Intracranial Aneurysms - Market Insights, Competitive Landscape, and Market Forecast - 2030

Intracranial Aneurysms Market by Product Type (Surgical Clipping, Embolization Coils, Flow Diverters, and Others), End-User (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a respectable CAGR forecast till 2030 owing to the increasing cases of chronic disorders and the rising product developmental activities worldwide

The intracranial aneurysms market was valued at USD 1.13 billion in 2023, growing at a CAGR of 9.10% during the forecast period from 2024 to 2030, to reach USD 1.90 billion by 2030. The intracranial aneurysms market is observing substantial market growth primarily owing to the increasing cases of chronic disorders such as hypertension, innovative product developmental activities by leading companies, expanding geriatric population, and increasing government initiatives that are factors expected to escalate the overall growth of the intracranial aneurysms market during the forecast period from 2024 to 2030.

Intracranial Aneurysms Market Dynamics:

As per data provided by the World Health Organization (WHO) (2023), it stated that an estimated 1.28 billion adults aged between 30 and 79 years worldwide had hypertension, living in low- and middle-income countries. High blood pressure or hypertension is a significant risk factor for intracranial aneurysms, leading to an increased demand for effective diagnostic and treatment options and thus resulting in a larger market for medical devices and technologies related to intracranial aneurysm treatment.

Data from the WHO 2021, stated that between 2015 and 2050, people falling between 60 years and above will be doubled from 12 to 22%, and will eventually reach 2.1 billion by the year 2050, globally. Moreover, by 2030, 1 in 6 people will age 60 years or above. Due to the higher prevalence of age-related health issues, including cerebrovascular diseases that can lead to intracranial aneurysms, necessitating advanced diagnostic and treatment options. This demographic shift is prompting healthcare systems to invest more in endovascular procedures and technologies to manage aneurysms effectively, thereby expanding the market for same.

Increased product developmental activities by market players worldwide is also slated to witness market growth for intracranial aneurysms. For example, in June 2022, Medtronic announced the launch of CE marked fourth-generation flow diverter, Pipeline Vantage with Shield Technology for endovascular treatment of brain aneurysms.

Additionally, in September 2023, The Brain Aneurysm Foundation announced the launch of 'Stop the Pop', a new campaign intended to increase awareness of the prevalence and impact of brain aneurysms, and the need for ongoing investment to fund new innovations, screening, and treatment.

Therefore, all the factors stated above collectively will drive the overall intracranial aneurysms market growth.

However, stringent regulatory approval processes, complications associated with intracranial aneurysm treatment devices, and others may prove to be challenging factors for the intracranial aneurysms market growth.

Intracranial Aneurysms Market Segment Analysis:

Intracranial Aneurysms Market by Product Type (Surgical Clipping, Embolization Coils, Flow Diverters, and Others), End-User (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of intracranial aneurysms, the embolization coils category is expected to have a significant revenue share in the year 2023. This is because of the widespread uses and various key features of embolization coils that enhance their utility and effectiveness.

Embolization coils are critical in the minimally invasive treatment of intracranial aneurysms, offering key features such as high flexibility and visibility under X-ray, which ensure precise placement within the aneurysm. Typically made of platinum, these coils expand to fill the aneurysm sac, inducing clot formation and reducing the risk of rupture. Some coils are coated with bioactive or hydrogel materials to enhance clotting and healing within the aneurysm.

Embolization coils are primarily used for aneurysm occlusion, preventing blood flow into the aneurysm to reduce rupture risk. These are effective for small saccular and wide-necked aneurysms, and in complex cases, they may be used with adjunctive devices like stents or flow diverters to enhance treatment outcomes.

Furthermore, companies raising funds for the development and commercialization of the development of embolic coils are also expected to contribute to the segmental growth of the intracranial aneurysm market. For instance, in July 2021, a neuro- and peripheral-vascular interventional medical device company, Zylox-Tonbridge Medical Technology Co., Ltd. raised USD 329 million to aid the development and commercialization of its core products that include neurovascular embolization coils, a microcatheter for coiling, and others.

Therefore, the widespread uses and various key features of embolization coils that enhance performance and usability are solidifying the impact on the growth of the overall intracranial aneurysms market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall intracranial aneurysms market:

Among all the regions, North America is expected to dominate the intracranial aneurysms market in the year 2023 and is expected to do the same during the forecast period. This can be attributed to several factors including the high instances of brain aneurysm, combined with significant advancements in product development & regulatory approvals, presence of market key players, and availability of well-established advanced healthcare infrastructure that are acting as key factors contributing to the growth of the intracranial aneurysms market in the North America region during the forecast period from 2024 to 2030.

According to recent updated data from the Brain Aneurysm Foundation, stated that currently approximately 6.8 million individuals are affected by the brain aneurysm in the US. Further it added that, about 30,000 people in the US suffers brain aneurysm rupture each year. This condition is more prevalent in the individuals of aged from 35 to 60.

