Yahoo Finance The cerebral aneurysm clips market is expected to grow from US$ 53,810.74 thousand in 2021 to US$ 81,960.74 thousand by 2028
It is estimated to grow at a CAGR of 6. 3% from 2022 to 2028. The report highlights trends prevailing in the market along with factors driving its growth. The growth of the cerebral aneurysm clips market is attributed to the increasing prevalence of brain aneurysm and associated risk factors and rise in research and development activities for treating cerebral aneurysms.
New York, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cerebral Aneurysm Clips Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material Type, Indication, Condition, and End User" - https://www.reportlinker.com/p06321022/?utm_source=GNW
However, the high cost of procedures hinders the overall market growth.
A brain aneurysm or cerebral aneurysm is the development of a bulge in the brain’s blood vessels.The bulge puts pressure on the nerves or brain tissues, and rupture or burst can cause brain bleeding, which can be fatal to a patient.
Factors such as genetic conditions, arteriovenous malformations, untreated high blood pressure, and smoking cause brain aneurysms.
The more established method of treating aneurysms is microsurgical clipping.The first aneurysm ever treated by surgical clipping was performed at Johns Hopkins Hospital by Dr Walter Dandy on March 23, 1937.
During microsurgical clipping, a small metal clip is used to stop blood flow into the aneurysm.A craniotomy is performed to create an opening in the skull to reach the aneurysm in the brain.
The clip is placed on the neck (opening) of the aneurysm to obstruct the flow of blood and remains inside the brain.
The growth of the cerebral aneurysm clips market is prominently attributed to the increasing prevalence of brain aneurysm cases worldwide. According to data published by the Brain Aneurysm Foundation in 2020, ~6.5 million people in the US, i.e., 1 in 50 persons, suffer from an unruptured brain aneurysm every year. Moreover, ~30,000 suffer a cerebral aneurysm rupture yearly, indicating that a cerebral aneurysm ruptures every 18 minutes. According to the Brain Aneurysm Foundation data, ~40.0% of ruptures are fatal and need intensive care and attention. According to studies conducted by the National Institutes of Health (NIH), ~3–5% of Americans might have an aneurysm in their lifetime. Per the National Library of Medicine information, 2022, the global prevalence of cerebral aneurysms is ~3.2%, with a mean age of 50 and an overall 1:1 gender ratio; this ratio changes significantly among the people of age 50 and above to reach 2:0, with the predominance of females. The rate of rupture causing subarachnoid hemorrhage (SAH) is ~10 per 100,000, which may be greater in Finnish and Japanese populations, among others.
Further, an increasing commonness of risk factors associated with cerebral aneurysms—smoking, insomnia, and high blood pressure—are anticipated to drive the market growth.
• According to a 2021 research study funded by the British Heart Foundation UK, smoking, insomnia, and high blood pressure are major risk factors for cranial aneurysm and aneurysmal SAH.
• According to the data published by the Centers for Disease Control and Prevention (CDC) in 2018, ~14 of 100 people in the US smoke cigarettes. Apart from smoking and tobacco consumption, hypertension is another prominent factor raising the prevalence of cerebral aneurysms. According to World Health Organization (WHO), in 2019, ~1.13 billion people worldwide suffered from hypertension.
• According to the research study titled "Estimating the Global Incidence of Aneurysmal Subarachnoid Hemorrhage: A Systematic Review for Central Nervous System Vascular Lesions and Meta-Analysis of Ruptured Aneurysms," 2018, ~500,000 individuals in the world are likely to suffer from SAH each year, with almost two-thirds in low- and middle-income countries.
Thus, rising prevalence of brain aneurysm cases and their associated risk factors are responsible for the growth of the cerebral aneurysm clips market.
Based on material type, the cerebral aneurysm clips market is categorized into pure titanium and titanium-based alloys, cobalt–chromium-based alloys, phynox, and others.In 2021, the pure titanium and titanium-based alloys segment held the largest market share; however, the phynox segment is anticipated to register the highest CAGR from 2022 to 2028.
The cerebral aneurysm clips market, by indication, is segmented into saccular aneurysm, fusiform aneurysm, and mycotic aneurysm.The saccular aneurysm segment accounted for the largest market share in 2021; however, the mycotic aneurysm segment is anticipated to register the highest CAGR in the market from 2022 to 2028.
Based on condition, the cerebral aneurysm clips market is segmented into unruptured aneurysm and ruptured aneurysm.The unruptured aneurysm segment held a larger market share in 2021; however, the market for the ruptured aneurysm segment is anticipated to grow at a higher CAGR in the market from 2022 to 2028.
Based on end user, the cerebral aneurysm clips market is segmented into hospitals, neurology centers, ambulatory surgical centers, and others. The hospitals segment accounted for the largest market share in 2021; however, the neurology center segment is estimated to register the highest CAGR in the market during 2022–2028.
Impact of COVID-19 Pandemic on Cerebral Aneurysm Clips Market
The global outbreak of SARS-CoV-2 had a slight negative impact on the growth of the cerebral aneurysm clips market due to delays in production and supply, and the increased focus of research institutes on the management of the disease.In March 2020, Medtronic, one of the key players in the brain aneurysm treatment market, launched a new ventilator platform for COVID-19 patients.
To cope with the increasing number of COVID patients, several elective brain surgeries have been postponed in the US.For example, in 2021, Memorial Hospital at Gulfsport canceled several brain surgeries as the hospital was overwhelmed with COVID-19 patients.
The production of medical supplies is highly concentrated in Mexico which plays a critical role in ensuring the availability of supplies across developing countries, which have huge demands but do not have their own production capabilities.Since March 2020, there have been restrictions on the export of medical supplies.
However, many companies are redirecting their focus to research and development activities related to measuring the impact of COVID-19 on neurological patients. For instance, the American Academy of Neurology (AAN) is engaged in guiding the care of neurology patients affected by COVID-19. The organization is also developing a platform to assess the impact of COVID-19 on the field of neurology.
Various organic and inorganic strategies are adopted by companies operating in the cerebral aneurysm clips market.The organic strategies mainly include product launches and approvals.
Further, inorganic growth strategies witnessed in the market are acquisitions, collaborations, and partnerships.These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth.
Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios. A few significant developments by key players in the cerebral aneurysm clips market are listed below.
• In August 2021, Biomedica Italia extended its partnership with Peter Lazic GmbH for the distribution and manufacturing of L-Aneurysm Clip and microsurgery instruments for neurosurgery. The contract was signed for the next 5 years.
The American Medical Association, British Journal of Surgery, and National Library of Medicine are a few of the major secondary sources referred to while preparing the report on the global cerebral aneurysm clips market.
Read the full report: https://www.reportlinker.com/p06321022/?utm_source=GNW
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