Aneurysm Clips Market Valuation To Reach USD 2.0 Bn By 2032 Growing At A CAGR Of 6.2% | Market.Us

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New York, May 09, 2023 (GLOBE NEWSWIRE) -- The global aneurysm clips market in terms of revenue was estimated to be worth USD 1.1 Bn in 2022 and is poised to reach USD 2.0 Bn by 2032 , growing at a CAGR of 6.2% from 2022 to 2032.

Aneurysm Clips are small metal clips used in the medication of various aneurysms such as cerebral, thoracic, abdominal, and peripheral - weak areas in blood vessel walls which can bulge and rupture. Clips are placed at the base of aneurysms to restrict blood flow into weakened areas and thus prevent it from rupturing and causing bleeding there. The growing prevalence of laparoscopic surgical procedures and the increasing use of stainless steel alloys such as titanium and cobalt in aneurysm clips are anticipated to propel growth in this market. Furthermore, an increase in unhealthy lifestyles, an aging geriatric population, and more intracranial aneurysm rupture cases will all play a role.

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Key Takeaway:

• By material , in 2022, the aneurysm clips market was dominated by the titanium segment due to its high strength and compatibility.
• By type , the cerebral segment dominated the largest market share in type analysis and accounted for the largest revenue share in the aneurysm clips market in 2022.
• By disease indication , the stroke segment dominated the largest market share in disease indication analysis
• By end-user , the hospital segment dominated the largest market share in end-user analysis
• In 2022, North America dominated the market with the highest revenue share of 26.5%.
• APAC is anticipated to have the highest CAGR among all the regions.
• APAC is expected to grow at a greater pace owing to the growing incidence of cerebral aneurysms, rising healthcare expenses, and government initiatives to improve healthcare infrastructure in the region.

Factors affecting the growth of the Aneurysm Clips industry

There are several factors that are affecting the growth of the aneurysm clips industry . These include:

• Increasing prevalence of aneurysms: Aneurysms are an increasing health concern across the world. The growing occurrence of aneurysms is anticipated to propel the demand for aneurysm clips which are used in the surgical treatment of aneurysms.
• Technological Advancements: The development of self-closing aneurysm clips has improved the safety and efficiency of aneurysm surgeries. These advancements are expected to propel the demand for aneurysm clips.
• Increasing healthcare expenditure: Governments across the world are rising their healthcare expenditure to improve healthcare infrastructure and services. This rise in healthcare expenditure is anticipated to propel the demand for aneurysm clips.
• The surge in demand for minimally invasive surgeries: Minimally invasive surgeries are becoming gradually popular as they offer various advantages instead of traditional open surgeries including quicker recovery times and less complications. Aneurysm clips are used in both open and minimally invasive surgeries but the demand for aneurysm clips used in minimally invasive surgeries is expected to grow faster.
• Regulatory hurdles: The aneurysm clips industry is highly synchronized and the approval process for new aneurysm clips can be time-consuming and expensive. Regulatory hurdles can reduce the growth of the aneurysm clips industry.

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Top Trends in Global Aneurysm Clips Market

There are many trends in the aneurysm clip market that are changing the landscape. The growing use of advanced imaging techniques like CT angiography or 3D rotational angle angiography which allow for accurate diagnosis and planning of aneurysm cutting operations is one of the key trends. A second important trend is a demand for aneurysm clip designs that are customized to each patient's anatomical characteristics. This improves surgical outcomes and reduces the chance of complications. Aneurysm medication is now being administered minimally invasively such as endovascular coiling. This has led to hybrid procedures that combine surgical clippings with endovascular coiling. Market growth is expected to be boosted by the entry of new market players and increased R&D investments in developing innovative aneurysm clippings. The market for aneurysm clips market will also benefit from the acceptance of remote monitoring and telemedicine technologies that allow for post-operative care.

Market Growth

The aneurysm clips market has been experiencing steady growth over the previous few years and this can be expected to continue in the upcoming years. Aneurysm clips are mainly used for the medication of cerebral aneurysms which are abnormal bulges or weak spots in the walls of blood vessels in the brain. The growing prevalence of cerebral aneurysms including advancements in aneurysm clip technology is driving the growth of the aneurysm clips market. Also, increasing demand for minimally invasive procedures and growing healthcare expenditure are contributing to market growth.

Regional Analysis

North America is predicted to be the leading region in the global aneurysm clips market holding a market share of 26.5% and projecting a CAGR of 6.75% during the forecast period. This region's healthcare infrastructure, compliant repayment policies, and high incidences of cerebral aneurysms fuel this demand. Asia-Pacific will witness substantial growth due to an increased incidence of cerebral aneurysms, rising healthcare expenses, and government initiatives to improve infrastructure within this region.

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Scope of the Report

Report Attribute	Details
Market Value (2022)	USD 1.1 billion
Market Size (2032)	USD 2.0 billion
CAGR (from 2023 to 2032)	6.2%
North America Revenue Share	26.5%
Historic Period	2016 to 2022
Base Year	2022
Forecast Year	2023 to 2032

Market Drivers

The aneurysm clip market is being driven by an increase in cerebral aneurysms and surgical operations to treat them. The growing elderly population changing lifestyle habits and increased risks such as high blood pressure and smoking are all contributing to an increase in cerebral aneurysms. Therefore, there is an increasing demand for effective aneurysm treatments such as clipping. Technological developments in aneurysm clipping procedures and tools have contributed to market growth such as the development of specific microsurgical equipment and imaging technologies that enable surgeons to perform more precise minimally invasive surgeries with improved patient outcomes and shorter recovery times. Furthermore, rising healthcare expenses, expanding healthcare infrastructure, and growing awareness regarding aneurysm treatment options in developing economies are further fueling market expansion.

