Global Flow Diverters Market by Diameter Size (>5 mm, 2-3 mm, 4-5 mm, 3-4 mm) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global flow diverters market was valued at USD 252.92 Million in 2020. It is expected to grow at a compound annual rate (CAGR of 16.9%) between 2021 and 2028. Market growth is driven by the rising incidence of brain aneurysm, the associated risk factors and the increasing preference for minimally invasive procedures. The market is also driven by increasing awareness about the treatment and government initiatives to stop the rate of intracranial Aneurysm. The FDA has approved many products for intracranial aneurysm use, which has led to flow diverters gaining more traction. This approval of flow diverters will likely eat away at embolic coils which were once the standard for intracranial angioplasty treatment. The flow diverter procedure is simpler than embolic coils, and takes less time in the hospital. The COVID-19 pandemic had a positive effect on flow diverters manufacturers in terms of product demand.

Market growth is expected to be positive due to an increasing incidence of brain aneurysm worldwide. An intracranial or cerebral brain aneurysm can also be called a brain aneurysm. It is a bulge in the blood vessels of the brain that causes ballooning. An aneurysm may rupture and cause bleeding to the subarachnoid space adjacent, which can lead to a stroke or brain hemorhage. Flow diverters are used to treat intracranial aneurysms that are not easily treated. They are placed in the parent vein to divert blood flow.

The market's growth is expected to be influenced by the large number of elderly patients. According to a research study published by NCBI 2017, unruptured cerebral angiopathy is on the rise in elderly patients, particularly those aged 70 and older. The World Ageing report estimates that in 2019, there will be approximately 703 million individuals 65 and older worldwide. As the population ages, flow diverters are also expected to grow in demand.

In addition, there is an increasing number of brain aneurysms in both developed and developing countries. This has prompted the introduction of technologically advanced products to the market. Companies are continually working to introduce technologically advanced products into the market. Stryker Corporation, for example, launched the Surpass Evolve Flow Diverter in August 2020 in the U.S. The 64-wire cobalt-chromium flow diverter is designed to treat unruptured giant or large-neck cerebral aneurysms. This approval will likely help the company to expand its neurovascular unit and geographical presence.

In recent years, countries such as Canada and the U.S. have seen a high rate of intracranial angiopathy. According to the Neuro Intervention Report 2017, over 6.0 million Americans have suffered from an unruptured intracranial aeurysm. The risk of developing an intracranial aeurysm is higher in the elderly and those aged 35-60.

Information on Diameter Size

With a market share of 64.50%, the >5 mm segment of flow diverters dominated in 2020. This is due to their broad application in treating large and large intracranial aneurysms. Larger ruptured aneurysms (more than 10 mm in size) are more common. Therefore, >5mm flow diverters are used to insert in large vessels and achieve high aneurysm stability. The increasing incidence of brain aneurysms is expected to increase the demand for >5mm flow diverters over the forecast period.

Due to an increase in product approvals and a greater demand for minimally invasive procedures, the segment of flow diverters 3-4 mm will see the highest CAGR between 2021-2028. Balt Extrusion received CE approval in July 2020 for its Silk Vista flow diverting device, which is used to treat small and medium-sized intracranial aeurysms (unruptured). The product will be available for sale in more than 30 European countries. In February 2019, Medtronic was approved by the FDA for an expanded indication for its Pipeline Flex embolization system. This device is suitable for treating patients suffering from small, medium or large-necked aneurysms.

Regional Insights

In 2020, North America was responsible for 43.29% of the total. This is due to an increase in neurosurgical procedures that are minimally invasive and the high incidence of intracranial aneurisms. According to the Brain Aneurysm Foundation in the United States, over 6.5 million people suffered from unruptured cerebral aneurisms. Every year, around 30,000 Americans suffer from an intracranial rupture. The North American market is also growing due to technological advances. Market growth will also be supported by supportive government initiatives and favorable reimbursements.

Asia Pacific will experience a 17.0% CAGR between 2021 and 2028. This is due to the growing healthcare spending in Asia Pacific and the large number of patients suffering from neurovascular diseases in emerging economies like India and China. The market is also driven by mandatory healthcare insurance in certain countries, technological advances, and increased government initiatives. The China Intracranial Aneurysm project (ICAP), for instance, is an observational prospective registry study that examines risks, ruptures, diagnosis and treatment of intracranial aneurysms. ICAP currently has five studies. CIAP-1 is an observational study on unruptured intracranial aeurysms. This will drive market growth during the forecast period.

Market Share Insights & Key Companies

Due to their extensive product ranges, key market players hold a significant share of the market. Neurosurgeons have been paying more attention to flow diverters in recent years due to their high success rate at managing brain aneurysms.

Many key players are now focusing their research efforts on overcoming the problems associated with existing treatment options. Cerus Endovascular was approved for CE marking in April 2020 for the Neqstent Coil assisted flowing diverter, which is intended to treat intracranial aeurysms. Neqstent can treat many aneurysm types, including bifurcation and wide-necked bifurcation. The following are some of the most prominent players in global flow diverters:

• Medtronic

• Stryker Corporation

• MicroVention, Inc. (Terumo Corporation)

• BALT Extrusion SA

• MicroPort Scientific Corporation

• Penumbra Inc.

• Phenox GmbH

• Acandis

Up Market Research published a new report titled “Flow Diverters Market research report which is segmented by Diameter Size (>5 mm, 2-3 mm, 4-5 mm, 3-4 mm), By Players/Companies MicroVention Inc (Terumo Corporation), Phenox GmbH, MicroPort Scientific Corporation, Penumbra Inc,  Acandis, Stryker Corporation, BALT Extrusion SA, Medtronic”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Flow Diverters Market Report Segments:

The market is segmented by Diameter Size (>5 mm, 2-3 mm, 4-5 mm, 3-4 mm).

Flow Diverters Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Flow Diverters Market

Overview of the regional outlook of the Flow Diverters Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Flow Diverters Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Flow Diverters Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. >5 mm

                2. 2-3 mm

                3. 4-5 mm

                4. 3-4 mm

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Flow Diverters Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Flow Diverters Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.