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, 2022 - 2030

Report Overview

The global intracranial aneurysm market size was valued at USD 1.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.0% from 2022 to 2030. An increase in the incidence of brain aneurysms as well as rising adoption of minimally invasive intracranial aneurysms procedures is expected to drive market growth in the coming years. An intracranial aneurysm is a bulging in the wall of an artery in the brain. It results in an abnormal ballooning, widening, or bleb. Factors contributing to the formation of a brain aneurysm are injury/trauma to blood vessels, smoking, hypertension, and genetic predisposition. The treatment of brain aneurysms includes medical therapy, surgical clipping or endovascular therapy, or coiling without or with adjunctive devices.

The outbreak of COVID-19 in the year 2020, has negatively impacted the market for intracranial aneurysms by directly affecting the demand and production, creating a disruption in the supply chain and increasing the financial burden on firms. To reduce the spread of the coronavirus, brain surgeries have frequently been postponed or even canceled during this timeframe. In worst-affected nations, such as the U.S., Russia, India, Brazil, France, the U.K., Italy, and Spain, neurosurgical operations fell by 55%. However, according to a study published in the Elsevier journal (International Hemorrhagic Hospital Association) (Jan 2021) titled "COVID-19 and Hospital: A review," up to 36% of hospitalized COVID-19 patients may experience neurological symptoms, and there have been several cases of ischemic and hemorrhagic infarction. These findings also suggest that COVID-19 might enhance sales in the neurology industry. Thus, these factors are expected to create lucrative opportunities for the market to grow in the near future, providing profitable opportunities for key players post COVID-19.

The increasing number of patients suffering from high blood pressure and trauma to blood vessels is another factor driving the market for intracranial aneurysms. Hypertension significantly increases the risk of a brain aneurysm and other diseases. At present, a large percentage of the population is at risk of developing brain aneurysms as a result of high blood pressure and smoking. For instance, according to WHO facts 2019, around 1.13 billion people worldwide have hypertension. In addition, the global population at present is aging at an accelerating pace. According to the NCBI research studies, the prevalence rate of unruptured brain aneurysms in elderly patients is rapidly increasing especially in patients aged 70 years or older. As per the WHO report 2018, the world base population in the age group of 60 and older is expected to reach up to 2 billion by 2050 from 900 million in 2015. Therefore, such a large geriatric patient base is anticipated to be one of the key success factors for the growth of the market for intracranial aneurysms over the forecast period.

Furthermore, nowadays minimally invasive surgeries are gaining popularity owing to reduced risk and trauma associated with these procedures. Smaller incisions decrease postoperative pain and facilitate speedy recovery leading to high adoption of these procedures and triggering the growth of R&D in this field. Numerous key players are continuously investing in R&D for the launch of innovative minimally invasive endovascular coiling instruments. The endovascular coiling used for the treatment of intracranial aneurysms is one of the minimally invasive procedures that is widely recommended by physicians. In this procedure, a microcatheter is inserted in the groin area through the artery consisting of an aneurysm. Platinum coils are then released as the coil promotes the clotting of aneurysm and prevents blood from entering other regions of the brain. Therefore, such advantages are anticipated to boost the demand for minimally invasive procedures, thereby propelling the market growth.

Countries such as the U.S., the U.K., and Germany have witnessed a high prevalence of intracranial aneurysms in recent years. According to the 2017 report published by Neuro Intervention India, approximately 6.0 million people in the U.S. develop an unruptured intracranial aneurysm. It is also reported that every year, around 30,000 deaths in the U.S. are due to the rupture of intracranial aneurysms. Similarly, as per the report published by Brain Aneurysm Foundation in 2017, the annual rate of brain rupture is around 8 to 10 per 100,000 individuals in the U.S. In addition, according to the European Society of Cardiology (ESC), around 15% to 25% of the adult population in Germany has high blood pressure. Therefore, the high prevalence of intracranial aneurysms in these countries is anticipated to boost market growth over the forecast period.

Moreover, the increasing incidence of intracranial aneurysms in some developed and developing countries has driven the launch of technologically advanced products in the market for intracranial aneurysms. In December 2018, Woven EndoBridge (WEB) Aneurysm Embolization System by Sequent Medical, Inc. received FDA approval. This system is designed for treating wide-neck intracranial aneurysms and is equipped with a delivery wire, controller, and implant. In October 2019, Per-flow Medical received CE mark approval for its Cascade Agile. This cascade agile enhances control for tortuous and distal vessel anatomy at the time of coil embolization. The device has a unique net design that allows constant blood flow during cerebral aneurysm coiling and repair. This product is widely marketed in Europe for treating acute ischemic stroke and intracranial aneurysms. Such developments, therefore, are anticipated to propel market growth over the forecast period.