Since the cases of brain aneurysms is rising among middle-aged individuals the demand for more effective diagnostic and treatment options is increasing significantly. This trend is fueling investment in innovative technologies and expanding the market for the intracranial aneurysms.

Rising product developmental activities by market players in the region will further boost the market for intracranial aneurysms. For example, in June 2024, subsidiary of Terumo Corporation (Micro Vention), announced the US launch for its LVIS EVO intraluminal support device. The device is available in the US for the treatment of wide-neck intracranial aneurysms.

The prompt and well-established healthcare services and infrastructure further contribute to the growth of the regional intracranial aneurysms market growth. The presence of key players such as Johnson & Johnson Services, Inc., Medtronic, and Boston Scientific Corporation with their strong distribution networks ensure widespread availability and accessibility of these devices across the region increasing their revenue shares in the market, and supportive reimbursement programs providing immense growth opportunities for the same.

Therefore, the interplay of all the aforementioned factors would provide a conducive growth environment for the North American intracranial aneurysms market.

Intracranial Aneurysms Market key players:

Some of the key market players operating in the intracranial aneurysms market include Medtronic, MicroPort Scientific Corporation., B. Braun Melsungen AG, Stryker, Johnson & Johnson Services, Inc., Terumo Corporation, Penumbra, Inc., Balt, Wallaby Medical, Shape Memory Medical Inc, Zylox-Tonbridge Medical Technology Co., Ltd., Spartan Micro, Inc., Mizuho Medical Co.Ltd, Lepu Medical Technology Co., Ltd., Phenox GmbH, Peter LAZIC GmbH, adeor medical AG, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd, KANEKA CORPORATION, and others.

Recent Developmental Activities in the Intracranial Aneurysms Market:

• In June 2024, Softek Illuminate, Inc., provider of enterprise follow-up management and discovery software, announced a new partnership with Wellstar, one of the largest health systems in Georgia, to launch the new Discovery360 Cerebral Aneurysm (CA) program.
• In June 2024, Medtronic announced the European launch of Artisse, a new intrasaccular device designed to treat intracranial aneurysms by conforming to the shape of the aneurysm.

Key Takeaways from the Intracranial Aneurysms Market Report Study

• Market size analysis for current intracranial aneurysms market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the intracranial aneurysms market.
• Various opportunities available for the other competitors in the intracranial aneurysms market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current intracranial aneurysms market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for automated external defibrillator market growth in the coming future?

Target Audience who can be benefited from this Intracranial Aneurysms Market Report Study

• Intracranial aneurysms product providers
• Research organizations and consulting companies
• Intracranial aneurysms-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in intracranial aneurysms
• Various end-users who want to know more about the intracranial aneurysms market and the latest technological developments in the intracranial aneurysms market.

Frequently Asked Questions for the Intracranial Aneurysms Market:

1. What are intracranial aneurysms?

• The intracranial aneurysms or a cerebral aneurysm is an abnormal focal dilation of a brain artery due to the weakening of the inner muscular layer of a blood vessel wall. The vessel develops a "blister-like" dilation that can become thin and rupture without warning.

2. What is the market for intracranial aneurysms?

• The intracranial aneurysms market was valued at USD 1.13 billion in 2023, growing at a CAGR of 9.10% during the forecast period from 2024 to 2030, to reach USD 1.90 billion by 2030.

3. What are the drivers for the intracranial aneurysms market?

• The intracranial aneurysms market is observing substantial market growth primarily owing to the increasing cases of chronic disorders such as hypertension, innovative product developmental activities by leading companies, expanding geriatric population, and increasing government initiatives that are factors expected to escalate the overall growth of the intracranial aneurysms market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the intracranial aneurysms market?

• Some of the key market players operating in intracranial aneurysms include Medtronic, MicroPort Scientific Corporation., B. Braun Melsungen AG, Stryker, Johnson & Johnson Services, Inc., Terumo Corporation, Penumbra, Inc., Balt, Wallaby Medical, Shape Memory Medical Inc, Zylox-Tonbridge Medical Technology Co., Ltd., Spartan Micro, Inc., Mizuho Medical Co. Ltd, Lepu Medical Technology Co., Ltd., Phenox GmbH, Peter LAZIC GmbH, adeor medical AG, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd, KANEKA CORPORATION, and others.

5. Which region has the highest share in the intracranial aneurysms market?

North America is expected to dominate the overall intracranial aneurysms market during the forecast period from 2024 to 2030. This can be attributed to several factors including the high instances of brain aneurysm, combined with significant advancements in product development & regulatory approvals, presence of market key players, and availability of well-established advanced healthcare infrastructure that are acting as key factors contributing to the growth of the intracranial aneurysms market in the North America region during the forecast period from 2024 to 2030.