The Intracranial Aneurysm Market is expected to register a CAGR of 8% during the forecast period. This is attributing to the increasing demand for minimally invasive procedures, rising prevalence of brain aneurysm, technological advancements. An intracranial aneurysm occurs in an artery located in the brain and helps in delivering oxygen-rich blood to the tissues. The factors which contribute to cerebral disorders are smoking, hypertension, any injury to the blood vessels and genetic predisposition. With the growing number of cerebrovascular disorders and an increasing number of patients suffering from hypertension, trauma and injuries are some more factors promoting the growth of the market. As per the World Health Organization (WHO) an estimate of 1.13 billion populations have experience hypertension. These will be leading to a high chance of intracranial aneurysm and further promotes the revenue growth of the overall market. Furthermore, the rising prevalence of intracranial aneurysm in developed and developing countries is also fueling the market. For instance, as per the report published by Brain Aneurysm Foundation, intracranial rupture 8 to 10 per 100,000 individuals in the United States. However, the high cost of treatment associated with the treatment may hamper the market.
Key Market Trends
Endovascular Coiling in Intracranial Aneurysm Market is Estimated to Witness a Healthy Growth in Future.
Endovascular Coiling is estimated to witness healthy growth in the future. This is a minimally invasive technique wherein a catheter is being used to treat the brain aneurysm by preventing blood from getting into arteries. Benefits associated with this procedure such as easy access to the vertebrobasilar system and multiple aneurysms in distant areas and shorter recovery time compared to other procedures results in propelling the segment growth.
In addition, the growing number of strokes worldwide will have a high chance of rupturing blood vessels and lead to the intracranial aneurysm and thus promotes revenue growth of the market.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global Intracranial Aneurysm Market due to the increasing aging population, increasing prevalence of intracranial aneurysm, rising demand for minimally invasive procedures and rising incidences of hypertension and stroke. As per a report published by Neuro Intervention India in 2017 around 6 million people in the United States have experienced unruptured intracranial aneurism, adding to this it also states the geriatric population are more prone to have this disorder. Furthermore, increasing healthcare expenditure and the presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Intracranial Aneurysm Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Stryker, B. Braun Melsungen AG, MicroPort Scientific Corporation, Medtronic, Terumo Corporation, Integra LifeSciences Corporation, Johnson & Johnson, and RAUMEDIC AG
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