Flow Diverters Market Size, Share, and COVID-19 Impact Analysis, By Product (Pipeline Embolization Device (PED), Silk, Flow Re-direction Endoluminal Device (FRED), p64 Flow-Modulation Device, Surpass Flow-Diverter, and Others) By Material (Cobalt-Chromium, Nitinol-Platinum, and Cobalt-Chromium-Platinum), By Application (Intracranial Aneurysm, Aortic Aneurysm, and Others), By End User (Hospitals & Ambulatory Surgical Centers, Specialty Clinics, and Others), and Regional Forecast, 2024-2032

Flow-diverter devices (FDDs) are implantable vascular devices used to treat aneurysms. They are new-generation stents placed in the parent artery at the level of the aneurysm neck to disrupt or divert the intra-aneurysmal flow, thus favoring intra-aneurysmal thrombosis. These aneurysms can be treated by two procedures which are the endoluminal procedure and the intrasaccular procedure. In the endoluminal procedure, a diverter is placed in the artery to prevent the blood from flowing into the aneurysm saccular. In the intrasaccular procedure, a coil is placed inside the aneurysm saccular to divert the blood flow away.

An undetected aneurysm can lead to severe complications such as stroke. A large population is unknowingly affected by stroke as its symptoms are minor and common for many diseases. Increasing awareness about the diagnosis and treatment of aneurysms can lead to detection and timely treatment. Minimally invasive surgeries commonly do treatment of aneurysms through certain products such as flow diverters, catheters, and others as they inflict minimum damage. The increase in these surgeries will increase the demand for such devices, leading to market growth.

• In April 2022, according to an article published by Cleveland Clinic, un-ruptured brain aneurysms have a prevalence of 2% to 5% of healthy people globally, and about 25% of them have multiple aneurysms. This prevalence indicates that 2% to 5% of the healthy population is at risk of stroke.

Moreover, contributing to the increasing demand for minimally invasive devices such as flow diverters, certain companies are actively accelerating their R&D activities to introduce products with advanced technology in the flow diverters market.

• In February 2022, MicroVention announced its first U.S. patient treated with FRED X Flow Diverter featuring X Technology, a newly developed endoluminal technology for treating aneurysms.


• In August 2020, Stryker, a medical technology company, launched Surpass Evolve Flow Diverter after getting its U.S. Food and Drug Administration approval. 

Furthermore, as the prevalence of stroke increases, government, and non-government organizations are taking vigorous steps to update their services and provide people with the best and most efficient services in the healthcare market, especially after the pandemic. However, the lack of awareness about aneurysms among people leading to fewer diagnoses and treatment through surgeries is limiting the market growth of flow diverters. 

Impact of COVID-19 on the Flow Diverters Market

The COVID-19 pandemic negatively impacted all markets, including the medical device market, as the focus was on demand for infection control products. Non-essential surgeries were postponed due to the shortage of medical staff and fear of increasing infection with the COVID-19 virus. This postponement caused a rise in deaths of several diseases due to a lack of medical attention. 

• For instance, the National Library of Medicine published a review stating that the number of deaths caused by stroke in 2017 was 2.19 per 100,000 persons and steadily increased to 6.55 per 100,000 persons in the pandemic year 2019. These statistics kept increasing post-COVID-19 to 38.8 deaths per 100,000 persons in 2020 and 41.1 per 100,000 in 2021. This growth in the number of strokes indicates an increase in undiagnosed cases in which one of the causes can be an aneurysm.

Moreover, there was a significant impact of the COVID-19 pandemic on the revenues of market players offering surgical devices due to the restrictions imposed during this period.

• For instance, Terumo Corporation witnessed a decline of 2% in the total revenue of 2020 due to COVID-19 restrictions. The cardiac and vascular segment also witnessed a decline of 6% in 2020 but significantly recovered by 21% in 2021 and continued the same growth in 2022.

Lack of awareness and the decline in surgical procedures due to restrictions imposed during the pandemic made the growth of the global flow diverters market slower. However, the market has started to recover from the effects of the COVID-19 pandemic due to ease in lockdown restrictions and the resumption of essential surgeries, which is surging the demand for these products leading to market growth during the forecast period.

Key Insight

The report will cover the following key insights:

• Prevalence of Aneurysm, By Key Countries/Regions, 2022.


• Pricing, Key Players/ Key Regions, 2022.


• Pipeline Analysis, Key Players,


• Key Industry Developments - Mergers, Acquisitions, & New Product Launches.


• Impact of COVID-19 on the market.

Analysis by Product:

Based on the product, the market is segmented into Pipeline Embolization Device (PED), Silk, Flow Re-direction Endoluminal Device (FRED), p64 Flow-Modulation Device, Surpass Flow-Diverter, and Others. Market players are focusing on R&D to evaluate, and establish the clinical efficiency of innovative flow diverter devices.

Stryker received US-FDA approval for Surpass Flow-Diverter in 2018, which led to the entry of a leading medical device manufacturer in the closely competed and consolidated market. The introduction of new products in the market during the forecast period is anticipated to lead to increasing price competition among existing players.

Regional Analysis

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North America is likely to dominate the global flow diverters market as it has a larger presence of established players with higher medical expenditures in the countries of this region. Factors such as higher awareness among its population and favorable government initiatives also drive market growth in this region.

• As per the data of the Brain Aneurysm Foundation published in 2023, the prevalence of aneurysm in the U.S. is 1 in 50 people or approximately 6.7 million people, which is higher than in other developing countries. This prevalence rate will surge the demand for more surgeries, driving the demand for flow diverter devices in the U.S. 

Key Players Covered

The report will include the profiles of key players such as MicroVention Inc., Medtronic, Stryker, Lepu Medical Technology(Beijing)Co., Ltd., BALT Group., MicroPort Scientific Corporation., Cerus Endovascular Inc., Evasc Neurovascular Enterprises, and phenox GmbH.

Segmentation

Key Industry Developments

• June 2022: Medtronic introduced a new flow diverter, Pipeline Vantage Embolization Device with Shield Technology, which treats brain aneurysms.


• October 2021: Evasc Neurovascular, a medical device manufacturer, announced its new eCLIPs Bifurcation Flow Diverter.


• July 2020: Balt received the CE mark for the Silk Vista Flow Diverter to commercialize in European countries and performed its first surgery using this device.