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). 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.
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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.
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.
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.
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.
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.
The global intracranial aneurysm market has been segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
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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 intracranial aneurysm market. 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.
The key players in the global intracranial aneurysm market include