NEUROENDOVASCULAR COIL MARKET ANALYSIS

Neuroendovascular Coil MarketSize and Trends

Global neuroendovascular coil market is estimated to be valued at US$ 962.7 Mn in 2023 and is expected to exhibit a CAGR of 5.2%  during the forecast period (2023-2030).

The increasing prevalence of neurovascular conditions such as stroke, cerebral aneurysms, and other factors are expected to drive the growth of the global neuroendovascular coil market over the forecast period. For instance, in 2020, according to data published by the American Heart Association, intracerebral hemorrhage (ICH) stroke is the most common type of stroke, accounting for 10%-15% of the estimated 795,000 strokes each year in the U.S. Whereas, around 18.9 Mn people around the world had an intracerebral hemorrhage in 2020.

Global Neuroendovascular Coil Market - Drivers

• Increasing technological advancements: Market growth is expected to get driven by technological advancements. Detachable coils, imaging tools, delivery catheters, and other devices like stents have all undergone considerable technological advancements in recent years. This has improved the cerebral aneurysm treatment efficacy. These developments have stimulated manufacturers to create a wide variety of neuroendovascular coils with various diameters, multiple dimensions, biological inertness, complicated forms, and scratch resistance to inhibit recanalization. In consideration of this, technological advancements are anticipated to have an impact on the growth of the global neuroendovascular coil market over the anticipated period.
• Increasing adoption of growth strategies: Market players are focusing on inorganic growth strategies such as agreements to expand the sales of their products, and this is expected to boost the growth of the global neuroendovascular coil market over the forecast period. For instance, in July 2021, Kaneka Corporation, a Japan-based worldwide chemical manufacturing company, announced a sales agreement with Asahi Intecc USA, Inc., a medical technology manufacturer, to further increase the sales of its novel brain aneurysm embolization coil (product name: i-ED COIL) in the U.S. market.

Figure 2. Global Neuroendovascular Coil Market Share (%), By Region, 2023

Market- Trends

Global Neuroendovascular Coil Market Segmentation:

Global neuroendovascular coil market is segmented into product type, application, end user, and region.

• By product type, the market is segmented into bare metal coil and hydrogel coated coils. Out of which, the bare metal coil segment is expected to hold a dominant position in the global neuroendovascular coil market during the forecast period, due to the increasing usage of the coil.
• By application, the market is segmented into aneurysm-embolization, malformation-embolization, ischemic stroke-revascularization, and stenosis-revascularization. Out of which, the aneurysm-embolization segment is expected to hold a dominant position in the global neuroendovascular coil market during the forecast period, due to technological advancement of the devices.
• By end user, the market is segmented into hospitals, forensic laboratories, stroke center, and ambulatory surgical centers. Out of which, the hospitals segment is expected to hold a dominant position in the global neuroendovascular coils market over the forecast period, due to the rising number of patient admissions.
• Among all the segmentation, the application segment is expected to have high potential in the global neuroendovascular coil market over the forecast period and this is attributed to the increasing incidences of  ischemic strokes. For instance, according to the Centers for Disease Control and Prevention statistics, about 87% of all strokes are ischemic strokes, in which blood flow to the brain is blocked.