The embolization coils market refers to the industry involved in the production and distribution of embolization coils, which are medical devices used to treat various conditions such as aneurysms, arteriovenous malformations, and tumors. These coils are inserted into blood vessels through a catheter, where they create a blood clot that blocks the flow of blood to the affected area. The global embolization coils market has been growing steadily in recent years due to the increasing prevalence of cardiovascular diseases, rising geriatric population, and technological advancements in the field of minimally invasive surgeries. The market is expected to continue to grow over the next few years, driven by factors such as the growing demand for minimally invasive surgeries and the increasing adoption of embolization procedures
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 the 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 those older than 55 years of age. Therefore, the rise in the prevalence of cardiac aneurysms is fuelling the growth of the embolization coils market.
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Key Takeaways from Market Study
- The global Embolization Coils market is expected to garner a market value of US$ 1,200 Million
- Market is projected to exhibit a compound annual growth rate (CAGR) of 5% from 2022 to 2032.
- The Europe embolization coils market size is anticipated to register commendable growth, with the United Kingdom acquiring a major share.
- North America was the leading regional segment in terms of revenue and market share.
- Based on type, the detachable coil segment holds a larger market share.
- Based on application, In 2022, the neurology segment holds the largest share of the market.
- Based on end users, the hospital segment holds the largest share of the market.
Which are Some Prominent Drivers of the Embolization Coils Market?
- Increasing Prevalence of Cardiovascular Diseases: The growing prevalence of cardiovascular diseases, such as aneurysms, arteriovenous malformations, and peripheral vascular diseases, is a major driver of the embolization coils market.
- Technological Advancements in Medical Devices: The development of new and advanced embolization coils that offer greater precision and effectiveness is driving demand in the market.
- Growing Geriatric Population: The aging population is more prone to various cardiovascular diseases, which is driving the demand for embolization coils.
- Increasing Demand for Minimally Invasive Surgeries: The growing demand for minimally invasive surgeries is driving the adoption of embolization procedures, which is further driving the growth of the embolization coils market.
- Rising Awareness about the Benefits of Embolization: The increasing awareness about the benefits of embolization, such as faster recovery time and reduced risk of complications, is also driving demand in the market.
- Availability of Reimbursement for Embolization Procedures: The availability of reimbursement for embolization procedures in developed countries is driving the growth of the embolization coils market.
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Market Competition:
- In July 2021, Terumo Medical Corporation (TMC) introduced its AZUR Vascular Plug, the first and only plug compatible with a microcatheter to occlude arteries up to 8mm in diameter. The newest addition to Terumo’s robust embolization portfolio is indicated for use to reduce or block the rate of blood flow in arteries of the peripheral vasculature.
- In April 2021, the US Food and Drug Administration (FDA) approved the Pipeline Flex Embolization Device with Shield Technology of Medtronic PLC, which was indicated primarily for brain aneurysms. Shield Technology enhances the flow diverter device by decreasing thrombogenicity caused due to the material.
- In August 2022, MicroPort Scientific Corporation announced that it has received approval from the Colombian Institute for Drug and Food Surveillance (INVIMA) for its MinosTM Abdominal Aortic Stent-Graft and Delivery System. As a brand new abdominal aortic stent-graft system independently developed by Endovastec™, the Minos™ System is designed for the interventional therapy of infrarenal aortic aneurysms. It is the first domestically made stent-graft system which features an ultra-low profile delivery system with an outer diameter of 14F.
- Boston Scientific Corporation offers the Pushable 0.018” and 0.035” Embolization Coils. These coils offer successful embolization through a systematic approach including guidewires, catheters, coils, and/or embolic materials. The VortX 18 and 35 Vascular Occlusion Coils are designed with a proprietary conical shape and an apex-first deployment. VortX Coils are pushable coils designed to provide compact, complete vascular occlusion and efficient embolization.
Key Companies Profiled
- 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
Regional Analysis For Marine Outboard Engine Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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Overall, the embolization coils market is expected to continue to grow over the next few years, driven by the increasing demand for minimally invasive surgeries and the growing prevalence of cardiovascular diseases
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