Intracranial Hemorrhage Devices- Market Insights, Competitive Landscape and Market Forecast–2027

Intracranial Hemorrhage Devices- Market Insights, Competitive Landscape and Market Forecast–2027

Intracranial Hemorrhage (ICH) Devices Market By Product Type (Diagnosis [Neuroendoscopes, Ct, Mri, Others], Treatment [Embolization Devices, Intracranial Stents, Balloon Occlusion Devices, Neurothrombectomy Devices, Others]), By End-User (Hospitals, Ambulatory Surgical Centers, Others), by geography is expected to grow at a steady CAGR forecast till 2027 owing to rising cases of brain disorders and growing geriatric population

Global Intracranial Hemorrhage (ICH) Devices Market was valued at USD 1.59 Billion in 2021, growing at a CAGR of 6.65% during the forecast period from 2022 to 2027 to reach USD 2.35 Billion by 2027. The increase in demand for Intracranial Hemorrhage (ICH) Devices is primarily attributed to the rising cases of brain disorders such as Stroke, Cerebral/Brain Aneurysm, the growing burden of the old age population suffering from brain disorders, shifting focus towards the development of technologically advanced ICH Devices, thereby contributing to the growth of the Intracranial Hemorrhage (ICH) Devices market during the forecast period from 2022-2027.

Intracranial Hemorrhage (ICH) Devices Market Dynamics:

The Intracranial Hemorrhage (ICH) Devices market is witnessing a growth in product demand owing to various reasons. The major reason responsible for product demand is due to the rising burden of the patient population suffering from brain disorders such as Stroke, Cerebral/Brain Aneurysm, Intracranial Stenosis, among others across the globe is expected to fuel the demand for Intracranial hemorrhage (ICH) Devices as these devices are used to treat various conditions and diseases of the brain using minimally invasive neurosurgical techniques.

For instance, according to the statistics of Brain Aneurysm Foundation 2020, there are almost 500,000 deaths worldwide each year caused by brain aneurysms, and half the victims are younger than 50, and women, particularly those over the age of 55, have a higher risk of brain aneurysm rupture than men (about 1.5 times the risk).

As per the same study, an estimated 6.5 million people in the United States have an un-ruptured brain aneurysm.

Moreover, according to the World Stroke Organization 2022, globally 1 in 4 adults over the age of 25 will have a stroke in their lifetime. 13.7 million people worldwide will have their first stroke each year and five and a half million will die as a result. Also, as per the same statistics, stroke is the leading cause of death and disability globally with 116 Million years of healthy life lost each year to the disease.

Thus, the rising prevalence of the target population is anticipated to raise the demand for brain surgeries thereby increasing the demand for Intracranial hemorrhage (ICH) Devices during the forecasted period.

Therefore, with proper monitoring, these defects can be prevented by undergoing proper care and medication. Hence, the growth of the Intracranial hemorrhage (ICH) Devices Market is expected to rise during the forecast period from 2022 to 2027.

However, the risk involved with Intracranial Hemorrhage (ICH) Devices and the high cost of equipment and surgeries may be certain limiting factors of the Intracranial Hemorrhage (ICH) Devices market growth.

The market witnessed a COVID-19 outbreak which impacted the use of Intracranial hemorrhage (ICH) Devices. Intracerebral hemorrhage is a very rare but well-documented complication of COVID-19. Stroke has been seen as a manifestation of COVID-19 in various studies showing that 0.9% to 23% of COVID-19 patients developed brain stroke. COVID-19 patients have a prothrombotic state which means they tend for the blood to thicken or become sticky which blocks the blood vessels supplying the brain; the blood supply of a particular part of the brain is cut off resulting in stroke symptoms. This resulted in the increased demand for Intracranial hemorrhage (ICH) Devices.

Intracranial Hemorrhage (ICH) Devices Market Segment Analysis:

Intracranial Hemorrhage (ICH) Devices Market By Product Type (Diagnosis [Neuroendoscopes, CT, MRI, Others], Treatment [Embolization Devices, Intracranial Stents, Balloon Occlusion Devices, Neurothrombectomy Devices, Others]), By End-User (Hospitals, Ambulatory Surgical Centers, Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the Product Type segment of the Intracranial Hemorrhage (ICH) Devices market, the Neuroendoscopes are estimated to hold a higher share in the Intracranial Hemorrhage (ICH) Devices market during the forecast period (2022-2027). This can be ascribed to the various advantages that are associated with these devices for the monitoring of the brain. These devices are minimally invasive techniques and help surgeons to reach tumors and other problematic areas inside the brain, previously considered inoperable due to their position inside the skull.

Moreover, since neuroendoscopy may be performed through natural body openings, such as the nose, it prevents the need for large incisions. Advantageous properties such as these endoscopes have a light and camera on the end, which helps in better visualization inside the brain for the surgery.

Moreover, the research and development activities in this arena will in turn drive the product demand in the market. For instance, in a clinical study, surgeons attached a fully charged smartphone to the front of a neuroendoscope, this provided visualization of the surgical field for use in minimally invasive neurosurgery.

Therefore, the advantages offered by the Neuroendoscopes such as minimal invasiveness, lower blood loss, and shorter surgical time in Intracranial hemorrhage surgeries are predicted to contribute to the increasing demand of the Intracranial hemorrhage (ICH) Devices market.

North America is expected to dominate the overall Intracranial Hemorrhage (ICH) Devices Market:

Among all the regions, North America is expected to account for the largest share in the global Intracranial Hemorrhage (ICH) Devices market. Factors such as the rising cases of brain disorders such as stroke, cerebral/brain aneurysm, rising incidences of intracranial hemorrhage are expected to aid in the growth of the North America Intracranial hemorrhage (ICH) Devices Market.

