Embolization Coils Market

Embolization Coils Market Outlook (2022-2032)

The global embolization coils market is expected to surpass an impressive valuation of US$ 1,200 Million in 2022 and is projected to exhibit a compound annual growth rate (CAGR) of 5% from 2022 to 2032. Embolization coils are used to treat brain and cardiac aneurysms and other blood-related conditions.

They are used as an alternative to surgical embolization to cut the blood supply to the tumor. It is used to treat various types of diseases, such as liver cancer, kidney cancer, aortic artery disorders, neuroendocrine tumors, and peripheral vascular diseases.

Factors such as increasing prevalence of vascular diseases, technological advancements in embolization products and procedures, increasing research and development activities, and growing demand for minimally invasive procedures are driving the market growth.

Furthermore, according to the 2020 updates of the World Health Organization, ischemic heart disease is responsible for 16% of the world's total deaths annually. Additionally, according to the World Health Organization, an estimated 17.9 million people die due to cardiovascular diseases worldwide, each year. This represents 35% of global deaths. Additionally, 85% of these cardiovascular disease deaths are due to heart attack and stroke. Considering the aforementioned facts and figures, the market is projected to exhibit a good rate of growth.

Report Attributes	Details
Expected Market Value (2022)	US$ 1,200 Million
Anticipated Forecast Value (2032)	US$ 1,954.56 Million
Projected Growth Rate (2022-2032)	5% CAGR
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

2017-2021 Embolization Coils Demand Analysis vs. Forecast 2022-2032

The outbreak of COVID-19 impacted the embolization coil market. Various research studies have proven that embolization coil techniques were safe during the COVID-19 pandemic if performed with utmost care and precautions.

According to a research study titled "Bronchial Artery Embolization Performed in COVID-19 Patients: Tolerance and Outcomes", published in 2020, the results demonstrated that management of severe hemoptysis (SH) in COVID-19 patients with bronchial artery embolization (BAE) was feasible and efficient, and concerning the safety guidelines, it is of utmost importance to protect the interventional radiology (IR) staff. Thus, owing to the aforementioned factors, the market was impacted during the COVID-19 pandemic.

However, now, when the industries are getting back to their normal functioning, the global demand for Embolization Coils is projected to increase at a CAGR of 5% during the forecast period between 2022 and 2032, reaching a total of US$ 1,954.56 Million in 2032, according to a report from Fact.MR. From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 3%.

Which are Some Prominent Drivers of the Embolization Coils Market?

Rise in Prevalence of Cardiac Aneurysm to Push the Market Growth

Cardiovascular diseases (CVDs) commonly include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Factors such as tobacco use, an unhealthy diet, and physical inactivity increase the risk of heart attacks and strokes. CVDs are the leading cause of death across the globe, and they affect more people than any other disease.

The rise in prevalence of cardiac aneurysms is growing across the world. For instance, to the Society for Vascular Surgery (SVS) it is stated that every year in the 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 those older than 55 years of age.

The cardiac aneurysm is majorly caused due to blockages in the aortic artery, the disease is categorized into two diseases according to the site of blockages. The blockages are seen in the chest, or the abdomen also called thoracic aortic aneurysm and abdominal aortic aneurysm respectively. Therefore, the rise in the prevalence of cardiac aneurysms is fueling the growth of the embolization coils market.

What are the Challenges Projected to be Faced by the Market?

High Costs to Hinder Market Growth

Despite the advantages shown through various clinical studies, there are various barriers that hinder the usage of Embolization Coils. The high cost associated with the procedures, stringent regulations, and complications associated with these procedures are expected to hinder the growth of the market studied.

Region-Wise Insights

What Makes North America the Largest Market for Embolization Coils?

Increased prevalence of cancer to drive the adoption of Embolization Coils

According to the American Cancer Society estimates, in 2020, there were approximately 89,500 cancer cases diagnosed and about 9,270 cancer deaths among adolescents and young adults (AYAs) aged between 15 and 39 years in the United States. Embolization is one of the most accepted modalities of cancer treatment in patients with a variety of clinical scenarios. Hence, the rising burden of cancer is giving growth to the embolization procedures in this region.

Not just this but the region is ahead in technology and R&D activities which is expected to positively impact the market. For instance, in March 2021, Instylla Inc. reported the enrollment of the first patients in the pivotal Embrace Hydrogel Embolic System (HES) global randomized clinical trial for the treatment of hypervascular tumors.

Why is Europe Considered a Lucrative Region for the Embolization Coils Market?

Increasing Prevalence of Diabetes is Spurring Demand for Embolization Coils

In Europe, according to the British Heart Foundation every year 5,000 deaths in the UK are caused due to ruptured aortic aneurysms. These are most common in men of 65 years of age and above and they are responsible for 1 in 75 deaths of men in this age group.

Therefore, owing to the rise in the prevalence of the cardiac aneurysm in various European countries, it is likely to increase the growth of the embolization coils in the forecast period.

Category-Wise Insights

Which Type Leads the Market for Embolization Coils?

Detachable Coils To Lead the Type of Embolization Coils

Based on type, the detachable coil segment holds a larger market share. Moreover, the same segment is estimated to grow at a significant CAGR during the forecast period. Detachable coils take less time for the procedure than pushable ones and are characterized as soft or standardized coils used for aneurysms and vessels in various clinical applications.

By Application, Which Segment is Projected to Lead the Market?

Neurology Segment is Estimated to Hold the Largest Share

Based on application, In 2022, the neurology segment holds the largest share of the market. Embolization coils are generally used to treat brain aneurysms and arteriovenous malformations (AVMs) in the field of neurology.

By End-User, Which Segment is Projected to Lead the Market?

Hospital Segment is Estimated to Hold the Largest Share

Based on end user, the global embolization coils market is segmented into hospital, cardiac center, ambulatory center, and other. The hospital segment held the largest share of the market in 2021. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2032.

Market Competition

Key players in the Embolization Coils market are Terumo Corporation Medtronic pl, Boston Scientific Corporation, Stryker Corporation, KANEKA CORPORATION, MicroPort Scientific Corporation, Penumbra, Inc, Cook Medical LLC, Johnson & Johnson Services, Inc. and Shape Memory Medical INC.

• 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 Endovastec™, the Minos™ 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 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

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)