Aneurysm Clips Market To Reach USD 1.74 Billion By 2027 – Reports and Data
Increasing demand for surgical procedures and integration of highly compatible materials into the clips are forecasted to drive the market growth.
The global aneurysm clips market is forecast to reach USD 1.74 Billion by 2027, according to a new report by Reports and Data. The procedure of accessing blood vessels directly by performing a craniotomy and positioning an aneurysm clip to cut off blood supply is known as aneurysm clipping.
This procedure has been used for years to treat brain aneurysms and is not only effective and safe but can be performed on all types of aneurysm. It lowers the risk of recurrence in many patients. Rising demand for surgical procedures and integration of highly compatible materials into the clips are expected to influence the growth of the market. Moreover, the availability of biocompatible aneurysm clips in a variety of shapes and sizes for applications in the neurological field is expected to create potential growth prospects of the aneurysm clips market. Further, the adoption of these clips is anticipated to accelerate by increasing access to healthcare facilities globally majorly.
In 2016, Neos Surgery developed plastic clips, which allows post-surgical checkups via Computed Tomography (CT) and Magnetic Resonance Imaging (MRI) scans, which is not possible with a metal clip. The technology was developed through the European Union’s Eureka Eurostars program, which funded R&D with USD 1.23 million.
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Further key findings from the report suggest
- Aneurysm clips are mostly made of cobalt-based alloys. Although these clips are nonferromagnetic, they still produce artifacts that degrades the quality of magnetic resonance (MR) images. They are forecasted to grow with a CAGR of 6.5% during the forecast period.
- An abdominal aortic aneurysm takes place when an area of the aorta becomes very large or balloons out. The exact cause of it is not known, but it generally occurs due to any weakness in the artery wall. Factors that can increase the risk of having abdominal aneurysm is smoking, high blood pressure, male gender, and genetic factors.
- The disease is most often seen in males over age 60 who have one or more risk factors. The larger the aneurysm, the more likely it is to break open or tear. This can be life-threatening.
- Hospitals held the largest market share. Increasing access to healthcare facilities and the application of these clips will enhance their market demand. Government across the globe are increasingly investing in healthcare and more and more hospitals are coming up, thereby increasing market demand.
- Aneurysm clips market in North American region is expected to foresee major revenue share, owing to increasing incidences of aneurysm in the U.S. According to the Brain Aneurysm Foundation 2018 data, around six million people in the U.S. have unruptured aneurysms.
- Key participants include B. Braun Melsungen AG, Peter LAZIC GmbH, KLS Martin Group, Adeor Medical AG, Rebstock Instruments GmbH, Mizuho America, Stryker Corporation, RauMedic, InoMed, and Codman & Shurtleff, among others.
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For the purpose of this report, Reports and Data have segmented into the global Aneurysm Clips Market on the basis of material, aneurysm type, end-users, and region:
Material Outlook (Revenue, USD Billion; 2016-2027)
- Titanium Aneurysm Clip
- Cobalt-Chromium Aneurysm Clip
Aneurysm Type Outlook (Revenue, USD Billion; 2016-2027)
End-Users Outlook (Revenue, USD Billion; 2016-2027)
- Hospitals and Cardiac Clinics
- Specialty Clinics
- Ambulatory Surgical Centers
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Regional Outlook (Revenue, USD Billion; 2016-2027)
- North America
- Asia Pacific
- Latin America
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