Flow Diverters Market Size, Share & Trends Analysis Report By Product Type (Pipeline Embolization Device, Silk Flow Diverter, Surpass Flow Diverter, Flow Redirection Endoluminal Device, Others), By End User (Hospitals, Ambulatory Surgical Centres) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global flow diverters market size was valued at USD 409.58 million in 2023. It is estimated to reach USD 1,125.25 million by 2032, growing at a CAGR of 10.99% during the forecast period (2024–2032).

Flow diverters are advanced endovascular tools used in the treatment of intracranial aneurysms, especially those that are large, have a wide neck, or are difficult to handle with conventional techniques. These tools are usually shaped like tubes with a mesh-like structure, made from metal alloys, and are inserted into the main artery where the aneurysm is situated. By guiding blood flow away from the aneurysm sac, flow diverters encourage the formation of clots within the aneurysm, which eventually leads to its closure while ensuring that blood continues to flow normally through the artery. This less invasive method lowers the chance of the aneurysm bursting and associated problems, providing a major improvement in the field of neurovascular treatment. 

The factors like technological advancements, increase in the number of neurovascular diseases, and growing aging population are the major drivers contributing to the growth of the flow diverters market. With technological advancements, better and safer flow diverters have been designed, which have resulted in more favourable conditions for patients as well for treating more advanced indication. The rising incidence of conditions such as cerebral aneurysms, along with availability of advanced diagnostic techniques has driven market expansion. Further, the increasing elderly population, which are more prone to be affected with neurovascular disorders additionally drives the market growth. Moreover, favourable reimbursement policies and the growing popularity of minimally invasive surgical procedures are also supporting to the flow diverters market size.

Market Dynamics

Global Flow Diverters Market Drivers

Rising Incidence of Cerebral Aneurysms and Neurovascular Disorders

The major factor driving the growth of flow diverter market is rising incidence of cerebral aneurysms and neurovascular disorders across the globe. For instance, as per the article by Brain Aneurysm Foundation, stated that, an estimated 6.7 million people in U.S., suffer from unruptured brain aneurysm. In addition, availability of advanced diagnostic technologies such as such as magnetic resonance imaging (MRI) and computed tomography (CT), have increased the detection rates of neurovascular disorders, thus enhanced detection rates propel the demand of flow diverters. Further, rising awareness about cerebral aneurysms and available treatment options among patients and healthcare professionals contributes to increasing diagnosis rates. Furthermore, the major factors such as hypertension, smoking & high alcohol consumption increase the chances of aneurysm formation and rupture, directly impacting the incidence of cerebral aneurysms. Moreover, aged people are at major risk of developing cerebral aneurysm due to weaking of blood vessels in the brain, thereby increasing the likelihood of aneurysm formation. Thus, all above factors are anticipated to drive the demand of flow diverters and further propelling the market expansion.

Technological Advancements in Medical Devices

Another factor driving the growth of flow diverter market is technological advancements leading to the development of more sophisticated and safer flow diverters. These advancements include use of improved materials, better design, and enhanced delivery systems, resulting in devices that offer higher efficacy and safety profiles. For example, Medtronic offers Pipeline Flex embolization device with Shield Technology, an advanced flow diverter for treating intracranial aneurysms more effectively and safely. The device has shield technology which is a surface modification designed to enhance the device’s biocompatibility and also, reduces the likelihood of thrombus formation on the device surface, thereby minimizing the risk of in-stent thrombosis, a common complication associated with flow diverter implants. Thus, availability of such advanced device with shield technology address key challenges in the traditional device and significantly impacts the flow diverters market growth. The enhanced safety profile, driven by shield technology, increases device's acceptance among healthcare providers, and are more confident in its use for a broader range of patients, including those with complex aneurysms. Thus, such technological innovations are expected to fuel the adoption and growth of flow diverter market revenue.

Global Flow Diverters Market Restraint

High Cost of Flow Diverter Procedures

A major barrier to the growth of the flow diverters market is the high cost involved in the procedures. Despite the possibility for substantial growth, the flow diverters market faces significant challenges, primarily because of the high costs associated with these treatments. The expenses associated with the equipment and the required surgical operations are steep, posing challenges for numerous patients, especially those in areas with constrained healthcare budgets or insufficient insurance coverage. For example, research on the expenses related to endovascular treatment for unruptured intracranial aneurysms in Mexico revealed that the typical expense of the treatment was $21,687.22 USD, with prices fluctuating depending on the aneurysm's location. These elevated costs not only restrict access for patients but also burden healthcare systems, particularly in developing nations.

