Micro Coil Market is expected to reach US$ 1,151.53 Mn by 2028

Micro coil Market for Pushable Coil Segment to Grow at Highest CAGR during 2021–2028

According to our new market research study on “Micro coil Market to 2028 – Global Analysis and Forecast – by product, applications and end user,” the market is expected to reach US$ 1,151.53 million by 2028 from US$  836.30 million in 2021. The market is estimated to grow with a CAGR of 4.7% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.

Based on Micro coil types, the market is segmented into detachable coils and pushable coils. In 2021, the pushable coil segment accounted for a higher share of the market. Growth of this segment is attributed to increasing adoption of pushable micro coil systems in surgical procedures. The same segment is likely to register highest CAGR in the global micro coil market during the forecast period.

Based on micro coil material, the market is segmented into platinum, platinum tungsten alloy, and platinum & hydrogel. In 2021, the platinum segment accounted for the highest share of the market. Growth of this segment is attributed to advantages offered by platinum micro coil systems such as thrombogenicity to the coil, softness, and flexibility in surgical procedures. The same segment is likely to register highest CAGR in the global micro coil market during the forecast period.

Based on application, the micro coil market is segmented into oncology, urology, and others. The others segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.  

Based on end user, the micro coil market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.

COVID-19 pandemic has become the most significant challenge across the world. This challenge will be frightening especially in developing countries across the globe as it will lead to reducing imports due to disruptions in global trade. The COVID-19 pandemic affected the pharmaceutical, medical device, R & D, and other businesses across the globe. Micro coil devices are critical care medical devices in several surgical procedures. As the rise of the pandemic crisis was uncertain, there is shortage in supply of various surgical devices and consumables. It has been difficult for the hospital to manage the medical devices used for inhouse patients and COVID-19 patients. To deal with the situation, the market players focus their business operations towards increasing the production capacities.

Terumo Corporation; Medtronic; Boston Scientific Corporation; Stryker Corporation; Cook Medical LLC; Penumbra, Inc.; Balt USA LLC; Johnson and Johnson Services, Inc.; Classic Coil Company; and KANEKA CORPORATION are among the leading companies operating in the micro coil market.

Micro coil Market, by Region, 2021 (%)

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Micro Coil Market to Grow at a CAGR of 4.7% to reach US$ 1,151.53 Mn Million from 2021 to 2028

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Micro Coil Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Detachable Coils, and Pushable Coils), Material (Platinum, Platinum Tungsten Alloy, and Platinum & Hydrogel), Application (Oncology, Urology, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography.

The Report Segments Global Micro Coil Market as Follows:

By Type

• Detachable Coil
• Pushable Coil

By Material

• Platinum
• Platinum Tungsten Alloy
• Platinum & Hydrogel

By Application            

• Oncology
• Urology
• Other Applications

By End User

• Hospitals
• Ambulatory Surgical Centers
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of the Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of South America