As per the Brain Aneurysm Foundation 2020, about 30,000 people in the United States suffer a brain aneurysm rupture each year. A brain aneurysm ruptures every 18 minutes. African-Americans and Hispanics are about twice as likely to have a brain aneurysm rupture compared to whites.

Moreover, the rising product approvals and new technologies such as the integration of AI in these devices in the country will boost the growth of the market.

For instance, in November 2021, FUJIFILM Healthcare Americas Corporation’s REiLI® Artificial Intelligence Platform was used for clinical purposes for intracranial hemorrhage.

Therefore, the rising prevalence of these defects in the country would result in the rising demand for treatments that make use of Intracranial hemorrhage (ICH) Devices, which in turn would provide a conducive growth environment for the United States Intracranial hemorrhage (ICH) Devices market as well as the North American region.

Therefore, the interplay of various factors such as the presence of a large patient population, encouraging reimbursement policies as well as new product launches in the region is expected to boost the North America Intracranial hemorrhage (ICH) Devices market during the forecast period.

Intracranial Hemorrhage (ICH) Devices Market Key Players:

Some of the key market players operating in the Intracranial Hemorrhage (ICH) Devices market include ClearMind Biomedical Inc., Medtronic, Stryker, InfraScan, Inc., MicroPort Scientific Corporation, Penumbra, Inc., Acandis GmbH, Cerenovus (Johnson & Johnson Services, Inc.), MicroVention Inc. (Terumo Corporation), Invamed, B. Braun Melsungen AG, adeor medical AG, SCHINDLER Endoskopie Technologie, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, Kaneka Medix Corporation, Hyperfine, General Electric Company, phenox GmbH, Perflow Medical Ltd., among others.

Recent Developmental Activities in the Intracranial Hemorrhage (ICH) Devices Market:

• In February 2022, the FDA granted expanded indication to Infrascanner, a handheld device used for detecting traumatic supratentorial hematomas in adults, to include pediatric patients aged 2 years and older.
• In May 2019, Stryker announced the Premarket Approval (PMA) of the Neuroform Atlas Stent System by the U.S. Food and Drug Administration (FDA).

Key Takeaways from the Intracranial Hemorrhage (ICH) Devices Market Report Study

• Market size analysis for current Intracranial Hemorrhage (ICH) Devices market size (2020), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Intracranial Hemorrhage (ICH) Devices market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global Intracranial Hemorrhage (ICH) Devices market.
• Various opportunities available for the other competitor in the Intracranial Hemorrhage (ICH) Devices market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current Intracranial Hemorrhage (ICH) Devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Intracranial Hemorrhage (ICH) Devices market growth in the coming future?

Target Audience who can be benefited from this Intracranial Hemorrhage (ICH) Devices Market Report Study

• Intracranial Hemorrhage (ICH) Devices products providers
• Research organizations and consulting companies
• Intracranial Hemorrhage (ICH) Devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Intracranial Hemorrhage (ICH) Devices
• Various End-users who want to know more about the Intracranial Hemorrhage (ICH) Devices market and latest technological developments in the Intracranial Hemorrhage (ICH) Devices market.

Frequently Asked Questions For Intracranial Hemorrhage (ICH) Devices Market:

1. What are Intracranial Hemorrhage (ICH) Devices?

Intracranial hemorrhage encompasses four broad types of hemorrhage: epidural hemorrhage, subdural hemorrhage, subarachnoid hemorrhage, and intraparenchymal hemorrhage and ICH devices are medical devices used to diagnose and treat these dir=sorders.

2. What is the market for Global Intracranial Hemorrhage (ICH) Devices?

Global Intracranial Hemorrhage (ICH) Devices Market was valued at USD 1.5 Billion in 2021, growing at a CAGR of 6.65% during the forecast period from 2022 to 2027 to reach USD 2.35 Billion by 2027.

3. What are the drivers for the Global Intracranial Hemorrhage (ICH) Devices Market?

The Intracranial Hemorrhage (ICH) Devices market is witnessing a positive market growth owing to the rising cases of brain disorders such as Stroke, Cerebral/Brain Aneurysm, the growing burden of the old age population suffering from brain disorders, shifting focus towards the development of technologically advanced ICH Devices are anticipated to bolster the market.

4. Who are the key players operating in the Global Intracranial Hemorrhage (ICH) Devices Market?

Some of the key market players operating in the Intracranial Hemorrhage (ICH) Devices market include ClearMind Biomedical Inc., Medtronic, Stryker, InfraScan, Inc., MicroPort Scientific Corporation, Penumbra, Inc., Acandis GmbH, Cerenovus (Johnson & Johnson Services, Inc.), MicroVention Inc. (Terumo Corporation), Invamed, B. Braun Melsungen AG, adeor medical AG, SCHINDLER Endoskopie Technologie, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, Kaneka Medix Corporation, Hyperfine, General Electric Company, phenox GmbH, Perflow Medical Ltd. and others.

5. Which region has the highest share in Intracranial Hemorrhage (ICH) Devices Market?

North America is expected to hold the highest share in the revenue in the Intracranial Hemorrhage (ICH) Devices market during the forecast period. Factors such as the rising cases of brain disorders such as stroke, cerebral/brain aneurysm, rising incidences of intracranial hemorrhage are expected to aid in the growth of the North America Intracranial Hemorrhage (ICH) Devices Market in this region.

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