Research Nester’s recent market research analysis on “Embolization Coil Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global embolization coil market in terms of market segmentation by application, material, type, end-user, and by region.
Growing Concern for the Prevalence of Cardiovascular Diseases to Promote Global Market Share of Embolization Coil
The global embolization coil market is estimated to grow majorly on account of the increasing incidence of cardiovascular disorders across the globe. There are numerous factors, which have increased the risk of heart-related diseases including rising cigarette use, poor diet, dangerous alcohol consumption, and insufficient physical activity. This has significantly driven market growth. Coil embolization is the most effective and secure procedure in the coronary arteries, and in patients with congenital heart disease, coils are frequently utilized for percutaneous embolization of vascular lesions.
Globally, the number of people dying from cardiovascular disease (CVD) increased from around 12 million in 1990 to more than 20 million in 2021.
The global embolization coil market is estimated to grow majorly on account of the increasing cases of brain related disorders such as aneurysms. To stop blood flow into an aneurysm, endovascular coiling, a type of endovascular embolization is used, whereby, the aneurysm is subsequently filled with soft metal coils during coil embolization, which also reduces the risk of a rupture by filling the aneurysm. Furthermore, brain aneurysms can be safely and effectively treated with embolization using detachable coils, which are considered safe and efficient alternative to surgically cutting cerebral aneurysms.
Some of the major growth factors and challenges that are associated with the growth of the global embolization coil market are:
Growth Drivers:
· Surge in Popularity of Minimally Invasive Procedures Globally
· Rising Elderly Population
Challenges:
The high cost associated with the treatment procedure of embolization coil, and the stringent regulations are some of the major factors anticipated to hamper the global market size of embolization coil. To perform the embolization coil procedure skilled medical professionals are required, which require advanced training. Apart from this, the treatment also involves the use of sophisticated medical technology. This as a result increases the overall cost of the treatment.
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By end-user, the global embolization coil market is segmented into cardiac center, ambulatory center, hospitals. The hospital segment is to garner a notable revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment can be attributed to growing availability of non-invasive alternatives. More and more people visit hospitals owing to the availability of non-invasive procedures including embolization coil treatment. These procedures cause less pain & discomfort, and faster recovery times therefore, hospitals are experiencing an increase in patient admissions for such treatments.
In addition, by type the detachable coil segment is estimated to gain a significant market share of 60% in the coming years. The growth can be attributed to the benefits offered by this type of coil. Detachable coils are injected into the aneurysm lumen through a catheter that is inserted into a groin artery to offer a safe and dependable alternative to surgically cutting brain aneurysms. In addition, the coil is safer and simpler to deploy, and it also offers further benefits including reliability in achieving vascular occlusion. Furthermore, by application the neurology segment is set to garner a significant share shortly owing to growing prevalence of arteriovenous malformations (AVMs). Since embolization is less invasive than surgery and can be utilized to reduce the size and symptoms of an AVM, it is emerging as a secure and efficient way of treating deep or inoperable AVMs.
By region, the North America embolization coil market is to generate the highest revenue by the end of 2035. This growth is anticipated by growing advancements in medical technology. This has led to the development of advanced embolization coils in the region which have made the procedure more safe and effective. In addition, the market in Europe is set to gain notable revenue on the account of high prevalence of conditions such as cardiac aneurysms, and uterine fibroids which can be treated with embolization coils.
This report also provides the existing competitive scenario of some of the key players of the global embolization coil market which includes company profiling of Boston Scientific Corporation, Stryker Corporation, DePuy Synthes, Medtronic, St. Jude Medical, Sirtex, Cook Medical, Cordis Corporation.
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