Flow Diverters Market By Type (Pipeline embolization device, Silk flow diverter, Surpass flow diverter, Flow redirection endoluminal device, Others), By Application (Cerebral aneurysms, Multiple Intracranial Aneurysms, Others), By End User (Hospital and clinics, Ambulatory surgical center): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global flow diverters market was valued at $251.4 million in 2021, and is projected to reach $1,041.9 million by 2031, registering a CAGR of 15.3% from 2022 to 2031. A cerebral or intracranial aneurysm is an abnormal focal dilation of an artery in the brain that results from a weakening of the inner muscular layer (the intima) of a blood vessel wall. For the treatment of cerebral aneurysms, flow diverters such as the surpass flow diverter, silk flow diverter, and pipeline embolization device. have been created. Instead of being implanted in the aneurysm sac, these endovascular devices are put inside the parent artery. They take advantage of altered hemodynamics at the aneurysm/parent vascular junction, which over time causes a progressive thrombosis of the aneurysm. The parent artery lumen is usually preserved together with perforators and side branches as a result of the subsequent inflammatory reaction, healing, and endothelial development that shrinks the aneurysm. Wide neck and massive aneurysms, which were previously incurable, can be treated by flow diverters.
The flow diverters market is driven by increase in the prevalence of cerebral or brain aneurysm, and rise in the prevalence of hypertension. Moreover, rise in the number of product launches and product approvals for flow diverters is anticipated to fuel the growth of flow diverters market. For instance, in August 2020, in the U.S., Stryker Corporation, medical equipment manufacturing company, announced the launch of Surpass Evolve Flow Diverter. It is a 64-wire cobalt chromium flow diverter designed for the treatment of unruptured giant and large wide-neck cerebral aneurysms. This approval is likely to help the company expand its neurovascular unit as well as its geographical presence. In addition, flow diverters are used to treat cerebral aneurysm, thus rise in the prevalence of cerebral aneurysm is anticipated to fuel the growth of the market. For instance, according to national institute of Neurological Disorders and Stroke, it was reported that, all cerebral aneurysms have the potential to rupture and cause bleeding within the brain or surrounding area. Approximately 30,000 Americans per year suffer a brain aneurysm rupture. Moreover, rise in the adoption of key strategies such as collaboration, acquisition, partnership and agreement by key players of flow diverters anticipated to fuel the growth of the market. In addition, technological advancement in the healthcare sector and increasing medical tourism are anticipated to drive the growth of flow diverters market. Moreover, rise in the awareness among the people regarding minimally invasive surgeries and increase in the disposable income among people in developing countries are anticipated to boost the growth of flow diverters market.
Geriatric population is more susceptible to orthopedic disorders, diabetes and fall injuries. These diseases causes rise in prevalence of pain. Thus, rise in number of geriatric populations increases the demand of flow diverters for treatment of cerebral aneurysm. Thus, this factor contributes to drive the growth of flow diverters market. In addition, Governments globally have increased the expenditure on the healthcare sector. For instance, according to the Centers for Medicare & Medicaid Services, the U.S. health care spending grew by 9.7% from 2019 to 2020, reaching $4.1 trillion ($12,530 per person). Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.8% of the gross domestic product (GDP) in 2020, compared to 10.2% in 2019. Furthermore, it has been estimated that approximately 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure, especially medical equipment used at public health centers (hospitals). Hence, this rise in healthcare expenditure across the globe is expected to fuel the demand for in flow diverters application in different disease treatment, thereby boosting the market growth.
On the other hand, the side effects associated with flow diverters and high cost of flow diverters are anticipated to restrain the growth of the flow diverters market.
The global flow diverters market is segmented on the basis of type, application, end user and region. On the basis of type, the market is divided into pipeline embolization device, silk flow diverter, surpass flow diverter, flow redirection endoluminal device and others. Others include electrical muscle stimulation, silk flow diverter and interferential current therapy (IC) P64, Silk & PED, PED & FRED. On the basis of application, market is classified into cerebral aneurysms, multiple intracranial aneurysms and others. Multiple intracranial aneurysms segment is divided into ophthalmic artery, middle cerebral and posterior communicating artery. Others include large aneurysm, giant aneurysm, blister like, and fusiform aneurysm. On the basis of end user, the market is bifurcated into hospitals and clinics and ambulatory surgical center. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global flow diverters market include Acandis, BALT Extrusion SA, InspireMD, Johnson and Johnson, Medtronic, MicroPort Scientific Corporation, Microvention, Penumbra Inc., Phenox, Stryker Neurovascular.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the flow diverters market analysis from 2021 to 2031 to identify the prevailing flow diverters market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the flow diverters market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global flow diverters market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Pipeline embolization device
Silk flow diverter
Surpass flow diverter
Flow redirection endoluminal device
Others
By Application
Others
Cerebral aneurysms
Multiple Intracranial Aneurysms
Location
Ophthalmic artery
Middle cerebral
Posterior communicating artery
By End User
Hospital and clinics
Ambulatory surgical center
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest Of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest Of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA
Key Market Players
Acandis
BALT Extrusion SA
Medtronic
MicroPort Scientific Corporation
Microvention
Penumbra Inc.
Phenox
Stryker Neurovascular
Phenox GmbH
Johnson and Johnson
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