Intracranial Aneurysm Industry Overview
The global intracranial aneurysm market size is anticipated to reach USD 2.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 9.0% from 2022 to 2030. The increasing incidence rate of brain aneurysms worldwide and the growing number of patients suffering from hypertension are expected to drive the market in the coming years. The COVID-19 outbreak in the year 2020 have a negative impact on the market as the majority of elective neuro procedures were suspended to free-up limited space in healthcare settings to treat COVID-19 patients.
Intracranial Aneurysm Market Segmentation
Grand View Research has segmented the global intracranial aneurysm market based on type, end-use, and region:
Based on the Type Insights, the market is segmented into surgical clipping, endovascular coiling, flow diverters, others.
- The endovascular coiling segment dominated the market for intracranial aneurysms and accounted for a revenue share of 85.1% in 2021.
- The catheter is passed from the groin area through the artery having an aneurysm. Coils that induce embolization (coils or liquids) are placed for preventing blood flow into the aneurysm.
- Endovascular coiling offers advantages such as easy access to the vertebrobasilar system and multiple aneurysms in the distant area and shorter recovery time as compared with surgical clipping procedures.
- The flow diverters segment is expected to witness the highest CAGR of 12.2% from 2022 to 2030. The rise in the number of product approvals and increase in demand for minimally invasive procedures are driving the segment growth.
Based on the End-use Insights, the market is segmented into hospitals, clinics, others.
- The hospital segment dominated the market for intracranial aneurysms and accounted for a revenue share of 89.5% in 2021 and is expected to expand at the highest CAGR of 9.1% over the forecast period.
- This is attributed to the use of technologically advanced equipment in operation theaters and intensive care units, the increasing number of hospitals worldwide, and rising government funding to the hospitals.
- Intracranial aneurysm procedures are among the most critical and complicated surgeries that are dependent on high-quality and durable equipment found in hospitals.
Intracranial Aneurysm Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
Manufacturers in the market for an intracranial aneurysms are focusing on the introduction of innovative medical devices, growth strategies, and technological advancements. For instance, in 2019, Medtronic received the U.S. FDA approval for the Pipeline Flex Embolization Device used for the treatment of giant or wide-necked Intracranial Aneurysms (IAs).
Some prominent players in the global intracranial aneurysm market include
- Medtronic
- MicroPort Scientific Corporation
- B. Braun
- Stryker
- Johnson and Johnson Services Inc.
- Microvention Inc.
- Codman Neuro (Integra Lifesciences)
Order a free sample PDF of the Intracranial Aneurysm Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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