Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) -- The "Aneurysm Clips Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The rapid development of information dissemination across the internet has significantly contributed to the adoption of aneurysm clips and disease treatment. Information related to clinical management, availability, pricing, material biocompatibility, physician feedback, and research and development of aneurysm clips is now accessible to the public through open-source platforms.
This accessibility enhances patient interest and fosters an active physician-patient relationship, ultimately leading to better patient outcomes. Moreover, contributions from leading manufacturers in disseminating aneurysm clips market information simplify the information process, positively impacting the market's revenue expansion at a steady pace.
Technological Advancements Driving Adoption
The adoption of aneurysm clips is primarily driven by improved access to healthcare facilities globally. Initially, aneurysm clips were manufactured using traditionally inert materials like silver. Over time, metals such as cobalt and titanium have been introduced into the aneurysm clips market. These clips are versatile, safe, and available in various shapes and sizes.
Widely adopted aneurysm clips, such as Yasargil and Sugita, demonstrate closing pressures of 0.88-1.08N (90-110g) and 0.69N (70g) respectively, reflecting their temporary nature. Technological advancements in product evolution are expected to contribute to the revenue growth of the aneurysm clips market, despite the presence of alternative treatment options.
Competitive Pricing Boosting Market Growth
Aneurysm clips are competitively priced across different markets, with a wide variety of product assortments by material and technology type. The average pricing of aneurysm clips remains low in analyzed countries, promoting product adoption. The market structure is fragmented at the bottom and consolidated at the top, resulting in a monopolistically competitive setup and competitive product pricing.
In emerging markets, low-cost settings offer competitive pricing due to the availability of both branded and locally manufactured products. However, pricing tends to be higher in developed markets, particularly for products like those from B. Braun in countries such as the U.S.
Challenges Posed by Stringent Regulatory Compliances
Stringent regulatory compliances present major challenges to the growth of the global aneurysm clips market. According to the FDA's 21 CFR, Part 807, manufacturers and distributors must register their establishments with the FDA and adhere to strict regulatory compliances, including rigorous clinical trials for product launch in major revenue-generating markets like the U.S. In low-cost settings, aneurysm clips with unknown biocompatibility and metallurgic patterns have been used, posing significant risks.
Smaller manufacturers often lack adequate quality control procedures, particularly for testing clip closing pressures, leading to fatal incidents. The American Society for Testing and Materials Committee has enforced strict guidelines for brain clip biocompatibility and measurement of clip closing forces, alongside stringent norms to ensure bio-magnetic compatibility, thereby enhancing patient safety but hampering market growth.
Market Leadership and Product Development
B. Braun, through its Aesculap division, is recognized as a market leader in aneurysm clip production, boasting a product portfolio with over 340 different designs and 38 appliers (Phynox, titanium, mini, standard, permanent, temporary, and fenestrated). The company conducts approximately 70% of its aneurysm clip product processes by hand, significantly reducing errors. Such detailed information ensures direction for future product development and drives revenue growth in the global aneurysm clips market.
Competitive Analysis
The Competitive Analysis of the aneurysm clips market includes profiles of major players based on their market shares, product offerings, strategies, and marketing approaches. Key players offer a wide range of aneurysm clips and are focusing on new marketing strategies to expand their product footprint in the global market.
Companies Featured
- Aesculap USA (B.Braun)
- KLS Martin Group
- AS Medizintechnik GmbH
- ADCA - Industria e Comercio de Material Cirurgico Ltda
- Ortho-Medical GmbH
- Peter LAZIC GmbH
- Adeor Medical AG
- Rebstock Instruments GmbH
Key Market Segmentation:
By Material Type
- Titanium Alloy
- Cobalt Chromium Alloy
By Indication
- Saccular Aneurysms
- Fusiform Aneurysm
By End Users
- Hospitals
- Neurology Centres
By Region
- North America
- Latin America
- Europe
- CIS & Russia
- Asia Pacific
- Japan
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/6ydwaa
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