Global Intracranial Aneurysm Market is expected to grow at a CAGR of 8.8% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Intracranial Aneurysm Market by Type (Flow Diverters, Endovascular Coiling, Surgical Clipping), End-Use (Clinics, Hospitals), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global intracranial aneurysm market is expected to grow from USD 0.97 billion in 2019 to USD 1.90 billion by 2027, at a CAGR of 8.8% during the forecast period 2020-2027. North America has the largest share in intracranial aneurysm market. It is due to a high prevalence of stroke and hypertension, rise in geriatric population and well-established healthcare facilities in this region. Moreover, growing need for minimally invasive treatments is driving the growth of the market.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the intracranial aneurysm market are Microport Scientific Corporation, B. Braun Melsungen AG, DePuy Synthes, adeor medical AG and Medtronic. Key players are focusing more on growth strategies, product launches, technological innovations and advancements. To treat wide-necked intracranial aneurysms, U.S. FDA gave an approval for Pipeline Flex Embolization Device to Medtronic.
The type segment includes flow diverters, endovascular coiling and surgical clipping. Surgical clipping segment is expected to show the highest growth over the forecast period. The rate of adoption of surgical clipping is increased due to its cost-effectiveness. Embolization coils have a higher risk of bleeding or rupture. But, in the long term, surgical clipping provides a higher chance of survival. The end-use segment includes clinics and hospitals. Hospitals has the largest market share in the intracranial aneurysm. It is due to technological innovations and advancements in the required equipment in intensive care units and operation theatres. Also, rise in investments by the government as well as increased hospitals are driving the market.
Intracranial aneurysm is a fatal as well as critical disorder. To diagnose intracranial aneurysm, computed tomography scan, cerebral angiography and magnetic resonance angiography are used. It can also cause hemorrhagic stroke. Lifestyle diseases such as obesity, excessive alcoholism, smoking and hypertension result in intracranial aneurysm. Increased number of patients having lifestyle diseases along with injury to blood cells or trauma are driving factors for the growth of the intracranial aneurysm market. Heredity factor, technological advancements to treat and diagnose aneurysm, as well as significant developments, are driving the growth of the intracranial aneurysm market.
About the report:
The global intracranial aneurysm market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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