Brain Aneurysm Treatment Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type ; Condition ; End User, and Geography
NEW YORK, May 7, 2020 /PRNewswire/ -- 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.
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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 marketis segmented bytype, condition, and end user.The brain aneurysm treatment market, by type, is segmented intomedication 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 treatmentmarket is segmented into unruptured aneurysm and ruptured aneurysm. The unruptured aneurysmheld the largest share of condition segment in the global market. However, ruptured aneurysmsegment is expected to grow at the faster rate during the forecast period.
Based on end user, the brain aneurysm treatmentmarket is segmented into hospitals and clinics.The hospitals held the largest share of the brain aneurysm treatmentmarket for the end user segment.
However, the clinics segment is expected to grow at the fastest rate during the coming years.
Some of the essential primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization (WHO), Organisation for Economic Co-operation and Development, The National Institutes of Health, Brain Aneurysm Foundation, and Centers for Disease Control and Prevention among others.
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