The "Global Intracranial Aneurysm Market" is predicted to reach at a high CAGR of 8.9% during the forecast period (2022-2029).
A cerebral or intracranial aneurysm is an abnormal focal dilation of an artery that results from a weakening of the inner muscular layer (the intima) of the blood vessel wall. The vessel develops a "blister-like" dilation that can become thin and rupture without warning. The resultant bleeding into the space around the brain is called a subarachnoid hemorrhage (SAH). This kind of hemorrhage can lead to a stroke, coma and/or death.
The factors favoring the growth of the intracranial aneurysm market includes the world's aging population, sedentary and busy lifestyles, increased funding and grant on research. The market is growing due to developing healthcare infrastructure and extensively increasing screening tests. The high cost related to brain aneurysm treatment surgery is projected to obstruct the growth of the brain aneurysm treatment market during the forecast period.
The intracranial aneurysm market growth is driven by the rising number of risk factors leading to the problem such as family history, autosomal dominant PCKD, co-arctation of the aorta, bicuspid aortic valve, Ehlers-Danlos syndrome type IV, smoking, and hypertension. In a survey, it is proven that around 80 percent of intracranial aneurysm cases were smokers in the past.
Increasing research and development for intracranial aneurysm
The intracranial aneurysm market is expected to grow significantly over the forecast period due to growing research and development programs pertaining to the treatment of an intracranial aneurysm. For instance, in August 2019, Fujitsu Australia, Macquarie Medical Imaging, Macquarie University, and GE Healthcare announced a new research collaboration to find advanced techniques to improve the diagnosis of brain aneurysms. The association announced the focus on the utilization and adoption of artificial intelligence to identify and analyze brain aneurysms.
Costs of both clipping and coiling have increased from 2001 to 2008. The median 2008 hospital costs were $23,574 (IQR, $18,233-$29,941) for clipping and $25,734 (IQR, $17,436-$35,846) for coiling without complications, which were higher than the average Medicare payment of $12,599. The median hospital costs were $36,188 (IQR, $21,831-$55,308) for clipping and $40,502 (IQR, $24,289-$50,108) for coiling treatments complicated by major morbidity and $68,165 (IQR, $32,972-$100,211) for clipping and $56,020 for coiling treatments complicated by mortality, which were higher than the average Medicare payment for patients with major complications and comorbidities of $22,946. In multivariate analysis, female sex was associated with higher costs for coiling (P = .02), and poor discharge status was associated with higher costs for both clipping (P < .001) and coiling (P < .001).
Hospitalization costs for patients undergoing clipping and coiling of unruptured cerebral aneurysms are substantially higher than Medicare payments.
COVID-19 Impact Analysis
COVID-19 pandemic has a considerable impact on the life of the whole of humanity and in several aspects. Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
By type, the intracranial aneurysm market is divided into medication and surgery. The surgery segment has been sub-segmented into endovascular coiling, flow diverters, surgical clipping, and others. The medication segment has been sub-segmented into analgesics, antiemetics, anti-seizure medications, calcium channel blockers, antacids, and others.
The surgery segment is expected to register the highest CAGR in the market during the forecast period.
Though medication held the largest share of the market. According to World Health Organization (WHO) in 2019, an estimated 1.13 billion population was suffering from hypertension across the globe. Such massive epidemics of hypertension are likely to increase the cases of brain aneurysms, which in turn will propel the growth of the brain aneurysm treatment market from 2020-2028.
Intracranial Aneurysm Market Share, By Type, 2020
Source: DataM Intelligence Analysis (2020)
On the basis of end-use, it is segmented into hospitals and clinics.
Hospitals held the largest share of the End-Use segment in the global market.
The hospital segment is projected to show the highest growth over the forecast period as the procedures are complicated and critical. Also, durable and high-quality equipment is available in hospitals. Hospitals are beneficial in handling complications after operations as hospitals are better equipped. The hospital segment dominated the overall market with a share of 88.95% in 2020 and is expected to expand at the highest CAGR from 2021 to 2028
Source: DataM Intelligence Analysis (2020)
Based on geography, the brain aneurysm treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The Asia Pacific is expected to hold the largest market share in the intracranial aneurysm market over the forecast period
The Asia Pacific is expected to show the highest growth over the forecast period due to its large population, rise in prevalence of hypertension, increased lifestyle stress and geriatric problems. Also increased affordability, enhanced quality of diagnosis and rapidly growing market. Asia Pacific is expected to expand at the highest CAGR of 12.8% from 2021 to 2028
Manufacturers in the market are focussing on the innovation of new medical devices, growth strategies and technological developments. These key developments are anticipated to boost the growth of the intracranial aneurysm market over the forecast period. Some of the key players contributing to the growth of the market are Raumedic AG, DePuy Synthes, Integra Life Sciences Corporation, Orsan Medical Technologies, Spiegelberg GmbH, MicroPort Scientific Corporation, Medtronic Plc., Codman & Shurtleff, Inc, Johnson and Johnson Services Inc.
Johnson and Johnson Services Inc.
Overview: Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Johnson & Johnson Services Inc. offers consumer healthcare products.
Product Portfolio: ORBIT GALAXY includes the complete range of stretch-resistant Frame, Fill and XTRASOFT™ Finishing coils required to treat aneurysms. The new coils feature a unique, complex random loop design. This shape makes the coils highly conformable and enables them to seek and fill open spaces in cerebral aneurysms to achieve high packing densities, which have been correlated with low patient retreatment rates
Key Development: In October 2017, Johnson and Johnson completed the divestiture of its Codman Neurosurgery business segment to Integra LifeSciences Holding Corporation. As a result, Johnson and Johnson focus majorly on its new business unit CERENOVUS (launched in June 2017), which is involved in developing devices used for the treatment of stroke and cerebral aneurysm.
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