Embolization Coils Market Size, Share, Analysis, Trends, Growth Report, 2030

Embolization Coils Industry Prospective:

The global embolization coils market size was worth around USD 1234.68 million in 2022 and is predicted to grow to around USD 1784.59 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.77% between 2023 and 2030.

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Embolization Coils Market: Overview

Embolization coils are medical devices used during endovascular coiling procedures. Interventional neuroradiology (IR), another name for endovascular treatment, is the process of treating intracranial aneurysms or cerebral aneurysms. Embolization coils are also used to treat bleeding in any other part of the body. During the medical procedure, these medical devices are used to reduce blood flow to the aneurysm using advanced and delicate microsurgical equipment that is in the form of detachable platinum wires.

Once the clinician inserts either one or more embolization coils into the aneurysm, the bleeding should stop. The insertion process continues until the blood flow to the aneurysm does not halt completely. Endovascular coiling is one of the two main treatments currently available for managing cerebral aneurysms with the other common process being surgical clipping. One of the key advantages associated with the use of embolization coils is the convenience of deploying and controlling the medical device along with superior radiopacity which is an indication of the level of opacity to X-ray and radio wave section of the electromagnetic spectrum.

Key Insights:

• As per the analysis shared by our research analyst, the global embolization coils market is estimated to grow annually at a CAGR of around 4.77% over the forecast period (2023-2030)
• In terms of revenue, the global embolization coils market size was valued at around USD 1234.68 million in 2022 and is projected to reach USD 1784.59 million, by 2030.
• The embolization coils market is projected to grow at a significant rate due to the rising cases of cerebral aneurysms
• Based on application segmentation, cardiology was predicted to show maximum market share in the year 2022
• Based on material segmentation, platinum was the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Embolization Coils Market: Growth Drivers

Rising cases of cerebral aneurysms to drive market growth

The global embolization coils market is projected to grow owing to the rising number of cases related to cerebral aneurysms. The condition results in the excessive ballooning of the blood vessels present in the brain. In case a brain aneurysm ruptures or leaks, it can lead to bleeding in the brain also known as hemorrhagic stroke. Reports indicate that more than 500,000 deaths occur worldwide caused by brain aneurysms. Around 50% of the number of fatalities are people below the age of 50 years. There are several risk factors that increase the chances of brain aneurysms that are caused by thinning artery walls. Some factors are present at birth while some are developed with age. For instance, the condition is generally found in people between the age group of 30 to 60. Moreover, the female population is at a higher risk of contracting the medical issue. Another significant reason for brain aneurysms is cigarette smoking. Various official surveys conclude that an average of 19% of Europe’s population is addicted to smoking every day.

People who regularly consume some form of recreational drug or alcohol have a higher chance of being affected by brain aneurysm. In fiscal year 2022-2023, India witnessed a surge in demand for alcohol by 14% as compared to the last period. Such trends are observed on a global scale and are not limited to specific countries. Changing lifestyles, eating habits, and easy access to drugs, cigarettes, and alcohol are some of the reasons for the increased consumption of harmful products leading to more patients every year.

Embolization Coils Market: Restraints

Risk of side-effects associated with embolization coils to restrict market growth

The global embolization coils market growth may be limited since there is a certain percentage of risk linked to the use of embolization coils. Patients may show some form of allergic reaction to the coils and it may lead to infection if it is not placed correctly or if there was any error involved during surgical intervention. Additionally, other complications may arise during the procedure. These complications include aneurysm rupture, stroke, or even death. Medical professionals rate the risk of these risks at 5% to 9%.

