U.S. Intracranial Aneurysm Market Size, Share, Opportunities, Trends Analysis By 2033

The U.S. intracranial aneurysm market size was exhibited at USD 294.25 million in 2023 and is projected to hit around USD 624.76 million by 2033, growing at a CAGR of 7.82% during the forecast period 2024 to 2033.

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U.S. Intracranial Aneurysm Market Key Takeaways:

• Endovascular coiling led the market with over 80.35% in 2023.
• Flow diverters are expected to experience the highest growth rate during the forecast period.
• The U.S. intracranial aneurysm devices market segmented by end-users includes hospitals, clinics, and others.
• The clinics segment is anticipated to experience significant growth from 2024 to 2033.

The U.S. intracranial aneurysm market accounted for 23.10% of the global intracranial aneurysm market in 2023. This is attributable to the increasing prevalence of brain aneurysm, rising demand for minimally invasive procedures and adoption of technologically advanced products. In addition, favorable reimbursement policies and various government initiatives are a few more factors contributing to market growth. In the U.S., approximately 30,000 people experience a brain aneurysm rupture each year, translating to one rupture every 18 minutes. The prevalence of brain aneurysms increases with age, with most cases occurring in people between 35 and 60 years old. Among those, women face a higher risk of developing brain aneurysms than men.

Introduction

The U.S. intracranial aneurysm market is projected to witness substantial growth from 2023 to 2033. This article delves into a comprehensive analysis of the market size, share, opportunities, and trends, offering valuable insights for stakeholders and industry professionals. Intracranial aneurysms, a condition characterized by the ballooning of blood vessels in the brain, pose significant health risks. The increasing prevalence of this condition, coupled with advancements in medical technology, underscores the importance of understanding market dynamics.

Market Size and Forecast

Current Market Size

As of 2023, the U.S. intracranial aneurysm market is valued at approximately USD 1.5 billion. This market valuation is attributed to the rising incidence of intracranial aneurysms, improvements in diagnostic techniques, and a growing aging population, which is more susceptible to such conditions.

Projected Growth

The market is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2033, reaching an estimated value of USD 2.9 billion by the end of the forecast period. Key drivers of this growth include increased healthcare spending, technological advancements in treatment methods, and heightened awareness about early diagnosis and treatment options.

Market Share Analysis

Segmentation by Type

1. Surgical Clipping
2. Endovascular Coiling
3. Flow Diversion Devices

Endovascular coiling holds the largest market share, accounting for over 45% of the total market. This dominance is due to its minimally invasive nature and high success rates. Flow diversion devices are gaining traction and are anticipated to witness the fastest growth rate during the forecast period.

Segmentation by End-User

1. Hospitals
2. Ambulatory Surgical Centers
3. Specialty Clinics

Hospitals dominate the market with a significant share, primarily due to the availability of advanced medical infrastructure and skilled healthcare professionals. Specialty clinics are expected to see substantial growth, driven by an increase in specialized care and treatment facilities.

Key Market Opportunities

Technological Advancements

The integration of artificial intelligence (AI) and machine learning (ML) in diagnostic imaging has revolutionized the early detection and treatment of intracranial aneurysms. AI-powered tools enhance the accuracy of imaging, allowing for precise detection and improved treatment outcomes.

Increasing Healthcare Expenditure

The rising healthcare expenditure in the U.S. is creating lucrative opportunities for market players. Increased funding for research and development (R&D) and the adoption of cutting-edge medical technologies are expected to drive market growth.

Awareness and Screening Programs

Government and non-government organizations are launching awareness and screening programs aimed at early detection and prevention of intracranial aneurysms. These initiatives are crucial in reducing the morbidity and mortality associated with the condition.

Market Trends

Minimally Invasive Procedures

The trend towards minimally invasive procedures is gaining momentum, with endovascular coiling and flow diversion becoming preferred treatment options. These procedures offer numerous benefits, including reduced recovery time, lower risk of complications, and shorter hospital stays.

Personalized Medicine

The shift towards personalized medicine is transforming the treatment landscape. By tailoring treatment plans to individual patients' genetic profiles and specific medical conditions, healthcare providers can achieve better outcomes and improved patient satisfaction.

Collaborations and Partnerships

Strategic collaborations and partnerships among market players are fostering innovation and expanding the market reach. Companies are joining forces to develop advanced treatment solutions and improve patient care.

Challenges and Restraints

High Treatment Costs

The high cost of treatment, particularly for advanced procedures and devices, remains a significant barrier. Despite insurance coverage, out-of-pocket expenses can be prohibitive for many patients.

Stringent Regulatory Approvals

The regulatory landscape for medical devices and treatments is stringent, requiring extensive clinical trials and approvals. These regulatory hurdles can delay the introduction of new products to the market.

Competitive Landscape

Major Players

• Medtronic plc
• Stryker Corporation
• MicroPort Scientific Corporation
• Johnson & Johnson Services, Inc.
• MicroVention Inc.
• B. Braun Melsungen AG
• Integra LifeSciences
• Terumo Corporation
• Delta Surgical
• Rapid Medical
• Mizuho Medical Incorporation
• Evonos GmbH & Co. KG

These companies are leading the market with their innovative products and strategic initiatives. Medtronic plc and Stryker Corporation hold significant market shares due to their extensive product portfolios and robust distribution networks.

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to com

U.S. Intracranial Aneurysm Market Recent Developments

• In July 2023, MicroVention Inc., a neurovascular company, published 5-year follow-up data for its WEB Aneurysm Embolization System and introduced two new sizes at the SNIS, San Diego.
• In May 2023, CERENOVUS, a Johnson & Johnson MedTech company, introduced the CEREPAK Detachable Coils in the U.S., aiding the intracranial aneurysm market. These innovative coils offer diverse shapes and sizes for improved brain aneurysm embolization.
• In April 2021, Medtronic received FDA approval for Pipeline Flex Embolization Device with Shield Technology, featuring surface-modified implants reducing thrombogenicity.
• In August 2020, Stryker Corporation received FDA approval for an expanded indication of its Neuroform Atlas Stent System, becoming the first and only adjunctive stent approved for use in the posterior circulation.

Future Outlook

The future of the U.S. intracranial aneurysm market looks promising, with advancements in technology and increased awareness about the condition driving growth. The market is poised to witness significant innovations, particularly in the areas of AI-driven diagnostics and minimally invasive treatment options. Companies that invest in R&D and forge strategic partnerships are likely to emerge as leaders in this dynamic market.

Conclusion

The U.S. intracranial aneurysm market is on a robust growth trajectory, driven by technological advancements, increasing healthcare expenditure, and rising awareness about early diagnosis and treatment. Stakeholders must navigate challenges such as high treatment costs and regulatory hurdles to capitalize on the opportunities in this burgeoning market. By staying at the forefront of innovation and maintaining a patient-centric approach, market players can ensure sustained growth and improved patient outcomes in the coming years.

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