Embolization Coil Market size to grow by USD 481.9 million from 2022 to 2027, Technavio
01 Apr 2024
NEW YORK, April 1, 2024 /PRNewswire/ -- Innovations in medical technology are revolutionizing treatment options for various health conditions, particularly in the field of interventional radiology. The embolization coil market is witnessing significant growth, fueled by increasing cases of aneurysms and advancements in coil technology. Here's a comprehensive overview of the market dynamics, key drivers, notable trends, and challenges shaping the industry. The embolization coil market is projected to expand by USD 481.9 million, with a notable CAGR of 5.69% from 2022 to 2027.
Continue Reading
Preview
Source: PRNewswire
Technavio has announced its latest market research report titled Global Embolization Coil Market 2023-2027
Request a Free sample report
Market Dynamics:
The surge is attributed to rising incidences of aneurysms, favorable reimbursement coverage, and heightened demand for detachable coils. However, complications associated with coil usage pose a challenge to market growth.
Key Driver:
Aneurysms, particularly brain aneurysms, are becoming increasingly prevalent, driving the demand for therapeutic devices like embolization coils. Factors such as high blood pressure, smoking, and arterial defects contribute to the rise in aneurysm cases, necessitating early diagnosis and treatment with embolization coils to prevent ruptures.
Significant Trend:
Technological advancements are driving market trends, with innovations like 3D embolization coils, miniaturized coils, and hydrocoils enhancing treatment efficacy. These advancements improve precision, thrombus formation, and occlusion efficacy, thereby driving market demand.
To learn more about this report -
Request a Free sample report
Major Challenge:
Complications associated with embolization coil usage, including coil migration and neurological deficits, pose significant challenges. Misplacement, incomplete retrieval, and mechanical failures contribute to these complications, necessitating careful patient monitoring and procedural refinement.
Key Customer Landscape:
The market analysis includes insights into adoption rates across different regions and key purchase criteria. Understanding customer preferences and drivers of price sensitivity enables companies to tailor their growth strategies accordingly.
Major Companies:
Leading players in the embolization coil market include BALT Group, Cardinal Health Inc., Cook Medical LLC, Johnson and Johnson, Medtronic Plc, and more. These companies employ various strategies such as partnerships, mergers, and product launches to enhance their market presence.
Get a glance of this market -
Request a Free sample report
Market Segmentation:
The neurology segment dominates the market, driven by the increasing prevalence of neurological disorders like brain aneurysms and arteriovenous malformations. Advancements in coil technology contribute to the segment's growth, with hydrocoils and micro coils gaining traction.
Regional Analysis:
North America accounts for a significant portion of the global market share, attributed to well-established healthcare infrastructure, skilled professionals, and extensive insurance coverage. Technological advancements and the trend of medical tourism further contribute to market growth in the region.
Market Analyst Overview:
The embolization coil market plays a vital role in interventional radiology, addressing a range of conditions including cardiovascular diseases. Ongoing research and development efforts aim to enhance treatment efficacy and patient outcomes despite challenges posed by complications.
For more insights on the market -
Request a Free sample report
Conclusion:
The embolization coil market is poised for substantial growth, driven by increasing disease prevalence and technological advancements. Companies must navigate challenges associated with complications and focus on innovation to capitalize on emerging opportunities in the market.
Analyst Review
The Embolization Coil Market is witnessing a surge in demand owing to advancements in interventional radiology techniques and an increasing prevalence of cardiovascular diseases worldwide. Bronchial Artery Embolization (BAE) stands out as a crucial procedure, particularly for addressing severe hemoptysis (SH), a life-threatening condition. As the field of interventional radiology (IR) continues to evolve, the market for vascular embolization techniques, including coil embolization, is experiencing significant growth.
Key players such as Merit Medical Systems Inc. are at the forefront, introducing novel products like the IMPEDE-FX Embolization Plug, designed to cater to the evolving needs of patients and healthcare providers. Regulatory bodies such as the FDA in the United States and Japan's Pharmaceutical and Medical Devices Agency play pivotal roles in ensuring the safety and efficacy of these therapeutic devices.
The market is segmented into various categories, including non-coiling devices, catering to a spectrum of chronic diseases such as ischemic heart disease (IHD), aortic aneurysms, and cerebral aneurysms. With an emphasis on minimally invasive surgeries, balloon angioplasty procedures, endorsed by institutions like the American College of Cardiology, are gaining traction among both patients and medical specialists.
Peripheral embolization devices are witnessing increased adoption, particularly for conditions such as arteriovenous malformations and aortic dissection diseases. However, challenges persist, including disease identification, coil misplacement, and retrieval issues, which can lead to complications such as coil stretching and non-target embolization.
Complications associated with embolization coils range from aneurysmal perforation to neurological impairments, stroke, and even death in severe cases. Thromboembolic events, puncture site hematoma, and vasospasm are among the potential risks encountered during and after the procedure. Moreover, mechanical issues and console flaws necessitate continuous innovation and stringent quality control measures.
The market's growth trajectory is further propelled by the rising demand for therapeutic devices to address brain aneurysms, arterial defects, and patient monitoring solutions. With an increasing focus on disease prevalence and patient outcomes, healthcare systems globally are investing in research and development activities to mitigate risks associated with coil migration, rupture, and other complications.
In conclusion, the embolization coil market is witnessing robust revenue growth driven by advancements in technology, coupled with a growing demand for minimally invasive treatments for cardiovascular and cerebrovascular conditions. However, addressing safety concerns and optimizing patient outcomes remain paramount for market participants and healthcare stakeholders alike.
For more insights on the market -
Request a Free sample report
Market Overview
The Embolization Coil Market is witnessing substantial growth driven by advancements in interventional radiology techniques such as Bronchial Artery Embolization (BAE) for treating Severe Hemoptysis (SH). Interventional Radiology (IR) staff are increasingly relying on minimally invasive procedures like vascular embolization to address conditions such as Ischemic Heart Disease (IHD). Research studies published in journals like Cureus Journal of Medical Science highlight the efficacy of these techniques. Key players like Merit Medical Systems Inc are introducing novel products and technologies, expanding the market further. Regulatory bodies such as the FDA are ensuring the safety and efficacy of these interventions. The market is diversifying with the emergence of non-coiling devices segment, catering to the needs of patients with chronic diseases. Collaboration with medical associations like the American College of Cardiology is essential for driving innovation and enhancing patient outcomes.
For more insights on the market -
Request a Free sample report
ToC:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
-Drugs
-Chat with Hiro
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.