Intracranial Aneurysm Market Growth & Trends
The global intracranial aneurysm market size is expected to reach USD 2.10 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.9% from 2021 to 2028. The increasing incidence rate of brain aneurysms worldwide and the growing number of patients suffering from hypertension are driving the market.
A brain aneurysm (also acknowledged as a cerebral aneurysm) is a bulge or ballooning in the blood vessel inside the brain, which usually appears in the lower area of the brain. This may leak or rupture and cause bleeding into the space around the brain leading to brain hemorrhage, stroke, or death. Currently, the cause of brain aneurysms is not clearly understood. However, several factors associated withthis disease include brain injury, aging, atherosclerosis infection, hereditary, sedentary lifestyle, and hypertension. Few prominent symptoms include cranial nerve palsy, localized headache, and double vision. Thus, the increasing number of patients suffering from an intracranial aneurysm is significantly fueling market growth.
In addition, technological advancements in the treatment of intracranial aneurysms are expediting the overall market growth. Treatment of this cerebrovascular disorder has improved due to innovative devices, such as balloons, microcatheters, microwires, and stents. Therefore, complications related to treatment have been reduced with the help of these technological advancements.
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Intracranial Aneurysm Market Report Highlights
- Based on type, the endovascular coiling segment dominated the market in 2020 with a share of 85.25% due to increasing application in minimally invasive neurosurgeries and its easy access to multiple aneurysms in the distant area
- On the basis of end use, the hospitals segment dominated the market in 2020 with a share of 88.95%. Intracranial aneurysm procedures are amongst the most complicated surgeries that are dependent on high quality and durable equipment available in hospitals
- North America dominated the market with a revenue share of 27.17% in 2020owing to the growing aging population and high incidence of hypertension and stroke in the region
- Manufacturers are focusing on the introduction of innovative medical devices, growth strategies, and technological advancements. For instance, in April 2019, Stryker launched a flow diverter for the treatment of brain aneurysm
Intracranial Aneurysm Market Segmentation
Grand View Research has segmented the global intracranial aneurysm market on the basis of type, end use, and region:
Intracranial Aneurysm Type Outlook (Revenue, USD Million, 2016 - 2028)
- Surgical Clipping
- Endovascular Coiling
- Flow Diverters
Intracranial Aneurysm End-use Outlook (Revenue, USD Million, 2016 - 2028)
Intracranial Aneurysm Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
List of Key Players of Intracranial Aneurysm Market
- Microport Scientific Corporation
- Johnson and Johnson Services Inc.
- MicroVention Inc. (Terumo Corporation)
- Codman Neuro (Integra Lifesciences)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.