According to The Insight Partners market research study titled ‘Embolization Coils Market to 2025 – Global Analysis and Forecasts by Type, Material, Application and End User. The global embolization coils market is expected to reach US$ 1,131.24 Mn in 2025 from US$ 784.60 Mn in 2017. The market is estimated to grow with a CAGR of 4.8% from 2018-2025. The report highlights the trends prevalent in the global embolization coils market and the factors driving the market along with those that act as deterrents to its growth.
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Global embolization coils market, based on type was segmented as, detachable embolization coils and pushable coils. In 2017, the detachable embolization held the largest share of the market, by type. Additionally, the segment is also expected to grow at the fastest CAGR during the forecast period owing to better benefits offered as compared to the pushable embolization coils, also the market players operating in the market are offering maximum of the detachable embolization coils.
The market for embolization coils is expected to grow due to increase in the demand for minimally invasive procedures, rise in the prevalence of the cardiac aneurysm and progressive aging population & rise in associated chronic diseases. In addition, growth opportunities due to the interventional radiology and development in the healthcare market are likely to contribute in the growth of the embolization market in the forecast period.
The major players operating in the embolization coils market include, Terumo Corporation, Medtronic, Boston Scientific Corporation, Stryker, DePuy Synthes, Cook, Endoshape, Inc, Balth USA LLC, Penumbra, Inc, and Three Rivers Medical, Inc., among others. The market is has provided organic growth strategies to these companies by giving several product approvals. For instance, during February, 2018, Three Rivers Medical, Inc. received CE Mark (Conformité Européenne) for its Rio Embolization Coil System and has successfully treated its first ten patients.
Rise in the Prevalence Of The Cardiac Aneurysm
Cardiovascular diseases (CVDs) are the disorders of the heart and blood vessels and include cerebrovascular disease, coronary heart disease, rheumatic heart disease and other conditions. The cardiac aneurysm is majorly caused due to the blockages in the aortic artery, the disease is categorized in two diseases according to the site of blockages. The rise in the prevalence of the cardiac aneurysm is growing across the world. For instance, as per the Society for Vascular Surgery (SVS) it is stated that every year in US 2 million people are diagnosed with an abdominal aortic aneurysm. It is also stated that a rupture abdominal aortic aneurysm is the 15th leading cause of death in the country. It is most commonly seen in the people older than 55 years of age.
Growth Opportunities Due to Interventional Radiology
The current trend for the endovascular treatments or the embolization coils are the interventional radiology. The treatment is minimally invasive procedure and is done under the guidance of X-rays. The advantages of the interventional radiology has proven itself to the best treatment option for the control of the extensive blood flow. The interventional radiology is also helpful in the field of gynecology during the cesarean section procedures where the extensive blood is experienced by the patients. The rise in the prevalence for the liver and kidney cancer has contributed extensively to the need of the treatment. The rise in the geriatric population which is highly affected by the endovascular disease, brain stroke, heart stroke and chronic disease are adding up the growth for the market. Therefore, interventional radiology is highly preferred for the geriatric population to treat the diseases as it is minimally invasive procedure.
The report segments the global embolization coils market as follows:
Global Embolization Coils Market – By Type
Global Embolization Coils Market – By Material
Platinum Tungsten Alloy
Platinum & Hydrogel
Global Embolization Coils Market – By Application
Peripheral Vascular Disease
Global Embolization Coils Market – By End User
Ambulatory Surgical Centers
Global Embolization Coils Market – By Geography
Middle East & Africa
South & Central America
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