Global Flow Diverters Market Opportunities

Development of Bioabsorbable Flow Diverters

Developing bioabsorbable flow diverters offers lucrative opportunities for key stakeholders in the flow diverter market. Bioabsorbable flow diverters are designed to degrade slowly and absorbed by the body over time, thus eliminating the need for permanent implants and minimizing the risk for long-term complications due to foreign materials in the bloodstream. Further, as these diverters degrade, they stimulate endothelialisation, promoting the formation of a new layer of endothelial cells over the aneurysm neck. Therefore, such natural healing process of bioabsorbable diverters helps to seal off the cerebral aneurysm, preventing future rupture and reducing the risk of recurrence. Further, these diverters mimic like the body's natural healing mechanisms, thereby increasing improved patient outcomes and enhanced safety compared to traditional flow diverter.

Furthermore, bioabsorbable flow diverters have the potential to diminish the necessity for follow-up procedures, offering a more convenient and cost-effective solution for patients and healthcare providers. Unlike in the case of permanent implants, which require surgical removal once they have served their purpose, bioabsorbable flow diverters gradually degrade and are replaced by native tissue, without leaving behind any remnant of a foreign body in the fully restored blood vessel. Moreover, companies are developing bioabsorbable flow diverters for treating cerebral aneurysm. For example, as per the press release of Fluid Biomed Inc., in September 2023, reported that, company is commercializing first polymer-based brain stent to cure aneurysms. This flow diverter is composed of dissolving polymer and metal to allow better healing and visualization of blood vessels. Thus, such developments provide key opportunity to the players of the flow diverter market.

Expanding Elderly Population & Increasing Prevalence of Hypertension

The expanding elderly population across the globe offers significant opportunities to the key players of the flow diverter market. Elderly people are more prone to neurovascular disorders such as cerebral aneurysms due to age-related changes in blood vessels. For instance, as per article published in BMC Neurology in 2022, reported cohort study of Japan in which 28% of patients with unruptured intracranial aneurysms were older than 70 years. Further, people suffering from hypertension is a major risk factor for the development, enlargement, and rupture of cerebral aneurysms. Hypertensive people cause hemodynamic stress and inflammation in arterial walls, leading to potential aneurysm formation and rupture. Thus, as more people are diagnosed with hypertension, the chances of aneurysms are more, which drives the demand of flow diverter. Thus, expanding elderly population and rising incidences of hypertension underscores the need for effective treatment options like flow diverters, presenting a significant opportunity for flow diverter market expansion.

Regional Analysis

Based on region, the global flow diverter market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global flow diverter market shareholder and is expected to expand substantially during the forecast period. North America stands as a prominent region in the global flow diverter market, characterized by robust technological advancements, increasing cerebral conditions, and established major players of the market.

The United States flow diverter market is leading in terms of market share. The presence of players like Stryker, Johnson & Johnson and MicroVention, Inc. offer advanced flow diverters which drives the U.S. flow diverter market share. In addition, high prevalence of cerebral aneurysms and related neurovascular disorders in the U.S., significantly drives market demand. Further, advanced hospitals along with specialized neurosurgeons ensures access to the latest treatments and skilled medical professionals, including neurosurgeons and interventional radiologists who are proficient in using these devices which propels the flow diverter market growth.

The Canadian flow diverter market is poised to grow due to the combination of advanced healthcare infrastructure and a publicly funded healthcare system. Canadian hospitals and specialized centres, such as Toronto Western Hospital and Vancouver General Hospital, are equipped with modern imaging and surgical technologies necessary for the deployment of flow diverters. The presence of skilled healthcare professionals, including neurosurgeons trained in the latest neurovascular intervention techniques, ensures high standards of patient care and successful outcomes for procedures involving flow diverters. Canada's universal healthcare system provides equitable access to medical treatments, including advanced procedures for cerebral aneurysms, which supports the widespread adoption of flow diverters.

