PUBLISHER: Acute Market Reports | PRODUCT CODE: 1552400
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1552400
The intracranial aneurysm market revolves around the treatment and diagnosis of balloon-like dilations that form in blood vessels within the brain, known as intracranial aneurysms. These can rupture, leading to potentially fatal subarachnoid hemorrhages. Recognizing its life-threatening implications, the medical sector has been actively focused on advancing the diagnostic and treatment avenues related to intracranial aneurysms. The intracranial aneurysm market is estimated to grow at a CAGR of 9.2% from 2024 to 2032.
Key Driver: Aging Population and Increase in Hypertension Cases
One of the most pronounced drivers for the growth of the Intracranial Aneurysm Market is the globally aging population combined with the rise in hypertension cases. The World Health Organization suggests that the number of people aged 65 or older is expected to double by 2050, reaching nearly 1.5 billion. Older age has been consistently linked with a higher prevalence of intracranial aneurysms. Moreover, hypertension or high blood pressure stands as a leading risk factor for the formation and rupture of these aneurysms. As lifestyles become increasingly sedentary and dietary habits shift, hypertension cases are on an upsurge. As these numbers grow, the demand for interventions and diagnostics related to intracranial aneurysms is anticipated to increase, pushing the market forward.
Opportunity: Advancements in Minimally Invasive Surgeries
The field of neurosurgery has seen a transformative shift with the advent of minimally invasive surgical techniques. Endovascular coiling and the use of flow diverters have shown promise in treating intracranial aneurysms with lower morbidity rates and shorter hospital stays compared to traditional surgical clipping. Hospitals and clinics globally are updating their infrastructure to accommodate these advancements, leading to a broader acceptance and application of these techniques. This transition towards minimally invasive procedures presents a lucrative opportunity for market players to innovate and expand their product offerings.
Restraint: High Cost of Treatment Procedures
Despite the advancements, a significant restraint to the market is the high cost associated with the diagnosis and treatment of intracranial aneurysms. Procedures like endovascular coiling or the use of flow diverters can be exorbitant, making it inaccessible for a considerable portion of the population, especially in low to middle-income countries. Furthermore, the need for specialized equipment and trained professionals adds to the overall cost, which can deter healthcare facilities from adopting advanced treatment methods.
Challenge: Lack of Awareness and Proper Healthcare Infrastructure
A pressing challenge in the Intracranial Aneurysm Market is the lack of awareness among the general population and even among primary care providers. Many aneurysms remain undiagnosed due to their asymptomatic nature until rupture, which often results in severe complications or death. Initiatives for early screening and diagnosis are scant. Moreover, in several developing nations, there's a glaring deficit in healthcare infrastructure and expertise required to handle complex neurosurgical procedures. The unavailability of specialized neurosurgical centers and skilled neurosurgeons in remote areas makes timely intervention challenging.
Market Segmentation by Type
Surgical clipping, a time-tested method that involves placing a clip on the aneurysm's neck, preventing blood flow into it, historically held the most substantial revenue share. Its popularity in 2023 could be attributed to its long-standing presence and efficacy in preventing aneurysm rupture. Endovascular coiling, a minimally invasive procedure, involves placing a coil into the aneurysm to promote blood clotting and reduce the risk of rupture. This method, due to its less invasive nature, exhibited the highest Compound Annual Growth Rate (CAGR) as of 2023 and is anticipated to maintain this trend from 2024 to 2032. Flow diverters, relatively newer entrants, act as stents placed across the aneurysm neck, redirecting blood flow and promoting aneurysm occlusion. The "Others" segment comprises alternative treatments and therapies that are either in developmental stages or are less commonly used.
Market Segmentation by End-Use
In 2023, hospitals, owing to their infrastructural capabilities and access to specialized neurosurgical equipment and experts, accounted for the highest revenue in the Intracranial Aneurysm Market. The array of treatments and emergency services they provide, especially for a condition as critical as an intracranial aneurysm, makes them the preferred choice for many patients. Clinics, primarily outpatient setups, have been growing at a commendable rate, attributed to the shift towards minimally invasive procedures that don't necessitate prolonged hospital stays. The segment labeled "Others" includes specialized neurosurgical centers, research facilities, and rehabilitation centers. Among these, specialized neurosurgical centers are expected to register the highest CAGR from 2024 to 2032, as they focus exclusively on conditions like intracranial aneurysms and are equipped with state-of-the-art technologies and specialists.
Market Segmentation by Region
North America, in 2023, dominated the market in terms of revenue, largely due to its advanced healthcare infrastructure, high patient awareness levels, and availability of skilled professionals. The European region followed closely, driven by robust healthcare systems in countries like Germany, the UK, and France. However, the Asia-Pacific region is anticipated to exhibit the highest CAGR from 2024 to 2032. Factors like increasing healthcare expenditure, rapidly developing healthcare infrastructure, and a growing patient pool, especially in countries like India and China, are expected to fuel this growth.
Competitive Trends
In terms of competition, several key players have established their dominance in the Intracranial Aneurysm Market. Companies like Medtronic, Stryker, MicroPort Scientific Corporation, Johnson & Johnson Services, Inc., MicroVention Inc., Integra LifeSciences, and B. Braun Melsungen AG, held significant market shares in 2023 due to their comprehensive product portfolios, robust R&D capabilities, and extensive distribution networks. Their strategies often revolve around product innovations, mergers, and acquisitions. For instance, Medtronic's continuous innovation in flow diverters has strengthened its market position. However, from 2024 to 2032, emerging players, with their niche technologies and patient-centric approaches, are expected to challenge the status quo, bringing in fresh competition and potentially reshaping market dynamics.
Historical & Forecast Period
This study report represents an analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends & technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. The key data points that enable the estimation of Intracranial Aneurysm market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users & consumption volume, price, and value.
Geographical revenues generated by countries considered in the report
Micro and macro environment factors that are currently influencing the Intracranial Aneurysm market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top-down and bottom-up approach for validation of market estimation assures logical, methodical, and mathematical consistency of the quantitative data.
Market Segmentation
Type
End-Use
Region Segment (2022-2032; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Intracranial Aneurysm market?
What are the key investment pockets concerning product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2032.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Intracranial Aneurysm market?
Which is the largest regional market for Intracranial Aneurysm market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Intracranial Aneurysm market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Intracranial Aneurysm market worldwide?
FIG. 9Market Positioning of Key Intracranial Aneurysm Market Players, 2023
FIG. 10Global Intracranial Aneurysm Market - Tier Analysis - Percentage of Revenues by Tier Level, 2023 Versus 2032