The latest published report by Polaris Market Research The report “Intracranial Aneurysm Market Share, Size, Trends, Industry Analysis Report, By Type (Surgical Clipping, Endovascular Coiling, Flow Diverters, Others), By End-Use (Hospitals, Clinics, Others); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global intracranial aneurysm market was valued at USD 1.12 billion in 2020 and is s expected to reach USD 2.32 billion by 2028 to grow at a CAGR of 9.9% during the forecast period [2021 – 2028] . Market factors favoring the market growth for intracranial aneurysm include the world’s aging population, rising prevalence of intracranial aneurysms, sedentary and busy lifestyles, increased funding, and grant on research and innovation. There is a continuous rise in cases of un-ruptured intracranial aneurysms among geriatrics.
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Market participants in the intracranial aneurysm industry include MicroVention Inc. (Terumo Corporation), B. Braun, Stryker, Medtronic, Johnson and Johnson Services Inc., Microport Scientific Corporation, and Codman Neuro (Integra Lifesciences).
As per market statistics published by the World Ageing (WA), in 2019, there are around 700 million people aged more than 65, across the globe. This large section of the population is largely contributing to the market growth. As per the estimates of the BAF, in the U.S. alone, every year around 30,000 people live with brain aneurysms. In Canada, BAF reported there are on average each year, around 3,150 people live with intracranial aneurysms.
There are several risk factors for acquiring intracranial aneurysms in the market such as family history, autosomal dominant PCKD, co-arctation of the aorta, bicuspid aortic valve, Ehlers-Danlos syndrome type IV, smoking, and hypertension. In a survey, it is proven that around 80 percent of intracranial aneurysm cases were smokers in the past.
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According to the market estimates of the Center for disease control and prevention, each year around 480,000 smokers die, and in 2018, it was reported that in the U.S. alone it had 34.2 million smokers and around 16 million U.S. people were suffering smoke-related disorders. Moreover, as per a survey by Headway, in 2016-17, in the UK approximately 348,453 people were admitted to healthcare facilities with some kind of brain-related disorder.
Regional Insights :
North America is projected to account for the largest market share in the intracranial aneurysm market. The growing prevalence of intracranial aneurysms, the rising aging population, and the increasing demand for minimally invasive procedures are some of the key factors that contribute to the regional market growth. In addition to this, increasing incidences of stroke and hypertension coupled with better healthcare facilities are some other factors positively impacting the regional market. The regional market of Asia Pacific is anticipated to grow exponentially on account of rising cases of target disease and increasing patient affordability. The Asia Pacific market for intracranial aneurysm is anticipated to register a lucrative growth rate over the assessment period. The rising cases of brain aneurysms in the two most populous countries India and China increased the affordability of people in the emerging Asian countries.
Each year around 76,500 to 204,100 cases of subarachnoid hemorrhage (SAH) occur in India. The cost of medical treatment of intracranial aneurysms in India stood at around USD 7,000, while the average treatment cost in western nations is three times, at about USD 20,000.
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Polaris Market research has segmented the intracranial aneurysm market report on the basis of type, end use, and region:
Intracranial Aneurysm, Type Outlook (Revenue – USD Million, 2016 – 2028)
- Surgical Clipping
- Endovascular Coiling
- Flow Diverters
Intracranial Aneurysm, End-Use Outlook (Revenue – USD Million, 2016 – 2028)
Intracranial Aneurysm, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
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