Additionally, Canada faces a significant burden of neurovascular disorders, with a high prevalence of conditions such as cerebral aneurysms driven by an aging population and common risk factors like hypertension and smoking. The Canadian healthcare system prioritizes preventive care and effective treatment options, which includes the use of flow diverters to manage and prevent aneurysm ruptures.

These factors are estimated to drive the Asia-Pacific flow diverter market growth.

Asia-Pacific region is a pivotal market for the flow diverter industry, witnessing robust growth driven by increasing investments in healthcare infrastructure, rising number of hypertension cases and coupled with a higher incidence of risk factors like smoking, and obesity contribute to increased occurrence of aneurysms. The region's expanding medical device industry, supportive government policies, and increasing patient awareness towards aneurysms and available treatment options further boost the market expansion.

China's flow diverter market has a major role in shaping the dynamics of the Asia-Pacific flow diverter market. The increasing investments in healthcare infrastructure, modernizing hospitals and medical centres with advanced technology and equipment necessary for neurovascular interventions is anticipated to drive the market growth. Additionally, the Chinese government has been actively promoting healthcare reforms to increase access to high-quality medical care, leading to a rise in the adoption of advanced medical devices like flow diverters.

Indian flow diverters market drivers include burden of neurovascular disorders, government initiatives aimed at improving healthcare access and affordability, along with the expansion of health insurance coverage, have made it easier for patients to obtain these advanced treatments. Furthermore, ongoing clinical research and collaborations with global medical device companies are fostering innovation and adoption of new technologies in India, contributing to the robust growth of the flow diverter market.

Thus, the factors above are estimated to boost the Asia-Pacific flow diverter market growth.

Segmental Analysis

The global flow diverter market is segmented by product type, and end user.

Based on product type, the global flow diverter market is divided into pipeline embolization device, silk flow diverter, surpass flow diverter, flow redirection endoluminal device and others. 

The pipeline embolization device segment dominates the global market. The factors such as high efficacy, ongoing advancements in device and its design are the major factors contributing to the growth of the segment. This device is composed of tightly woven mesh made from advanced materials such as cobalt chromium and platinum, which diverts blood flow away from the aneurysm and thus reducing the further complications like rupturing of blood vessel. Further, technological advancements in pipeline embolization device, such as the integration of shield technology enhances the biocompatibility and reduces thrombus formation, leading to preferred choice among neurosurgeons and interventional radiologists. The advanced device enhances procedural safety and precision, offering high efficacy in treating complex and large intracranial aneurysms that are not easily managed with traditional surgical methods.

Based on end user, the global flow diverter market is bifurcated into hospitals and ambulatory surgical centres. 

The hospitals segment is estimated to account for the largest share in terms of revenue in 2023. The hospitals are equipped advanced medical infrastructure and imaging technologies which are important for the precise placement and effective monitoring of flow diverters. The hospitals attract high volume of patients due to their comprehensive care capabilities and multidisciplinary teams of specialists, including neurosurgeons, interventional radiologists, and neurologists. These facilities act as crucial for the management of cerebral aneurysms and other complex neurovascular disorders, where coordinated care significantly improves treatment efficacy and patient recovery rates. In addition, many hospitals are often involved in clinical trials and cutting-edge research, keeping them at the forefront of adopting new medical technologies and practices in neurovascular conditions.

Recent Developments

• March 2024 - MicroPort NeuroTech completed the first commercial implantation of Tubridge Flow Diverter (Tubridge) in Argentina.
• January 2020 - MicroVention, Inc., a U.S.-based subsidiary of Terumo and a global neurovascular company received the FDA Premarket Approval (PMA) for the FRED (Flow Re-Direction Endoluminal Device) device for the treatment of brain aneurysms.

Analyst’s Perspective

As per our research analysts, the market for flow diverters is set to experience strong expansion, owing to combination of technological progress, a rise in neurovascular conditions, and the growth of medical facilities worldwide. New developments in the design and materials of these devices, like flow diverters that dissolve in the body and more efficient ways of delivering them, are making these treatments safer and more effective, leading to greater approval from medical experts. Moreover, the increasing number of cerebral aneurysms, which are more common among older people and those with conditions like high blood pressure and smoking, is pushing for better and less invasive treatment solutions. The market in emerging regions like Asia-Pacific, especially in China and India, is also growing due to more investments in healthcare and an increase in knowledge about sophisticated neurovascular treatments.