DUBLIN--(BUSINESS WIRE)--The "Brain Aneurysm Treatment Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Condition; End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The brain aneurysm treatment market was valued at US$ 2,184.15 million in 2019 and is expected to grow at a CAGR of 14.1% from 2020 to 2027 to reach US$ 6,222.47 million by 2027.
Driving factors of the brain aneurysm treatment market are increasing prevalence of brain aneurysm and associated risk factors and rise in research and development activities. However, high cost of surgical proceduresis likely to have negative impact on the growth of the market during the forecast period.
Brain aneurysm is a development of bulge in the blood vessels of brain. This bulging puts pressure on the nerves or brain tissues. This bulge may rupture or burse and can cause brain hemorrhage, which may lead to the death of patient. Certain factors such as genetic conditions, arteriovenous malformations, untreated high blood pressure, and smoking are responsible to cause brain aneurysm. The growth of brain aneurysm treatment market is prominently attributed to the increasing prevalence of brain aneurysm across the globe.
Additionally, increasing number of diagnostic procedures associated with the brain are also expected to implicitly accelerate the growth of the market during the forecast period. According to a data published by the Brain Aneurysm Foundation in 2020, an estimated 6.5 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.
Increasing number of associated risk factors to cause brain aneurysm is also anticipated to drive the prevalence of the disease, which will eventually boost the growth of brain aneurysm treatment market during the forecast period. For instance, according to the data published by Centers of Disease Control and Prevention (CDC) in 2018, an estimated 14 out of 100 people in the US smoke cigarettes. Along with smoking and tobacco consumption, hypertension is also one of the prominent factors, which is raising the prevalence of brain aneurysm among the population. 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 aneurysm, which in turn will propel the growth of brain aneurysm treatment market from 2020-2027.
The global brain aneurysm treatment market is segmented by type, condition, and end user. The brain aneurysm treatment market, by type, is segmented into medication and surgery. The medication segment held the largest share of the market. However, surgery segment is expected to register the highest CAGR in the market during the forecast period. Based on condition, the brain aneurysm treatment market is segmented into unruptured aneurysm and ruptured aneurysm. The unruptured aneurysm held the largest share of condition segment in the global market. However, ruptured aneurysm segment is expected to grow at the faster rate during the forecast period.
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Market Dynamics
Drivers
- Increasing Prevalence of Brain Aneurysm and Associated Risk Factors
- Rise in Research and Development Activities
Restraints
- High Cost of Surgical Procedures
Opportunities
- Increasing Financial Aid to Boost the Innovation
Future Trends
- Adoption of Surgical Robots for the Treatment of Brain Aneurysm
Companies Mentioned
- Stryker Corporation
- MicroPort Scientific Corporation
- Terumo Corporation
- Mizuho Medical Co,Ltd
- Penumbra, Inc
- Medtronic
- Johnson & Johnson Services, Inc
- Kaneka Corporation
- adeor medical AG
- Evasc Medical Systems Corp
For more information about this report visit https://www.researchandmarkets.com/r/g87nzl
