Global Intracranial Aneurysm Market by Type (Surgical Clipping, Endovascular Coiling, Flow Diverters), by End Use (Clinics, Hospitals) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global intracranial aneurysm markets were valued at USD 1.06 Billion in 2020. This market is expected to grow at an 8.9% compound annual growth rate (CAGR), between 2021 and 2028. In the next few years, the market will be driven by the increasing number of patients with cerebrovascular disorders and the growing adoption of minimally invasive intracranial angioplasty procedures. Intracranial aneurysm refers to a bulging of the brain's artery wall. This causes an abnormal ballooning, swelling, or bleb. It occurs most commonly in the artery in the brain's front, which supplies oxygen-rich blood for the tissues. Smoking, hypertension, trauma/injury to blood vessels and genetic predisposition are all factors that can lead to a brain aneurysm. Treatments for brain aneurysms include medical therapy, surgical clipping, endovascular therapy, and coiling with or without adjunctive devices.

Another factor driving the market is the increasing number of patients with high blood pressure and traumatized blood vessels. Hypertension increases the likelihood of developing a brain aneurysm or other diseases. High blood pressure and smoking are two of the leading causes of brain aneurysms in the world today. According to WHO facts 2019, approximately 1.13 billion people have hypertension. The global population is also aging rapidly. The NCBI research shows that the rate of unruptured cerebral aneurysms among elderly patients is increasing rapidly, particularly in patients over 70. According to the WHO 2018 report, the global population for the 60-plus age group is expected to rise to 2 billion in 2050, up from 900 million in 2015. This is why a large number of geriatric patients will be a key factor in the market's growth over the forecast period.

Minimally invasive surgery is becoming more popular due to the lower risk and trauma. These procedures are more popular because they require fewer incisions, which reduces postoperative pain and speeds up recovery. This has triggered a lot of R&D. Many key players continue to invest in R&D for innovative, minimally invasive endovascular coiling instruments. Endovascular coiling is a minimally invasive procedure that is highly recommended by doctors. It is used to treat intracranial aneurysms. A microcatheter is used to insert the catheter into the groin through the aneurysm-containing artery. The platinum coils are then released. This coil promotes the clotting and prevents blood from getting into other areas of the brain. These advantages will drive market growth and increase demand for minimally invasive procedures.

In recent years, countries such as Canada and the U.S. have seen a high rate of intracranial aneurysms. Neuro Intervention India published a 2017 report that estimated 6.0 million Americans have an unruptured intracranial eurysm. According to Neuro Intervention India, approximately 30,000 Americans die each year from ruptured intracranial aneurysms. According to the Brain Aneurysm Foundation in Canada, between 2,800 and 3,500 people are affected by a ruptured cerebral aneurysm each year. Market growth is expected to be boosted by intracranial aneurysms that are common in these countries during the forecast period.

In addition, intracranial aneurysms are on the rise in both developed and developing nations. This has prompted the development of new products. Some of the most popular treatment options for intracranial aneurysms include flow diverters, surgical clipping, endovascular coiling and surgical clipping. Market players are constantly trying to bring technologically advanced products to the market. Stryker, for example, received FDA premarket approval in May 2019 for the Neuroform Atlas Stent System to treat intracranial aneurysms. This is the second aneurysm-additional stent approved by PMA for wide-neck brain aneurysms. It can be used in conjunction with embolic detachable wires. These developments are expected to drive market growth during the forecast period.

Type Insights

The market for intracranial aneurisms can be divided by type into flow diverters, surgical clipping, and endovascular coiling. With a market share of 85.25%, the endovascular coiling segment was the dominant player in 2020. This minimally invasive procedure uses a catheter to locate an intracranial artery. Endovascular coiling has many advantages, including easy access to the vertebrobasilar and multiple aneurysms distantly located. It also requires a shorter recovery time than endovascular coiling. The segment will benefit from the endovascular coiling method.

