Flow Diverters Market: Rise in Demand for Minimally Invasive Endovascular Surgeries is Projected to Contribute to the Market Growth
Advancement in scientific technology has led to development of new generation stents referred as flow diverters. Flow diverters stenting has become the most widely accepted minimally invasive method for treatment of intracranial aneurysm.
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Flow diverters cause the disruption of intra-aneurysmal blood flow which results in change of the transmural pressure gradient. Interventional cardiologists, surgeons, neurologists, and radiologists are efficient in performing this procedure.
Usage of endovascular stents has increased due to growing acceptance of flow diverters by surgeons and physicians. This procedure is highly recommended by health care centers and hospitals worldwide to people with carotid artery stenosis. Also, several vendors are focusing on getting clinical data and findings that support the adoption of flow diverters, which will enable manufacturers and researchers to develop new technologies for treating intracranial aneurysm. Rise in demand for minimally invasive endovascular surgeries is projected to contribute to the growth of the global flow diverters market during the forecast period.
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The first clinical use of a flow diverter in North America was reported in 2008. The use of flow diverter has widened the scope of treatment of cerebral aneurysms. Flow diverters have helped in treating previously untreatable intracranial aneurysms. Increase in cases of brain aneurysms drive the global flow diverters market. Moreover, growing awareness and demand for minimally invasive endovascular surgeries propel the market. However, complications associated with the procedure, high cost of treatment, and alternative procedures and therapies restrain the global flow diverters market.
Flow diverters are available in different lengths, diameter sizes, materials, and designs. The global flow diverters market can be segmented based on device type, end-user, and region. In terms of device type, the market can be categorized into Pipeline embolization device (PED), Silk flow diverter (SILK), Surpass flow diverter (SURPASS), FRED flow diverter, and p64 flow diverter.
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Cobalt-chromium and platinum-tungsten materials are used in the manufacture of flow diverters. PED is the most commonly used flow diverter in treatment of intracranial aneurysms. It is made of 75% cobalt-nickel and 25% chromium-platinum alloy and consists of a stent-like device with porosity of 65% to 70%. These are available in 2.5 mm to 5 mm diameter and 10 mm to 35 mm length.
Silk flow diverters are currently unavailable for use in the U.S. and limited data is available on the use of Surpass flow diverter. Based on end-user, the global flow diverters market can be classified into hospitals and research institutes. Adoption of flow diverters for the treatment of intracranial aneurysms by neurosurgeons and physicians has fueled the growth of the global flow diverters market in the past few years.
In terms of region, the global flow diverters market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America dominates the global flow diverters market because of fast growing life science industry, rising focus on research & new technology development.
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Europe is the second largest market for flow diverters. Asia Pacific is projected to be the most lucrative market for flow diverters and is expected to expand at the highest growth rate from 2017 to 2025. Rise in government initiatives, grants, and funds; increase in life science R&D spending especially in India, China, and Japan, and dedicated research commercial zones are attracting domestic and foreign players to invest and enter the lucrative research sector in Asia Pacific.
Key players operating in the global flow diverters market are Medtronic, Balt Extrusion, MicroVention, Inc., and Stryker, among others.
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