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Embolization Coil Market

Embolization Coil Market

Embolization Coil Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

145

Base Year:

2022

Date

Aug - 2023

Format:

PDF XLS PPT

Report Code:

VMR-VMR-2021-0197

Segments Covered
  • By Type By Type Pushable , Detachable
  • By Application By Application Neurology , Oncology , Urology , Peripheral Vascular Disease , Cardiology , Others
  • By End user By End user Hospitals , Cardiac centers , Ambulatory center , Other
  • By Region By Region North America, Europe, Asia Pacific , Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 905 Million
Revenue 2030Revenue 2030: USD 1363 Million
Revenue CAGRRevenue CAGR (2023 - 2030): 5.3%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Embolization Coil Market Share

The global Embolization Coil Market is valued at USD 905 Million in 2022 and is projected to reach a value of USD 1363 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 5.3% between 2023 and 2030.

Premium Insights

The Embolization Coil market has experienced remarkable growth in recent years, driven by the increasing adoption of minimally invasive treatment options for various vascular conditions. For instance, according to the Society for Vascular Surgery (SVS), 2 million Americans receive an abdominal aortic aneurysm diagnosis each year. A ruptured abdominal aortic aneurysm is listed as the 15th most common cause of mortality in the nation. More often than not, it affects those over the age of 55. Notably, this growth is occurring against the backdrop of significant global health challenges. For instance, The World Health Organization estimates that 17.9 million individuals worldwide pass away each year as a result of cardiovascular illnesses. This accounts for 35% of all deaths worldwide. Additionally, heart attacks and strokes account for 85% of these cardiovascular disease deaths.

Embolization Coil Market Size, 2022 To 2030 (USD Million)

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  • Embolization Coil market is growing because of prevalence of vascular diseases in developed countries like Us, Europe etc. For instance, The British Heart Foundation reports that 5,000 fatalities in the UK are attributed to burst aortic aneurysms each year in Europe. These cause 1 in 75 fatalities of men in this age range and are more prevalent in those who are 65 years of age and older.
  • North America generated more than 39.8% of revenue share in 2022
  • Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
  • The Detachable segment accounted for the largest market growth. It contributed over 52.5% of the total revenue share in 2022 due to its effective treatment approach and increased demand.
  • Neurology segment revealed the most significant market growth, contributing more than 32.2% of the total revenue share in 2022
  • Hospitals segment accounts for largest revenue of 38.6% in 2022

Economic Insights

The market for Embolization Coil has grown significantly. The demand for vascular therapies will increase due to the aging population, which currently accounts for 9% of the world's population and will increase to 16% by 2050. Market dynamics were influenced by healthcare infrastructure, reimbursement regulations that reduced adoption by 70–80%, and emerging economies that had 8–10% annual growth. A competitive environment with new entrants capturing up to 15% of the market share prompted innovation and price competition, while medical tourism, growing at 15-20% annually, accounted for 5-7% of procedures. Embolization procedure costs ranged from $5,000 to $15,000, and compliance costs made up 5-8% of production.

Report Coverage & Deliverables

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  • Competitor Benchmarking
  • Market Trends Heatmap
  • Custom Research Queries
  • Market Sentiment Analysis
  • Demographic and Geographic Insights

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Top Market Trends

  • Increasing prevalence of vascular diseases: Vascular conditions include brain aneurysms, arteriovenous malformations, and varicose veins are a leading source of morbidity and mortality in the world. Embolization Coil are a minimally invasive option for treating these disorders, and their rising popularity is fueling the market's expansion.
  • Technological developments: In recent years, the field of Embolization Coil has seen major technological developments. These developments have resulted in the creation of brand-new coil kinds that are safer and more efficient than earlier coil types.
  • Growing demand for minimally invasive procedures: Patients are increasingly choosing minimally invasive procedures over open surgery, which is driving up demand for these operations. Embolization Coil are a less invasive therapeutic option, and the market is expanding as a result of rising demand for them.
  • Growing research and development: The field of Embolization Coil is experiencing a tremendous increase in research and development activity. The goal of this research is to create novel coil designs and materials that are even more efficient and secure than currently used coil kinds.
  • Increased use of coils in combination with other therapies: Embolization Coil are increasingly employed in conjunction with other procedures, such as surgery and radiation therapy. This is so that the efficacy of various other therapies can be increased with the use of coils.

Market Segmentation

Embolization Coil The global Embolization Coil market can be categorized into Type , Application, End user, Region . The Embolization Coil market can be categorized into Pushable , Detachable based on Type . The Embolization Coil market can be categorized into Neurology , Oncology , Urology , Peripheral Vascular Disease , Cardiology , Others based on Application. The Embolization Coil market can be categorized into Hospitals , Cardiac centers , Ambulatory center , Other based on End user. The Embolization Coil market can be categorized into North America, Europe, Asia Pacific , Latin America, Middle East & Africa based on Region .

