Increase in number of product launch and product approval for flow diverters and technological advancements in the healthcare sector drive the global flow diverters market. North America held the highest share in 2021, and is expected to continue its dominance by 2031. The Covid-19 pandemic caused a negative impact on the revenue of the global flow diverters market as the demand for flow diverter devices decreased.
Portland, OR, Nov. 27, 2022 (GLOBE NEWSWIRE) — A new business intelligence report released by Allied Market Research, the global Flow Diverters Market generated $251.50 million in 2021, and is expected to reach $1.04 billion by 2031, witnessing a CAGR of 15.3% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, value chain, top segments, and competitive landscape. This report provides detailed information to assist market players, stakeholders, investors, and startups in determining strategies to continue growth and attain competitive edge in the market.
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Report coverage & details:
|Market Size in 2021||$251.50 million|
|Market Size in 2031||$1.04 billion|
|No. of Pages in Report||301|
|Segments covered||Type, Application, End User, and Region.|
|Drivers||Increase in number of product launch and product approval for flow diverters|
|Technological advancements in the healthcare sector|
|Opportunities||Increase in prevalence of cerebral aneurysm and hypertension|
|Surge in geriatric population|
|Restrains||Side effects associated with flow diverters|
- The Covid-19 pandemic caused a negative impact on the revenue of the global flow diverters market. Owing to shift in resources to take care of increase in number of Covid-infected patients, there was disruption in consultation for diseases including cerebral aneurysm and hypertension. This, in turn, restrained the demand of flow diverters devices.
- Many clinics were closed due to lockdown restrictions and focus on urgent medical procedures. This, in turn, reduced the demand for flow diverters. The number of patient visits to clinics also reduced considerably.
- The demand for flow diverters is expected to rise post-pandemic as the hospitals and clinics begin their operations with full capacity.
The research provides a detailed segmentation of the global flow diverters market based on type, application, end user, and region. The research analyzes each segment and sub-segments for identifying the largest revenue generating and fastest-growing segments for market players, investors, and stakeholders. Market size and estimations for each segment and its sub-segments are provided in the report to help market players determine the steps to be taken for achieving the growth.
Based on type, the pipeline embolization device segment held the highest share in 2021, contributing to more than one-third of the total share, and is expected to continue its leadership status throughout the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 16.0% from 2022 to 2031. The report also analyzes the segments including silk flow diverter, surpass flow diverter, flow redirection endoluminal device, and others.
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Based on application, the cerebral aneurysms segment contributed to the highest share in 2021, accounting for more than three-fifths of the global flow diverters market, and is estimated to continue its lead in terms of revenue during the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 15.8% from 2022 to 2031. The research also studies the segments including multiple intracranial aneurysms and others.
Based on end user, the hospital and clinics segment contributed to the largest share in 2021, accounting for around two-thirds of the global market, and is expected to maintain its dominance by 2031. Moreover, this segment is projected to grow at the highest CAGR of 15.6% during the forecast period. The research also discusses the ambulatory surgical center segment.
Based on region, North America held the highest share in 2021, contributing to more than two-fifths of the global flow diverters market, and is expected to continue its dominance by 2031. However, Asia-Pacific is projected to grow at the fastest CAGR of 16.4% during the forecast period. The research also analyzes regions including Europe and LAMEA.
The research provides detailed analysis of leading players of the global flow diverters market. Key players analyzed in the research include Acandis, InspireMD, BALT Extrusion SA, Medtronic, Johnson and Johnson, Microvention, MicroPort Scientific Corporation, Phenox, Penumbra Inc., and Stryker Neurovascular.
The report analyzes these key players and highlights various strategies such as new product launches, partnerships, expansion, and others to raise their market penetration and strengthen their position in the market. The report offers a detailed analysis that outlines product portfolio, operating segments, business performance, and key developments of each market player.
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