The global flow diverters market is on track for remarkable growth, with revenues anticipated to reach a staggering USD 1.3 billion by 2032. This projection comes from a recent report by Future Market Insights, which forecasts a compelling Compound Annual Growth Rate (CAGR) of 15.3% over the next decade.
The market’s potential is further underscored by its impressive starting point. In 2021, the flow diverters market is estimated to have generated USD 273 million in revenue. This robust foundation sets the stage for an absolute revenue potential of USD 992.9 million over the next ten years.
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Flow Diverters Revolutionize Neurovascular Treatment:
Flow diverters have emerged as a game-changer in the treatment of intracranial aneurysms, a serious threat to patients suffering from neurovascular disorders. These mesh-like devices are implanted within blood vessels to divert blood flow away from the aneurysm, promoting natural healing and significantly reducing the risk of rupture.
This innovative technology offers distinct advantages over traditional approaches like surgical clipping or endovascular coiling. Studies have shown that flow diverters deliver improved clinical results, making them a compelling option for both patients and healthcare professionals.
Market Growth Driven by Innovation and Rising Awareness:
Several factors contribute to the anticipated surge in the flow diverters market. These include:
- Advancements in Technology: Continuous advancements in flow diverter design and materials are improving their efficacy and expanding their application range.
- Increased Aneurysm Prevalence: The incidence of cerebral aneurysms is on the rise, creating a greater demand for effective treatment solutions.
- Growing Awareness: Heightened awareness among healthcare professionals regarding the benefits of flow diverters is driving wider adoption of this technology.
Key Takeaways from the Market Study:
- Global Flow Diverters market is expected to reach a valuation of USD 1.3 Billion by growing at a CAGR of 3% for the next 10 years.
- The current worth of Global Flow Diverters Market is USD 273 Million and is expected to offer an absolute dollar opportunity of USD 992.9 Million in coming 10 years.
- Flow Diverters of greater than 5 mm is expected to be the largest contributor in the market. Revenue through this segment is projected to grow at a CAGR of 13% during the forecasted period.
- North America is likely to maintain its dominant position in the market while growing at a CAGR of 7% for the period between 2022 and 2032.
- The US holds the largest market share in the market with the absolute dollar opportunity of USD 301 Million during the period between 2022 and 2032.
The COVID-19 epidemic had only a minor influence on the flow diverter industry because a large number of elective brain surgeries were postponed, and demand is expected to pick up once restrictions are lifted. As a result, the pandemic had no long-term impact on the market, comments a Future Market Insights analyst.
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Competitive Landscape:
Players in Flow Diverters market are concentrating their research efforts on addressing the shortcomings of present therapy techniques. Their huge success in treating brain aneurysms has motivated them to pay more attention to flow diverters. With the diverse portfolio of products in hand, industry players can capture a considerable percentage of the market. These businesses are strategically forming alliances and making acquisitions to update their clients with cutting-edge technological advancements.
Some of the key players operating in the Global Flow Diverters market are Medtronic, Stryker Corporation, MicroVention, Inc. (Terumo Corporation), BALT Extrusion SA, MicroPort Scientific Corporation, Penumbra Inc., Phenox GmbH, Acandis.
Below mentioned are some recent developments in the Flow Diverters Market:
- In Feb 2022, Stryker Corporation acquired Vocera Communications, a leader in digital care coordination, to accelerate its digital aspirations, advance its innovations and enable safer patient care.
- In April 2021, Medtronic received US FDA approval for the Pipeline Flex Embolization Device, an advanced Flow Diversion Therapy with shield technology.
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Market Segments Covered In Flow Diverters Market Analysis:
By Product Type:
- 2-3 mm Flow Diverters
- 3-4 mm Flow Diverters
- 4-5 mm Flow Diverters
- >5 mm Flow Diverters
By Region type:
- North America
- Latin America
- Europe
- APAC
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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