Brain Aneurysm Treatment Market Rise in Research and Development Activities

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.

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.

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Brain Aneurysm Treatment Market Competitive Landscape and Key Development

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.

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.

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.

Brain Aneurysm Treatment Market: Segmental Overview

Based on condition, the brain aneurysm treatment market is segmented into unruptured aneurysm and ruptured aneurysm. The unruptured aneurysm held the largest share of disease segment in the global market. However, ruptured aneurysm is expected to grow at the faster rate during the forecast period. Increasing prevalence of ruptured aneurysm is projected to drive the ruptured aneurysm segment growth during the forecast period.

Based on end user, the brain aneurysm treatment market is segmented into hospitals and clinics. The hospitals held the largest share of end user segment in the global market. However, clinics segment is expected to grow at the fastest rate during the forecast period.

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