Flow Diverters Market Size & Share, By Diameter Size (2-3 mm, 3-4 mm, 4-5 mm, >5 mm), Regional Forecast, Industry Players, Growth Statistics Report 2023-2030

Market Outlook:

Flow Diverters Market size surpassed USD 255.43 Million in 2022 and is poised to reach USD 794.84 Million, growing at over 15.2% CAGR between 2023 and 2030. The market is driven by various factors such as technological advancements, growing prevalence of cerebrovascular diseases, and increasing demand for minimally invasive treatment options.

• Base Year Value (2022): USD 255.43 Million
• CAGR (2023-2030): 15.2%
• Forecast Year Value (2030): USD 794.84 Million
• Historical Data Period: 2018-2021
• Largest Region: North America
• Forecast Period: 2023-2030

Market Dynamics:

Growth Drivers & Opportunities:

1. Technological Advancements: The incorporation of advanced materials and design improvements in flow diverters has enhanced their efficacy and safety, thereby driving their adoption in the market. The development of next-generation flow diverters, such as those with biodegradable scaffolding, has further broadened the application scope.

2. Rising Prevalence of Cerebrovascular Diseases: The global burden of cerebrovascular diseases, including intracranial aneurysms, is increasing. Flow diverters offer a promising treatment option for patients who are not candidates for traditional surgical interventions or endovascular coiling techniques. The growing incidence of these diseases is expected to propel the demand for flow diverters in the market.

3. Minimally Invasive Treatment: Flow diverters provide a minimally invasive alternative to open surgical procedures, enabling quicker patient recovery, shorter hospital stays, and reduced post-operative complications. The preference for minimally invasive treatments among both patients and healthcare providers is anticipated to drive the market growth of flow diverters.

 

Industry Restraints & Challenges:

Report Scope

Report Coverage	Details
Segments Covered	Diameter Size, Region
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Medtronic plc, Stryker, MicroVention, (Terumo), Balt, MicroPort, Scientific, Phenox GmbH, Acandis GmbH, Cerus Endovascular, CERENOVUS (Johnson & Johnson Services,), InspireMD, Inc

1. Limited Awareness: Despite their advantages, flow diverters are still relatively new in the market. Limited awareness among healthcare professionals and patients about the benefits and appropriate utilization of flow diverters poses a challenge to market growth. Increased educational initiatives and promotional activities are necessary to address this obstacle.

2. High Cost of Treatment: The cost of flow diverters and relevant procedures can be substantial, limiting their accessibility, particularly in developing regions. High treatment expenses may hinder market growth, emphasizing the need for cost-effective alternatives and broader insurance coverage for patients.

3. Regulatory Hurdles: Flow diverters are subject to rigorous regulatory processes for approvals and clearances. Stringent regulations and the lengthy time required for regulatory reviews can impede market expansion. Collaborations between manufacturers and regulatory authorities are essential to streamline the approval process and reduce time delays.

In conclusion, the flow diverters market possesses substantial growth potential, driven by advancements in technology, increasing burden of cerebrovascular diseases, and the preference for minimally invasive treatments. Nevertheless, addressing limited awareness, high treatment costs, and regulatory challenges are essential for sustained market growth.

Regional Forecast:

The Flow Diverters Market is expected to witness significant growth across various regions, including North America, Asia Pacific, and Europe.

North America:

North America is expected to dominate the flow diverters market during the forecast period. The region's dominance can be attributed to the rising prevalence of cerebrovascular diseases, increasing research activities, and a favorable reimbursement scenario. Moreover, advanced healthcare infrastructure and technological advancements further contribute to the region's market growth.

Asia Pacific:

The flow diverters market in Asia Pacific is projected to register substantial growth in the coming years. Factors such as a growing geriatric population, increasing healthcare expenditure, and improving healthcare infrastructure are driving the demand for flow diverters in this region. Additionally, rising awareness about minimally invasive procedures and the presence of a large patient pool are likely to boost market growth in Asia Pacific.

Europe:

Europe is anticipated to experience significant growth in the flow diverters market. The presence of well-established healthcare systems, high disposable income, and increasing prevalence of cerebrovascular diseases are key factors influencing the market growth in this region. Additionally, favorable government initiatives and investments in research and development activities further propel market expansion.

Segmentation Analysis:

1. By Application:

- Intracranial Aneurysms

- Intracranial Stenosis

- Others

Intracranial Aneurysms:

Market growth in this sub-segment is driven by the rising prevalence of intracranial aneurysms globally. Flow diverters are proven to be effective in preventing aneurysm rupture and reducing the chances of future bleeding. The increasing adoption of minimally invasive procedures, advancements in flow diversion technologies, and the rising geriatric population contribute to the growth of this sub-segment.

Competitive Landscape:

The flow diverters market is highly competitive and characterized by the presence of several prominent players. Key market players include:

1. Medtronic plc

2. MicroVention, Inc. (Terumo Corporation)

3. Stryker Corporation

4. Balt Extrusion S.A.

5. Penumbra, Inc.

6. MicroPort Scientific Corporation

7. Shape Memory Medical Inc.

8. InspireMD Inc.

9. Phenox GmbH

10. Acandis GmbH

These market players focus on strategic initiatives such as mergers and acquisitions, collaborations, and product advancements to strengthen their market position. Innovation and a strong distribution network are the key strategies adopted by these companies to gain a competitive edge in the flow diverters market.