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.
Brain Aneurysm Treatment Market Analysis
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.
Brain Aneurysm Treatment Market Overview
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
Market Size Value in US$ 2,184.15 Million in 2019 Market Size Value by US$ 6,222.47 Million by 2027 Growth rate CAGR of 14.1% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Brain Aneurysm Treatment Market: Strategic Insights
| Market Size Value in | US$ 2,184.15 Million in 2019 |
| Market Size Value by | US$ 6,222.47 Million by 2027 |
| Growth rate | CAGR of 14.1% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Brain Aneurysm Treatment Market Drivers and Opportunities
Increasing Prevalence of Brain Aneurysm and Associated Risk Factors to Favor Market
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.
Increasing Financial Aid to Boost the Innovation – An Opportunity in Brain Aneurysm Treatment
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.
Brain Aneurysm Treatment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Brain Aneurysm Treatment Market analysis are type, condition, and end user.
- Based on type, the Brain Aneurysm Treatment Market is divided into surgery and medication. The medication segment held a larger market share in 2023.
- By condition, the market is bifurcated into unruptured aneurysm and ruptured aneurysm. The unruptured aneurysm segment held the largest share of the market in 2023.
- In terms of end user, the market is bifurcated into hospitals and clinics. The hospitals segment dominated the market in 2023.
Brain Aneurysm Treatment Market Share Analysis by Geography
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.
Brain Aneurysm Treatment Market Report Scope
Brain Aneurysm Treatment Market News and Recent Developments
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 company received 510k clearance of the Target Tetra Detachable Coil. The Target Tetra Detachable Coil combines a new tetrahedral shape and softness level, specifically designed to treat small aneurysms in different parts of the body including brain. (Source: Stryker, Press Release, 2023)
- The company launched new CEREPAK Detachable Coils in the U.S. The CEREPAK Detachable Coils offer three shapes and multiple coil sizes, providing physicians with comprehensive options to embolize brain aneurysms, including coils shaped specifically to achieve concentric aneurysm filling and contribute large volumetric filling. (Source: CERENOVUS, Inc., Newsletter, 2023)
- The company received U.S.-FDA approval in April 2020 for its new brain aneurysm Embolization Coil (product name: i-ED COIL) and has been marketing it through Kaneka Medical America LLC since September 2020. By signing a sales alliance agreement with Asahi Intecc USA. Inc., Kaneka intends to further expand the sales in the U.S. market from August 2021. (Source: Kaneka Corporation, Press Release, 2021)
Brain Aneurysm Treatment Market Report Coverage and Deliverables
The “Brain Aneurysm Treatment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Condition ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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