South & Central America Cerebral Aneurysm Clips Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Material Type, Indication, Condition, and End User

The cerebral aneurysm clips market in South & Central America is expected to grow from US$ 3.4 million in 2022 to US$ 4.6 million by 2028. It is estimated to grow at a CAGR of 5.2% from 2022 to 2028.

As the symptoms of a brain aneurysm are complex to identify, approximately one in five patients remain unaware of these symptoms. Several government authorities and organizations offer financial aid and research platforms for researchers to improve the diagnosis and treatment of cerebral aneurysms. These research and development activities will likely encourage the adoption of advanced technologies such as robotics in neurosurgeries. Robotic surgeries allow surgeons to perform several types of complicated procedures with more ease, control, and precision than traditional procedures. Additionally, the growing emphasis on minimally invasive surgeries and improving surgical outcomes drive traction toward robot-assisted surgeries.

Further, WPI Automation and Interventional Medicine Laboratory have developed a Steady Hand Guided Aneurysm Clip Applier that can provide high precision motion while keeping neurosurgeons in contact with the surgical instrument. Force sensors are incorporated between the instrument and the robot; surgeons apply force on the instrument to guide the movement of connected robots. Tremor reduction, force scaling, and virtual fixtures are the features of robotic surgeries that can enable enhanced control.

The acceptance of robotic techniques for treating neurological and brain diseases is expected to increase due to their ability to improve performance with greater flexibility, accelerate recovery, and provide high accuracy. Moreover, the techniques are expected to streamline workflows and processes, improve patient experience, and provide superior surgical outcomes. Thus, the advancements in robotics will likely bring new trends to the cerebral aneurysm clips market in the coming years.

Market Overview

The SAM cerebral aneurysm clips markets is segmented into Brazil, Argentina, and the Rest of SAM. The region held the smallest portion of the market in the global analysis. The cerebral aneurysm clips market in the SAM region is expected to grow owing to factors such as the rising need for clip placement in neurosurgeries, growing incidence of stroke, increasing geriatric population, and rise in the development in the healthcare systems of the countries in the region. Brazil has made huge strides in the healthcare sector owing to increasing healthcare expenditure. For instance, Brazil's healthcare spending per capita in 2017 was US$ 935, a 16.71% increase from the previous year's spending. Also, in 2018, the health expenditure as a share of GDP in Brazil was 9.5%, and it increased from 8.1% in 2004 to 9.5% in 2018, growing at an average annual rate of 1.18%. The growth in healthcare spending results in better care for patients in the country by launching awareness programs for disease treatment and better treatment facilities. Thus, an increase in healthcare spending across the country is also expected to fuel the market growth during the forecast period.

South & Central America Cerebral Aneurysm Clips Market Segmentation

The South & Central America cerebral aneurysm clips market is segmented into material type, indication, condition, and end user.

• Based on material type, the South & Central America cerebral aneurysm clips market is segmented into pure titanium and titanium-based alloys, cobalt-chromium-based alloys, phynox, and others. The pure titanium and titanium-based alloys segment is anticipated to hold the largest market share in 2022.
• Based on indication, the South & Central America cerebral aneurysm clips market is segmented into saccular aneurysm, fusiform aneurysm, and mycotic aneurysm. The saccular aneurysm segment is anticipated to hold the largest market share in 2022.
• Based on condition, the South & Central America cerebral aneurysm clips market is segmented into unruptured aneurysm and ruptured aneurysm. The unruptured aneurysm segment is anticipated to hold a larger market share in 2022.
• Based on end user, the South & Central America cerebral aneurysm clips market is segmented into hospitals, neurology centers, ambulatory surgical centers, and others. The hospitals segment is anticipated to hold the largest market share in 2022.
• Based on country, the market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil is anticipated to hold the largest market share in 2022. ADCA; adeor medical AG; B. Braun Melsungen AG; Integra LifeSciences; KLS Martin Group; Mizuho Medical Co,Ltd; Ortho-Medical GmbH; and Peter Lazic GmbH are among the leading companies operating in the cerebral aneurysm clips market in the region.