According to The Insight Partners market research study of Brain Aneurysm Treatment Market Forecast to 2027 – Covid-19 Impact and Global Analysis by Type, Condition, and End User. The global brain aneurysm treatment market is expected to reach US$ 6,222.47 Mn in 2027 from US$ 2,184.15 Mn in 2019. The market is estimated to grow with a CAGR of 14.1% from 2020-2027. The report provides trends prevailing in the global brain aneurysm treatment market and the factors driving market along with those that act as restraints.
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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.
The brain aneurysm treatment market for is expected to grow, owing to factors such as increasing prevalence of brain aneurysm and associated risk factors and rise in research and development activities are likely to have a positive impact on the growth of the market in coming years.
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.
Rise in Research and Development Activities
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.
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.
The report segments global brain aneurysm treatment market as follows:
Global Brain aneurysm treatment Market – By Type
Global Brain aneurysm treatment Market – By Condition
Global Brain aneurysm treatment Market – By End User
Global Brain Aneurysm Treatment Market– By Geography