Flow Diverters Market Size, Share & Trends Report

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

  • Published Date: Nov, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-184-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 95

Report Overview

The global flow diverters market size was valued at USD 222.6 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 12.8% from 2020 to 2027. The rising prevalence of brain aneurysm and risk factors associated with it, as well as a growing inclination towards minimally invasive procedures, are among the key factors driving the market. In addition, growing awareness among people regarding the treatment and initiatives taken by governments to prevent the rate of intracranial aneurysm are few other factors contributing towards market growth. The increasing incidence of brain aneurysm globally is expected to positively impact the growth of the market for flow diverters over the forecast period. Brain aneurysm is also termed as an intracranial or cerebral aneurysm, which is a bulge or ballooning in a blood vessel inside the brain. This aneurysm can rupture and cause bleeding in the adjacent subarachnoid space, thereby leading to a stroke or brain hemorrhage.

U.S. flow diverters market size

Flow diverters are mainly used to treat untreatable intracranial aneurysms and are placed in the parent artery, in order to divert blood flow. The presence of a large geriatric patient base is anticipated to be one of the key success factors for the growth of the market for flow diverters over the forecast period. For instance, as per the research study published in NCBI 2017, the prevalence rate of unruptured cerebral aneurysms in elderly patients is rapidly increasing, especially in patients aged 70 years or older. According to the World Ageing report, in 2019, it is estimated that there were approximately 703 million people aged 65 years or over globally. Hence, as the elderly population increases, the demand for flow diverters is also expected to increase.

An unhealthy lifestyle has doubled the risk of intracranial aneurysm among people. At present, a large percentage of the population is at risk of developing brain aneurysm as a result of high blood pressure and smoking. Raised blood pressure (hypertension) significantly increases the risk of brain aneurysm and other diseases. Furthermore, according to the CDC, more than 480,000 deaths are recorded every year due to cigarette smoking. In 2018, approximately 34.2 million people in the U.S. smoked cigarettes, and over 16 million Americans live with a smoking-related disease. Moreover, according to Headway, in 2016-2017, there were 348,453 hospital admissions due to brain injuries in the U.K. Thus, the increasing number of patients suffering from associated disorders is significantly fueling the growth of the market for flow diverters.

Furthermore, the increasing incidence of brain aneurysms in some of the developed and developing countries has driven the launch of technologically advanced products in the market. Key companies are making continuous efforts for introducing technologically advanced products in the market for flow diverters. For instance, in August 2020, the U.S. Stryker Corporation launched the Surpass Evolve Flow Diverter. It is a 64-wired cobalt-chromium flow diverter designed for the treatment of unruptured giant and large wide-neck cerebral aneurysms. This approval is likely to help the company expand its neurovascular unit as well as help to expand its geographic presence.

Countries such as the U.S. and Canada have witnessed a high incidence rate of intracranial aneurysm in recent years. As per the Neuro Intervention Report 2017, more than 6.0 million people in the U.S. have developed an unruptured intracranial aneurysm. It is also reported that the geriatric population and individuals aged 35-60 are at a higher risk of developing an intracranial aneurysm. Furthermore, according to the Brain Aneurysm Foundation in 2017, the annual rate of brain rupture is around 8 to 10 per 100,000 individuals in the U.S. Similarly, as per the Brain Aneurysm Foundation, around 2,800 to 3,500 people in Canada suffer from a ruptured brain aneurysm every year. Therefore, such a high prevalence of intracranial aneurysm is anticipated to boost the growth of the market for flow diverters over the forecast period. In addition, a rise in the number of initiatives being undertaken by government and non-government organizations for spreading awareness about cerebral aneurysm and increasing healthcare expenditure are among the factors boosting the market growth.

Furthermore, the increasing awareness about brain aneurysm has resulted in people being mindful of the causes and early manifestations of stroke. According to the Brain Aneurysm Foundation, around 500,000 deaths occur worldwide each year caused by brain aneurysm. At present, various initiatives have been launched by the governments of several countries to improve public awareness and treatment related to this condition. For instance, the Bee Foundation (TBF), a nonprofit organization, is focused on spreading awareness and reducing the number of deaths due to cerebral aneurysm by innovative research. The TBF invites proposals for brain aneurysm research grant, which is likely to help the organization achieve its aim of reducing mortality due to brain aneurysm. This growing awareness among people regarding the treatment and initiatives taken by the government to prevent the rate of intracranial aneurysm is likely to boost the growth of the market for flow diverters.

