Cerebral Aneurysm Clips Market Overview

The cerebral aneurysm clips market is projected to expand from US$ 53,810.74 thousand in 2021 to US$ 81,960.74 thousand by 2028, reflecting a compound annual growth rate (CAGR) of 6.3% from 2022 to 2028.

Market Trends and Growth Drivers

This report outlines the prevailing trends in the market and identifies key factors contributing to its growth. The rise in the cerebral aneurysm clips market can be primarily linked to the increasing incidence of brain aneurysms and their associated risk factors, alongside a surge in research and development efforts aimed at treating these conditions. Nevertheless, the high costs associated with treatment procedures pose a challenge to market expansion.

Understanding Brain Aneurysms

A brain aneurysm, also known as a cerebral aneurysm, occurs when there is a bulge in the blood vessels of the brain. This bulge can exert pressure on surrounding nerves or brain tissue, and if it ruptures, it can lead to severe bleeding in the brain, which can be life-threatening. Various factors contribute to the formation of brain aneurysms, including genetic predispositions, arteriovenous malformations, untreated hypertension, and smoking.

Treatment Methodology

The traditional approach to treating aneurysms is through microsurgical clipping. The first successful surgical clipping of an aneurysm was performed by Dr. Walter Dandy at Johns Hopkins Hospital on March 23, 1937. This procedure involves placing a small metal clip on the neck of the aneurysm to halt blood flow, which requires a craniotomy to access the affected area of the brain.

Prevalence of Brain Aneurysms

The growth of the cerebral aneurysm clips market is significantly influenced by the rising number of brain aneurysm cases globally. According to the Brain Aneurysm Foundation, approximately 6.5 million individuals in the United States, or 1 in 50, are living with an unruptured brain aneurysm each year. Furthermore, around 30,000 people experience a rupture annually, equating to a rupture every 18 minutes. The foundation also notes that nearly 40% of these ruptures are fatal, necessitating intensive medical care. Research from the National Institutes of Health (NIH) suggests that between 3-5% of Americans may develop an aneurysm during their lifetime. The global prevalence of cerebral aneurysms is estimated at 3.2%, with a mean age of occurrence around 50 years, and a gender ratio of 1:1, which shifts to 2:0 in individuals aged 50 and above, indicating a higher prevalence among females.

Risk Factors

Several risk factors contribute to the development of cerebral aneurysms, including smoking, insomnia, and hypertension. A study funded by the British Heart Foundation in 2021 identified these as significant risk factors for cranial aneurysms and aneurysmal subarachnoid hemorrhage (SAH). According to the CDC, about 14% of the U.S. population smokes cigarettes. Hypertension is another critical factor, with the World Health Organization reporting that approximately 1.13 billion people globally suffer from this condition. A systematic review published in 2018 estimated that around 500,000 individuals worldwide experience SAH each year, with a significant proportion occurring in low- and middle-income countries.

Market Segmentation

The cerebral aneurysm clips market is segmented by material type into pure titanium and titanium-based alloys, cobalt-chromium-based alloys, phynox, and others. In 2021, the pure titanium and titanium-based alloys segment dominated the market, while the phynox segment is expected to exhibit the highest CAGR from 2022 to 2028. By indication, the market is divided into saccular, fusiform, and mycotic aneurysms, with saccular aneurysms holding the largest market share in 2021. However, the mycotic aneurysm segment is projected to grow at the highest CAGR during the forecast period. The market is also categorized by condition into unruptured and ruptured aneurysms, with unruptured aneurysms leading in market share in 2021, although the ruptured segment is anticipated to grow more rapidly. Lastly, by end user, the market includes hospitals, neurology centers, ambulatory surgical centers, and others, with hospitals accounting for the largest share in 2021, while neurology centers are expected to see the highest growth rate.

Impact of COVID-19

The COVID-19 pandemic has had a slight adverse effect on the cerebral aneurysm clips market due to production delays and a shift in focus towards managing the pandemic. For instance, Medtronic launched a new ventilator platform for COVID-19 patients in March 2020, leading to the postponement of elective brain surgeries in various hospitals. The concentration of medical supply production in Mexico has also affected availability in developing countries. Despite these challenges, many companies are redirecting their efforts towards research on the impact of COVID-19 on neurological patients.

Strategic Developments

Companies in the cerebral aneurysm clips market are employing various organic and inorganic strategies to enhance their market presence. Organic strategies include product launches and approvals, while inorganic strategies involve acquisitions, collaborations, and partnerships. For example, in August 2021, Biomedica Italia extended its partnership with Peter Lazic GmbH for the distribution and manufacturing of L-Aneurysm Clips and microsurgery instruments for neurosurgery, solidifying their collaboration for the next five years.

Conclusion

In summary, the cerebral aneurysm clips market is poised for significant growth driven by the increasing prevalence of brain aneurysms and associated risk factors. Continued advancements in treatment methodologies and strategic partnerships among key players will further enhance market dynamics.