Global Flow Diverters Market Size to Reach US$ 398 Million by 2025 at a CAGR of 12.3%
Noida, Uttar Pradesh, India, February 19 2021 (Wiredrelease) Report Ocean Pvt Ltd –:The rising prevalence of brain aneurysms and risk factors associated with it and a growing inclination towards minimally invasive procedures are key driving factors for the flow diverters market. Besides, governments’ raising awareness for the treatment and initiatives to prevent intracranial aneurysm rate are few other factors contributing to market growth. The increasing incidence of brain aneurysms globally is expected to positively impact the market growth for flow diverters during the forecast period. A brain aneurysm is also called a cerebral aneurysm or intracranial; it can be a bulge in a blood vessel inside the brain. These brain aneurysms can rupture and cause bleeding in the adjacent subarachnoid space, thereby leading to a brain hemorrhage or stroke. Driven by these promising developments, the Global Flow Diverters Market is estimated to see healthy growth, pegged at a CAGR of 12.3% during the forecast period 2020-2025.
Pipeline embolization device (PED) creates growth opportunities in the global market
In 2019, the Pipeline embolization device (PED) business segment accounted for the largest share in terms of value, and it is probable to retain its dominance during the study period. Its higher efficiency rate and vast applications allow it to garner the largest share in the global flow diverters market. PEDs are mainly indicated for patients aged 22 or above. They are used for treating small and medium cerebral aneurysms with a dome to neck ratio <2 mm and for multiple aneurysm types, such as fusiform and saccular, and aneurysms in the carotid artery having a size of 2mm and 5 mm.
Flow diverters are primarily used to treat untreatable intracranial aneurysms and are placed in the parent artery to change blood flow. The large geriatric patient base is anticipated to be one of the key driving factors for the market growth of flow diverters over the forecast period. For instance, according to the NCBI research study published in 2017, the unruptured cerebral aneurysms prevalence rate in elderly patients is rapidly growing, especially in patients aged 70 years or above. According to the World Ageing report 2019, it is estimated that there were about 703 million people aged 65 years or above worldwide. Thus, the growth in the elderly population is expected to create the demand for flow diverters worldwide.
Furthermore, the increasing brain aneurysms incidence in the developed and developing economies has driven the launch of technologically advanced products in the global flow diverters market. Leading flow diverters companies are making continuous efforts to introduce technically advanced products for flow diverters in the market. For instance, the U.S. Stryker Corporation introduced the Surpass Evolve Flow Diverter in August 2020. It is a 64-wired cobalt-chromium flow diverter designed to treat unruptured giant and large wide-neck cerebral aneurysms. This approval is probable to help the company expand its neurovascular unit and further help boost its global presence.
Segmentation Overview of the Global Flow Diverters Market
The flow diverters market is segmented based on Device Type, Diameter Size, and Material. These major market segments are further categorized into various sub-segments to study the market in detail.
By Device Type Outlook (Pipeline embolization device (PED), Silk flow diverter (SILK), Surpass flow diverter (SURPASS), FRED flow diverter, p64 flow diverter)
By Diameter Size Outlook (2-3 mm, 3-4 mm, 4-5 mm, >5 mm)
By Material Outlook (Cobalt-chromium, Nickel-cobalt chromium, Nickel-titanium, Stainless steel)
By End-use Outlook (Hospitals, Clinics, Home Care, Others)
Key Players Insights
MicroVention, Inc. (Terumo Corp.), Medtronic, BALT Extrusion SA, Penumbra Inc., Stryker Corporation, Phenox GmbH, MicroPort Scientific Corporation, and Acandis, among others, are some significant players included in the research study of the global flow diverters market.
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