Diameter Size Insights

The >5 mm flow diverters segment dominated the market for flow diverters and accounted for the largest revenue share of 65.8% in 2019. This is owing to its wide spectrum application in treating large and wide intracranial aneurysms since most of the ruptured aneurysms are larger in size, which means more than 10.0 mm in diameter. Therefore, >5 mm flow diverters are utilized to implant in large-sized vessels and are ideal to achieve a high rate of stable aneurysm occlusion. Thus, the increasing prevalence rate of brain aneurysm is anticipated to boost the demand for the segment during the forecast period.

U.K. flow diverters market share

However, the 3 - 4 mm flow diverters segment is expected to witness the highest CAGR of 13.8% from 2020 to 2027 owing to a rise in the number of product approvals and an increase in demand for minimally invasive procedures. For instance, in July 2020, Balt Extrusion obtained CE mark approval for its Silk Vista flow diverting stent used to treat small or medium-sized intracranial aneurysms (unruptured). This product will be commercialized in over 30 European countries. Similarly, in February 2019, Medtronic received the U.S. FDA approval for an expanded indication of the Pipeline Flex embolization device. This device can be used for the treatment of patients with small or medium wide-necked aneurysms. Hence, the 3-4 mm flow diverters segment is expected to witness the highest CAGR during the forecast period.

Regional Insights

North America dominated the flow diverters market and accounted for the largest revenue share of 46.5% in 2019. This is due to the high prevalence of intracranial aneurysm and a rise in the demand for minimally invasive neurological procedures. For instance, according to the Brain Aneurysm Foundation, in the U.S., more than 6.5 million suffered from an unruptured cerebral aneurysm. In the U.S., approximately 30,000 people suffer intracranial aneurysm rupture every year. Rapid technological advancements are also among the factors contributing to the growth of the market for flow diverters in the region. Furthermore, supportive government initiatives and favorable reimbursements are also expected to fuel market growth.

In the Asia Pacific, the market for flow diverters is expected to witness the highest CAGR of 14.4% from 2020 to 2027. This is due to the presence of a huge patient base suffering from neurovascular disorders in emerging economies such as India and China, along with rising healthcare expenditures in this region. In addition, mandatory healthcare insurance in some countries, rapid technological advancements, and increasing government initiatives are high impact rendering drivers of the market for flow diverters. For instance, the China Intracranial Aneurysm Project (CIAP) is an observational, prospective, and multicenter registry study of risks, rupture, diagnosis, and treatment of the intracranial aneurysm. Five studies are under CIAP. CIAP-1 is the observational study of the unruptured intracranial aneurysm. This is anticipated to impel market growth over the forecast period.

Key Companies & Market Share Insights

The key players account for a considerable share of the market for flow diverters owing to their broad product offerings. In recent years, flow diverters are getting attention from neurosurgeons owing to their success rate in managing brain aneurysm. Several key players are focusing on research activities for addressing the pitfalls associated with the existing treatment options. For instance, in August 2019, Macquarie Medical Imaging, Fujitsu Australia, GE Healthcare, and Macquarie University announced a new research collaboration to find advanced techniques to improve the treatment and diagnosis of intracranial aneurysm.

Furthermore, companies in the intracranial aneurysm market are undertaking this strategy for strengthening their product portfolio and offer diverse technologically advanced products to their customers. This strategy is the most prominently adopted strategy by the key market players for attracting more customers in the intracranial aneurysm market. For instance, in February 2019, Medtronic received the U.S. FDA approval for an expanded indication of the Pipeline Flex embolization device. This device can be used for the treatment of patients with small or medium wide-necked aneurysms. Earlier the device was used for treating large wide-necked aneurysms. Such initiatives are expected to improve the company’s revenue and world-wide presence in the forthcoming years. Some of the prominent players in the flow diverters market include:

  • Medtronic

  • Stryker Corporation

  • MicroVention, Inc. (Terumo Corporation)

  • BALT Extrusion SA

  • MicroPort Scientific Corporation

  • Penumbra Inc.

  • Phenox GmbH

  • Acandis

Flow Diverters Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 250.3 million

Revenue forecast in 2027

USD 580.5 million

Growth Rate

CAGR of 12.8% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Diameter size, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Colombia; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Medtronic; Stryker Corporation; MicroVention, Inc. (Terumo Corporation); BALT Extrusion SA; MicroPort Scientific Corporation; Penumbra Inc.; Phenox GmbH; Acandis

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global flow diverters market report on the basis of diameter size and region:

  • Diameter Size Outlook (Revenue, USD Million, 2016 - 2027)

    • 2-3 mm Flow Diverters

    • 3-4 mm Flow Diverters

    • 4-5 mm Flow Diverters

    • >5 mm Flow Diverters

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

      • UAE

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