Embolization Coils Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Detachable Coil and Pushable Coil), Material (Platinum, Platinum & Hydrogel, and Platinum Tungsten Alloy), Application (Neurology, Cardiology, Urology, Oncology, Peripheral Vascular Disease, and Other), and End User (Hospital, Cardio Center, Ambulatory Center, and Other)
Publication Month: Sep 2022 | Report Code: TIPHE100001434 | No. of Pages: 198 | Category: Medical Device | Status: Published
The embolization coils market was valued US$ 1,191.78 million in 2021. It is estimated to grow at a CAGR of 4.3% during 2022–2028.
Embolization coils are used to treat brain and cardiac aneurysms and other blood-related conditions. They are used as an alternative to surgical embolization to cut the blood supply to the tumor. It is used to treat various types of diseases, such as liver cancer, kidney cancer, aortic artery disorders, neuroendocrine tumors, and peripheral vascular diseases.
Market Insights
Rise in Prevalence of Cardiac Aneurysm
Cardiovascular diseases (CVDs) are disorders of the heart and blood vessels and include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Factors such as tobacco use, an unhealthy diet, and physical inactivity increase the risk of heart attacks and strokes. CVDs are the leading cause of death across the globe, and they affect more people than any other disease.
The cardiac aneurysm is majorly caused due to blockages in the aortic artery, the disease is categorized into two diseases according to the site of blockages. The blockages are seen in the chest, or the abdomen also called thoracic aortic aneurysm and abdominal aortic aneurysm respectively. The rise in prevalence of cardiac aneurysms is growing across the world. For instance, to the Society for Vascular Surgery (SVS) it is stated that every year in US 2 million people are diagnosed with an abdominal aortic aneurysm. It is also stated that a rupture abdominal aortic aneurysm is the 15th leading cause of death in the country. It is most commonly seen in the le older than 55 years of age.
In addition, the abdominal aortic aneurysm is majorly based on family history or inheritance. The immediate relative is more prone to getting an abdominal aortic aneurysm. The possibility is that 10 times more likely to develop an abdominal aortic aneurysm. And the person may have some type of aneurysm.
Similarly, In Europe, according to the British Heart Foundation every year 5,000 deaths in the UK are caused due to ruptured aortic aneurysms. These are most common in men of 65 years of age and above and they are responsible for 1 in 75 deaths of men in this age group. Likewise, the similar trend is observed in the other region across the world. Therefore, owing to the rise in the prevalence of the cardiac aneurysm in the regions and in various countries are likely to increase the growth of the embolization coils in the forecast period. Therefore, the rise in the prevalence of cardiac aneurysms is fueling the growth of the embolization coils market
Strategic Insights
Type Insights
Based on type, the global embolization coils market is segmented into detachable coil and pushable coil. In 2021, the detachable coil segment held a larger market share. Moreover, the same segment is estimated to grow at a significant CAGR during the forecast period. Detachable coils take less time for the procedure than pushable ones and are characterized as soft or standardized coils used for aneurysms and vessels in various clinical applications. The coils are placed with one-click mechanical detachment handle technology.
Global Embolization Coils Market, by Type – 2022 and 2028
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Application Insights
Based on application, the global embolization coils market is segmented into neurology, cardiology, urology, oncology, peripheral vascular disease, and other. In 2021, the neurology segment held the largest share of the market. Moreover, the same segment is expected to grow at the fastest rate in the coming years. Embolization coils are generally used to treat brain aneurysms and arteriovenous malformations (AVMs) in the field of neurology. An AVM is a tangle of blood vessels connecting arteries and veins that disrupts blood flow and oxygen circulation, resulting in the lack of oxygen for surrounding tissues.
Material Insights
Based on material, the global embolization coils market is segmented into platinum, platinum & hydrogel, and platinum tungsten alloy. The platinum segment held the largest share of the market in 2021. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028.
End User Insights
Based on end user, the global embolization coils market is segmented into hospital, cardiac center, ambulatory center, and other. The hospital segment held the largest share of the market in 2021. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028.
Inorganic developments such as mergers and acquisitions are highly adopted strategies by companies in the global embolization coils market. A few of the recent key market developments are listed below:
- In May 2019, Shape Memory Medical Receives PMDA Approval for the IMPEDE-FX Embolization Plug.
- In Dec 2019, Kaneka releases a new coil for embolization of brain aneurysms.
- In Aug-2022, Boston Scientific Corporation BSX announced the acquisition of Obsidio, Inc. It is a privately held company is the renowned developer of the FDA-authorized Gel Embolic Material (GEM) technology.
Company Profiles
- Terumo Corporation
- Medtronic plc
- Boston Scientific Corporation
- Stryker Corporation
- KANEKA CORPORATION
- MicroPort Scientific Corporation
- Penumbra, Inc
- Cook Medical LLC
- Johnson & Johnson Services, Inc.
- Shape Memory Medical INC,
Frequently Asked Questions
The List of companies - Embolization Coils Market.
- Terumo Corporation
- Medtronic
- Boston Scientific Corporation
- Stryker
- Johnson & Johnson Services, Inc
- Cook Medical LLC
- Penumbra, Inc
- KANEKA CORPORATION
- Shape Memory Medical INC
- Microport Scientific Corporation
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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