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(Health-NewsWire.Net, August 14, 2020 ) Market Overview
The Global Aneurysm Clips Market is expected to grow at a CAGR of 6.3% during the forecasting period (2019-2026).
Aneurysm clips is a treatment approach to aneurysms that occur on arteries. A brain aneurysm is a common type that seen mostly. Aneurysm clip helps claps an aneurysm or lump that caused on the highway by stopping the blood flow to that area.
Aneurysm clip is used in treating aneurysms for a certain period till an aneurysm shrinks and scar down completely.
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Market Dynamics
The growth in the industry is mainly due to the increasing number of brain aneurysms and associated mortalities globally. There are about 500,000 deaths caused by brain aneurysms every year globally.
Use of metallic aneurysm clips may cause adverse effects when a patient undergoes post-surgical testing such as magnetic resonance imaging (MRI) and computed tomography (CT) scans. Thus this is a critical drawback that hampering the market growth.
The high cost and complications (such as removal of the skull) associated with surgical procedures of aneurysm clips compared to coiling for aneurysms is the necessary restraint that hampering the market growth globally.
Segmentation Analysis
Global Aneurysm clips market is segmented based on material type, aneurysm type, and end user. Based on the material type the market is segmented as titanium, cobalt and other.
Titanium-based aneurysm clips are accounted for the significant share in the market due to high availability and flexible performance of the material.
Based on aneurysm type the market is further segmented as cerebral, thoracic, abdominal, and peripheral. A cerebral aneurysm is a significant segment that accounted for most of the share in the global aneurysm clips market and is mainly due to changing lifestyles and increasing cause of high blood pressure and atherosclerosis, trauma, heredity, and abnormal blood flow.
Geographical Analysis
Based on geography the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the world. North America is expected to have a significant market share in the global aneurysm clips market with increasing Brain Aneurysm patients in the region.
According to the Brain Aneurysm Foundation, around 6 million people in the United States have unruptured brain aneurysm at a prevalence rate of 8 10 persons per 100,000 population per annum.
Competitive landscape
Key players in the global Aneurysm Clips market are Boston Scientific, Medtronic, St. Jude Medical, Codman & Shurtleff, KLS Martin Group, InoMed, Integra LifeSciences, Mizuho America, Stryker Corporation, B Braun and RauMedic.
The industry players are developing innovative clips to be competitive in the market. For instance, in November 2016, News Surgery has developed advanced plastic aneurysm clip in partnership with Advanced Engineering & Technologies GmbH and Institut fόr Verbundwerkstoffe GmbH.
It has an advantage of the patient attending post-surgical checkups via magnetic resonance imaging (MRI) and computed tomography (CT) scans.
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