Intracranial Aneurysm Market Size (2024 - 2029)

Intracranial Aneurysm Market Analysis

The intracranial aneurysm market is expected to register a CAGR of 4.5% during the forecast period.

The COVID-19 pandemic severely impacted the market for intracranial aneurysms by directly affecting demand and production, disrupting the supply chain, and increasing the financial burden on firms. Brain surgeries were postponed or even canceled during this timeframe to reduce the spread of the virus. In worst-affected nations, such as the United States, Russia, India, Brazil, France, the United Kingdom, Italy, and Spain, neurosurgical operations fell by 55%. However, according to a study published in January of the base year titled "COVID-19 and Hospital: A review," up to 36% of hospitalized COVID-19 patients experienced neurological symptoms, and there were several ischemic and hemorrhagic infarctions. These findings suggested COVID-19 may enhance sales in the neurology industry. Thus, these factors created lucrative opportunities for the market to grow shortly, 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. A large percentage of the population is at risk of developing brain aneurysms due to high blood pressure and smoking. As per the WHO updates from the base year, an estimated 1.28 billion adults aged 30-79 years worldwide have hypertension, with most (two-thirds) living in low- and middle-income countries. It is estimated that this trend will continue to rise even in the forecast period and lead to intracranial aneurysms. Thus, the market is expected to experience substantial growth in the future. In addition, the global population is aging at an accelerating pace.

Moreover, according to a study published in October of the base year titled "Unruptured Cerebral Aneurysms in Elderly Patients: Key Challenges and Management," the prevalence of unruptured brain aneurysms in elderly patients was rapidly increasing in patients aged 70 years or older. According to the World Population Prospects, this year, the share of the global population aged 65 years or above is projected to rise from 10% to 16% in 2050. By 2050, the number of people aged 65 years or over worldwide is projected to be more than twice the number of children under age five and about the same as that of children under age 12. Therefore, with the increase in the elderly population, intracranial aneurysms are expected to increase. The market is expected to show better growth over the forecast period.

The increasing launches by manufacturers to meet the growing demand for innovative products are expected to drive the market's growth. For instance, in June this year, India Medtronic launched Conformité Européenne (CE) marked fourth-generation flow diverter, Pipeline Vantage with Shield Technology, for endovascular treatment of brain aneurysms. Moreover, in February 2022, Viz.ai software received United States Food and Drug Administration clearance for automatically spotting brain aneurysms. Such factors potentially drive the demand to adopt intracranial aneurysm treatments worldwide.

However, the high cost of treatment is expected to hamper the growth of the intracranial aneurysm market.

Intracranial Aneurysm Industry Segmentation

As per the scope, an intracranial aneurysm, also known as cerebral or brain aneurysm, is a bulging, weakened area in the wall of an artery in the brain, resulting in abnormal widening and ballooning. The intracranial aneurysm market is segmented by type (endovascular coiling, surgical clipping, flow diverters), end-user (hospitals, ambulatory surgical centers, and other end-users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (USD million) for the above segments.