Pune India, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the embolization coils market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the embolization coils market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as type, application, material and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global embolization coils market are Cook Medical LLC, Boston Scientific Corporation, KANEKA CORPORATION, Penumbra, Inc., Shape Memory Medical INC, Johnson & Johnson Services, Inc., Terumo Corporation, Stryker Corporation, MicroPort Scientific Corporation, Medtronic plc, DePuy Synthes, Cordis Corporation, Sirtex among others. To achieve a substantial market share in the worldwide embolization coils market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A steerable catheter is inserted into the bloodstream and guided to the brain during embolization, and a post-traumatic bleeding embolization procedure is used to stop bleeding due to traumatic injuries. Materials are used to block the vessel and stop blood flow. The growth of chronic diseases combined with rising earnings will increase healthcare spending worldwide in the future, fueling the expansion of the market for embolization coils. Healthcare expenditures are predicted to rise in the coming years due to factors such as increasing earnings and an increase in chronic diseases. The market for medical devices, including embolization coils, is expected to expand as more people have access to healthcare services and can afford them. There are some factors which are hampering the growth of the market such as a lack of trained professionals and complications associated with the embolization coils. As a result of the global prevalence of cerebrovascular diseases such as cerebral aneurysms and arteriovenous malformations, as well as the increasing adoption of minimally invasive procedures, the embolization coil market is expected to grow significantly. Additionally, the development of new, more advanced embolization coils and associated technologies is predicted to increase market value for embolization coils.
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Scope of Embolization Coils Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Million |
| Segments Covered | Type, Application, Material and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Cook Medical LLC, Boston Scientific Corporation, KANEKA CORPORATION, Penumbra, Inc., Shape Memory Medical INC, Johnson & Johnson Services, Inc., Terumo Corporation, Stryker Corporation, MicroPort Scientific Corporation, Medtronic plc, DePuy Synthes, Cordis Corporation, Sirtex among others |
Segmentation Analysis
Pushable coil is expected to be the fastest-growing segment in 2022.
The type segment includes pushable coil and detachable coil. The pushable coil segment is expected to witness the highest growth rate during the forecast period. It is anticipated that the pushable coil segment will be constrained during the forecast period due to drawbacks such as the inability to move the coil and incompatibility with the catheter, which may result in the coil becoming irretrievably stuck in the catheter.
Neurology is expected to be the fastest-growing segment in 2022.
The application segment includes urology, cardiology, oncology, neurology, and others. The neurology segment is expected to witness the highest growth rate during the forecast period. The embolization coil market forecast indicates that neurology applications will grow significantly in the coming years. Cerebrovascular disorders, including aneurysms, arteriovenous malformations etc., are often treated with embolization coils in neurology. These conditions can lead to significant problems like stroke or brain damage.
Platinum tungsten alloy is expected to be the fastest-growing segment in 2022.
The material segment includes platinum tungsten alloy, platinum and platinum & hydrogel. The platinum tungsten alloy segment is expected to witness the highest growth rate during the forecast period. Platinum-tungsten alloy is an ideal strain material for noble metals. Common alloys with high tensile strength, resistivity, and resistance strain sensitivity, as well as low temperature coefficients of resistance and exceptional oxidation resistance, include PtW8 and PtW9.5.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the embolization coils market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Due to the increasing prevalence of cerebrovascular illnesses, the popularity of minimally invasive surgical procedures, and rising healthcare costs, the North American market is predicted to grow. North American physicians are expected to demand embolization coils as well as other medical equipment used in these operations as minimally invasive techniques are increasingly used to diagnose cerebrovascular illnesses.
Country Analysis
- Germany
Germany's embolization coils market size was valued at USD 70.77 million in 2022 and is expected to reach USD 106.9 million by 2030, at a CAGR of 5.3% from 2023 to 2030.
The market growth is driven by the increasing use of embolization coils in embolotherapy for endovascular diseases, traumatic injuries, cerebrovascular malformations, venous malformations, arteriovenous malformations, and pediatric vascular conditions.
- China
China’s embolization coils market size was valued at USD 73.6 million in 2022 and is expected to reach USD 113.8 million by 2030, at a CAGR of 5.6% from 2023 to 2030
Research and development activities and growing demand for minimally invasive procedures are driving the embolization coils market due to the increasing prevalence of vascular diseases.
- India
India's embolization coils market size was valued at USD 56.6 million in 2022 and is expected to reach USD 86.8 million by 2030, at a CAGR of 5.5% from 2023 to 2030.
The country’s embolization coil market is driven by in contrast to traditional surgical interventions, minimally invasive techniques that offer a faster recovery & fewer complication, among other benefits.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising cardiovascular diseases worldwide, propelling the growth of the market across the countries.
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