In 2021, the global market for Aneurysm Clips was valued at USD 72 million. AMR Group predicts that the market will reach US$ 120 million by 2031, increasing at an 8.2 percent CAGR between 2023 and 2033.
Aneurysm Clips are tiny metal clips used to treat several types of aneurysms, including cerebral, thoracic, abdominal, and peripheral, which are weak spots in the wall of a blood artery that might bulge and burst. The clips are put at the base of the aneurysm to block blood flow to the weaker region, preventing it from rupturing and causing bleeding.
The rising number of laparoscopic surgical operations, as well as the usage of convenient materials including stainless steel alloys such as titanium and cobalt in aneurysm clips, are the primary factors projected to influence the growth of the aneurysm clips market. In addition, the market is expected to be pushed by the rising adoption of unhealthy lifestyles, a growing elderly population, and an increase in intracranial aneurysm ruptures.
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Aneurysm Clips Market Key Players
- Medtronic
- Stryker
- MicroVention Terumo
- B. Braun Melsungen AG
- KLS Martin Group
Driving Factor
The aneurysm clip market is primarily driven by the rising number of cases of cerebral aneurysms and the increasing number of surgical procedures performed to address the disease. The growing elderly population, changing living patterns, and the rising prevalence of risk factors such as high blood pressure and smoking all contribute to an increase in the incidence of cerebral aneurysms. As a result, there is an increased demand for effective aneurysm treatment methods, such as cutting.
Technological advancements in aneurysm clipping procedures and tools, such as the development of specific microsurgical equipment and imaging technologies, have also contributed to market growth, allowing surgeons to perform more precise and minimally invasive procedures, resulting in improved patient outcomes and shorter recovery times. Furthermore, rising healthcare costs, improving healthcare infrastructure, and increased knowledge of aneurysm treatment alternatives in emerging nations are propelling market expansion.
Growth Opportunity
The aneurysm clips market has distinct potential prospects due to technical improvements and the increasing occurrence of brain aneurysms. The development of enhanced aneurysm clips, such as shape-memory alloys, is often intended to improve surgical results and reduce the risk of complications, so helping to meet increased demand.
Furthermore, rising healthcare costs and government attempts to develop healthcare infrastructure in emerging nations create excellent chances for market companies to grow their operations. Furthermore, the rising use of less invasive treatments for aneurysm treatment, such as hybrid endovascular and surgical procedures, is expected to stimulate demand for aneurysm clips. With an aging population and an increased prevalence of cerebral aneurysms, the aneurysm clips market is likely to expand significantly in the future years.
Regional Trend
The market for aneurysm clips differs by area due to variances in healthcare systems, prevalence of cerebral aneurysms, accessibility to healthcare facilities, and regulatory rules. Here’s a quick regional breakdown of the aneurysm clip market:
- North America is the largest market for aneurysm clips, owing to the region’s high frequency of cerebral aneurysms, well-developed healthcare infrastructure, and widespread awareness among patients and providers. The area also features a significant number of important players in the aneurysm clips industry.
- Europe is another large market for aneurysm clips, owing to a high prevalence of cerebral aneurysms, increased acceptance of minimally invasive operations, and advantageous reimbursement regulations. The area has a well-established healthcare infrastructure and a huge patient population, which helps to drive the expansion of the aneurysm clips market.
- The Asia Pacific market for aneurysm clips is predicted to grow rapidly, owing to a large population base, rising prevalence of cerebral aneurysms, expanding healthcare infrastructure, and more patient and provider awareness. However, the market is fragmented and fiercely competitive, with local firms pitted against multinational giants.
- Latin America’s market for aneurysm clips is being pushed by an increasing prevalence of cerebral aneurysms, expanding healthcare infrastructure, and increased use of minimally invasive operations. However, the market is still in its early stages, with a small number of major competitors.
- The Middle East and Africa aneurysm clip market is continuously expanding, driven by rising healthcare spending, improved healthcare infrastructure, and more patient and provider awareness. However, the market remains tiny, with only a few important participants.
Latest Trend
The aneurysm clips market is seeing a variety of trends that are influencing the industrial landscape. One of the most significant changes is the increased use of modern imaging techniques such as CT angiography and 3D rotational angiography, which provide precise diagnosis and planning for aneurysm clipping operations. Another major development is the increased need for personalized aneurysm clips that are fitted to the patient’s individual anatomical characteristics, improving surgical results and reducing the risk of complications.
The trend toward less invasive treatments for aneurysm treatment, such as endovascular coiling, is encouraging the development of hybrid procedures that combine surgical clipping with endovascular coiling techniques. The entry of new market participants, together with increased R&D efforts to create revolutionary aneurysm clips, is expected to drive market expansion. Furthermore, the increased use of telemedicine and remote monitoring technologies for postoperative treatment is likely to open up new potential prospects in the aneurysm clip market.
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