Latin America Intracranial Aneurysm Market Report and Forecast 2024-2032

Latin America Intracranial Aneurysm Market Report and Forecast 2024-2032

Latin America Intracranial Aneurysm Market Report and Forecast 2024-2032

Latin America Intracranial Aneurysm Market Size

The global intracranial aneurysm market was valued at USD 1.2 billion in 2023, with Latin America holding a significant market share. The market is driven by the growing demand for minimally invasive surgical techniques and advanced imaging technologies. It is expected to grow at a CAGR of 8.8% during the forecast period of 2024-2032, with the values likely to attain USD 2.6 billion by 2032.

Latin America Intracranial Aneurysm Market Outlook

• The estimated prevalence of unruptured intracranial aneurysms (UIAs) is reported to be 2.8% in the adult population, with Latin America comprising a significant population at risk of developing the condition. The rising incidence of intracranial aneurysm is expected to directly impact the market demand.
• One of the major Latin America intracranial aneurysm market trends is the increasing introduction of advanced medical technologies to treat and diagnose intracranial aneurysms. In April 2023, South Korea-based JLK Inc. revealed its expansion into Argentina to commercialize five of its licensed products including a brain aneurysm detection solution called JBA-01K.
• The market share is significantly influenced by the rising adoption of minimally invasive surgical techniques such as endovascular coiling and flow diversion which greatly reduce the risk of complications and improve patient outcomes.

Latin America Intracranial Aneurysm Market Analysis

Intracranial aneurysm, commonly known as cerebral or brain aneurysm, is characterized by a ballooning or bulge in a blood vessel in the brain that can put pressure on a nerve or the surrounding brain tissue. When an intracranial aneurysm ruptures, it can result in a subarachnoid hemorrhage (bleeding in the space between your brain and the membrane that covers it) which might lead to brain damage or even death. The rising adoption of minimally invasive surgical techniques (such as endovascular coiling and flow diversion) and advanced imaging methods are improving the treatment and diagnosis of the condition, which is expected to drive the Latin America intracranial aneurysm market growth.

The market is influenced by the growing number of cases of intracranial aneurysms in the region. The estimated prevalence of unruptured intracranial aneurysms (UIAs) is reported to be 2.8% in the adult population, with Latin America comprising a significant population at risk of a ruptured aneurysm associated with high rates of morbidity and mortality. Further, around 10% of brain aneurysms rupture annually, with about 20% of the individuals dying before hospitalization and nearly 30% dying within a span of 3 months. The rising incidence of the condition, attributed to factors such as the growing aging population, high blood pressure, and smoking, is expected to fuel the Latin America intracranial aneurysm market demand.

One of the major market trends is the increasing introduction of advanced medical technologies in the region to treat and diagnose intracranial aneurysms. In April 2023, JLK Inc., a South Korean artificial intelligence-based medical solutions company, revealed its expansion into the Argentina market to commercialize its medical devices portfolio. The company announced that it has received approval from the National Administration of Drugs Food and Medical Devices (ANMAT) in Argentina for five of its products including a brain aneurysm detection solution called JBA-01K. The rising entry of international players in the region to facilitate greater accessibility to innovative healthcare solutions is likely to enhance patient outcomes, ultimately boosting the market share.

Latin America Intracranial Aneurysm Market Segmentation  

The report offers a detailed analysis of the market based on the following segments:

Market Breakup by Treatment Type

• Endovascular Coiling
• Surgical Clipping
• Flow Diverters
• Other Treatment Types

Market Breakup by End User

• Hospitals
• Clinics
• Others

Market Breakup by Country

• Brazil
• Argentina
• Mexico
• Others

Leading Players in the Latin America Intracranial Aneurysm Market

The key features of the market report include patent analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Medtronic
• Stryker
• MicroPort Scientific Corporation
• Johnson & Johnson Services, Inc.
• MicroVention Inc
• Integra LifeSciences
• B. Braun Melsungen AG
• Delta Surgical
• Mizuho Medical Co. Ltd.
• Penumbra, Inc.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

FAQs

• What is the Latin America intracranial aneurysm market forecast outlook for 2024-2032?

The Latin America intracranial aneurysm market is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 8.8% during the forecast period of 2024-2032 and is likely to reach a market value of USD 2.6 billion by 2032.

• What are the major factors aiding the Latin America intracranial aneurysm market demand?

The growing demand for minimally invasive surgical techniques and advanced imaging methods is fuelling the demand for the market.

• What are the major Latin America intracranial aneurysm market trends?

One of the significant trends in the market is the rising introduction of advanced medical technologies in the region to treat and diagnose intracranial aneurysms. In April 2023, South Korea-based JLK Inc. revealed its expansion into Argentina to commercialize five of its licensed products including a brain aneurysm detection solution called JBA-01K.

• What is the market segmentation based on the treatment type?

Based on the treatment type, the market is segmented into endovascular coiling, surgical clipping, and flow diverters, among other treatment types.

• What are the major end users of the market?

End users of the market are hospitals and clinics, among other end-users.

• What is the market segmentation by countries?

The market segmentation by countries includes Brazil, Argentina, and Mexico, among others.

• Who are the key players involved in the Latin America intracranial aneurysm market?

The key players in the market are Medtronic, Stryker, MicroPort Scientific Corporation, Johnson & Johnson Services, Inc., MicroVention Inc., Integra LifeSciences, B. Braun Melsungen AG, Delta Surgical, Mizuho Medical Co. Ltd., and Penumbra, Inc.

Meta description

The Latin America intracranial aneurysm market is poised for growth, driven by the expansion of the global market, which was value at USD 1.2 billion in 2023 and is projected to grow at a CAGR of 8.8% during the forecast period of 2024-2032.

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