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The embolization coils market is a rapidly growing sector in the medical device industry. Embolization coils are specialized devices used in minimally invasive procedures to treat various vascular conditions, such as aneurysms and arteriovenous malformations. These coils are typically made of platinum or other biocompatible materials and are designed to be inserted into blood vessels to block the flow of blood to a specific area, effectively treating the condition.
The market for embolization coils has witnessed significant growth in recent years due to several factors. Firstly, there has been an increase in the prevalence of vascular diseases and conditions, which has led to a higher demand for effective treatment options. Additionally, advancements in medical imaging technologies and interventional radiology techniques have improved the accuracy and success rate of embolization procedures, further driving the market growth. Moreover, the rising adoption of minimally invasive procedures over traditional surgical methods has also contributed to the market expansion, as embolization coils offer a less invasive and safer alternative for patients.
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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.
Regional Analysis
North America: North America is anticipated to hold a significant share in the embolization coils market. This can be attributed to factors such as the high prevalence of vascular diseases, well-established healthcare infrastructure, and a strong presence of key market players in the region. Moreover, the increasing adoption of minimally invasive procedures and favorable reimbursement policies further contribute to market growth in North America. Europe: Europe is another prominent market for embolization coils. The region benefits from advanced healthcare systems, skilled medical professionals, and a growing geriatric population. Countries such as Germany, the UK, and France are expected to contribute significantly to the market growth. Additionally, increasing awareness about minimally invasive treatment options and rising investments in healthcare infrastructure propel the demand for embolization coils in Europe. Asia Pacific: The Asia Pacific region is projected to witness substantial growth in the embolization coils market. Factors such as a large population base, increasing disposable income, and the rising prevalence of vascular diseases drive market expansion. Moreover, improving healthcare facilities, growing medical tourism, and the adoption of advanced medical technologies in countries like China, India, and Japan contribute to the market's growth potential in the region. Rest of the World: The rest of the world, including regions such as Latin America, the Middle East, and Africa, is expected to experience steady growth in the embolization coils market. Factors such as the increasing healthcare expenditure, improving healthcare infrastructure, and the rising awareness about minimally invasive procedures drive market growth in these regions. However, challenges such as limited access to healthcare facilities and economic constraints may impact market growth to some extent. Get Customization on this Report for Specific Research Solutions –
Which are Some Prominent Drivers of the Embolization Coils Market?
Increasing prevalence of vascular diseases and conditions. Advancements in medical imaging technologies and interventional radiology techniques. Growing adoption of minimally invasive procedures. Rising geriatric population. Favorable reimbursement policies. Technological advancements in embolization coil design and materials. Expansion of healthcare infrastructure in developing economies. Rising awareness about the benefits of embolization procedures. Growing demand for effective and safe treatment options.
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 EndovastecTM, the MinosTM 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
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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