Embolization Coils Market size is poised to reach USD 3 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of embolization coils was USD 2 Billion. The reason behind the growth is impelled by the growing cases of cancer across the globe. As a result, the demand for embolization coils is expected to increase since these coils are used to treat cancerous tumors such as liver tumors and it is also used in those cases of cancer where surgical procedure cannot be considered.
In addition, tumor embolization is a minimally invasive treatment that cuts off the blood supply to a tumor by injecting chemicals directly into a liver artery, hence minimizing blood loss during surgical removal. In 2040, more than 28 million new instances of cancer are anticipated worldwide.
The growing usage in hematuria management are believed to fuel the embolization coils market. Embolization is considered a secure and reliable process for treating life-threatening hematuria, a disorder that causes persistent, blood in the urine. Moreover, these coils aid in minimizing bleeding.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 2 Billion |
|
Forecast Year Market Size (2035) |
~ USD 3 Billion |
|
Regional Scope |
|
Type (Detachable Coil, Pushable Coil)
The detachable coil segment in the embolization coils market is estimated to gain a robust revenue share of 60% in the coming years owing to the growing usage in various clinical applications. Detachable coils function by promoting flow stasis and triggering thrombosis and were created to completely embolise aneurysms. They are injected through a catheter that is implanted into a groin artery into the aneurysm lumen to provide a secure and reliable substitute for surgically cutting cerebral aneurysms. Besides this, the coil has proven to be safer and easier to deploy and also offers additional advantages such as dependability in attaining vascular blockage.
Application (Urology, Oncology, Peripheral Vascular Disease, Neurology, Cardiology)
Embolization coils market from the neurology segment is set to garner a notable share shortly on the account of growing cases of arteriovenous malformations (AVMs). For cerebral arteriovenous malformations (AVMs), endovascular embolization is regarded as a curable treatment as it aims to remove the AVM nidus, and aid in obstructing blood flow and preventing hemorrhage, by using imaging guidance to insert a tiny, soft metal coil or quick-drying glue inside the AVM. Furthermore, embolization is developing as a safe and effective method for treating deep or inoperable AVMs since they are less invasive than surgery and can be used to lessen the size and symptoms of an AVM.
Our in-depth analysis of the global embolization coils market includes the following segments:
|
Application |
|
|
Material |
|
|
Type |
|
|
End-User |
|
North American Market Forecast
Embolization coils market in North America is predicted to account for the largest share of 41% by 2035 impelled by the growing spending in healthcare. As a result, more advanced smart diagnostic and monitoring medical device such as embolization coils are being developed in the region. This has increased the adoption rates of these coils as they have become more accessible to people and are easily available in hospitals and clinics. In 2021, the United States spent over 2% more on health care.
European Market Statistics
The Europe embolization coils market is estimated to be the second largest, during the forecast timeframe led by increasing cases of cardiac aneurysm. This is expected to increase the demand for an embolization coils in the region as it is used to treat aneurysms, which involves filling the sac with material to prevent bleeding and closing it off. Each year, more than 14,000 Americans and over 25,000 Europeans are diagnosed with ascending thoracic aortic aneurysm (ATAA).
•Boston Scientific Corporation introduced its Embold Soft and Packing coils integrated a distribution system that makes it simple for users to remove the coil. Further, the coils are made of nitinol to avoid kinking and can be used in embolization operations.
•Stryker Corporation received approval from U.S. Food and Drug Administration (FDA) approval for the Neuroform Atlas Stent System to be utilized in the posterior (back of the brain) circulation, which makes the long-treatment more conceivable.
Author Credits: Radhika Gupta, Shivam Bhutani
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?