Intracranial Aneurysm Market Growth and Sustainable Growth Opportunities Till 2028

Posted on 2022-05-10 by researchinsights in Healthcare // 0 Comments

Felton, California , USA, May 10 2022 — /EPR Network/ —

Intracranial Aneurysm Industry Overview

The global intracranial aneurysm market size was valued at USD 1.06 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028.

The increasing number of patients suffering from cerebrovascular disorder and the rising adoption of minimally invasive intracranial aneurysm procedures are expected to drive the market 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. This 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 a brain aneurysm are smoking, hypertension, injury/trauma to blood vessels, and genetic predisposition. The treatment of brain aneurysms includes medical therapy, surgical clipping or endovascular therapy, or coiling without or with adjunctive devices.

The increasing number of patients suffering from high blood pressure and trauma to blood vessels is another factor driving the overall market. 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 aneurysm as a result of high blood pressure and smoking. For instance, according to the 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 among patients aged 70 years or older. As per the WHO report 2018, the world base of population pertaining to 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 over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Intracranial Aneurysm Market

Furthermore, nowadays, minimally invasive surgeries are gaining popularity owing to the 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 an 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 market growth.

Countries such as the U.S. and Canada 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, according to the Brain Aneurysm Foundation, around 2,800 to 3,500 people in Canada suffer from a ruptured brain aneurysm every year. Therefore, a high prevalence of intracranial aneurysms in these countries is anticipated to boost the market growth over the forecast period.

Moreover, the increasing incidence of intracranial aneurysms 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 aneurysms. Market players are taking constant efforts to introduce technologically advanced products in the market. For instance, in May 2019, Stryker received the FDA premarket approval for Neuroform Atlas Stent System for treating intracranial aneurysms. It is the second aneurysm adjunctive stent that was granted by PMA approval for treating wide-neck brain aneurysms in combination with embolic detachable coils. Such developments, therefore, are anticipated to propel the market growth over the forecast period.

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