & Africa
The market for intracranial aneurysm is expected to reach a market value of around US$ 1,951.8 Mn by 2027.
The intracranial aneurysm market is expected to grow at a CAGR of around 9.2% from 2020 to 2027.
Endovascular coiling is the leading segment by type in the intracranial aneurysm market
Asia Pacific is expected to be the fastest growing market over the forecast period.
The rising prevalence of brain aneurysm, the introduction of technologically advanced products, rising demand for minimally invasive procedures, increasing spending on healthcare solutions, and rising research and development activities by major players are some of the major factors driving the market growth.
B. Braun, Codman Neuro (Integra Lifesciences), Johnson and Johnson Services Inc., Medtronic plc, Microport Scientific Corporation, MicroVention Inc. (Terumo Corporation), RAUMEDIC AG, and Stryker Corporation are some of the prominent players in the market.
North America held the highest market share in the intracranial aneurysm market