North America Micro Coils Market is expected to reach US$ 660.98 Mn by 2028

Pushable Coils Segment to Dominate North America Micro Coils Market During 2021–2028

According to The Insight Partners market research study on “North America Micro Coils Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Material, Application, and End User” is expected to reach US$ 660.98 million by 2028 from US$ 488.31 million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the North America micro coils market along with the drivers and restraints pertaining to the market growth. Increasing prevalence of cardiac aneurysm and growing incidence of neurovascular diseases are the major factor driving the growth of the North America micro coils market. However, costly embolization micro coils hinders the growth of North America micro coils market.

In case of COVID-19, North America is highly affected specially the US. In the US, due to an increasing number of infected patients, healthcare professionals and leading organizations are distracting the flow of healthcare resources from research & development to primary care, which is slowing down the process of innovation. According to Society of Thoracic Surgeons, Cardiovascular surgery volumes in the United States fell by more than half during the COVID-19 pandemic’s first wave, with the biggest drops observed in the New England and mid-Atlantic regions. The exorbitant number of COVID cases have resulted in cancellation of doctor's appointment, decreased in demand for the elective neurosurgery, disruption in supply chain due to long period of lockdown. For instance, Medtronic plc, a company that generates the majority of its sales and profits from the U.S., has suffered a decrease in revenue of 1 percent in the fiscal year 2020 compared to the fiscal year 2019 in the neurovascular category.However, most of the countries in the North America has started vaccinating its population on a larger scale. This is expected to lower the intensity of COVID19 pandemic in the region. Owing to which the patients post vaccination are undergoing the pending medical procedures such as the surgeries, vascular treatments, and others. The healthcare systems in the region has regained its capacity since the start of the pandemic. The patient care has been improving as compares to the earlier time of the pandemic where in the line of treatments was not well defined. However, the development of the treatments and reductions in the death rate has gained confidence in the doctors and patients. Thus, it is expected to have low negative impact on the Micro Coil market in the region.

The North America micro coils market is segmented into the type, material, application, end user, and country. The market based on type is segmented into detachable coils and pushable coils. The pushable coils segment dominated the North America micro coils market in 2020 and is also expected to be fastest growing during forecast period. The market based on material is segmented into platinum, platinum tungsten alloy, and platinum & hydrogel. The platinum segment dominated the North America micro coils market in 2020 and is also expected to be fastest growing during forecast period. The market based on application is segmented into oncology, urology, and others. The others segment dominated the North America micro coils market in 2020 and is also expected to be fastest growing during forecast period. The market based on end user is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment dominated the North America micro coils market in 2020 and is also expected to be fastest growing during forecast period.

Balt USA LLC; Boston Scientific Corporation; Classic Coil Company; Cook Medical LLC; Johnson and Johnson Medical Devices (Depuy Synthes); KANEKA CORPORATION; Medtronic; Penumbra, Inc.; Stryker Corporation; and Terumo Corporation are among the leading companies in the North America micro coils market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Stryker has received premarket approval for Neuroform Atlas Stent System from US FDA. Neuroform Atlas Stent System consists of Target XL Detachable Coil for the treatment of wide-neck, intracranial aneurysms.

The Report Segments the North America Micro Coils Market as Follows:

North America Micro Coils Market – By Type

• Detachable Coils
• Pushable Coils

North America Micro Coils Market – By Material

• Platinum
• Platinum Tungsten Alloy
• Platinum & Hydrogel

North America Micro Coils Market – By Application

• Oncology
• Urology
• Others

North America Micro Coils Market – By End User

• Hospitals
• Ambulatory Surgical Centers  
• Others

North America Micro Coils Market – By Country

• US
• Canada     
• Mexico