Global Brain Aneurysm Treatment Market Expected to Grow at a CAGR of 5.4% During the Forecast Period
Brain aneurysm is an abnormal bulge in the blood vessels of the brain that can go on to cause severe health-based issues and possible even death. It causes the inner muscular layer of the blood vessel wall to weaken. After a prolonged period of time, the blood flow within the artery keeps pushing the thin wall portion and eventually ends-up rupturing it. The bleeding caused due to the ruptured brain artery is known as subarachnoid hemorrhage (SAH). The hemorrhage is so severe that it can lead to stroke, coma, or even death. Various factors contribute to its occurrence, including injury or trauma, cigarette smoking, blood infections, and others. Individuals suffering from this condition of brain aneurysm can be diagnoses through multiple means or techniques, including cerebral angiogram, Computed Tomography (CT) scan, Magnetic Resonance Angiography (MRA), Computed Tomography Angiogram (CTA) scan, and many others. The global brain aneurysm treatment market is expected to grow at a compound annual rate of 5.4% during the forecast period between 2017 and 2023.
Market Research Future (MRFR) asserts in its report that the global market is influenced by various key factors. This includes, the increasing and widespread prevalence of brain aneurysms, rising occurrence of high blood pressure, rapid advancements in surgical techniques, and increasing funding by the government and related bodies in the healthcare sector. Also, the presence of brain aneurysm in the family is another key driver of the market.
However, issues like high management cost of aneurysmal subarachnoid hemorrhage and unknown symptoms of unruptured brain aneurysm can hamper the overall growth of the market.
Market Segmentation
The brain aneurysm treatment market segmentation is based in terms of condition, type, and end-user.
By type, the market divides into medication and surgery.
The surgery segment narrows down further into endovascular coiling, surgical clipping, flow diverter, and others. The flow diverter segment breaks down into silk flow diverter (SILK), pipeline embolization device, and surpass flow diverter (SURPASS).
The medication segment comprises calcium channel blockers, anti-seizure medications, antacids, antiemetics, analgesics, antihypertensives, stool softeners, and others.
By end-user, the market includes clinics, hospital, and others.
By condition, the market divides into ruptured and unruptured aneurysm.
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Regional Analysis
The global brain aneurysm treatment market is geographically segmented into major regions like Asia Pacific, Europe, the Americas, and the Middle East & Africa.
The Americas hold the dominant share of the global aneurysm treatment market and is expected to grow significantly in the forthcoming years. The growth of the region is attributed to the increasing prevalence of brain aneurysm.
The European region holds the second largest share of the market for brain aneurysm. The region’s growth is proliferated by the support provided by the government for research and development and for the improvement of reimbursement policies in healthcare. Also, cerebrovascular conditions are also seemingly prevalent in this region, which is also aiding the growth herein.
The Asia Pacific region is positioned as one of the key players in the global brain aneurysm treatment landscape. It is expected to hold the potential to be the fastest growing region among the mentioned names. The surging growth and expansion of the region can be owed to the massive patient population and the ameliorating healthcare technology.
The Middle East & Africa regions holds the least share in the brain aneurysm treatment market owing to the lack of proper availability of medical facilities. However, the decent growth market in this region is driven by some of the most advancing countries in the Middle East, including Saudi Arabia, the UAE, and Kuwait. While, the African region is expected to garner moderate growth rate.
Competitive Landscape
The global brain aneurysm treatment market includes a number of key players, including Sophysa Ltd., Codman & Shurtleff, Inc., Medtronic Plc., Orsan Medical Technologies, Head Sense Medical, InfraScan, Inc., MicroPort Scientific Corporation, Raumedic AG, HaiWeiKang, Johnson & Johnson, Spiegelberg GmbH, Vittamed, and others.
April 2nd, 2019, an all-new and approved treatment device to fight against brain aneurysms was available in Toledo. With an estimated 6 million people in the United States suffering from unruptured brain aneurysms, this development will be of great advantage.
April 16th, 2019, Stryker, a medical technology company, announced the introduction of the next generation Surpass Evolve Flow Diverter to treat and cure brain aneurysms.
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