The Global Intracranial Aneurysm Market is estimated to reach over USD 2.26 billion by 2030, exhibiting a CAGR of 8.8 % during the forecast period.
An aneurysm is a bulging or balloon-like growth in humans that usually forms where big arteries branch into smaller ones, most commonly at the base of the brain. The Global Intracranial Aneurysm Market is developing due to the rising prevalence of strokes and hemorrhages, as well as the increasing occurrences of hypertension and arterial wall abnormalities among individuals. Because of the lower risk and consequences, minimally invasive operations are becoming more popular among patients. More delicate and smaller incisions reduce post-operative pain and promote speedier recovery, resulting in widespread acceptance and a surge in R&D spending among market players. Furthermore, rising government financing for healthcare, the use of new technology in medical devices, and extending research and development activities are projected to witness profitable chances for the mark. Several key firms continually invest in R&D to bring new minimally invasive endovascular coiling tools to market. Endovascular coiling, which is used to treat cerebral aneurysms, is one of the less invasive procedures that doctors frequently recommend. Also, because the ageing population is more sensitive to high blood pressure, the market is expected to rise. However, the market for intracranial stents is being hampered by tight regulatory regulations and the high cost of these stents.
The Intracranial Aneurysm market is segmented based on type and end-users. Based on end-users, the market is segmented as hospitals, clinics, and others. By type, the market is categorized into Surgical Clipping, Endovascular Coiling, and Flow Diverters.
Based on end-users, the hospital segment is accounted as a major contributor in the Intracranial Aneurysm market.
The hospital category is expected to hold a major share in the global Intracranial Aneurysm market in 2021. In the intracranial stents market, hospitals and ambulatory surgery centers (ASCs) are the primary end-users. This can be linked to the usage of technologically sophisticated equipment in operating rooms and intensive care units, the growing number of hospitals around the world, and rising government support for hospitals during the historical period. In hospitals, technologically advanced devices are often employed to give better care. These devices not only provide better, faster, and more accurate results but also help simplify treatment procedures.
Endovascular Coiling segment witnessed growth at a rapid rate.
The Endovascular Coiling segment is projected to grow at a rapid rate in the global Intracranial Aneurysm market. This minimally invasive procedure involves utilizing a catheter to cure a brain aneurysm by blocking blood from entering arteries. The advantages of this operation include simple access to the vertebrobasilar system and many aneurysms in remote places, as well as a shorter recovery time than other surgeries, resulting in the segment growing faster. Furthermore, the rising number of strokes around the world would have a higher possibility of rupturing blood vessels and resulting in an intracranial aneurysm, boosting market revenue growth.
The North America Intracranial Aneurysm market holds a significant revenue share in the region.
The North America Intracranial Aneurysm market is expected to register the highest market share in terms of revenue soon due to its presence of well-established healthcare facilities, a high incidence of hypertension and stroke, and an increase in the frequency of cerebral aneurysm in the region, North America dominates the cerebral aneurysm treatment market. Because of improvements in diagnosis quality, increased incidence of hypertension, increased patient affordability, and the region's vast population, Asia-Pacific is predicted to expand the most throughout the forecast period of 2021 to 2030.
Major key players in the Intracranial Aneurysm market are Medtronic, Micropart Scientific Corporation, B. Braun, Stryker, Johnson, and Johnson Services Inc., Micronation Inc. (Terumo Corporation) and Codman Neuro (Integra Lifescience)