The Global Aneurysm Clips Market size is expected to reach $102.9 Million by 2028, rising at a market growth of 7.5% CAGR during the forecast period.
Aneurysm clips refers to the commonly conducted surgical procedure to treat aneurysm. An aneurysm commonly occur when the artery wall gets weak, and a huge swelling develops in the artery. The aneurysm clip is a method that is used in treating an aneurysm by putting a metal clasp above the neck of the aneurysm. Typically, aneurysms occur in different shapes and sizes; thus, aneurysm clips are designed in several sizes and shapes.
An aneurysm might be found in various parts of the body, like the aorta (the largest artery in the body), blood vessels of the brain (cerebral aneurysm), the intestines, the neck, the spleen, the kidney, and the vessels in the legs (popliteal aneurysms, femoral, and iliac). However, the aneurysm is mostly located in the aorta, which carries oxygenated blood to the body from the heart.
Aneurysm clips cut off the aneurysm from the blood supply by performing craniotomy and putting an aneurysm clip at the base of aneurysm. This process has been utilized for several years to treat brain aneurysm. The clipping process is not only effective and safe but can also be performed for various kinds of aneurysms, and it even reduces the risk of recurring of aneurysm for patients. Different types of aneurysm clips comprise cobalt chromium clips, titanium clips, and others.
These clips are made from austenitic stainless steels, elgiloy, titanium alloy, phynox, or commercially pure titanium. As the size of the bulge expands, it increases the threat of rupturing the artery. The surgical process may be performed on an unruptured or cracked aneurysm. Biocompatible aneurysm clippings are used as a component of the neurosurgical field and are available in a variety of sizes and shapes. Endovascular clipping and coiling are the least intruding process that could be utilized for open surgery, which could decrease the risk of infection and also involves reinforcing and repairing the damaged blood vessels.
Various restrictions were imposed over the healthcare sector to postpone elective surgeries. Also, the sector faced a shortage of skilled personnel. All this has negatively impacted the market growth for aneurysm clips market. However, the market witnessed a speedy recovery just after the loosening of restrictions as the patients were able to consult the issues with medical professionals. Additionally, it was found that COVID-19 patients could suffer neurological issues. This resulted in several cases of hemorrhagic or ischemia infarction, which enhanced revenues in the neurology profession.
The aneurysm clips market is encountering rapid technological developments, particularly in terms of portability, and miniaturization technologies such as tipsters or clip appliers could be utilized endoscopically or laparoscopically without making substantial incisions on the body of the patient. Such technological developments will probably expand the demand for the aneurysm clips market throughout the predicted period.
The adoption of robotic methods for curing brain and neurological disorders is anticipated to rise because of their capability to enhance performance with accelerated recovery, offer high accuracy, and greater flexibility. Furthermore, these methods are predicted to provide superior surgical outcomes, streamline workflows and processes, and enhance the patient experience. Therefore, the developments in robotics will probably bring the latest trends in the aneurysm clips market in the upcoming years.
A few individuals experienced catastrophic hemorrhage due to corrosion of clips, and those who had an incompatible clip implanted died during an MR imaging session. Therefore, the American society for testing and materials committee has implemented strict regulations for measurement of clip closing forces and brain clip biocompatibility. There are also strict norms to assure bio-magnetic compatibility to prevent unfortunate occurrences and stimulate the safety of the patients. These factors are significantly responsible for obstructing the development of the aneurysm clips market over the projection period.
Based on material, the aneurysm clips market is segmented into titanium aneurysm clips, polymer, and others. In 2021, the titanium aneurysm clips segment dominated the aneurysm clips market with the maximum revenue share. The features of titanium aneurysm clips, like durability, inertness, lightness, non-reactivity, and high tensile strength, surge the usage of titanium aneurysm clips in removing the aneurysm. In addition, the compatibility with imaging modalities, mainly CT scans, MRI, and X-rays, and its capability to effectively secure the closure of delicate vessels during treatment makes it a preferred option as surgical equipment, thus propelling the growth of the segment.
On the basis of indication, the aneurysm clips market is fragmented into stroke, cerebral artery stenosis, cerebral aneurysm, and others. In 2021, the stroke segment held the largest revenue share in the aneurysm clips market. This is due to increasing hypertension, stroke prevalence, and several other neurological illnesses. The growth in the occurrence of stroke worldwide is because of the unhealthy lifestyle, the rise of the elderly population, and hypertension. These factors will support the development of the aneurysm clips market in the upcoming years.
By end-use, the aneurysm clips market is divided into hospitals, ambulatory surgical centers, and others. In 2021, the ambulatory surgical centers covered a considerable revenue share in the aneurysm clips market. This is due to better patient accessibility, decreased out-of-pocket expenses, and reduced facility costs. Unfortunately, most of the Asia Pacific and Middle East nations still don’t have the infrastructure or economy to set up ambulatory centers. However, these nations are working to increase ambulatory centers to reduce the burden associated with surgical operations in hospitals. These factors will increase the use of aneurysm clips in ambulatory surgical centers in the upcoming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 63 Million |
| Market size forecast in 2028 | USD 102.9 Million |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 7.5% from 2022 to 2028 |
| Number of Pages | 211 |
| Number of Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Material, Indication, End-use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the aneurysm clips market is analysed across North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region dominated the aneurysm clips market with the maximum revenue share. This is attributed to the increasing occurrence of neurological disorders, rising demand for minimally, and growing elderly population are propelling the growth of the aneurysm clips market in this region. In addition, the increase in aneurysm clips demand is also supported by the rapid adoption of the latest technologies and the presence of major market players.
Free Valuable Insights: Global Aneurysm Clips Market size to reach USD 102.9 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Abbott Laboratories, Stryker Corporation, Integra LifeSciences Holdings Corporation, Boston Scientific Corporation, B. Braun Melsungen AG (Aesculap, Inc.), Galvani Bioelectronics, Ltd. (GlaxoSmithKline plc and Verily Life Sciences), KLS Martin Group, Adeor Medical AG, and Evonos GmbH & Co.KG.
By Material
By End-use
By Indication
By Geography
The global Aneurysm Clips Market size is expected to reach $102.9 Million by 2028.
Rising financial assistance for innovation and embracement of surgical robots are driving the market in coming years, however, Strict regulatory compliances obstruct the scope of product to enter the market restraints the growth of the market.
Medtronic PLC, Abbott Laboratories, Stryker Corporation, Integra LifeSciences Holdings Corporation, Boston Scientific Corporation, B. Braun Melsungen AG (Aesculap, Inc.), Galvani Bioelectronics, Ltd. (GlaxoSmithKline plc and Verily Life Sciences), KLS Martin Group, Adeor Medical AG, and Evonos GmbH & Co.KG.
The Hospitals segment acquired maximum revenue share in the Global Aneurysm Clips Market by End-use in 2021 thereby, achieving a market value of $66 Million by 2028.
The North America market dominated the Global Aneurysm Clips Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $40 billion by 2028.
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