Brain aneurysm is a development of bulge in brain vessels. This bulging puts pressure on the nerves or brain tissues. This bulge may rupture or burse and can cause brain hemorrhage, which can cause death of the patient. Certain factors such as genetic conditions, arteriovenous malformations, untreated high blood pressure, and smoking are responsible to cause brain aneurysm. The global brain aneurysm treatment market is driven by factors such as increasing prevalence of brain aneurysm and risk factors associated with it. Additionally, growing research and development activities in the field of brain and neurological disorders is also anticipated to drive the brain aneurysm market growth during the forecast period. However, high cost related with brain aneurysm treatment surgery is projected to obstruct the growth of the brain aneurysm treatment market during the forecast period. The developing healthcare infrastructure and extensively increasing screening tests in Asia Pacific for brain aneurysm are expected to create lucrative opportunity for the growth of the market.
The global brain aneurysm treatment market, based on the type, is segmented into medications and surgery. The medication segment held the largest share of the market in 2019. However, surgery segment is estimated to register the highest CAGR in the market during the forecast period. The growth of surgery segment is prominently attributed to effectiveness of surgeries for the treatment of brain aneurysm. The end user segment is segmented into hospitals and clinics.
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Leading companies operating in the brain aneurysm treatment market are Stryker Corporation, MicroPort Scientific Corporation, Terumo Corporation, Mizuho Medical Co, Ltd, Penumbra, Inc., Medtronic, Johnson & Johnson Services, Inc., KANEKA CORPORATION, adeor medical AG, and Evasc Medical Systems Corp among others.
Other companies in this space are also focusing on collaborative efforts to introduce new technologies and medical devices for the treatment of brain aneurysm. For instance, in December 2018, Medtronic received FDA approval for its Pipeline Flex, a permanent mesh cylinder (stent) for the treatment of brain aneurysm. Additionally, in January 2020, MicroVention, Inc. got FDA approval for its FRED (Flow Re-Direction Endoluminal Device) device for the treatment of brain aneurysms. An increasing number of such research and development activities are accelerating the growth of the market.
Several healthcare organizations and industry players are implementing constructive strategies to boost the research and development programs pertaining to the treatment of brain 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 aneurysm. The association announced the focus on utilization and adoption of artificial intelligence to identify and analyze brain aneurysms.
The report segments global brain aneurysm treatment market as follows:
Global Brain aneurysm treatment Market – By Type
Global Brain aneurysm treatment Market – By Condition
- Unruptured Aneurysm
- Ruptured Aneurysm
Global Brain aneurysm treatment Market – By End User
Global Brain Aneurysm Treatment Market– By Geography
- North America
- Asia Pacific (APAC)
- South Korea
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- South & Central America (SCAM)
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