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Flow Diversion Aneurysm Market Pegged for Robust Expansion by 2024

Flow diversion devices used in unruptured intracranial aneurysm are endovascular devices that are placed in the parent artery rather than the aneurysm sac through a minimally invasive procedure. They use the principle of altering hemodynamics, which results in gradual and timely thrombosis of the aneurysm. Flow diverters are low-porosity devices that are used in the treatment of previously untreatable giant and wide neck aneurysms. Unruptured intracranial aneurysms affect people aged over 50 years. Also, the probability of incidence of unruptured intracranial aneurysms in women is nearly two times than that of men.

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Rise in number of clinical trials proving higher efficacy of flow diversion aneurysm treatment, increase in off-label use in high growth potential developing countries, rising prevalence of asymptomatic aneurysm in aged population, and increase in focus of research institutes and universities on the development of flow diverters are some of the factors fueling the expansion of the global flow diversion aneurysm market. Rise in research and development activities for evaluating relations of various aneurysms and increase in approved indications for treatment serve as excellent opportunities for the expansion of the global flow diversion aneurysm market. However, presence of alternative therapies such as surgical clipping, neurovascular embolization coiling, etc. that are used for the treatment of both ruptured as well as un-ruptured intracranial aneurysms have been available for a long duration in the market which could restrain the expansion of the global flow diversion aneurysm market.

The global flow diversion aneurysm market can be segmented based on product, end-user, and region. Based on product, the global flow diversion aneurysm market can be categorized into SILK flow diverter, pipeline embolization device, SURPASS flow diverter, and others. The pipeline embolization device is widely used for the treatment of intracranial aneurysm. It has received FDA approval as well as the CE mark. The SURPASS flow diverter and silk flow diverter are marketed only in Europe due to CE mark approval. These devices are likely to receive FDA approval during the forecast period. The others segment mainly contains pipeline devices such as Flow Re-Direction Endoluminal Device (FRED) and Sphere, which are expected to receive regulatory approval during the early forecast period. Anti-platelet therapy is also often administered to patients undergoing flow diverter treatment. This usually includes drugs such as Aspirin and clopidogrel. In terms of end-user, the global flow diversion aneurysm market can be classified into hospitals and specialty clinics.

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Based on region, the global flow diversion aneurysm market can be divided North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Developed regions such as North America and Europe are likely to dominate the global flow diversion aneurysm market during the forecast period due to availability of advanced treatment alternatives, skilled personnel, advanced technology products and rise in prevalence of asymptomatic un-ruptured intracranial aneurysm, especially in the adult population. The market in Asia Pacific is projected to expand at a comparatively high growth rate in terms of value during the forecast period. This is primarily due to significant patient population demanding affordable care, superior technological product development by local manufacturers, and rise in awareness among neurosurgeons regarding availability of novel products due to technical trainings and workshops.

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Key players operating in the global flow diversion aneurysm market are Medtronic (Pipeline embolization device [PED]), Stryker (SURPASS), MicroVention, Inc. (Terumo Corporation) (Flow-Redirection Endoluminal Device [FRED]) and BALT Extrusion SA (SILK). The global flow diversion aneurysm market is also characterized with growing number of emerging market players such as Weill Cornell Medicine Minimally Invasive New Technologies Program (Sphere), and others entering the market.

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