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.
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.
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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.
Flow Diverters Market Report Highlights
- 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
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Flow Diverters Market Segmentation
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
List of Key Players of Flow Diverters Market
- Stryker Corporation
- MicroVention, Inc. (Terumo Corporation)
- BALT Extrusion SA
- MicroPort Scientific Corporation
- Penumbra Inc.
- Phenox GmbH
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.A based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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