Over the period from 2024 to 2032, the global market for aneurysm clips is anticipated to expand at a CAGR of over 7%. The adoption of aneurysm clips and disease treatments has been substantially aided by the Internet's rapid development in information dissemination. Clinical management information, availability of aneurysm clips, pricing, defects in aneurysm clips material biocompatibility, physician feedback, R&D, etc. are all accessible via open-source websites. This improves patient outcomes by increasing patient interest and promoting active physician-patient relationship management. Last but not least, the active contribution to aneurysm clip market information by some of the leading manufacturers simplifies the process of information dissemination and positively impacts the market's steady revenue growth.
The increasing demand for laparoscopic surgical procedures and the use of highly appropriate materials, such as stainless steel alloys, such as pure titanium, titanium alloy, Elgiloy, and Phynox, in aneurysm clips are anticipated to influence the growth of the market. In addition, the market is expected to be driven by the increasing prevalence of unhealthy lifestyles, the growing geriatric population, the rising incidence of intracranial aneurysm ruptures, and the availability of a variety of biocompatible aneurysm clips. The global market for aneurysm clips is experiencing rapid technological advancements in terms of portability and miniaturization, such as clip applicators and tipsters that can be used endoscopically or laparoscopically without making significant incisions on the patient's body surface area. Stryker received FDA PMA in May 2019 for the Neuroform Atlas Stent System for treating intracranial aneurysms, a second aneurysm adjunctive stent used in conjunction with embolic detachable coils to treat wide-neck brain aneurysms.
The global expansion of healthcare facilities is the primary driver of the adoption of aneurysm clips. Historically, aneurysm clips were made from silver and other traditionally biologically inert materials. Over time, metals like cobalt and titanium have entered the market for aneurysm clips. Clips for aneurysms are adaptable, safe, and widely available in numerous sizes and shapes. Two widely used aneurysm clips, Yasargil and Sugita, have a closing pressure of between 0.88-1.08N (90-110g) and 0.69N (70g), respectively. These are aneurysm clips used temporarily. Despite the availability of alternative treatment options, it is anticipated that the market for aneurysm clips will experience revenue growth due to the technological evolution of products.
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A rise in the prevalence of neurology-related disorders such as cerebral or brain aneurysms, epilepsy, and strokes, among others, is expected to fuel the growth of the aneurysm clip market in multiple countries. According to an article published by NHS England in January 2021, approximately 1 in 15,000 individuals in England suffer from a ruptured brain aneurysm annually. In addition, roughly 3% of adults in the United Kingdom have a cerebral aneurysm. The increasing prevalence of hypertension, alcohol consumption, and smoking causes brain aneurysms. As a result, the demand for aneurysm clips among medical professionals will increase.
In April 2020, Cleveland Clinic reported that approximately 6% of U.S. citizens have unruptured brain aneurysms and approximately 30,000 U.S. citizens suffer from brain rupture aneurysms annually. According to a May 2020 article published by NEWS Medical Lifescience, brain aneurysms are more prevalent in women, who make up approximately 60 percent of the female population. In addition, it is especially prevalent among postmenopausal women, which makes it more dangerous. This factor is expected to contribute to the growth of the aneurysm clip market.
Additionally, high cholesterol, diabetes, tobacco use, and high blood pressure increase the risk of brain aneurysm rupture due to atherosclerosis. In September 2021, according to the IDF Diabetes Atlas Tenth edition 2021, approximately 537 million people aged 20 to 79 will have diabetes. In addition, the population is projected to grow by 643 million by 2030 and 738 million by 2045. In the coming years, the increase in unhealthy lifestyles among youths around the world is expected to drive the market for aneurysm clips.
Aneurysm clips are priced competitively in all markets. The competitive pricing of products is facilitated by the wide availability of product variety by material type and technology type. In the countries analyzed, the average price of aneurysm clips is low, which encourages their use. The market is fragmented at the bottom and concentrated at the top, resulting in monopolistic competitive conditions and competitive product pricing. In emerging markets with low costs, prices are quite low due to the availability of both branded and locally manufactured products. However, pricing is high in developed markets, particularly in the United States for B. Braun products.
The global market for aneurysm clips has been restrained by stringent regulatory compliances. Part 807 of the FDA's 21 CFR requires establishment registration from manufacturers and distributors. To launch their products in the United States, the largest revenue-generating market, businesses must adhere to stringent regulatory compliances and undergo stringent clinical trials. In low-cost markets, aneurysm clips with unknown biocompatibility and metallurgical patterns are commonly used.
Smaller manufacturers of aneurysm clips lack adequate quality control procedures, especially for testing clip closing pressures. This caused instances of fatal uncontrollable bleeding. Thus, the American Society for Testing and Materials Committee has implemented stringent biocompatibility and force measurement standards for brain clip biomaterials. In order to prevent unfavorable events and improve patient safety, stringent bio-magnetic compatibility standards are also in place. This factor is the primary impediment to the expansion of the global aneurysm clip market.
In 2023, titanium aneurysm clips held a market share of 82% and were projected to grow at the highest CAGR over the forecast period, 7.5%. Titanium aneurysm clips feature inertness, durability, a high tensile strength, nonreactivity, and lightness. Its compatibility with imaging modalities such as MRI, CT, and X-rays, along with its ability to effectively secure the closure of delicate vessels during procedures, makes it a preferred choice as surgical equipment, thereby driving the segment's growth. In addition, titanium aneurysm clips interfere with MRI and CT scans less than other materials.
