Embolization Coil Market to Reach USD 1365 Million by 2028

According to a new report by Vantage Market Research, the embolization coil market is expected to reach USD 1365 Million by 2028, growing at a CAGR of 5.3% from 2021 to 2028. The increasing applications of embolization coils in healthcare and government initiatives coupled with the increasing shift from clipping to coiling and gradually towards non-coiling techniques are anticipated to augment the growth of the embolization coil market within the forecast period.

Key Findings:

• The detachable segment is projected to grow at a CAGR of over 3.34% over the forecast period owing to the benefits offered with the use of it.
• The neurology segment held a market share of around 33.42% in 2020. This share is due to the increasing cloud services across the globe.
• North America is expected to expand at a CAGR of over 7.56% from 2021 to 2028. This surge is attributed to the increasing chronic diseases in the region.

Some key players in the embolization coil market include Boston Scientific Corporation, St. Jude Medical, DePuy Synthes, Stryker Corporation, Medtronic, Cook Medical, Terumo Corporation, Sirtex medical, and Cordis Corporation, among others.

The increasing applications of embolization coils in healthcare are anticipated to augment the growth of the embolization coil market during the forecast period. This is attributed to the increasing minimally invasive medical procedures across the globe. In recent years, minimally invasive procedures are being performed widely. Due to the tiny incisions with minimally invasive medical procedures, the recovery rate of patients is very fast with less discomfort. The minimally invasive procedure offers various benefits that include, few small cuts, less tissue injury, nerves and tissues, fewer traumas to the muscles, less bleeding & scarring, less trauma to organs, less pain, faster oral intake, and less hospital stay. In the case of a neurological condition, an aneurysm can be treated through the patient’s own arteries, rather than opening the skull with the help of a minimally invasive endovascular procedure. The procedure can be done with general anesthesia and requires a small cut which can be done effectively and easily. Similarly, the other procedures can be performed in case of other conditions such as oncology, cancer, and peripheral vascular diseases, among others.

The increasing technological advances easing the process of performing coil embolization are also expected to support the growth of the embolization coil market over the forecast period. The advanced technological developments include embolization coils with integrated deployment mechanism, 3D embolization coils, hydrofoil, and miniatured coil, among others. With the integrated deployment of the embolization coil mechanism the procedural costs are also reduced. Furthermore, the advance single click mechanical detachment handle technology is also likely to accelerate the growth of the embolization coil market in the near future.

Asia Pacific region is projected to grow at a substantial CAGR over the forecast period. This is attributable to the due to increasing aging population in economies like China and India.  Furthermore, the increasing percentage of chronic diseases, such as heart disease, stroke, cancer, diabetes, and obesity is also expected to support the regional growth of the market in the estimated timeframe.