Embolization Coil Market Size is Expected to Reach at USD 1,378 Million by 2030, Registering a CAGR of 5.1%, Owing to Growing Demand for Minimally Invasive Treatments
The Global Embolization Coil Market Size is predicted to reach USD 1,378 Million by 2030 from USD 897 Million in 2021, at a CAGR of 5.1% between 2022 and 2030, as per the Acumen Research and Consulting
The embolization coil market is a rapidly growing segment of the medical device industry. Embolization coils are small, wire-like devices that are used to block blood vessels or other passages in the body in order to treat conditions such as bleeding, cancer, and vascular malformations. The paradigm shifts from clipping to coiling and gradually towards non-coiling techniques have 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. Among the other factors responsible for the growth of this market include minimally invasive alternatives offered by this procedure over traditional treatment, growing patient awareness, and the introduction of newer technology resulting in a higher success rate.
Embolization coil offers a minimally invasive procedure and the best alternative to treat aneurysms. Preference from patients and physicians for minimally invasive treatment procedures is expected to drive the demand for embolization coils. Endovascular coiling is a minimally invasive alternative to surgical clipping that decreases the procedure duration, complication, and recovery time. Embolization particle procedures offer a minimally invasive alternative to hysterectomies, myomectomies, and tumor and vascular anomaly excisions. Endovascular cerebral aneurysm repair accounts for the main parts of the hemorrhagic stroke, therefore market would be mainly credited to embolic coils, aneurysm stents and flow diverting devices, remodeling balloons, and other associated access devices as well as a tiny fragment of the liquid embolic market.
Embolization Coil Market Statistics
- Global embolization coil market value was worth USD 897 Million in 2021, with a 5.1% CAGR from 2022 to 2030
- North America embolization coil market share occupied around 38.8% in 2021
- Asia-Pacific embolization coil market growth is estimated to attain 6% CAGR from 2022 to 2030
- Boston Scientific is a leading manufacturer of embolization coils and other medical devices, and its products are used to treat a variety of medical diseases, including cancer, heart disease, and peripheral vascular disease
- Development of new and innovative technologies, such as bioactive coils, propel the embolization coil market revenue
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Embolization Coil Market Trends
Rising Prevalence of Chronic Diseases Drives the Embolization Coil Market
The rising prevalence of chronic conditions such as cancer, cardiovascular disease, and peripheral vascular disease is propelling the embolization coil market. Most of these illnesses necessitate therapies that are minimally invasive and have a high success rate, and embolization coils have become a popular therapeutic choice for many of them. In oncology, for example, embolization coils can be used to restrict blood arteries that feed a tumor, which can assist to delay or stop tumor growth and lower the danger of bleeding. Furthermore, as the global population ages, as well as the prevalence of chronic diseases, rises, so will the demand for minimally invasive therapies such as embolization coils. Increasing awareness and use of embolization coils therapy in emerging nations will drive market growth even more. Overall, the rising frequency of chronic diseases is a major driver of the embolization coil market, as more people use these devices to treat a variety of medical ailments.
Embolization Coil Market Segmentation
Acumen Research and Consulting has segmented the global embolization coil market by material, type, end-user, and application.
- Based on the material, the market is categorized into platinum tungsten alloy, platinum, and platinum & hydrogel. According to the embolization coil market forecast, the platinum tungsten alloy segment is estimated to grow significantly over the next several years.
- Based on the type, the industry is divided into detachable coils, and pushable coils. Among these segments, pushable coils are most likely to lead the market over the forecasting years; however, detachable coils are expected to surpass pushable coils over the forecasting years due to higher precision and improved safety. The disadvantages connected with the deployment of pushable coils include the likelihood of becoming stuck during severe curves in blood vessels, difficulties in mobility once deployed, and the possibility of becoming jammed in catheters, to name a few.
- Based on the end-user, the market is classified into cardio center, ambulatory center, hospitals, and others.
- Based on the application, the market is bifurcated into cardio center, ambulatory center, hospitals, and others.
Embolization Coil Market Regional Overview
Geographically, the global embolization coil market can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. According to an embolization coil industry analysis, North America leads the global market in 2021, followed by Asia-Pacific. This is primarily due to the availability of modern healthcare facilities in the United States and Canada, as well as higher healthcare expenditure in the region. Throughout the forecast period, North America is likely to continue its leading position in the global embolization coil market. North America dominated the market due to higher healthcare spending and the availability of technologically advanced treatment facilities. Asia-Pacific is predicted to be the fastest-growing market for embolization coils during the forecast period, with the highest CAGR.
Embolization Coil Market Players
Some of the prominent embolization coil market companies are DePuy Synthes, Terumo Corporation, Cook Medical, Stryker Corporation, Medtronic, St. Sirtex, Cordis Corporation, Boston Scientific, and Jude Medical.
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