Rockville, Jan. 13, 2023 (GLOBE NEWSWIRE) -- The global embolization coils market size is expected to surpass an impressive valuation of US$ 1,200 Million in 2022 and is projected to exhibit a compound annual growth rate (CAGR) of 5% from 2022 to 2032, reaching a market value of US$ 1,954.56 Million. Factors such as increasing prevalence of vascular diseases, technological advancements in embolization products and procedures, increasing research and development activities, and growing demand for minimally invasive procedures are driving the market growth.
Cardiovascular diseases (CVDs) commonly include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Factors such as tobacco use, an unhealthy diet, and physical inactivity increase the risk of heart attacks and strokes. CVDs are the leading cause of death across the globe, and they affect more people than any other disease.
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.
“Embolization coils are used to treat brain and cardiac aneurysms and other blood-related conditions. They are used as an alternative to surgical embolization to cut the blood supply to the tumor. It is used to treat various types of diseases, such as liver cancer, kidney cancer, aortic artery disorders, neuroendocrine tumors, and peripheral vascular diseases,” says an analyst at Future Market Insights.
Key Segments Profiled in the Embolization Coils Market Industry Survey
- By Type :
- Detachable Coil
- Pushable Coil
- By Application :
- Neurology
- Cardiology
- Urology
- Oncology
- Peripheral Vascular Disease
- Other
- By End-user :
- Hospitals
- Cardio Center
- Ambulatory Center
- Others
- By Material :
- Platinum
- Platinum & Hydrogel
- Platinum Tungsten Alloy
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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
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global Embolization Coils market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Type (Detachable Coil and Pushable Coil), Material (Platinum, Platinum & Hydrogel, and Platinum Tungsten Alloy), Application (Neurology, Cardiology, Urology, Oncology, Peripheral Vascular Disease, and Other), and End User (Hospital, Cardio Center, Ambulatory Center, and Other) & Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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