Flow Diverters Market Poised to Reach USD 1.0 Billion by 2031 | Fueled by the Surge in the Research Activities which Enhances Demand of Flow Diverters

A new business intelligence report released by Allied Market Research, the global Flow Diverters Market generated $251.50 million in 2021, and is expected to reach $1.04 billion by 2031, witnessing a CAGR of 15.3% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, value chain, top segments, and competitive landscape. This report provides detailed information to assist market players, stakeholders, investors, and startups in determining strategies to continue growth and attain competitive edge in the market.

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Driving Forces Behind Flow Diverters Market 

Several factors propel the trends in the flow diverters market, including the growing number of companies dedicated to manufacturing these medical devices, increased research activities amplifying the demand for flow diverters, and a surge in the establishment of medical device companies. Notable industry players contributing to these trends include Acandis, BALT Extrusion SA, InspireMD, Johnson and Johnson, Medtronic, MicroPort Scientific Corporation, Microvention, Penumbra Inc., Phenox, and Stryker Neurovascular.

Covid-19 Scenario:

• The global flow diverters market experienced a downturn in revenue due to the adverse effects of the Covid-19 pandemic. The reallocation of resources to address the surge in Covid-19 cases disrupted medical consultations for conditions such as cerebral aneurysm and hypertension, leading to a decline in the demand for flow diverters devices.
• Lockdown restrictions resulted in the closure of numerous clinics, with a heightened focus on urgent medical procedures. Consequently, the demand for flow diverters decreased, as clinic visits by patients significantly declined.
• Anticipated recovery is expected in the post-pandemic period as hospitals and clinics gradually resume operations at full capacity. The resumption of regular medical services is likely to drive an increase in demand for flow diverters in the healthcare market.

In 2021, the cerebral aneurysms segment emerged as the primary contributor to the global flow diverters market, accounting for over three-fifths of the market share. This segment is anticipated to maintain its leadership in revenue generation throughout the forecast period, with an estimated highest Compound Annual Growth Rate (CAGR) of 15.8% from 2022 to 2031. The research also delves into other segments, such as multiple intracranial aneurysms and others.

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In terms of end-users, the hospital and clinics segment dominated the market in 2021, representing about two-thirds of the global market share and is poised to sustain its supremacy until 2031. Furthermore, this segment is forecasted to exhibit the highest CAGR of 15.6% during the forecast period. The study also explores the ambulatory surgical center segment.

Regionally, North America claimed the highest market share in 2021, contributing to more than two-fifths of the global flow diverters market and is expected to maintain its lead until 2031. Nevertheless, Asia-Pacific is projected to witness the fastest CAGR of 16.4% during the forecast period. The research extends its analysis to regions including Europe and LAMEA.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the flow diverters market analysis from 2021 to 2031 to identify the prevailing flow diverters market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the flow diverters market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global flow diverters market trends, key players, market segments, application areas, and market growth strategies.

Key Findings of The Study

• By type, the pipeline embolization device stimulation segment was the highest contributor to the market in 2021.
• By application, the cerebral aneurysms segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• By end user, the hospitals and clinics segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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