There is a rapid increase in the cases of brain aneurysms in different countries across the globe. The risk factors associated with these brain aneurysms are driving growth in the flow diverters market.
There is a rapid increase in the cases of brain aneurysms in different countries across the globe. The risk factors associated with these brain aneurysms are driving growth in the flow diverters market. Further, there is an increased inclination toward minimally invasive procedures in the medical industry, and it further fuels growth in the flow diverters market.
The rising awareness among the populace related to the treatment is also boosting growth in the flow diverters market. Furthermore, the government is taking different initiatives for the prevention of intracranial aneurysms among people. This factor may boost growth in the market.
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Flow diverters are gaining traction because of FDA approval for the usage of these diverters in the intracranial aneurysm. This rapid increase in the flow diverters may consume the market of embolic soils that were considered gold standards to treat an intracranial aneurysm in the past years. In addition, the surgical process for flow diverters is comparatively less complicated and needs a shorter inpatient time. So, the outbreak of COVID-19 has put a positive impact on the manufacturers in the flow diverters market regarding product demand.
Flow Diverters Market: Key Trends
There is a rapid increase in the cases of a brain aneurysm at the global platform, and it is expected to impact the growth in the flow diverters market. A brain aneurysm is also addressed as a cerebral or intracranial aneurysm. It is a ballooning or bulge in the vessels of blood inside the human brain. This aneurysm may rupture and result in bleeding in the nearby subarachnoid space. These steps further may lead to brain hemorrhage or stroke. Flow diverters find application for the treatment of untreatable intracranial aneurysms. These diverters are kept in the parent artery for the diversion of blood flow.
The rising geriatric population is anticipated to serve as a driving factor for the growth in the flow diverters market. The World Aging report has estimated that there are approximately 703 million people of 65 or over year’s age in 2019. So, the increasing population of geriatric people may boost demand in the flow diverters market.
The developed and developing countries across the globe are witnessing an increase in cases of brain aneurysms. This increase has led to an increased demand for technologically advanced products in the flow diverters market.
Flow Diverters Market: Competitive Dynamics and Key Developments
The key market players operating in the flow diverters market account for a considerable portion of the market with their broad product offerings. In recent years, neurosurgeons are putting their attention on flow diverters because of their increased success rate to manage brain aneurysms.
Different companies serving in the flow diverters market are concentrating on various research activities to address the pitfalls that are associated with the current treatment options in the market. For instance, Cerus Endovascular has got CE mark approval in April 2020. This approval is related to the Neqstent Coil-assisted flow diverter. This flow diverter works efficiently to cure different intracranial aneurysms. Neqstent has been designed to treat a wide series of aneurysm morphologies that includes bifurcation aneurysms and wide-necked bifurcation.
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Some of key players serving in the flow diverters market are:
- Acandis
- Medtronic
- Phenox GmbH
- Stryker Corporation
- Penumbra Inc.
- MicroVention, Inc.
- MicroPort Scientific Corporation
- BALT Extrusion SA
Flow Diverters Market: Regional Assessment
The flow diverters market is spread in distant geographical regions across the globe. Some key regions include North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Among these regions, North America accounts for the largest share in the flow diverters market. This dominance in the market is on the back of rising demand for neurological processes with the minimally invasive and increasing prevalence of intracranial aneurysms in the region. Furthermore, the growing rate of technological advancements is also fueling growth in the flow diverters market. The favorable reimbursements and supportive government initiatives are also boosting demand in the flow diverters market in the North American region. Further, the Asia Pacific region is also anticipated to grow at a significant rate because of increased cases of neurovascular disorders.
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