Titanium clips are commonly used, per the Brain Aneurysm Foundation, because they are MRI-compatible and therefore do not set off metal detector alarms. Due to their high biocompatibility, titanium, and its alloys are utilized extensively in medical equipment. According to an article published by Medical Device News Magazine in November 2023, more than 70 percent of surgical implant equipment and 95 percent of orthopedic implants are made of metal because of their strength and durability. Titanium and its alloys are utilized in spinal implants, hip and joint implants, and a variety of other implants due to their unique and advantageous properties.
Due to factors such as the rising prevalence of stroke, hypertension, and other neurological disorders, the segment for stroke dominated the market in 2023 with a share of 55%. According to the CDC, one in six people worldwide will experience a stroke at some point in their lives, and more than 795,000 people in the United States will suffer a stroke. In the United States, strokes are the second leading cause of death, accounting for approximately 140,000 deaths annually. Increased prevalence of stroke due to an unhealthy lifestyle, hypertension, and aging would contribute to the expansion of the aneurysm clip market.
The segment for cerebral aneurysms is anticipated to experience the highest CAGR during the forecast period, primarily due to the rising incidence of intracranial aneurysms. According to an article published by Frontiers Media S.A. in March 2023, approximately 6 out of every 100,000 people will suffer from aneurysmal subarachnoid hemorrhage. Cerus Endovascular Ltd. received European CE Mark approval for its flagship intracranial aneurysm treatment device, the Contour Neurovascular System, in February 2020. This is a result of the growing demand for minimally invasive surgeries and the adoption of cutting-edge technology.
In 2023, hospitals dominated the aneurysm clip market, accounting for 65% of total revenue. This is the result of a rise in surgical procedures, such as abdominal and neurosurgery laparoscopy, and the frequency of trauma. In developed countries, insurance companies cover medical expenses, including the cost of ligatures. The increase in surgical procedures performed in hospitals with clipping equipment contributed to the expansion of the segment.
It is anticipated that ambulatory surgical centers (ASCs) will have the highest CAGR during the forecast period. Due to lower out-of-pocket costs, lower facility costs, and improved patient access, this can be owned. The majority of Middle Eastern and Asian nations still lack the resources and infrastructure to establish ambulatory centers; however, they are working to do so in order to relieve hospitals of the burden of surgical procedures.
In 2023, North America dominated the market with a revenue share of 26.5%. This region's market for aneurysm clips is being driven by the rising prevalence of neurological disorders and the demand for minimally invasive surgical techniques. Each year in the United States, more than 795 000 people suffer an ischemic stroke, as reported by the CDC.
In addition, the increasing number of initiatives undertaken by various organizations is anticipated to fuel the expansion of the market for aneurysm clips in the United States. The Bee Foundation (TBF), a non-profit organization, aims to raise awareness and reduce the number of deaths caused by cerebral aneurysms through innovative research.
Due to factors such as the increasing incidence of target diseases, the growing geriatric population, the rising prevalence of unhealthy lifestyles among adolescents, and the increasing incidence of acute ischemic stroke, the Asia-Pacific medical market is anticipated to experience the highest growth rate over the forecast period. According to a ResearchGate article published in April 2020, the prevalence of obesity among adults aged 18 and older in ASEAN nations is as follows: Cambodia 50.20 percent, Indonesia 28 percent, Laos 20.9 percent, Malaysia 15.4 percent, Singapore 44.1 percent, Myanmar 8.4 percent, Vietnam 2.53 percent, Thailand 12.5 percent, and Brunei Darussalam 29.5 percent. In addition, females have a higher prevalence of obesity in all ASEAN countries.
In addition, emerging economies such as China, South Korea, and India are projected to experience significant growth over the forecast period. In addition, the establishment of organizations such as the Asia-Pacific Centre for Neuromodulation (APCN), which was established to conduct research and raise awareness of the associated benefits of deep brain stimulation surgeries, is anticipated to boost the growth of the aneurysm clip market.
Companies are focusing on medical device innovations, expansions, and technological advances. In addition, strategic initiatives implemented by major players include mergers and acquisitions for the development of new products and the expansion of supply chain networks. According to numerous sources, B. Braun is the market leader worldwide in the production of aneurysm clips. The most widely used aneurysm clips in the world are Yasirgil clips. The company's Aesculap division is reportedly the largest global provider of aneurysm clips, with over 340 distinct aneurysm clip designs and 38 appliers in its product portfolio (Phynox, titanium, mini, standard, permanent, temporary, and fenestrated). 70% of the aneurysm clip production process was reportedly performed manually. This greatly contributes to error reduction, and the availability of such data ensures the direction of future product development, thereby driving the revenue growth of the global aneurysm clips market.
The aneurysm clips market report includes profiles of the leading market participants based on their market shares, product offerings, distinct strategies, company dashboards, and marketing strategies. B. Braun Melsungen AG (Aesculap USA), Peter LAZIC GmbH, AS Medizintechnik GmbH, Ortho-Medical GmbH, KLS Martin Group, Adeor Medical AG, Rebstock Instruments GmbH, and ADCA – Indstria e Comércio de MatériaCirrgica Ltd. are among the key players profiled in this report. The companies offer a vast assortment of aneurysm clips. To expand their product footprint in the global aneurysm clips market, new market entrants in the aneurysm clips industry are focusing heavily on new marketing strategies.
