Interventional Intracranial Aneurysm Devices Market, by Procedure Type, (Aenurysm Coil Embolization, FD Placement, Overmolded Stent Carrying Artery Occlusion, Other Procedures (Surgical Clipping, etc.)), by Intracranial Aneurysm Type (Saccular Aneurysm, Fusiform Aneurysm, Others (Mycotic aneurysms, etc.)), by End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Oct 2022

Code : CMI5271

Pages :145

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Restraints & Challenges:

Increasing product recalls by regulatory authorities

Global Interventional Intracranial Aneurysm Devices Market – Restraints

The increasing number of product recalls by regulatory authorities is expected to hamper the growth of the global interventional intracranial aneurysm market over the forecast period. For instance, in September, 2021, the U.S. Food and Drug Administration issued a class 1 recall for two Medtronic products: Pipeline Flex Embolization Device and Pipeline Flex Embolization Device with Shield Technology. Class 1 recalls are the most serious since using these products could result in fatal or serious injury. Moreover, on January 04, 2022, Balt USA, LLC, a manufacturer of neurovascular devices, initiated a class 2 device recall of Optima Coil System, a neurovascular embolization device, due to a label/pouch mix-up, erroneous shelf carton label or pouch label as a result of insufficient manufacturing line clearance. Following this labelling error, there is a chance that the wrong coil size may be accidentally chosen for surgery, which might lead to complications such as vessel damage, the inability to use the device to treat the aneurysm, or even its rupture.

Research and academic institutes are engaged in developing technologically advancement products and surgical procedures for the treatment of brain or intracranial aneurysm, which is expected to drive the global interventional intracranial aneurysm devices market growth over the forecast period. For instance, in May 2021, a study team from Pohang University of Science and Technology (POSTECH), a university in South Korea, had developed a novel method of filling of blood in aneurysms that can deactivate the rupturing of blood vessels. The interdisciplinary research team at POSTECH had created a novel structurally stable, biocompatible embolization material that does not degrade in the human body to address the drawbacks of coil embolization. A novel idea for cerebral aneurysm therapy (a therapeutic tool) that can control and produce material in the form of microfibers in the intravascular environment was also introduced.