From 2021 to 2028, the segment of flow diverters is expected to grow at a 12.3% CAGR. This segment is driven by an increase in product approvals and a demand for minimally invasive procedures. Stryker, the U.S.'s first 64-wire chromium flow diverter, launched the Surpass Evolve and Flow Diverters in August 2020. It's designed to redirect blood flow and promote the healing of aneurysms. Balt was also approved by the CE Mark in July 2018 for Silk Vista flow diverting devices for unruptured brain aneurysms. This approval is expected to increase the growth of this segment over the next few years.

End-use Insights

The market can be divided into clinics, hospitals, and other end uses based on its end use. With a market share of 88.95%, the hospital segment was the dominant segment in 2020. It is expected to grow at the highest CAGR between 2021 and 2028. This can be attributed to the increased use of technology in intensive care units and operation theatres, as well as the rising funding from the government for hospitals. Hospitals are increasingly using technologically advanced devices to offer better treatment. These devices not only make it easier to treat patients but also help provide faster and more accurate results.

Additionally, intracranial and complex surgeries such as intracranial aneurysms require durable and high-quality equipment in hospitals. In addition to being better equipped to deal with any complications that may arise after surgery, hospitals also offer facilities for rehabilitation. These factors have a significant impact on segment growth.

Regional Insights

North America was the dominant market, with 27.17% of the total market in 2020. This is due to its well-established healthcare systems, growing aging population, high rates of stroke and hypertension, as well as the strong presence of hospitals. The market is also growing due to an increase in intracranial aneurysms, and an increase in demand for minimally invasive procedures.

Asia Pacific is projected to grow at a 12.8% CAGR between 2021 and 2028. This can be attributed to factors like the increasing aging population, lifestyle stress and rising incidence of hypertension. It also has a large population, improved diagnosis quality, and increased patient affordability. These factors together have led to a large number of intracranial angioplasty procedures in Asia Pacific. The region's growth will also be aided by lucrative growth opportunities in emerging countries like India, China, and Japan.

Market Share Insights & Key Companies

The market is focusing on innovative medical devices, growth strategies and technological advances. Medtronic was granted FDA approval in 2019 for its Pipeline Flex Embolization Device, which is used to treat large or wide-necked intracranial aeurysms. These innovations are expected to increase the market growth for cerebral aneurysms over the forecast period.

Market players also focus on marketing strategies and expanding their product portfolio. This will increase awareness of intracranial Aneurysm and make it more accessible to more people. Johnson and Johnson, for example, completed the divestiture in October 2017 of its Codman Neurosurgery segment to Integra LifeSciences Holding Corporation. Johnson and Johnson now focus on their new business unit CERENOVUS, which was launched in June 2017. It is involved in the development of devices for treating stroke and cerebral aneurysm. The following are some of the major players in the global intracranial angioplasty market:

• Medtronic

• Microport Scientific Corporation

• B. Braun

• Stryker

• Johnson and Johnson Services Inc.

• MicroVention Inc. (Terumo Corporation)

• Codman Neuro (Integra Lifesciences)

Up Market Research published a new report titled “Intracranial Aneurysm Market research report which is segmented by Type (Surgical Clipping, Endovascular Coiling, Flow Diverters), by End Use (Clinics, Hospitals), By Players/Companies MicroVention Inc (Terumo Corporation), Stryker, B Braun, Codman Neuro (Integra Lifesciences), Microport Scientific Corporation, Johnson and Johnson Services Inc, Medtronic”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Intracranial Aneurysm Market Report Segments:

The market is segmented by Type (Surgical Clipping, Endovascular Coiling, Flow Diverters), by End Use (Clinics, Hospitals).

Intracranial Aneurysm Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Intracranial Aneurysm Market

Overview of the regional outlook of the Intracranial Aneurysm Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Intracranial Aneurysm Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Intracranial Aneurysm Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Surgical Clipping

                2. Endovascular Coiling

                3. Flow Diverters

                1. Clinics

                2. Hospitals

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Intracranial Aneurysm Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Intracranial Aneurysm Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.