Embolization Coils Market: Opportunities

Increasing research & development (R&D) in the field of embolization coils to create growth possibilities

Since endovascular coiling is one of the most common procedures carried out to treat aneurysms, the scientific community has enhanced R&D activities aiming to develop more efficient embolization coils. This can be confirmed by the recent introduction of new coils. In June 2023, the US Food and Drugs Administration (FDA) approved Embold Soft & Packing coils developed by Boston Scientific. The coils can be used during minimally invasive procedures. With this move, the company has simplified the challenges faced by medical professionals when managing different patient needs by creating a simple platform with 3 coils. In December 2019, Kaneka Corporation launched i-ED Coil™. The product was under review by the FDA but the company was aiming to reach global sales demand worth 10 billion yen by the end of 2023. Such innovations are likely to take the embolization coils industry growth forward during the forecast period.

Embolization Coils Market: Challenges

Lack of skilled professionals and health infrastructure to challenge market expansion

Endovascular coiling is an extremely delicate procedure. It should be conducted by trained and skilled professionals in well-equipped medical centers only. However, there is a significant gap observed in the availability and demand for surgeons and doctors, especially in war-torn countries or nations plagued with socioeconomic issues. This poses a major challenge for the global market player to overcome during the projection period.

Embolization Coils Market: Segmentation

The global embolization coils market is segmented based on application, type, material, and end-user.

Based on application, the global market segments are cardiology, neurology, peripheral vascular diseases, oncology, urology, and others. The highest growth was observed in the cardiology segment since the most common aneurysms are detected in the aorta which is responsible for supplying oxygenated blood to the brain from the heart. The increasing number of patients with several types of cardiovascular conditions is caused by a sedentary lifestyle, lack of exercise, genetic factors, and several other reasons. As reported by the World Health Organization (WHO), cardiovascular diseases (CVDs) lead to the deaths of nearly 17.9 million people globally per year.

Based on type, the embolization coils industry divisions are pushable coil and detachable coil.

Based on material, the global market is divided into platinum tungsten alloy, platinum & hydrogel, and platinum. In 2022, the highest growth was registered in the platinum segment of the embolization coils industry due to the excellent biocompatibility of the material as compared to other options. Moreover, platinum-based embolization coils do not corrode with time while simultaneously being compatible with imaging tests as they show up easily. They are also highly durable and long-lasting. The half-life of platinum is around 50 years.

Based on end-user, the global market is segmented into cardio centers, hospitals, ambulatory centers, and others.

Embolization Coils Market: Report Scope

Embolization Coils Market: Regional Analysis

North America to be driven by its excellent healthcare infrastructure

The global embolization coils market is projected to witness the highest growth in North America. The primary reason is expected to be in terms of the presence of a robust healthcare infrastructure in the US and Canada with the majority of the population having access to medical care. In recent times, government investments in healthcare have further surged due to the rise in healthcare tourism and increased domestic demand. The growing prevalence of cancer and several CVDs has pushed the US region to open more specialty care units focusing on critical surgical interventions including endovascular coiling.

The rising number of people addicted to alcohol and drugs along with the growing obesity index has resulted in increased patient count with aneurysms. A recent report by the American Addiction Centers reported that nearly 19.7 million US adults are battling with substance abuse problems. The presence of key coil manufacturers as well as growing research & development undertakings could assist in regional growth trends. North American manufacturers are expanding businesses in emerging countries which will allow them to have a stronger hold in the embolization coils industry.

Embolization Coils Market: Competitive Analysis

The global embolization coils market is led by players like:

• Johnson & Johnson (through its subsidiary
• DePuy Synthes)
• Medtronic
• Terumo Corporation
• Boston Scientific
• Stryker Corporation
• Acandis GmbH
• Cook Medical
• Sirtex Medical Limited
• Penumbra Inc.
• Shape Memory Medical Inc.
• MicroVention Inc.
• Kaneka Corporation
• Balt Extrusion
• AngioDynamics
• B. Braun Melsungen AG.

The global embolization coils market is segmented as follows:

By Application

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

By Type

• Pushable Coil
• Detachable Coil

By Material

• Platinum Tungsten Alloy
• Platinum & Hydrogel
• Platinum

By End-User

• Cardio Center
• Hospitals
• Ambulatory Center
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa