The Global Embolization Coil Market Size accounted for USD 897 Million in 2021 and is estimated to achieve a market size of USD 1,378 Million by 2030 growing at a CAGR of 5.1% from 2022 to 2030. The global prevalence of cerebrovascular illnesses such as cerebral aneurysms & arteriovenous malformations, as well as the rising adoption of minimally invasive procedures, are the key factors driving the embolization coil market growth. Furthermore, the introduction of new, more advanced embolization coils and associated technologies is expected to encourage the growth of the embolization coil market value.
Embolization Coil Market Report Key Highlights
Embolization coils are narrow, wire-like instruments that are introduced by a catheter into the blood vessel and deployed within an aneurysm or other vascular irregularity. The coils serve to restrict the blood flow into the aneurysm or anomaly from rupturing or causing other issues. They are most commonly utilized to treat cerebrovascular disorders such as arteriovenous malformations (AVMs), cerebral aneurysms, and arteriovenous fistulas (AVFs).
Global Embolization Coil Market Trends
Embolization Coil Market Report Coverage
|Market||Embolization Coil Market|
|Embolization Coil Market Size 2021||USD 897 Million|
|Embolization Coil Market Forecast 2030||USD 1,378 Million|
|Embolization Coil Market CAGR During 2022 - 2030||5.1%|
|Embolization Coil Market Analysis Period||2018 - 2030|
|Embolization Coil Market Base Year||2021|
|Embolization Coil Market Forecast Data||2022 - 2030|
|Segments Covered||By Type, By Material, By Application, By End-User, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Terumo Corporation, Boston Scientific, Stryker Corporation, DePuy Synthes, Medtronic, St. Jude Medical, Sirtex, Cook Medical, and Cordis Corporation.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The embolization coil refers to an endovascular intervention technique used for the treatment of intracranial ruptured or unruptured aneurysms and other disorders. The swift development of embolization techniques has permitted endovascular treatment to be applied to more complex aneurysms that were initially impossible to treat via traditional endovascular techniques. However, it is still difficult to apply this endovascular treatment method to a small branch-incorporated aneurysm. The paradigm shift from clipping to coiling and gradually towards non-coiling techniques has opened doors of opportunities in the global embolization coil market. Rising demand for minimally invasive surgery is the major factor driving the global market growth.
The growing use of minimally invasive procedures for the treatment of neurological illnesses is expected to stimulate demand for embolization coils and other medical equipment utilized in these operations. Minimally invasive techniques provide various benefits over traditional surgical intervention, such as faster recovery & fewer problems. Global healthcare expenditures are predicted to rise in the next years, owing to factors such as increasing earnings and an increased prevalence of chronic illnesses. As even more individuals have access to and are able to afford healthcare services, the market for medical devices, notably embolization coils, is expected to rise.
Embolization Coil Market Segmentation
The worldwide embolization coil market segmentation is based on the type, material, application, end-user, and geography.
Embolization Coil Market By Type
According to an embolization coil industry analysis, the detachable coil segment held the largest market share in 2021. Detachable embolization coils are primarily constructed of platinum, nickel-titanium, as well as stainless steel, and exist in a range of forms and sizes to accommodate various therapeutic applications. Moreover, factors such as the rising prevalence of neurological illnesses, technological developments in these segments, the increased uptake of minimally invasive procedures, and rising healthcare costs, the industry for detachable embolization coils is anticipated to expand in the upcoming years.
Embolization Coil Market By Material
In terms of material, platinum is a frequently used material in the embolization coils market in 2021. Platinum is a strong, biocompatible material that is corrosion-resistant and has a modest profile when used to repair an aneurysm or other vascular malformation. Due to its great radiopacity, which enables it to be easily observed under fluoroscopy, it is a common choice for the manufacturing of embolization coils. Platinum's durability and biocompatibility may make it an appealing choice for some therapeutic applications, which might boost future growth.
Embolization Coil Market By Application
According to the embolization coil market forecast, the neurology application category is predicted to grow significantly in the market over the next few years. In neurology, embolization coils are often used to treat cerebrovascular disorders such as aneurysms, arteriovenous malformations (AVMs), & arteriovenous fistulas (AVFs). These conditions can develop in brain blood vessels and put them in danger of rupturing, which can lead to significant problems like stroke or brain damage.
Embolization Coil Market By End-user
In terms of end-users, the hospital sector leads the embolization coil market in 2021. Hospitals are well-equipped to manage the treatment and diagnosis of cerebrovascular illnesses, and they have the hospital professionals, technology, and facilities to execute treatments such as embolization with embolization coils. Furthermore, hospitals are usually able to provide a better degree of support and assistance to patients undergoing these treatments, such as specialist care from neurologists as well as other medical professionals.
Embolization Coil Market Regional Outlook
The Middle East & Africa
North America Holds Dominating Share of Embolization Coil Market
Geographically, North America is the leading region of the market in 2021. Due to factors such as the rising prevalence of cerebrovascular illnesses, the growing popularity of minimally invasive surgical procedures, and rising healthcare costs, the North American market is predicted to grow. The growing use of minimally invasive techniques for the diagnosis of cerebrovascular illnesses is expected to stimulate demand for embolization coils as well as other medical equipment utilized in these operations in North America. Moreover, with rising earnings and the growing burden of chronic diseases, healthcare spending in North America is anticipated to rise in the future years. This is projected to fuel expansion in the regional embolization coil market.
Embolization Coil Market Players
Some of the top embolization coil market companies offered in the professional report include Terumo Corporation, Boston Scientific, Stryker Corporation, DePuy Synthes, Medtronic, St. Jude Medical, Sirtex, Cook Medical, and Cordis Corporation.
The estimated value of global embolization coil market in 2021 was accounted to be USD 897 Million.
The projected CAGR embolization coil market during the analysis period of 2022 to 2030 is 5.1%.
The prominent players of the global embolization coil market are Terumo Corporation, Boston Scientific, Stryker Corporation, DePuy Synthes, Medtronic, St. Jude Medical, Sirtex, Cook Medical, and Cordis Corporation.
North America held the dominating embolization coil during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for embolization coil during the analysis period of 2022 to 2030.
Increased prevalence of neurological disorders and technological advancements in product development drives the growth of global embolization coil market.
Based on type, detachable coils segment is expected to hold the maximum share embolization coil market.