In 2019, the size of the Global Intracranial Aneurysm Market was valued at USD 1.23 Billion. The market is projected to grow at a CAGR of 8.62% over the estimated period. Increasing prevalence of intracranial aneurysm among geriatric population and the introduction of technologically advanced products in the healthcare sector are expected to offer promising growth opportunities for the global market.
A significant factor that is propelling the growth of the market is the genetic factor, which triggers the development of the condition in some patients. Another major factor that will propel the intracranial aneurysm market is the high prevalence rates of hypertension and trauma or injury to blood vessels.
According to WHO, 1.13 billion people worldwide had hypertension in 2019, and this number is expected to increase further in the coming years. This will promote the growth of the global market in the coming days.
Apart from these, growing risk of brain, heart, and kidney diseases, increasing prevalence of intracranial aneurysm across the world, atherosclerosis infection, hemorrhagic stroke, and other diseases will also have a positive impact on the market.
Further, technological advancement in the healthcare sector will provide ample growth opportunities in the coming days. On the other hand, high cost of treatment is a key challenge for the growth of the market.
The intracranial aneurysm market segmentation is based on end-use, type, and region.
Global Intracranial Aneurysm Market, by Type:
Based on type, the global intracranial aneurysm market is categorized into surgical clipping, endovascular coiling, flow diverters, and others. Advantages of endovascular coiling such as shorter recovery time is expected to help the segment maintain its dominance over the forecast period compared to the surgical clipping method.
Global Intracranial Aneurysm Market, by End-use:
Based on the end-use, the global market is divided into hospitals, clinics, and others. The factor that is expected to boost the growth of the hospital segment of the global market in terms of value over the forecast period is the increasing use of technologically advanced equipment in operation theatres and intensive care units (ICUs). The use of such technologically advanced equipment has witnessed a spurt in recent years, which is impacting the global intracranial aneurysm market positively.
Global Intracranial Aneurysm Market, by Region:
Based on regions, the global market has been segmented as North America, Europe, Asia Pacific, Middle East, & Africa, South America. North America held the largest market share in the global market in 2018. North America has witnessed increasing prevalence of brain aneurysm, according to the Surgical Neurology International. It is found that more than 3% population of the US, i.e., nearly 10 million people suffer from brain aneurysm.
The Asia Pacific region is also projected to register significant growth during the forecast period. Increasing patient pool and developing healthcare technology in the Asia Pacific region is expected to drive the growth of this regional market. The region is expected to register a high growth rate over the forecast period.
Major firms are making efforts to develop innovative medical devices and advancement in treatment approaches. They are also adopting various growth strategies, which along with technological advancement will boost the global intracranial aneurysm market over the forecast period.
The leading companies operating in the market include Johnson & Johnson, Integra Life Sciences Corporation, Spiegelberg GmbH, Sophysa Ltd, Medtronic Plc., Raumedic AG, Codman & Shurtleff, Inc., Vittamed, MicroPort Scientific Corporation, Sophysa Ltd., Orsan Medical Technologies, HaiWei King, InfraScan, Inc., and Head Sense Medical, among others.
This report also includes the profiles of key market companies, along with their SWOT analysis and market strategies. In addition, the competitive landscape provides a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments, and other latest industrial developments.
What Does This Report Provide?
This thorough market report focuses on statistics from different secondary and primary and sources, and it is analysed using several tools. It can help gain understandings into the market's growth prospective, which assist the stockholders in identifying the scope and prospects. The report analyses factors affecting the market from both demand and supply side and further analyses market dynamics during the forecast year.
The market dynamics include growth drivers, restraints, opportunities and future trends. The report also provides comprehensive Porter’s model analysis on the market for all six regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, South America.
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