Intracranial Aneurysm Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Intracranial Aneurysm Market Analysis
The intracranial aneurysm market is expected to register a CAGR of 4.5% during the forecast period.
The COVID-19 pandemic severely impacted the market for intracranial aneurysms by directly affecting demand and production, disrupting the supply chain, and increasing the financial burden on firms. Brain surgeries were postponed or even canceled during this timeframe to reduce the spread of the virus. In worst-affected nations, such as the United States, Russia, India, Brazil, France, the United Kingdom, Italy, and Spain, neurosurgical operations fell by 55%. However, according to a study published in January of the base year titled "COVID-19 and Hospital: A review," up to 36% of hospitalized COVID-19 patients experienced neurological symptoms, and there were several ischemic and hemorrhagic infarctions. These findings suggested COVID-19 may enhance sales in the neurology industry. Thus, these factors created lucrative opportunities for the market to grow shortly, providing profitable opportunities for key players post-COVID-19.
The increasing number of patients suffering from high blood pressure and trauma to blood vessels is another factor driving the market for intracranial aneurysms. Hypertension significantly increases the risk of a brain aneurysm and other diseases. A large percentage of the population is at risk of developing brain aneurysms due to high blood pressure and smoking. As per the WHO updates from the base year, an estimated 1.28 billion adults aged 30-79 years worldwide have hypertension, with most (two-thirds) living in low- and middle-income countries. It is estimated that this trend will continue to rise even in the forecast period and lead to intracranial aneurysms. Thus, the market is expected to experience substantial growth in the future. In addition, the global population is aging at an accelerating pace.
Moreover, according to a study published in October of the base year titled "Unruptured Cerebral Aneurysms in Elderly Patients: Key Challenges and Management," the prevalence of unruptured brain aneurysms in elderly patients was rapidly increasing in patients aged 70 years or older. According to the World Population Prospects, this year, the share of the global population aged 65 years or above is projected to rise from 10% to 16% in 2050. By 2050, the number of people aged 65 years or over worldwide is projected to be more than twice the number of children under age five and about the same as that of children under age 12. Therefore, with the increase in the elderly population, intracranial aneurysms are expected to increase. The market is expected to show better growth over the forecast period.
The increasing launches by manufacturers to meet the growing demand for innovative products are expected to drive the market's growth. For instance, in June this year, India Medtronic launched Conformité Européenne (CE) marked fourth-generation flow diverter, Pipeline Vantage with Shield Technology, for endovascular treatment of brain aneurysms. Moreover, in February 2022, Viz.ai software received United States Food and Drug Administration clearance for automatically spotting brain aneurysms. Such factors potentially drive the demand to adopt intracranial aneurysm treatments worldwide.
However, the high cost of treatment is expected to hamper the growth of the intracranial aneurysm market.
Intracranial Aneurysm Market Trends
This section covers the major market trends shaping the Intracranial Aneurysm Market according to our research experts:
Endovascular Coiling Segment is Expected to Hold a Significant Share in the Intracranial Aneurysm Market
Endovascular coiling is estimated to witness healthy growth in the future. It is a minimally invasive technique wherein a catheter is used to treat the brain aneurysm by preventing blood from getting into arteries. Benefits associated with this procedure, such as easy access to the vertebrobasilar system, multiple aneurysms in distant areas, and shorter recovery time compared to other procedures, propelling the segment's growth.
In addition, the growing number of strokes worldwide has a high chance of rupturing blood vessels and leading to intracranial aneurysms, thus promoting revenue growth in the market.
For instance, according to data published by World Stroke Organization (WSO) in 2022, About 12 million (12,224,551) people experienced a stroke. The organization stated that there are more than 12.2 million new strokes each year, and globally, one in four people after 25 years of age experiences a stroke in their lifetime. Hence, the increasing burden of patients with stroke globally is expected to drive the market's growth.
Moreover, increasing product launches by key players are expected to boost the market. For instance, in June 2022, Rapid Medical announced the expansion of its portfolio in the United States and the first Numen coil embolization procedure. Rapid Medical has an exclusive distribution agreement with MicroPort NeuroTech, a subsidiary of MicroPort Scientific Corporation. Thus, product launches are expected to boost the market segment's growth over the forecast period.
Thus, all factors mentioned above are expected to boost the segment over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the intracranial aneurysm market due to the increasing aging population, increasing prevalence of intracranial aneurysms, rising demand for minimally invasive procedures, and incidences of hypertension and stroke.
