Intracranial Aneurysm Market Size, Share & Trends Analysis Report By Type (Surgical Clipping, Endovascular Coiling, Flow Diverters), By End Use (Hospitals, Clinics), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global intracranial aneurysm market size was valued at USD 979.85 million in 2019 and is anticipated to expand at a CAGR of 8.8% over the forecast period. Increasing number of patients suffering from cerebrovascular disorder and rising adoption of minimally invasive intracranial aneurysms procedures are expected to drive the market in the coming years.

Intracranial aneurysm, also known as brain or cerebral aneurysm, is a bulging, weakened area in the wall of an artery in the brain. It results in an abnormal ballooning, widening, or bleb. An intracranial aneurysm majorly occurs in an artery located in the front part of the brain, which supplies oxygen-rich blood to the tissues. Factors contributing to the formation of intracranial aneurysm are hypertension, smoking, injury or trauma to the blood vessels, complication from few types of blood infections, and genetic predisposition. The treatment of intracranial aneurysm includes medical therapy, surgical clipping or therapy and endovascular therapy or coiling without or with adjunctive devices.

Increasing number of patients suffering from hypertension and trauma or injury to blood vessels is another factor driving the overall brain aneurysm treatment market. Hypertension is mainly caused due to high blood pressure, which significantly increases the risk of brain, heart, kidney and other diseases. For instance, according to WHO facts 2019, around 1.13 billion people worldwide have hypertension.

Countries such as U.S. and Canada have witnessed high prevalence of intracranial aneurysm in the recent years. According to the 2017 report published by Neuro Intervention India, approximately 6.0 million people in U.S. develop unruptured intracranial aneurysm. It also reported that individuals aged between 35 and 60 years and geriatric population are at a higher risk of developing an intracranial aneurysm.

Furthermore, it reported that every year, around 30,000 deaths in U.S. are due to the rupture of intracranial aneurysms. Similarly, as per the report published by Brain Aneurysm Foundation, the annual rate of intracranial rupture is around 8 to 10 per 100,000 individuals in U.S. Therefore, high prevalence of intracranial aneurysm is anticipated to boost the brain aneurysm market growth over the forecast period.

Increasing incidence of intracranial aneurysm in some of the developed and developing countries has driven the launch of technologically advanced products in the market. Endovascular coiling, surgical clipping, and flow diverters are some of the notable treatment modalities used for treating intracranial aneurysm. Some of the key players operating in this market are DePuy Synthes, Microport Scientific Corporation, Medtronic, B. Braun Melsungen AG, and adeor medical AG. Market players are taking constant efforts to introduce technologically advanced products in the market.

Type Insights

The endovascular coiling segment dominated the global intracranial aneurysm market in 2019. It is a minimally invasive technique that makes use of a catheter to locate the intracranial aneurysm. Endovascular coiling offers advantages, such as easy access to the vertebrobasilar system and multiple aneurysms in distant areas and shorter recovery time as compared to surgical clipping procedure. Thus, benefits offered by endovascular coiling technique is expected to fuel the segment growth.

The surgical clipping segment is expected to witness the highest growth during the forecast period. Despite being a traditional method of treatment, surgical clips have observed an increase in the adoption rate, especially in developing countries, mainly due to the low cost of device. Additionally, surgical clips provide greater chance of survival in the long term as compared to embolization coils, which have a higher risk of rupture/bleeding in the long term.

End-use Insights

Hospitals dominated the cerebral aneurysm market in 2019 and is expected to witness the highest growth during the forecast period. This is attributed to the use of technologically advanced equipment in operation theaters and intensive care units (ICUs), increasing number of hospitals worldwide, and rising government funding to the hospitals.

In addition,intracranial aneurysm procedures are among the most critical and complicated surgeries that are dependent on high quality and durable equipment found in hospitals.Hospitals are also better equipped to handle any post-operative complications and they include facilities for physical rehabilitation post surgeries. Thus, these factors are significantly boosting the market growth.

Regional Insights

North America dominated the brain aneurysm treatment market in 2019 owing to the presence of well-established healthcare facilities, growing ageing population, and high incidence of hypertension and stroke. Furthermore, increase in the prevalence of intracranial aneurysm and rise in the demand for minimally invasive procedures are contributing to the market growth in the region.

Asia Pacific is expected to expand at the highest CAGR during the forecast period due to growing ageing population, various lifestyle stress, rising incidence of hypertension, large population, improvement in the quality of diagnosis, and increasing patient affordability. All the above-mentioned factors have together resulted in a significant number of intracranial aneurysm procedures in Asia Pacific. Moreover, lucrative growth opportunities in developing countries, such as Japan, India, and China, are likely to contribute to the regional brain aneurysm market growth.

Intracranial Aneurysm Market Share Insights

Major players in the industry include Medtronic; Microport Scientific Corporation; B. Braun; Stryker; Johnson and Johnson Services Inc.; Microvention Inc.; and Codman Neuro (Integra Lifesciences). Key players in the market for intracranial aneurysm 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 Pipeline Flex Embolization Device used for the treatment of giant or wide-necked intracranial aneurysms (IAs). These advancements are anticipated to boost the cerebral aneurysm market growth over the forecast period.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global intracranial aneurysm market report on the basis of type, end use, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Surgical Clipping

  • Endovascular Coiling

  • Flow Diverters

  • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospitals

  • Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE