Global Aneurysm Clips Market - 2023-2030
The global aneurysm clips market size was valued at US$ 935.8 million in 2022 and is estimated to reach US$ 1,389.3 million by 2030, growing at a CAGR of 5.2% during the forecast period (2023-2030)
The rising incidence of laparoscopic surgical procedures and the use of highly appropriate materials including stainless steel alloys, such as pure titanium, titanium alloy, elgiloy, and phynox in aneurysm clips are the factors that are anticipated to have an impact on the growth of the aneurysm clips market.
The global market for aneurysm clips is experiencing rapid technological advancements in terms of portability and miniaturization such as clip appliers and tipsters which can be used endoscopically or laparoscopically without making significant incisions on a patient’s body surface area.
Market DynamicsThe Increasing prevalence of cerebral aneurysms will drive the global aneurysm clips market.
A rise in the prevalence of disorders related to neurology such as cerebral or brain aneurysms, epilepsy, and strokes among many others in several countries is anticipated to fuel the aneurysm clips market growth. According to an NHS data, around 1 in 15,000 individuals in England have a ruptured brain aneurysm annually. Furthermore, about 3% of adults in the U.K. have a cerebral aneurysm. Brain aneurysms can develop in anyone at any age, but are more common in people over the age of 40. Hence, this result in boost of aneurysm clips market across healthcare providers.
Stringent regulatory requirements are factors hindering the market growth.
Stringent norms to ensure bio magnetic compatibility to avoid unfavorable incidence and boost patient safety will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the market.
COVID-19 Impact AnalysisIn the worst pandemic-affected countries, such as India, the U.S. and others, neurosurgical procedures declined to 55%. These are some of the severely impacted countries in terms of positive cases and reported deaths.
Due to the restrictions, there was a limitation on the total number of general surgical operations that could be carried out globally. The closure of several departments at various hospitals around the world due to a shortage of available staff has also had an influence on the number of procedures
Segment AnalysisThe aneurysm clips market is segmented on the basis of material type, aneurysm type, and end user.
Titanium-based aneurysm clips segment will be dominated by market players during the forecast period.
The titanium aneurysm clip is a piece of equipment that is made to be positioned on the neck or opening of an artery, usually to restrict blood flow and seal off the location from which it was extracted. The Titanium-based aneurysm clips holds around 42.3% of the total aneurysm clips market in the forecast period.
This treatment can be used when an arterial wall has been determined to have a burst or weakening segment, or when a vein has become clogged and no longer allows blood to flow through it. Cobalt clips are implanted with long, thin wires strung through the clip. After the wires are placed into the brain to seal off both ends of the aneurysm, one end is removed to prevent the aneurysm from being pushed out of the patient’s head.
Geographical AnalysisNorth America is the dominating region during the forecast period.
The North America region holds the second largest share of the global aneurysm clips market accounting for approximately 38.9% in the forecast period. One in 50 people in the U.S. suffers from an unruptured brain aneurysm. As a result of the rising prevalence of diseases and the growing senior population, the market in this region is expanding. The expansion of this region is also aided by the rapid acceptance of new technology and the presence of important corporations.
Competitive LandscapeThe major global players include Boston Scientific, Medtronic, Abbott, Ortho-Medical GmbH, KLS Martin Group, InoMed, Integra LifeSciences, Mizuho America, Adeor Medical AG, B Braun, Peter LAZIC GmbH and others.
Why Purchase the Report?• To visualize the global aneurysm clips market segmentation based on material type, aneurysm type, and end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of global aneurysm clips market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
• The global aneurysm clips market report would provide approximately 92 tables, 108 figures and 195 Pages.
Target Audience 2023• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies