Intracranial Aneurysm Market Addressing the Growing Threat:Responds to Aging Population with Advanced Therapies

Intracranial Aneurysm Market

Intracranial Aneurysm Market to reach over USD 2.26 Billion by the year 2030.

Market Synopsis-

The market size of the global Intracranial Aneurysm market in the year 2019 is valued at 1.08 billion and is predicted to reach 2.26 billion by the year 2030 at an 8.8% CAGR during the forecast period.

A cerebral or intracranial aneurysm is an abnormal localized expansion of an artery brought on by a weakening of the blood vessel wall's inner muscular layer (the intima). The market is expanding because of the growth in risk factors for intracranial aneurysms, which include smoking, hypertension, coarctation of the aorta, bicuspid aortic valve, autosomal dominant PCKD, Ehlers-Danlos syndrome type IV, and family history.

Moreover, an increase in the global incidence of strokes would increase the likelihood of blood vessel rupture and subsequent intracranial aneurysm, which would spur market revenue growth. An increase in the frequency of brain aneurysms and an increase in the utilization of minimally invasive intracranial aneurysm surgeries are expected to fuel market expansion. A cerebral artery aneurysm is an enlargement of the inner wall.

Nevertheless, the intracranial aneurysm market has suffered due to the COVID-19 outbreak in 2020, which negatively affected demand and production, disrupted the supply chain, and increased the financial burden on firms. To stop the coronavirus from spreading, brain procedures have been frequently delayed or cancelled during this time. Additionally, advances in medicine and therapy techniques present lucrative chances for industry participants.

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On the other hand, the high expense of treating a brain aneurysm is projected to hinder market expansion. In the forecast future, the lack of effective and customized therapy is expected to be a challenge to the cerebral aneurysm treatment market.

List of Prominent Players in the Intracranial Aneurysm Market:
Medtronic
Micropart Scientific Corporation
B. Braun
Stryker
Johnson and Johnson Services Inc.
Micronation Inc. (Terumo Corporation)
Codman Neuro (Integra Lifesciences)

Market Dynamics:
Drivers-
The market is rising due to an increase in the number of patients suffering from high blood pressure and blood vessel trauma, as well as the growing adoption of hazardous lifestyle behaviours such as smoking, which causes cerebral aneurysm. The market is further positively impacted by the rising acceptance of medical therapies for the treatment of unruptured intracranial aneurysms and the growth in the number of advances in neurodegenerative disease drug discovery. The cerebral aneurysm treatment market is also favourably impacted by the rise in the percentage of smokers who acquire brain cancer, research and development, improved healthcare infrastructure, and a rise in healthcare spending.

Challenges:

The high cost of treating a brain aneurysm, is expected to limit market growth. The lack of effective and customized therapy is projected to be a problem for the cerebral aneurysm treatment industry soon. However, The COVID-19 outbreak in 2020, has had a detrimental influence on the intracranial aneurysm market by directly affecting demand and production, interrupting the supply chain, and putting further financial pressure on enterprises.

Regional Trends:

The North America Intracranial Aneurysm market is expected to register a major market share in terms of revenue during the forecast period. There is an increasing need for minimally invasive treatments due to the rising incidence of intracranial aneurysms, the expanding desire for minimally invasive procedures, and the rising frequency of hypertension and stroke. In addition, an increase in the occurrence of cerebral aneurysms and a rise in the desire for minimally invasive procedures are both contributing to the region's market growth.

Furthermore, the market expansion is likely to be fueled by a rising number of initiatives being conducted by various organizations. Furthermore, rising healthcare spending and the presence of well-established healthcare infrastructure are both contributing to the overall regional market's growth.

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Recent Developments:

• In June 2022, Medtronic Private Limited introduced the Pipeline Vantage with Shield Technology, a CE-marked fourth-generation flow diverter for endovascular treatment of brain aneurysms. The Pipeline Vantage with Shield Technology is a revolutionary flow diverter with improved design characteristics for both the delivery system and the implant.

• In November 2020, Stryker Corporation received the USFDA approval for its Nitroform Atlas Stent System for marketing under the HDE. The device has been designed to provide the coil support and wall apposition needed to perform effective stent-assisted coiling procedures.
Segmentation of Intracranial Aneurysm Market-

By Types

• Surgical Clipping
• Endovascular Coiling
• Flow Diverters
• Other Types

By End-Users

• Hospitals
• Clinics
• Other End-Users"

By Region-
North America-

• The US
• Canada
• Mexico

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-

• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-

• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-

• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.