Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Aneurysm Clips Market – Insights
A brain aneurysm, also referred to as a cerebral aneurysm or Intracranial Aneurysm (IA) is a weak bulging spot on the wall of a brain artery like a thin balloon or weak spot on an inner tube. The two most recognized types of aneurysms are saccular and fusiform, whereas mycotic, pseudo, and blister represent the rarer types of aneurysms.
Brain aneurysms can be detected using non-invasive imaging methods such as magnetic resonance imaging. Clipping is a common and effective surgical treatment for brain aneurysms. The goal of clipping is to place a small metallic clip or clips along the neck of the aneurysm. Clipping prevents blood from entering into the aneurysm sac and reduce risk of bleeding. The aneurysm clip remains in place for life and the aneurysm shrinks and scar down permanently after clipping. Moreover, well-clipped aneurysms have an extremely low risk of redeveloping, so for majority of the patients the clipping procedure successfully resolves the aneurysm.
The global aneurysm clips market was valued at US$ 972.9 million in 2017, and is expected to witness a CAGR of 6.2% over the forecast period (2018 – 2026).
Global Aneurysm Clips Market Revenue (US$ Mn) Analysis, By Aneurysm Type, 2017
Source: Coherent Market Insights Analysis (2018)
Increasing incidences of aneurysm is expected to drive the aneurysm clips market growth
Although brain aneurysms affect individuals of all age, it is most prevalent in people age between 35 and 60. According to the Brain Aneurysm Foundation 2018 data, brain aneurysms cause nearly 500,000 deaths worldwide annually with half the victims younger than 50 years. Various factors contributing to the formation of brain aneurysms include smoking, drug use such as cocaine, hypertension or high blood pressure, congenital resulting from inborn abnormality in artery wall, tumors, traumatic head injury, family history of brain aneurysms and other disorders such as Polycystic Kidney Disease, Ehlers-Danlos Syndrome, Marfan Syndrome, and Fibromuscular Dysplasia (FMD).
According to the Center for Diseases Control and Prevention (CDC), in 2013, around 75 million American adults were suffering from high blood pressure and it was a primary cause of death for more than 410,000 Americans in 2014. High blood pressure enlarges or weaken the blood vessels causing aneurysms in many cases.
Aneurysm Clips Market Restraints
Despite aneurysm clipping procedure has shown to be a safe and effective to treat aneurysms, it is an invasive procedure that requires dissection of the skull and general anesthesia for the procedure. General anesthesia poses risks, especially for older patients and those with chronic health conditions.
Moreover, recovery after invasive surgery takes longer time. For instance, recovering from a clipping procedure performed on an unruptured aneurysm without complications may require a two to a five-day hospital stay and three to six weeks of recovery at home. Furthermore, a ruptured aneurysm can take considerably longer time to recover. The presence of an aneurysm clip in a patient or individual in the magnetic resonance environment can be potentially hazardous situation. MRI can cause serious damage to aneurysm clips made from metal causing serious injury or death of patient.
Aneurysm Clips Market - Regional Insights
On the basis of region, the global aneurysm clips market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America aneurysm clips market is expected to foresee major revenue share, owing to increasing incidences of aneurysm in the U.S. According to the Brain Aneurysm Foundation 2018 data, around six million people in the U.S. have unruptured aneurysms.
Europe aneurysm clips market is anticipated to grow at significant rate, owing to presence of industry players focusing on development of innovative products in the field of aneurysm. For instance, in 2016, Neos Surgery developed plastic clips, which allows post-surgical checkups via Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scans, which is not possible with a metal clip. The technology was developed through the European Union’s Eureka Eurostars program, which funded R&D with US$ 1.23 million.
Global Aneurysm Clips Market Value (US$ Mn) & Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2018)
Key players operating in the global aneurysm clips market include B. Braun, Boston Scientific, Codman & Shurtleff, Integra LifeSciences, InoMed, KLS Martin Group, Medtronic Plc., Mizuho America, St. Jude Medical, Stryker Corporation, and RauMedic.