Global Aneurysm Clips Market – Insights
Brain aneurysm, also known as intracranial aneurysm (IA) is weakness in a blood vessel in the brain that balloons and fills with blood. Although IA affects individuals of all age, it is most prevalent in people aged between 35 and 60. 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) are some of the factors that may cause IA.
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Saccular and fusiform are the two most identified types of aneurysms, which also include some rare types such as mycotic, pseudo and blister. Non-invasive imaging methods such as magnetic resonance imaging (MRI) is used to detect IA. Clipping is a widely used method for the treatment of IA. In clipping, a small metallic clip or clips are placed along the neck of the aneurysm in order to prevent the blood from entering into the aneurysm sac. The aneurysm clip is maintained for a lifetime. However, the aneurysm decreases in size and scars down permanently after clipping. Effective clipping is key to low risk of redeveloping IA.
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)
Global Aneurysm Clips Market: Drivers
High prevalence of IA and high blood pressure is expected to boost growth of the global aneurysm clips market over the forecast period. For instance, 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 of age. Moreover, according to the Centers for Diseases Control and Prevention (CDC), in 2013, around 75 million adults in the U.S. were suffering from high blood pressure and the condition led to over 410,000 deaths in 2014.
Global Aneurysm Clips Market: Restraints
However, aneurysm clipping requires dissection of the skull and use of general anesthesia, which poses risks, especially for older patients and those with chronic health conditions. The recovery time after the process is also high as an unruptured aneurysm without complications may require a two to a five-day hospital stay and three to six weeks of recovery at home. A ruptured aneurysm can even take significantly longer time to recover. Use of magnetite devices such as MRI in patients with aneurysm clip may cause serious injury or even lead to death. These factors are expected to hinder growth of the global aneurysm clips market.
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Global Aneurysm Clips Market – Regional Analysis
North America is expected to account for major market share in the global aneurysm clips market over the forecast period. This is attributed to high prevalence of IA in the region. For instance, according to the Brain Aneurysm Foundation 2018 data, around six million people in the U.S. have unruptured aneurysms.
Increasing development and launch of new products is expected to boost growth of the market in Europe. For instance, in 2016, Neos Surgery developed plastic clips, which allow 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)
Global Aneurysm Clips Market – Competitive Landscape
Major players operating in the global aneurysm clips market include Integra LifeSciences, InoMed, KLS Martin Group, Medtronic Plc., B. Braun, Boston Scientific, Codman & Shurtleff, Mizuho America, St. Jude Medical, Stryker Corporation, and RauMedic.
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Detailed Segmentation:
- Global Aneurysm Clips Market, By Aneurysm Type:
- Abdominal Aneurysm
- Cerebral Aneurysm
- Thoracic Aneurysm
- Peripheral Aneurysm
- Global Aneurysm Clips Market, By Raw Material:
- Titanium
- Cobalt
- Others
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