Acumen Research and Consulting recently published report titled “Intracranial Aneurysm Market Share, Analysis Report and Region Forecast, 2022 – 2030”
LOS ANGELES, Aug. 30, 2022 (GLOBE NEWSWIRE) — LOS ANGELES, August 30, 2022 (GLOBE NEWSWIRE) – The Intracranial Aneurysm Market is expected to grow at a CAGR of around 9.3% from 2022 to 2030 and anticipated to reach the market value of around USD 2,631 Million by 2030.
Intracranial Aneurysm Market Report Key Highlights
• Global intracranial aneurysm market size was USD 1,297 million in 2021 and expected to grow at CAGR of 9.3% from 2022 to 2030
• North America intracranial aneurysm market is expected to lead with more than 38% market share
• Asia Pacific intracranial aneurysm market is expected to grow over 12% CAGR during the forecast period from 2022 to 2030
• Among types, endovascular coiling occupied more than 85% of the total market share
• According to the Neuro Intervention India report, over 6 million U.S. population developed unruptured intracranial aneurysm in 2017
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|Market||Intracranial Aneurysm Market|
|Intracranial Aneurysm Market Size 2021||USD 1,297 Million|
|Intracranial Aneurysm Market Forecast 2030||USD 2,631 Million|
|Intracranial Aneurysm Market CAGR During 2022 – 2030||9.3%|
|Intracranial Aneurysm Market Analysis Period||2018 – 2030|
|Intracranial Aneurysm Market Base Year||2021|
|Intracranial Aneurysm Market Forecast Data||2022 – 2030|
|Segments Covered||By Type, By End-use and By Geography|
|Electric Bed Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||B. Braun, Codman Neuro (Integra Life sciences), Johnson and Johnson Services Inc., Medtronic plc, Microport Scientific Corporation, MicroVention Inc. (Terumo Corporation), RAUMEDIC AG, and Stryker Corporation. BIOMODEX.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Intracranial aneurysm is a medical condition that results in dilation or ballooning of the blood vessels in the brain. According to the statistics, nearly 3% of the global population is at risk of developing intracranial aneurysm in near future. The rapid adoption of endovascular coiling in the treatment is the leading aspect fueling the intracranial aneurysm market share. Additionally, introduction to technologically advanced products and growing demand for minimally invasive surgeries are the recent intracranial aneurysm market trends that is strengthening the industry growth.
A team led by the University of Geneva (UNIGE), the University Hospitals of Geneva (HUG) and the University of Utrecht are studying the genetic determinants of aneurysms, particularly to understand the various forms of the disease and to assess individual risk. The research team will examine the genome of more than 10,000 people suffering from aneurysms compared to that of 300,000 healthy volunteers. So far they have successfully identified 17 genetic abnormalities that are notably involved in the functioning of the vascular endothelium, the inner lining of blood vessels. According to the results published in the journal Nature Genetics, scientists have discovered a potential link between these genetic markers and anti-epileptic drugs. The research shows the possibility for certain drugs in the management of the disease.
COVID-19 Impact on the Global Intracranial Aneurysm Market Revenue
The COVID-19 outbreak in 2020 has had a severe influence on the intracranial aneurysm market by directly influencing demand and production, causing a disruption in the supply chain and raising the financial burden on enterprises. Brain procedures have frequently been postponed or even cancelled during this interval in order to minimize the transmission of the coronavirus. A large number of studies were also conducted to determine the influence of coronavirus on individuals with intracranial aneurysms. The study discovered that COVID-19 patients may develop neurological problems. This led in multiple occurrences of hemorrhagic and ischemic infarction, which boosted neurology sector sales. As a result, these factors have supported and will continue to support the intracranial aneurysm sector in the coming years.
Intracranial Aneurysm Market Dynamics
Increasing prevalence of brain aneurysm is the primary factor driving the growth of the global intracranial aneurysm market revenue. Growing research & development activities is another factor boosting the intracranial aneurysm market growth. However, high cost of this treatment is expected to stymie the industry growth. Furthermore, growing cases of hypertension and rising number of stroke worldwide are some of the factors that are creating significant growth opportunities for the market in the coming years.
