The Brain Aneurysm Treatment Market size is projected to reach US$ 11.06 billion by 2031 from US$ 3.18 billion in 2022. The market is expected to register a CAGR of 15.0% in 2023–2031. The adoption of surgical robots for brain aneurysm treatment procedures is likely to remain a key Brain Aneurysm Treatment Market trend.
Several research organizations and companies are implementing constructive strategies to boost the research and development programs for treating brain aneurysms. In July 2022, researchers in Halifax created the ultrahigh-resolution ultrasound endoscope for surgeries. This endoscope functions by inserting a probe to visualize all the arteries. In addition, the product will allow surgeons to clip aneurysms and find all those arterial branches with greater confidence. Furthermore, the development of plastic clips allows post-surgical checkups via magnetic resonance imaging (MRI) and computed tomography (CT) scans, which is impossible when metal clips are in use. The technology was developed with the aid of the European Union's Eureka Eurostars program, which funded US$ 1.23 million for R&D. Several companies in this space also focus on collaborative efforts to introduce new technologies and novel products for treating brain aneurysms.
The market is expected to experience a significant growth rate owing to various factors such as increasing prevalence of brain aneurysms, technological advancement, new product development and launches, and surging awareness. There are various market players that have developed MRI-friendly aneurysm clips with medical-grade plastic which simplifies the post-procedure checkups. The increasing prevalence of hypertension, the aging population, and smoking are contributing factors to the brain aneurysm. Moreover, increasing investment and R&D activities followed by the surge in the adoption of surgical robots are expected to anticipate market growth during the forecast period.
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Brain Aneurysm Treatment Market: Strategic Insights
The growth of the brain aneurysm treatment market is prominently attributed to the increasing prevalence of brain aneurysms across the globe. Additionally, an increasing number of diagnostic procedures associated with the brain are also expected to implicitly accelerate the market's growth during the forecast period. According to data published by the Brain Aneurysm Foundation in 2023, an estimated 6.8 million people in the US are suffering from unruptured brain aneurysm, which accounts for around 1 in 50 people. Additionally, an estimated 500,000 deaths are caused due to brain aneurysms across the globe each year. Additionally, around 50.0% of ruptures are fatal and need intensive care and attention.
As the symptoms of brain aneurysm are very complex to identify, an estimated one in five patients are not aware of the symptoms of the disease. This is a major factor causing a significant number of deaths worldwide. To improve the diagnosis and treatment of brain aneurysm, several government authorities and organizations are offering financial aid and research platforms for researchers across the world. For instance, in 2021, Oxford Endovascular raised US$ 10 million for the completion of development work and first-in-human data through clinical trials. Such increasing financial aid for the treatment of brain aneurysm is projected to fuel the growth of the market.
Key segments that contributed to the derivation of the Brain Aneurysm Treatment Market analysis are type, condition, and end user.
The geographic scope of the Brain Aneurysm Treatment Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the Brain Aneurysm Treatment Market owing to the increasing incidences of the neurological disorders such as stroke, brain aneurysms, and others across the country. Moreover, the growth of market in Canada is expected to grow due to increasing support from the government to address the rising concerns about brain diseases. In addition, across the Mexico the market is estimated to grow due to the increasing medical industries and increasing export of medical devices to US and other countries. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Brain Aneurysm Treatment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Brain Aneurysm Treatment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 3.18 Billion |
| Market Size by 2031 | US$ 11.06 Billion |
| Global CAGR (2023 - 2031) | 15.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Brain Aneurysm Treatment Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Brain Aneurysm Treatment Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Brain Aneurysm Treatment Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for brain aneurysm treatment and strategies:
The “Brain Aneurysm Treatment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: