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

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 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. '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'

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.

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.

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.