Intracranial Aneurysm Market

Market Overview

The global intracranial aneurysm market size was valued at USD 1.92 billion in 2021. It is expected to reach USD 3.92 billion by 2030, growing at a CAGR of 10.1% during the forecast period (2022–2030). Factors such as dramatic increase in diseases and development efforts about Intracranial aneurysms, significantly drives the intracranial aneurysm market by 2030.

An intracranial aneurysm is more commonly known as a brain or cerebral aneurysm. Aneurysms are regions on the arteries in the brain that have become weakened and bulged outward due to a weak spot. If a patient has an intracranial aneurysm, the affected region will swell, become abnormally wide, and bleb. There is a good chance that the aneurysm's walls will burst because aneurysms weaken the artery walls and make them more susceptible to rupture.

Aneurysms can frequently be found within the artery that carries blood to the brain's frontal region. This is a common site for intracranial aneurysms. These arteries transport oxygen-rich blood to the rest of the body's blood tissues, where the oxygen transported by the arteries is used. Aneurysms within the brain cells can form in any favorable location for their growth. An intracranial aneurysm has three distinct layers that can be unpacked and examined individually. When there is not a layer of muscles in the artery walls, or when there is a layer of muscles in the artery walls, but it is sometimes misled, the entire burden of supporting the artery is placed on the other two layers, which causes those walls to be highly fragile and thin.

Market Dynamics

Intracranial Aneurysm Market Driving Factors

Dramatic Increase in Diseases to Favor Market Growth

Another factor driving the intracranial aneurysm market is the growing number of patients suffering from high blood pressure and blood vessel trauma. The risk of developing a brain aneurysm and other diseases is significantly increased when hypertension is present. Due to the prevalence of high blood pressure and smoking today, a sizeable portion of the general population is at an increased risk of developing brain aneurysms. The prevalence rate of unruptured brain aneurysms in elderly patients rapidly increases, particularly in patients 70 or older, driving the market's growth even further.

Expanding Research and Development Efforts about Intracranial Aneurysms to Propel Growth

As a result of an increase in the number of research and development programs focused on treating intracranial aneurysms, the market for intracranial aneurysms is anticipated to expand significantly throughout the forthcoming forecast period. The diagnosis of brain aneurysms is being actively researched by several institutes worldwide, many of which cooperate in this endeavor. The utilization and adoption of artificial intelligence will be the primary focus of the expanding assistance and collaboration, with the goal being to identify and evaluate brain aneurysms.

Intracranial Aneurysm Market Restraining Factors

Prohibitively Expensive Treatment Options and the Absence of Apparent Symptoms to Hinder Market Growth

Factors such as the high management cost of aneurysmal subarachnoid hemorrhage, difficulties in commercializing products in underdeveloped and developing economies, and symptoms that do not confirm the presence of an intracranial aneurysm are impeding the growth of the intracranial market. However, the high cost of treatment and the fact that symptoms of brain aneurysms are often overlooked are likely to slow market growth.

Intracranial Aneurysm Market Opportunities

Several Government Programs to Spur Market Opportunities

The preference for minimally invasive procedures, which coincides with the availability of medicines and devices, is a further factor contributing to the market's expansion. In addition, the growth of government spending on healthcare, the incorporation of cutting-edge technology into medical equipment, and the increase in research and development efforts are anticipated to generate lucrative opportunities for the market.

Regional Analysis

The global intracranial aneurysm market share has been segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA. 

North America is dominating the global intracranial aneurysm market during the forecast period. The population's aging trend, growing public awareness of the value of maintaining one's health, and rising consumer demand for cutting-edge healthcare and medical technology are all contributing factors to this growth. The majority of people have hypertension disease, which typically impacts their brains due to the amount of work they must perform daily and for their jobs. In order to treat these kinds of brain diseases, there has been an increase in the demand for cutting-edge medical technology.

Asia-Pacific will record significant growth in the global market for intracranial aneurysm. The market is expected to expand rapidly over the forthcoming years, which may easily lead to an increase in the demand for innovative technology within the medicare sector to enhance the treatment options available in the region. Moreover, the expansion of the regional intracranial aneurysm market is likely aided by lucrative growth prospects in developing nations like China, India, and Japan. For instance, rising medical tourism in India is anticipated to drive market expansion because of the country's relatively inexpensive cost of intracranial surgery compared to other industrialized nations like the U.S. In India, an aneurysm surgery typically costs roughly 7,000 USD as opposed to 30,000 USD in the U.S.

Segmental Analysis

The global intracranial aneurysm market has been divided into submarkets based on Type and end-user.

Based on type, the global market is segmented into Endovascular Coiling, Surgical Clipping, and Flow Diverters.

It is anticipated that Endovascular Coiling will take the lead in the market during the forecast period. It will be highly beneficial to use a catheter to treat problems associated with brain aneurysms, which prevent blood from entering the arteries. The accessories and benefits of this procedure are simple to access in both the vertebrobasilar systems and the multiple aneurysms in remote areas. This market segment is seeing the most growth due to the shorter time needed for recovery compared to the outcomes of other medical procedures.

The market segment for flow diverters is anticipated to experience the greatest CAGR over the forecast period. The market expansion is being driven by an increase in product approvals and a rise in demand for minimally invasive procedures. For instance, the smallest and softest embolic finishing coil, the Galaxy G3 micro coil, was introduced by Cerenovus (a division of Johnson & Johnson) in January 2018. Hemorrhagic stroke and cerebral aneurysms are both treated with it. Similarly, the Tunbridge Flow diverter manufactured by MicroPort Scientific Corporation was given CFDA clearance in March 2018. Thus, it is predicted that the category's expansion will be bolstered in the coming years by the rise in product approvals and the rise in demand for minimally invasive procedures.

Based on end-user, the global market is bifurcated into Hospitals and Ambulatory Surgical Centers. Hospital segments will record significant growth shortly due to the increasing number of patients worldwide.This is linked to the utilization of cutting-edge medical technology in operating rooms and intensive care units, the growth of hospitals worldwide, and increased government support for hospitals. In hospitals, technologically advanced equipment is widely used to deliver better care. These tools assist in producing better, quicker, and more accurate outcomes in addition to streamlining treatment methods.

Additionally, cerebral aneurysm surgeries are among the most important and difficult procedures, and they rely on the high-quality, long-lasting technology available in hospitals. Additionally, hospitals have facilities for post-operative physical therapy, making them better suited to address any post-operative difficulties. Additionally, patients frequently choose hospitals over emergency clinics because they offer better medical facilities and have access to cutting-edge technology. Therefore, the intracranial aneurysm market growth is being greatly boosted by these reasons.

Recent Developments

• June 2022, P. Moller – Maersk to acquire ResQ to strengthen Maersk Training's offerings within safety training and emergency preparedness.
• In June 2022, Maersk to launch a dedicated coastal service in New Zealand.
• In June 2022, P. Moller - Maersk completed the acquisition of Senator International.
• In June 2022, OBE Organic will collaborate with Maersk on sustainable ECO Delivery.
• In December 2022, Surgical Innovation Associates was fully acquired by Integra LifeSciences.
• In October 2022, FDA Approved TELIGENTM System by DePuy Synthes.
• In February 2023, In patients with ischemic stroke, the Medtronic LINQ Insertable Cardiac Monitor detects atrial fibrillation ten times more frequently at three years than the standard of care.