Below tree is interactive. You can click the nodes to get more information.

Based on Type

The Detachable coils holds the largest share

Detachable coils in the Embolization Coil market, hold the majority of the market share due to their adaptability and effectiveness. These coils are made of materials that enable them to be taken out of the catheter after implantation, giving doctors complete control over deployment and limiting migration to undesirable locations. Detachable coils are used to treat a wide variety of vascular diseases, including brain aneurysms, arteriovenous malformations, varicose veins, and even cardiac arrhythmias. Their widespread use can be due to their excellent patient tolerance, powerful capacity to restrict blood flow, and simplicity of insertion.

Based on Application

Neurology will dominate the market during Forecast Period

The market for Embolization Coil is expected to be dominated by the neurology industry due to the rising prevalence of neurological disorders including cerebral aneurysms and arteriovenous malformations. Embolization Coil, which prevent blood flow to the aneurysm and prevent it from rupturing and causing a stroke, are used to treat cerebral aneurysms, which are vascular bulges in the brain that are prone to rupture. Similar to this, Embolization Coil help treat arteriovenous malformations (AVMs), abnormal connections between brain arteries and veins that are prone to bleeding. By obstructing AVM blood flow, these coils reduce the growth of the AVM and the risk of bleeding.

Based on End-user

Hospitals will account for largest market share

The market for Embolization Coil is anticipated to be dominated by hospitals because hospitals are the principal locations for vascular disease diagnosis and treatment. Embolization Coil are often placed into the body by interventional radiologists in a hospital environment to treat a range of vascular disorders.

Based on Region

North America will lead the market

North America is predicted to lead the embolization coil market due to its high frequency of vascular disorders such cerebral aneurysms and arteriovenous malformations. Innovation in coil designs and materials result from the area's emphasis on research and development. Demand for Embolization Coil is increasing because to a concentration of key companies and an older population vulnerable to vascular problems. Further driving the market's expansion in North America are the tendency toward less invasive procedures and improved reimbursement practices.

Competitive Landscape

The global Embolization Coil market is fragmented, including a diverse array of the presence of several key players, ranging from established medical device manufacturers to emerging companies specializing in interventional treatments. For instance, in august 2022, The Colombian Institute for Drug and Food Surveillance (INVIMA) has granted approval for MicroPort Scientific Corporation's MinosTMM Abdominal Aortic Stent-Graft and Delivery System. The MinosTM System, a brand-new abdominal aortic stent-graft system created separately by EndovastecTM, is intended for the interventional treatment of infrarenal aortic aneurysms. It is the first stent-graft system to be produced in the country with an ultra-low profile delivery system with an outside diameter of 14F.

The players in the global Embolization Coil market include Terumo Corporation,Cook Medical LLC, Johnson & Johnson Services Inc., Shape Memory Medical Inc,Medtronic Inc, Boston Scientific Corporation, Stryker Corporation, KANEKA CORPORATION, MicroPort Scientific Corporation, Penumbra Inc. among others.

Recent Market Developments

  • August 2023: Obsidio, Inc., a privately held firm that created the Gel Embolic Material (GEMTM) technology used to embolize blood vessels in the peripheral vasculature, has been acquired by Boston Scientific Corporation (NYSE: BSX).

Segmentation of the Global Embolization Coil Market

Parameter Details
Segments Covered

By Type

  • Pushable
  • Detachable

By Application

  • Neurology
  • Oncology
  • Urology
  • Peripheral Vascular Disease
  • Cardiology
  • Others

By End user

  • Hospitals
  • Cardiac centers
  • Ambulatory center
  • Other

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Terumo Corporation
  • Cook Medical LLC
  • Johnson & Johnson Services Inc.
  • Shape Memory Medical Inc
  • Medtronic Inc
  • Boston Scientific Corporation
  • Stryker Corporation
  • KANEKA CORPORATION
  • MicroPort Scientific Corporation
  • Penumbra Inc.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global Embolization Coil valued at USD 905 Million in 2022 and is expected to reach USD 1363 Million in 2030 growing at a CAGR of 5.3%.

  • The prominent players in the market are Terumo Corporation,Cook Medical LLC, Johnson & Johnson Services Inc., Shape Memory Medical Inc,Medtronic Inc, Boston Scientific Corporation, Stryker Corporation, KANEKA CORPORATION, MicroPort Scientific Corporation, Penumbra Inc..

  • The market is project to grow at a CAGR of 5.3% between 2023 and 2030.

  • The driving factors of the Embolization Coil include

    • Increasing prevalence of vascular disorders and minimally invasive treatment demand

  • North America was the leading regional segment of the Embolization Coil in 2022.