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Intracranial Aneurysm Market Segmentation
The intracranial aneurysm market is segmented based on type, end-use, and geography. Based on type, the market is divided into surgical clipping, endovascular coiling, flow diverters, and others. According to our intracranial aneurysm market forecast, endovascular coiling accounted for more than 85% in 2021 and is expected to continue its dominance during the projected years from 2022 to 2030. The advantages of this treatment, such as simple access to the multiple aneurysms and vertebrobasilar system in remote places, as well as a quicker recovery period when compared to other procedures, are fueling the endovascular coiling market expansion.
By end-use, market segments include hospitals & clinics, ambulatory surgical centers, and others. According to our intracranial aneurysm industry analysis, the hospitals & clinics segment is leading the global intracranial aneurysm market and the segment is also anticipated to maintain its dominance over the forecast period from 2022 to 2030. The complexity of the procedure and the risk associated with the treatment is supporting the selection of hospitals by the patients.
Intracranial Aneurysm Market Regional Outlook
North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa are the regional categorizations of the Intracranial Aneurysm market industry.
In 2021, North America held the major share (%) in terms of revenue of the global intracranial aneurysm market, and the region is also projected to maintain its dominance over the forecast period from 2022 to 2030. The presence of major players in the region including Johnson and Johnson Services Inc., Medtronic plc, and MicroVention Inc. among others is supporting the regional market value.
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Intracranial Aneurysm Market Players
Some of the leading intracranial aneurysm competitors are B. Braun, Codman Neuro (Integra Life sciences), Johnson and Johnson Services Inc., Medtronic, Microport Scientific Corporation, MicroVention Inc. (Terumo Corporation), RAUMEDIC AG, and Stryker. Intracranial aneurysm companies have announced mergers and acquisitions, partnerships and collaborations, and new product development in order to uplift their position in the global intracranial aneurysm industry. For instance, Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST) has entered into the technology transfer agreement in 2021 with the Biorad Medisys for two biomedical implants including atrial septal defect occluder and intracranial flow diverter stent.
According to the Department of Science and Technology (DST), the cost of the indigenous flow diverter stent is expected to be significantly lower than the imported ones which are currently available in the Indian market. Major players are also moving into new regions with advanced technologies for gaining a competitive advantage in the market.
Some of the key observations regarding the intracranial aneurysm companies include:
• A U.S.-based subsidiary of Terumo, MicroVention, Inc. has announced that it has got approval from the FDA for a new addition to the WEB Aneurysm Embolization System for the treatment of intracranial wide-neck bifurcation aneurysms. The premarket approval (PMA) got Woven EndoBridge (WEB) 17 systems is designed with the latest microbraid technology, features a lower profile delivery system compatible with the VIA™ 17 microcatheter, and includes additional device configurations.
• Frost & Sullivan recognized RapidAI with the Global Company of the Year Award 2020. The recognition is received for the global AI-based stroke imaging and diagnosis market segment. Rapid ICH uses Artificial intelligence (AI) to quickly triage NCCT scans to identify suspected intracranial hemorrhages (ICH).
• A new device for the treatment of intracranial aneurysms has received European CE Mark approval in 2020, announced by the medical device company Cerus Endovascular. The newly approved device is a unique, fine mesh braid that is deployed across the neck of the aneurysm sac and provides a combination of flow disruption and flow diversion through a single device implant.
Questions Answered By This Report
- What was the market size of Intracranial Aneurysm Market in 2021?
- What will be the CAGR of Intracranial Aneurysm Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Intracranial Aneurysm Market?
- Which region held the largest share in Intracranial Aneurysm Market in 2021?
- What are the key market drivers of Intracranial Aneurysm Market?
- Who is the largest end user Intracranial Aneurysm Market?
- What will be the Intracranial Aneurysm Market value in 2030?
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