The global flow diverters market size is anticipated to reach USD 580.5 million by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.8% from 2020 to 2027. Increasing research activities pertaining to the treatment of brain aneurysm and the rising prevalence of cerebral aneurysm are driving the market.
Key suggestions from the report:
- On the basis of diameter size, the >5 mm flow diverters segment dominated the overall market with a share of 65.8% in 2019 owing to their increasing demand and application in treating giant and wide intracranial aneurysms (>10 mm vessel diameter)
- North America dominated the market with the highest revenue share of 46.5% in 2019 owing to the high prevalence rate of brain aneurysms and the presence of key market players in this region
- In Asia Pacific, the market is expected to witness the highest CAGR of 14.4% from 2020 to 2027 owing to the presence of a huge target population and increasing healthcare spending in the region.
Read 95 page research report with ToC on “Flow Diverters Market Size, Share & Trends Analysis Report By Diameter Size (2-3 mm, 3-4 mm, 4-5 mm, >5 mm), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 – 2027″ at: https://www.grandviewresearch.com/industry-analysis/flow-diverters-market
An increasing number of patients suffering from hypertension significantly increases the risk of a brain aneurysm. This is expected to drive the market growth in the coming years. Hypertension or trauma to blood vessels is the major cause of brain aneurysm. As per the WHO facts 2019, around 1.1 billion people worldwide are suffering from hypertension.
In addition, several initiatives launched by the government of various countries to improve public awareness and treatment related to cerebral aneurysm are driving the market. For instance, the Brain Aneurysm Foundation of Canada works toward educating and spreading awareness about brain aneurysms. This program includes early access to monthly educational webinars and social media campaigns for highlighting the prevalence of brain aneurysms.
Moreover, companies are developing and launching technologically advanced products for attracting more customers in the market. For instance, in January 2020, MicroVention, Inc., (part of Terumo Corporation) received the U.S. FDA Premarket Approval for its FRED to treat intracranial aneurysms. It utilizes self-expanding, woven nitinol mesh to re-direct blood flow and promote aneurysm occlusion.
Grand View Research has segmented the global flow diverters market on the basis of diameter size and region:
- Flow Diverters Diameter Size Outlook (Revenue, USD Million, 2016 – 2027)
- 2-3 mm
- 3-4 mm
- 4-5 mm
- >5 mm
- Flow Diverters Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- North America
List of Key Players of Flow Diverters Market
- Stryker Corporation
- MicroVention, Inc. (Terumo Corporation)
- BALT Extrusion SA
- MicroPort Scientific Corporation
- Penumbra Inc.
- Phenox GmbH
Find more research reports on Medical Devices Industry, by Grand View Research:
- Vascular Grafts Market – The global vascular grafts market size was valued at USD 2.01 billion in 2018 and is expected to witness a CAGR of 6.4% over the forecast period. Increasing cases of cardiac diseases, diabetes, End Stage Renal Disease (ESRD), & vascular occlusions is the major factor driving market growth.
- Aortic Aneurysm Market – The global aortic aneurysm market size was valued at USD 2.5 billion in 2018 and is expected to register a CAGR of 8.6% from 2019 to 2026. Increasing geriatric population, poor dietary habits, and high incidence of Cardiovascular Diseases (CVDs) are some of the factors impelling the demand.
- Trauma And Extremities Devices Market – The global trauma and extremities devices market was valued at USD 10.04 billion in 2018 and is projected to expand at a CAGR of 7.7% over the forecast period. Rising road accidents coupled with improving healthcare facilities are anticipated to drive the growth.