By GlobeNewswire – Press Releases
New York, United States , June 21, 2024 (GLOBE NEWSWIRE) — The Global Intracranial Aneurysm Market Size is to Grow from USD 1.46 Billion in 2023 to USD 2.96 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.32% during the projected period.
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A cerebral or intracranial aneurysm is an unusual localized dilating of an artery in the brain brought on by the inner layer of muscle (the intima) of a blood vessel wall. A “blister-like” dilatation in the artery that might suddenly restrict and split is the cause of a subarachnoid hemorrhage (SAH), which results in bleeding into the region around the brain. Such a hemorrhage might cause a stroke, unconsciousness, or even death. Less than 1/8 of an inch to around one inch is the size range of aneurysms. An increase in high blood pressure patients due to trauma and blood vessel injuries, as well as hypertension that causes cases of intracranial brain aneurysms, is driving the demand for intracranial aneurysm treatment and remedies. According to the intracranial aneurysm market study, the industry is multifaceted and dynamic. At the moment, a lot of people are susceptible to brain aneurysms. The elderly demographic is more vulnerable to the disease, more affected by it, and more in need of speedy treatments. As the number of instances increases, the government is focusing more and more on treating brain aneurysms, providing everything from medication to consulting. However, the main barriers to the market’s growth include the high cost of illness management and problems following craniotomy surgery.
Browse key industry insights spread across 255 pages with 110 Market data tables and figures & charts from the report on the “Global Intracranial Aneurysm Market Size, Share, and COVID-19 Impact Analysis, By Type (Surgical Clipping, Endovascular Coiling, Flow Diverters, Others), By End User (Hospitals, Clinics, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The endovascular coiling segment is anticipated to hold the greatest share of the global intracranial aneurysm market during the projected timeframe.
Based on the type, the global intracranial aneurysm market is divided into surgical clipping, endovascular coiling, flow diverters, and others. Among these, the endovascular coiling segment is anticipated to hold the greatest share of the global intracranial aneurysm market during the projected timeframe. A tube is used in the endovascular coiling procedure, a minimally invasive way of identifying and treating brain aneurysms. Using this technique, a tube feeding the aneurysm is inserted into the artery in the groin area. After implantation, embolization, a process that involves putting embolic coils or liquids into the tube stops the aneurysm’s blood flow. The players in the sector are driving this market’s growth with their innovations in products for treating neurological illnesses.
The hospital segment is anticipated to grow at the largest share in the global intracranial aneurysm market during the projected timeframe.
Based on the end user, the global intracranial aneurysm market is divided into hospitals, clinics, and others. Among these, the hospital segment is anticipated to grow at the largest share in the global intracranial aneurysm market during the projected timeframe. Advanced medical equipment used in operating rooms and critical care units, the expansion of hospitals worldwide, and increased government funding for healthcare institutions are all related to this. Hospitals utilize a great deal of high-tech equipment to enhance patient care. These gadgets assist produce better, quicker, and more accurate findings in addition to streamlining treatment procedures.
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North America is expected to hold the largest share of the global intracranial aneurysm market over the forecast period.
North America is expected to hold the largest share of the global intracranial aneurysm market over the forecast period. The aging population, the high incidence of stroke and hypertension, and the presence of a strong healthcare system. In addition, the growing prevalence of cerebral aneurysms and the growing need for minimally invasive procedures are driving market development in this sector. Additionally, a number of initiatives being carried out by different organizations will accelerate market expansion. For example, the non-profit Bee Foundation (TBF) uses creative research to raise awareness and lower mortality rates associated with brain aneurysms.
Asia Pacific is predicted to grow at the fastest pace in the global intracranial aneurysm market during the projected timeframe. Some of the factors that are considered responsible for this include the aging of the population, high levels of stress in everyday life, a rise in the incidence of hypertension, improvements in the quality of diagnostics, and more patient affordability. These factors together have led to a significant number of cerebral aneurysm procedures in Asia Pacific. The potential for development in the regional market could originate from an expansion into developing countries such as China, India, and Brazil. The growing trend of medical tourism in India, where costs for intracranial treatments are lower than in developed nations like the US, is one factor anticipated to propel market rise.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global intracranial aneurysm market include Medtronic plc, Stryker Corporation, MicroPort Scientific Corporation., Johnson & Johnson, Services, Inc., MicroVention Inc., B. Braun Melsungen AG, Integra Life Sciences, RAUMEDIC AG, Terumo Corporation, Delta Surgical, Others.
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Recent Developments
- In October 2023, according to research that was published in the BMJ Journal of Neurointerventional Surgery, AI software termed Pre size can anticipate a patient’s stent placement more accurately than human physicians. This breakthrough demonstrates how the incorporation of AI might present prospects for market participants to flourish.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global intracranial aneurysm market based on the below-mentioned segments:
Global Intracranial Aneurysm Market, By Type
- Surgical Clipping
- Endovascular Coiling
- Flow Diverters
- Others
Global Intracranial Aneurysm Market, By End User
Global Intracranial Aneurysm Market, Regional Analysis
- North America
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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Source: GlobeNewswire – Press Releases