Stroke is a condition where treatment must be given as early as possible after the onset of symptoms. Hence, the availability of quick treatment is a key factor responsible for the high survival rate in the United States. According to the statistics published by the CDC in April 2022, more than 795,000 Americans have strokes. Of this, 610,000 are found to be new cases each year. Statistics revealed stroke is one of the causes of death in the United States; every 40 seconds, people from the United States have a stroke. The increasing number of patients suffering from stroke is expected to increase the demand for its treatment, driving the market for intracranial aneurysms.
North America is expected to observe the same dominance during the forecast period due to the development of innovative therapies, major industry players' local presence, and new therapies' entry. In September 2022, Vesalio announced the Food and Drug Administration's approval of the NeVa VS to treat cerebral vasospasm after aneurysmal rupture.
Thus, all factors above are expected to boost the market over the forecast period.
Intracranial Aneurysm Industry Overview
The intracranial aneurysm market is moderately competitive and consists of several major players. Some companies currently dominating the market are Stryker, B. Braun Melsungen AG, MicroPort Scientific Corporation, Medtronic, Terumo Corporation, Integra LifeSciences Corporation, Johnson & Johnson, and RAUMEDIC AG.
Intracranial Aneurysm Market Leaders
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Stryker
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B. Braun Melsungen AG
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Medtronic
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Terumo Corporation
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MicroPort Scientific Corporation
*Disclaimer: Major Players sorted in no particular order
Intracranial Aneurysm Market News
In September 2022, Siemens Healthineers' CorPath GRX Neurovascular System completed 94% of its robotic-assisted endovascular procedures without the surgeon switching to a manual approach during the operation.
In June 2022, India Medtronic launched Conformité Européenne (CE) marked fourth-generation flow diverter, Pipeline Vantage with Shield Technology, for endovascular treatment of brain aneurysms.
Intracranial Aneurysm Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Demand of Minimally Invasive Procedures
- 4.2.2 Rising Prevalence of Brain Aneurysm
- 4.2.3 Technological Advancements
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4.3 Market Restraints
- 4.3.1 High Cost of Treatment
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Type
- 5.1.1 Endovascular Coiling
- 5.1.2 Surgical Clipping
- 5.1.3 Flow Diverters
- 5.1.4 Other Types
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5.2 By End-user
- 5.2.1 Hospitals
- 5.2.2 Ambulatory Surgical Centers
- 5.2.3 Other End-users
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5.3 By Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Stryker
- 6.1.2 B. Braun Melsungen AG
- 6.1.3 MicroPort Scientific Corporation
- 6.1.4 Medtronic
- 6.1.5 Terumo Corporation
- 6.1.6 Integra LifeSciences Corporation
- 6.1.7 Johnson & Johnson
- 6.1.8 RAUMEDIC AG
- 6.1.9 Microvention Inc.
- 6.1.10 Codman Neuro (Integra Lifesciences)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityIntracranial Aneurysm Industry Segmentation
As per the scope, an intracranial aneurysm, also known as cerebral or brain aneurysm, is a bulging, weakened area in the wall of an artery in the brain, resulting in abnormal widening and ballooning. The intracranial aneurysm market is segmented by type (endovascular coiling, surgical clipping, flow diverters), end-user (hospitals, ambulatory surgical centers, and other end-users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (USD million) for the above segments.
| By Type | Endovascular Coiling | |
| Surgical Clipping | ||
| Flow Diverters | ||
| Other Types | ||
| By End-user | Hospitals | |
| Ambulatory Surgical Centers | ||
| Other End-users | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Intracranial Aneurysm Market Research FAQs
What is the current Intracranial Aneurysm Market size?
The Intracranial Aneurysm Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Intracranial Aneurysm Market?
Stryker, B. Braun Melsungen AG, Medtronic, Terumo Corporation and MicroPort Scientific Corporation are the major companies operating in the Intracranial Aneurysm Market.
Which is the fastest growing region in Intracranial Aneurysm Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Intracranial Aneurysm Market?
In 2024, the North America accounts for the largest market share in Intracranial Aneurysm Market.
What years does this Intracranial Aneurysm Market cover?
The report covers the Intracranial Aneurysm Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Intracranial Aneurysm Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Intracranial Aneurysm Industry Report
Statistics for the 2024 Intracranial Aneurysm market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Intracranial Aneurysm analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