Market Restraints

The aneurysm clips market faces several obstacles that limit its growth potential. One major factor is the rising adoption of endovascular coiling procedures instead of surgical clipping due to their minimally invasive nature and quicker recovery time. Also, other treatments like stents and flow diverters further decrease the demand for aneurysm clips. Furthermore, surgery carries risks such as bleeding, infection, and nerve damage which, combined with the high costs associated with such surgeries and limited repayment policies pose challenges to growth in this market.

Market Opportunities

The aneurysm clips market offers unique growth prospects due to technological advancements and an increasing prevalence of cerebral aneurysms. The development of advanced aneurysm clips such as shape memory alloys is intended to improve surgical outcomes and minimize the risk of complications caused by rising demand. Additionally, rising healthcare expenses and government initiatives to upgrade infrastructure in emerging countries offer excellent prospects for market players to expand their operations. Furthermore, the growing trend towards minimally invasive procedures for aneurysm treatment such as hybrid endovascular and surgical techniques is expected to drive demand for aneurysm clips. Due to an elderly population and increasing incidence of cerebral aneurysms the market for aneurysm clips is projected to expand significantly over the upcoming years.

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Report Segmentation of the Aneurysm Clips Market

Material Insight

On the basis of Material, the aneurysm clips market is divided into titanium, polymer, cobalt, and other materials. Of these materials, the titanium segment is the most lucrative growth trajectory with a projected CAGR of 6.3% until 2022; its total revenue share will reach 82% by 2022. Titanium aneurysm clips boast long strength, inertness, non-reactivity, high tensile strength, and lightness which make them popular surgical equipment choices due to their compatibility with imaging equipment like MRI, CT, X-rays as well as their capability to protect vessels during surgeries make them an especially suitable choice due to less interference from MRI or CT scanning methods.

Type Insight

By type, the market is divided into cerebral, thoracic, abdominal, and peripheral aneurysm clips. Cementing cerebral aneurysms is the most lucrative segment in 2022 with a market share of 30% and a projected CAGR of 7.1% until 2022. These aneurysms arise within the blood vessels of the brain and can cause serious complications such as bleeding in the brain if they rupture. On the other hand, abdominal aneurysms have also become increasingly common due to risk factors like smoking, high blood pressure, and genetic disorders affecting weak spots within arteries due to too much expansion or ballooning out too quickly due to weak spots within arteries themselves.

Disease Indication Insight

By disease indication, the market is divided into stroke, cerebral artery stenosis, cerebral aneurysm, and other indications. Of these diseases, stroke is expected to be the most lucrative segment in 2022 with a market share of 57% and a projected CAGR of 6.9%. This growth can be attributed to rising hypertension rates worldwide as well as an aging population and high blood pressure; all contributing factors that will continue driving demand for aneurysm clips over the coming years.

End User Insight

By end-user, the market is segmented into hospitals, ambulatory surgical centers, neurology centers, and other institutions. The hospital segment is expected to be the most lucrative end-user segment in the global aneurysm clips market boasting a revenue share of 66% and a projected CAGR of 7.3% over the forecast period. This can be attributed to an increase in surgical operations such as abdominal and neurological laparoscopies which were more frequently performed at hospitals using clipping tools. Hospital-based surgical operations had a positive effect on segment growth. however, ambulatory surgical centers are projected to experience higher CAGRs during the forecast period due to lost incomes, reduced facility expenses, and improved patient convenience.

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Market Segmentation

Based on Material

• titanium
• Polymer
• cobalt
• Other Materials

Based on Type

• cerebral
• Thoracic
• abdominal
• Peripheral

Based on Disease Indication

• Stroke
• Cerebral Artery Stenosis
• Cerebral Aneurysm
• Other Disease Indications

Based on End-User

• Hospitals
• Ambulatory Surgical Centers
• Neurology Centers
• Other End-Users

By Geography

• North America

• • The US
  • Canada
  • Mexico

• Western Europe

• • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe

• Eastern Europe

• • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC

• Latin America

• • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America

• Middle East & Africa

• • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Competitive Landscape

Emerging key players are employing various strategic tactics to expand their businesses, such as developing innovative medical equipment. Companies invest heavily in research and development to provide better patient accessibility, which meets the growing demand for minimally invasive procedures. To boost global revenue from aneurysm clips market companies are employing various tactics such as mergers and acquisitions, expansions, and technological innovations.

Some of the major players include:

• Aesculap, Inc.
• Datenschutz/Rebstock Instruments GmbH
• Mizuho Medical Co., Ltd.
• adeor medical AG
• evonos GmbH & Co. KG
• Integra LifeSciences
• Other Key Players

Recent Development of the Aneurysm Clips Market

• In 2021, Integra LifeSciences revealed its Integra CUSA Clarity Ultrasonic Surgical Aspirator for use in neurosurgery. The equipment is designed to utilize in the removal of brain tumors and other types of aneurysms.
• In 2021, Medtronic stated the launch of the Infinity Occipital Nerve Stimulation (ONS) system for the medication of chronic migraine. The company also received FDA approval for its Intellis platform with a new software application called SmartPath.

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