Flow diverters are mounted in the parent artery to divert blood flow and are mostly used to treat untreatable intracranial aneurysms. One of the main driving factors for the growth of the flow diverters is the emergence of a strong geriatric customer base. An unhealthy life habit has increased the concerns of intracranial aneurysms among individuals. As a result of elevated smoking and blood pressure, a significant proportion of the population is now at risk of developing a brain aneurysm.
Hypertension (high blood pressure) raises the risk of a brain aneurysm and other conditions dramatically. The rising prevalence of IAs (intracranial aneurysms) and related risk factors would be a major driver of the industry. Since the probability of IAs increases with age, an increase in the prevalence of IAs is a common result of longer life expectancy. Hypertension, heavy alcohol intake, and obesity are some of the risk factors for IAs.
Technological Advances Plays Significant Role in Flow Diverters Market
Furthermore, the rising prevalence of brain aneurysms in both developing and developed countries has prompted the development of technologically advanced devices. Flow diverter manufacturers are constantly working to introduce technologically advanced devices to the industry. For instance, The U.S. Stryker Corporation has introduced Surpass Evolve Flow Diverter in August 2020.
It’s a 64-wired cobalt-chromium flow diverter prepared for massive wide-neck cerebral aneurysms and an unruptured giant. This approval would most likely aid the organization in expanding its neurovascular applications as well as its global reach. Furthermore, TBF (The Bee Foundation) is a nonprofit firm dedicated to raising awareness and reducing the number of deaths caused by cerebral aneurysms through groundbreaking research. The TBF is seeking applications for a brain aneurysm research grant that will help the agency accomplish its goal of lowering brain aneurysm mortality.
North America Dominates the Flow Diverters Market
North America accounted for the highest revenue share for the flow diverters market, owing to the rapidly expanding life science sector, there is a greater emphasis on innovation and advanced technology advancement. Likewise, the European region held the second-largest demand for flow diverters. The Asia Pacific is forecast to be the most profitable region for flow diverters, with the fastest growth rate over the forecast period. Increased government programs, funds, and grants increased life science R&D investment, especially in China, India, and Japan; and dedicated research commercial zones are drawing local and international players to invest and access Asia Pacific’s lucrative research market.
Furthermore, firms in the intracranial aneurysm industry are pursuing this approach to diversify their product range and provide consumers with a variety of technologically innovative drugs. The major industry players’ most influential approach for gaining more consumers in the intracranial aneurysm market is to use this strategy. For instance, Medtronic obtained United States FDA approval for an extended indication of the Pipeline Flex embolization product. Patients with small or medium-sized and wide-necked aneurysms will benefit from this system. The system was previously used to treat massive wide-necked aneurysms. In the coming years, such activities are projected to boost the company’s sales and global footprint.
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