USD 1.1 billion
Intracranial Aneurysm Market Size, Share, Growth Analysis, By Type(Surgical clipping, endovascular coiling, and flow diverters), By End-use(Hospitals, clinics, and research laboratories), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2427 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Intracranial Aneurysm Market Insights
Intracranial Aneurysm Market size was valued at USD 1.20 billion in 2022 and is poised to grow from USD 1.30 billion in 2023 to USD 2.60 billion by 2031, at a CAGR of 9.0% during the forecast period (2024-2031).
The global intracranial aneurysm market has been experiencing steady growth driven by factors such as an aging population, increasing awareness about early diagnosis and treatment, and advancements in medical technology.
Rising healthcare expenditure in both developed and developing economies has facilitated greater access to healthcare services, including diagnosis and treatment for intracranial aneurysms. Furthermore, technological advancements in medical devices and procedures have significantly improved treatment outcomes.
Minimally invasive endovascular techniques, such as coiling and flow diversion, have gained popularity due to their reduced invasiveness, shorter hospital stays, and quicker recovery times. The development of advanced imaging modalities has also allowed for better detection and precise treatment planning.
However, the market faces certain challenges. The high cost associated with treating intracranial aneurysms remains a significant restraint, limiting access to advanced treatments for some patients.
Additionally, the complexity and potential risks associated with endovascular procedures can deter patients and healthcare providers from adopting these cutting-edge interventions.
Overall, the global intracranial aneurysm market is expected to continue its growth trajectory in the coming years, driven by increasing awareness, technological advancements, and an aging population. Addressing the cost challenges and continuously refining the safety and efficacy of treatments will remain key areas of focus for industry players to unlock the full potential of this market.
US Intracranial Aneurysm Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
endovascular coiling
Fastest Growth
endovascular coiling
Growth Rate
9.0% CAGR
Global Intracranial Aneurysm Market ($ Bn)
Country Share for North America Region (%)
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Intracranial Aneurysm Market Segmental Analysis
The market is segmented by type, end-use, and region. By type, the market is segmented into surgical clipping, endovascular coiling, and flow diverters. By end-use, the market is segmented into hospitals, clinics, and research laboratories. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Intracranial Aneurysm Market Analysis By Type
Among the three segments, the largest and most established segment in the global intracranial aneurysm market is endovascular coiling. Endovascular coiling has emerged as the treatment of choice for many patients due to its minimally invasive nature, faster recovery times, and impressive clinical outcomes. This segment holds the lion's share of the market, accounting for approximately 60% of the total revenue.
The fastest-growing segment in the market is flow diverters, with an impressive CAGR of over 15% in the last few years. Flow diverters have gained immense popularity among healthcare providers and patients alike for their revolutionary approach to treating complex and wide-necked aneurysms. By utilizing a mesh-like structure, flow diverters effectively divert blood flow away from the aneurysm, promoting natural healing and preventing rupture. The attractiveness of the flow diverters segment is underpinned by the increasing incidence of challenging aneurysm cases, which demand innovative and effective solutions.
Intracranial Aneurysm Market Analysis By End-Use
The largest segment in the global intracranial aneurysm market, by end-use, is hospitals. Their prominence in the market can be attributed to their well-established infrastructure, availability of advanced medical technologies, and a pool of skilled healthcare professionals dedicated to handling complex neurosurgical cases. Hospitals dominate the market with an overwhelming share of approximately 70% of the total market revenue. This strong position is a testament to the trust patients place in hospitals for their specialized care and expertise in managing intracranial aneurysms. Moreover, hospitals often serve as referral centers for complex cases, drawing patients from various regions seeking the best possible treatment outcomes.
The fastest-growing segment in the market is clinics, exhibiting an impressive CAGR of around 12% in recent years. Firstly, the increasing prevalence of intracranial aneurysms demands accessible and convenient medical services for patients. Clinics, being more localized and convenient, can cater to patients seeking regular check-ups, post-treatment care, and follow-up visits. Secondly, the rising adoption of minimally invasive procedures has fueled the growth of clinic-based treatments for intracranial aneurysms. Many endovascular procedures, such as coiling, can be performed on an outpatient basis in clinics, reducing hospitalization time and overall costs for patients. The attractiveness of the clinics segment is further enhanced by the growing emphasis on value-based care and patient-centric approaches.
Global Intracranial Aneurysm Market By Type
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Intracranial Aneurysm Market Regional Insights
The global intracranial aneurysm market showcases intriguing regional insights, with two regions standing out prominently - North America as the dominating region and Asia-Pacific as the fastest-growing region. North America, with its well-established healthcare infrastructure and a high prevalence of risk factors like hypertension and smoking, holds the lion's share of the market, commanding approximately 40% of the total market revenue. The region boasts cutting-edge medical technologies and a skilled pool of neurosurgeons, making it a key destination for intracranial aneurysm treatments. For instance, renowned medical centers like the Mayo Clinic and Cleveland Clinic in the United States are at the forefront of offering comprehensive and advanced care for patients with intracranial aneurysms. These centers continuously strive to improve patient outcomes through innovative treatments and research, solidifying North America's dominant position in the market.