Type Insights

The endovascular coiling segment dominated the market for intracranial aneurysms and accounted for a revenue share of 85.1% in 2021. It is a minimally invasive technique that makes use of a catheter to locate the aneurysm in the brain. The catheter is passed from the groin area through the artery having an aneurysm. Coils that induce embolization (coils or liquids) are placed for preventing blood flow into the aneurysm. Endovascular coiling offers advantages such as easy access to the vertebrobasilar system and multiple aneurysms in the distant area and shorter recovery time as compared with surgical clipping procedures. Thus, the benefits offered by the endovascular coiling technique are driving the segment growth.

However, the flow diverters segment is expected to witness the highest CAGR of 12.2% from 2022 to 2030. The rise in the number of product approvals and increase in demand for minimally invasive procedures are driving the segment growth. For instance, in January 2018, Cerenovus, (part of Johnson & Johnson) launched the softest and smallest embolic finishing coil- Galaxy G3 mini coil. It is used in the treatment of hemorrhagic stroke and intracranial aneurysms. Similarly, in March 2018, MicroPort Scientific Corporation received CFDA approval for its Tunbridge Flow diverter. Thus, the rise in the number of product approvals and increase in demand for minimally invasive procedures is projected to strengthen the growth of the segment growth in the coming years.

End-use Insights

The hospital segment dominated the market for intracranial aneurysms and accounted for a revenue share of 89.5% in 2021 and is expected to expand at the highest CAGR of 9.1% over the forecast period. This is attributed to the use of technologically advanced equipment in operation theaters and intensive care units, the increasing number of hospitals worldwide, and rising government funding to the hospitals. Technologically advanced devices are being used extensively in hospitals to provide better treatment. These devices are not only simplifying treatment procedures but are also helping provide better, faster, and more accurate results.

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. Also, hospitals are widely preferred by patients in comparison to emergency clinics owing to improving health care facilities and the availability of advanced equipment. Thus, these factors are significantly boosting the market growth.

Regional Insights

North America dominated the market for intracranial aneurysms and accounted for a revenue share of 27.2% in 2021 owing to the presence of well-established healthcare facilities, a growing aging population, and a high incidence of hypertension and stroke. Furthermore, an increase in the prevalence of intracranial aneurysms and a rise in the demand for minimally invasive procedures are contributing to the market growth in the region. Furthermore, an increasing number of initiatives being undertaken by various organizations is expected to fuel market growth. For instance, The Bee Foundation (TBF), a nonprofit organization, is focused on spreading awareness and reducing the number of deaths due to cerebral aneurysms through innovative research. The TBF invites proposals for a brain aneurysm research grant, which is likely to help the organization achieve its aim of reducing mortality due to brain aneurysms.

In the Asia Pacific, the market for an intracranial aneurysms is expected to witness at the highest CAGR of 12.9% from 2022 to 2030. This is attributed to the factors such as the growing aging 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 the Asia Pacific. Moreover, lucrative growth opportunities in developing countries, such as Japan, India, and China, are likely to contribute to the regional intracranial aneurysm market growth. For instance, increasing medical tourism in India due to the relatively low cost of intracranial surgery in comparison with other developed countries such as the U.S. is expected to fuel market growth. The average cost of aneurysm surgery in India is around USD 7,000 as compared to USD 30,000 in the U.S.

Key Companies & Market Share Insights

Manufacturers in the market for an intracranial aneurysms 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 the 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.

Moreover, market players are focused on adopting strategies such as marketing and promotions, broadening product portfolios are widely used by companies in the market to increase awareness about the benefits of intracranial aneurysms and also to increase the availability and outreach of their product offerings. For instance, in October 2017, Johnson and Johnson completed the divestiture of its Codman Neurosurgery business segment to Integra LifeSciences Holding Corporation. As a result, Johnson and Johnson focus majorly on its new business unit CERENOVUS (launched in June 2017), which is involved in developing devices used for the treatment of stroke and cerebral aneurysm. Some of the prominent players in the intracranial aneurysm market include:

• Medtronic

• MicroPort Scientific Corporation

• B. Braun

• Stryker

• Johnson and Johnson Services Inc.

• Microvention Inc.

• Codman Neuro (Integra Lifesciences)

Intracranial Aneurysm Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global intracranial aneurysm market report based on type, end-use, and region:

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Surgical Clipping

  • Endovascular Coiling

  • Flow Diverters

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • 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