Newark, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the USD 1,200 million in 2022 Embolization Coils market will reach USD 1,772 million by 2030. The main drivers driving the global embolization coils market are the rising incidence of vascular disorders, technological developments in embolization products and procedures, rising research and development activities, and rising demand for minimally invasive procedures. Additionally, compared to conventional surgeries, the numerous benefits of minimally invasive procedures, such as less surgical discomfort, injury, scars, hospital stay, higher accuracy, and quick recovery time, are enticing more patients to choose minimally invasive balloon angioplasty surgery.
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Key Insight of the Embolization Coils Market
Europe to account for the largest market size during the forecast period.
Europe is expected to have the largest embolization coils market share. The market for embolization coils in the region has been increasing owing to the development of the embolization coil market in Europe throughout the forecast period will be supported by the availability of highly skilled experts, a well-established and well-equipped healthcare infrastructure, and extensive healthcare insurance coverage.
The pushable coil segment is expected to augment the embolization coils market during the forecast period.
The pushable coil segment is anticipated to dominate the market over the forecast period. Pushable coils are increasingly being used in the interventional radiology, which increases the demand for the segment. However, the segment is expect to be constrained during the forecast period due to drawbacks such as the inability to be moved and incompatibility with the catheter.
The neurology segment market size is 254.4 million in 2022
The neurology segment held the largest market share in 2022 and is expected to continue during the forecast period. Embolization coils are typically utilised to treat arteriovenous malformations (AVMs) and brain aneurysms in neurology, propelling the segment’s growth.
Advancement in market
In October 2020, In order to remove stubborn clots and facilitate revascularization for patients with acute ischemic stroke in Europe, Johnson and Johnson introduced NIMBUS.
In March 2021, First patients have been enrolled in the crucial Embrace Hydrogel Embolic System (HES) global randomised clinical study for the treatment of hypervascular tumours, according to Instylla Inc.
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Market Dynamics
Driver: The rise in prevalence of cardiac aneurysms
Cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other ailments are examples of cardiovascular diseases (CVDs), which are disorders of the heart and blood vessels. Heart attacks and strokes are made more likely by smoking, eating poorly, and not exercising. More individuals than any other disease are affected by CVDs, which are the main cause of death in the world. Blockages mostly bring on cardiovascular aneurysms in the aortic artery; the disease is divided into two types depending on where the blockages are located. The blockages are identified as thoracic aortic aneurysms or abdominal aortic aneurysms, depending on where they are located. All across the world, cardiac aneurysm prevalence is increasing.
Restraint: Embolization coil complications
It is anticipated that embolization coil complications will impede the global market expansion. Coil migration and blockage of a non-target artery are examples of these issues. Stroke, pulmonary embolism, or myocardial infarction are caused by coil migration. Vessel dissection, rupture, and perforation are further coil embolization side effects.
Opportunity: Technological advancements
The creation of 3D embolization coils, embolization coils with integrated deployment mechanisms, hydrocoils, and miniatured coils are just a few examples of the technological developments that have helped the market expand. The procedure costs are decreased using embolization coils with integrated deployment mechanisms. Additionally, introducing one-click mechanical detachment handle technology will simplify the installation of detachable coils, fostering market expansion.
Challenge: High cost
It is anticipated that high production costs will impede market expansion. In the coming years, the transcatheter embolization and occlusion market is anticipated to face challenges due to the existence of strict regulatory framework for product commercialization.
Some of the major players operating in the embolization coils market are:
● Terumo Corporation
● Medtronic plc
● KANEKA CORPORATION
● Stryker Corporation
● Boston Scientific Corporation
● Cook Medical LLC
● MicroPort Scientific Corporation
● Penumbra, Inc
● Shape Memory Medical INC,
● Johnson & Johnson Services, Inc.
Key Segments cover in the market:
By Type:
● Detachable Coil
● Pushable Coil
By Application:
● Neurology
● Urology
● Peripheral Vascular Disease
● Oncology
● Cardiology
● Other
By Region
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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