On the other hand, the Asia-Pacific region is witnessing rapid growth, registering an impressive CAGR of around 12% in recent years. The region's growing population, rising disposable income, and increasing awareness about neurological disorders have contributed to the surge in demand for intracranial aneurysm treatments. Countries like China and India have emerged as key growth drivers in the region, with a burgeoning patient pool seeking quality healthcare services. For instance, specialized centers like the All India Institute of Medical Sciences (AIIMS) in India and Peking Union Medical College Hospital (PUMCH) in China have become prominent destinations for neurosurgical interventions. As these countries invest in upgrading their healthcare infrastructure and embracing cutting-edge technologies, the Asia-Pacific region is poised to become a significant player in the global market.
Global Intracranial Aneurysm Market By Geography
- Largest
- Fastest
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Intracranial Aneurysm Market Dynamics
Intracranial Aneurysm Market Drivers
Technological Advancements
- Advances in medical technology, such as minimally invasive endovascular procedures, improved imaging techniques, and the development of novel devices, can drive market growth. These advancements often lead to better treatment outcomes, reduced patient discomfort, and shorter recovery times.
Growing Aging Population
- As the global population ages, the prevalence of intracranial aneurysms is likely to increase. Elderly individuals are more susceptible to developing aneurysms, leading to a higher demand for treatments and procedures.
Intracranial Aneurysm Market Restraints
High Treatment Costs
- Treating intracranial aneurysms can be expensive, especially for complex cases that require specialized devices or surgical interventions. High treatment costs can limit access to care for some patients and may put financial strain on healthcare systems.
Risks and Complications
- Intracranial aneurysm treatments, whether surgical or endovascular, carry risks, including bleeding, stroke, or infections. These potential complications can lead to hesitation among patients and physicians when deciding on treatment options.
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Intracranial Aneurysm Market Competitive Landscape
The competitive landscape of the global intracranial aneurysm market is characterized by intense rivalry among key players striving to establish their presence and gain a competitive edge. Leading medical device manufacturers, healthcare institutions, and research organizations are actively involved in developing innovative products and advancing treatment options for intracranial aneurysms. These companies continuously invest in research and development to bring novel devices and therapeutic approaches to the market. Additionally, strategic collaborations, partnerships, and mergers are common strategies adopted by players to expand their product portfolios and geographical reach.
Intracranial Aneurysm Market Top Player’s Company Profiles
- Medtronic plc - Ireland
- Johnson & Johnson - United States
- Stryker Corporation - United States
- MicroPort Scientific Corporation - China
- Terumo Corporation - Japan
- Penumbra, Inc. - United States
- Abbott Laboratories - United States
- MicroVention, Inc. (subsidiary of Terumo Corporation) - United States
- Balt Extrusion - France
- Merit Medical Systems, Inc. - United States
- Phenox GmbH - Germany
- Sequent Medical (now part of Terumo Corporation) - United States
- W. L. Gore & Associates, Inc. - United States
- Shape Memory Medical Inc. - United States
- Gynesonics, Inc. - United States
- Medikit Co., Ltd. - Japan
- Oxford Endovascular Ltd. - United Kingdom
- DePuy Synthes (a subsidiary of Johnson & Johnson) - United States
- Rapid Medical Ltd. - Israel
- Orsan Medical Technologies Ltd. - Israel
Intracranial Aneurysm Market Recent Developments
- In February 2023, Medtronic, a renowned medical device company, unveiled its latest innovation, the Pipeline Flex, a cutting-edge flow diverter designed to revolutionize the treatment of complex brain aneurysms.
- In March 2023, Terumo Corporation made an impactful announcement about the launch of its Solitaire Neuro Foam Plus, an advanced endovascular coiling device.
Intracranial Aneurysm Key Market Trends
Minimally Invasive Procedures
- There has been a growing trend towards minimally invasive procedures for treating intracranial aneurysms. Endovascular techniques, such as coiling and flow diversion, have gained popularity due to their reduced invasiveness and shorter recovery times compared to traditional open surgical approaches. These procedures involve threading catheters through blood vessels to access and treat the aneurysm, which can be less traumatic for patients and result in better outcomes.
Technological Advancements in Devices
- The market for intracranial aneurysm treatment has been witnessing significant advancements in medical devices used for endovascular procedures. For example, the development of advanced imaging technologies and innovative embolic materials has improved the precision and effectiveness of treatments. Moreover, the introduction of flow diverters and stent-assisted coiling techniques has expanded the treatment options available to physicians and increased the success rate of aneurysm repair.
Intracranial Aneurysm Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global intracranial aneurysm market analysis, The market's growth is driven by several key factors. One of the significant drivers is the increasing incidence of intracranial aneurysms worldwide, primarily attributed to factors such as an aging population, sedentary lifestyles, and rising prevalence of risk factors like hypertension and smoking. These factors have led to a higher demand for effective treatments and interventions for intracranial aneurysms. Another crucial factor contributing to the market's growth is the rising adoption of minimally invasive procedures for intracranial aneurysm treatment. Endovascular techniques, such as coiling and flow diversion, have gained popularity due to their advantages, including reduced invasiveness, shorter hospital stays, and faster patient recovery. The increasing preference for these less invasive procedures by both patients and healthcare providers is expected to drive market growth in the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.20 billion |
| Market size value in 2031 | USD 2.60 billion |
| Growth Rate | 9.0% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Intracranial Aneurysm Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Intracranial Aneurysm Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Intracranial Aneurysm Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Intracranial Aneurysm Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Intracranial Aneurysm Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Intracranial Aneurysm Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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