NEW YORK, Nov. 07, 2017 (GLOBE NEWSWIRE) -- The global embolization coil market is expected to witness a CAGR of 4.7%, and is projected to reach USD 1,003.7 Million by 2023. Factors propelling the growth of the embolization coil market include increasing knowledge of embolization coil amongst patients, emerging new technologies and minimally invasive alternatives to traditional treatments.
The report segments the embolization coil market by Type (Detachable and Pushable), by Detachable Deployment (Platinum Coil and Coated Coil), by Application (Neurological, Oncology, Urology, and Peripheral Vascular Disease), by Region (North America, Europe, Asia-Pacific and Rest of the World (RoW)). The report studies the global embolization coil market over the forecast period (2017-2023).
Embolization is a process through which embolus is placed into the blood vessel to block the blood flow to a specific area of the body. The embolus is typically a blood clot formed due to clotting of blood cells. However, the artificial embolus is used to close off blood vessels to prevent the blood from reaching a particular part of the body to eliminate abnormal conditions such as renal aneurysm, arteriovenous fistula, hypo gastric artery embolization, endoleak embolization, GI bleeding and treatment of tumors.
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Key findings ofthe Embolization Coil Market
- The detachable coil deployment, a type of embolization coil is forecasted to register the highest growth of 6.7%, during the forecast period owing to its acceptance as a better and safer technique.
- The pushable coil deployment, another type of embolization coil being inexpensive and easy to deploy; accounted for the major share of embolization coil market, in 2016.
- The usage of embolization coil in neurology application accounted for the largest share, in 2016 owing to its extensive adoption across the globe.
- The oncology application of embolization coil is anticipated to grow at a significant rate and is expected to register the highest CAGR, during the forecast period.
- Platinum coil, a deployment method of detachable coil is forecasted to register the highest growth, over the forecast period.
- In June 2016, Terumo Corporation acquired Sequent Medical, a U.S. based developer of new aneurysm embolization device.
- The key players in the embolization coil market include Terumo Corporation, Boston Scientific, Stryker, Medtronic, Sirtex, Penumbra, Inc., Cook Medical,DePuy Synthes Companies, among others.
Embolization Coil- Treating Intracranial Aneurysms
Endovascular coil embolization, percutaneous approach to treat an intracranial aneurysm without the need of a craniotomy, from within the blood vessel.The procedure involves the use of microcatheter which is inserted into the femoral artery close to the groin and navigated to the site of the aneurysm. Small helical platinum coils are deployed through the microcatheter to fill the aneurysm, hence preventing it from further expansion and rupture. Controlled detachable coils are the most favored among others. Embolization coil can be used with other additional endovascular devices such as balloons and stents.
Embolization Coil- Regional Insight
North America accounted for the largest share in the global embolization coil market in 2016, and is expected to maintain its dominance throughout the forecast period. The steady growth of embolization coil market in the region is attributed to research and development activities resulting in the constant development of technically advanced products in the healthcare sector.
Asia-Pacific was the second largest market for embolization coil followed by North America in 2016, and is expected to sustain its position during the forecast period. The region is also expected to register the highest CAGR over the forecast period. Presence of rapidly developing economies such as China, Japan, and India are creating growth opportunities in this region. Moreover, growing and expanding medical industry in the aforementioned economies is attracting global patients for cheaper, yet advanced healthcare treatments. Therefore, expected rise in the patient population in this region is expected to increase the demand for embolization coil treatments in Asia-Pacific.
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