The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Embolization Coils Global Market Report 2023, the embolization coils market is expected to show promising growth in the forecast period.

• Market Expansion: The embolization coils market has shown steady growth, increasing from $1.37 billion in 2023 to $1.44 billion in 2024.
• CAGR: This represents a compound annual growth rate (CAGR) of 4.6%, driven by factors such as the increasing prevalence of neurovascular disorders and a rising geriatric population.

Historic Growth Drivers:

• • Growing demand for minimally invasive procedures.
  • Improved healthcare infrastructure.
  • Increased healthcare expenditure.

Future Market Outlook: Continued Growth

• Projected Growth: The market is expected to reach $1.73 billion by 2028.
• CAGR: This reflects a CAGR of 4.7% over the forecast period.

Key Drivers:

• • Expanding applications in emerging markets.
  • Development of innovative embolization techniques.
  • Rising awareness about neurovascular disorders.
  • Increasing prevalence of chronic diseases.
  • Growing investments in research and development.

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Emerging Trends in the Market

• Personalized Treatment Approaches: Emphasis on patient-specific treatments.
• Integration of AI: Artificial intelligence is being integrated into treatment planning.
• Next-Generation Embolic Materials: Advancements in embolic materials for improved outcomes.
• Shift to Outpatient Procedures: Increased focus on outpatient and ambulatory procedures.
• Patient-Centric Care: Enhanced focus on the overall patient experience.

Rising Prevalence of Chronic Illnesses Driving Market Growth

• Chronic Illness Impact: The increasing prevalence of chronic illnesses is a significant driver for the embolization coils market.
• Factors: Aging populations, lifestyle factors like poor diet and lack of physical activity, and longer life expectancies contribute to this rise.
• Application in Treatment: Embolization coils are used to treat conditions like coronary artery aneurysms and fistulas by occluding abnormal connections and preventing complications.
• Key Statistics: According to a report by the American College of Cardiology, major cardiovascular risk factors like diabetes, hypertension, and obesity are projected to rise significantly by 2060.

Key Players in the Embolization Coils Market

• Major Companies: The market is dominated by companies such as Johnson & Johnson Services Inc., Abbott Laboratories Inc., Medtronic Plc, and Stryker Corporation.
• Innovation Focus: These companies are continuously developing innovative products to better serve the market.

Development of Innovative Products

• Fibered Detachable Coils: Companies are developing products like fibered detachable coils for advanced embolization procedures.
• Recent FDA Approval: In April 2022, Boston Scientific Corporation received FDA approval for the EMBOLD fibered detachable coil, designed to block or decrease blood flow in peripheral blood vessels. This innovative product is used in various embolization procedures to treat conditions like hemorrhaging, aneurysms, and venous abnormalities.

Strategic Acquisitions to Strengthen Market Position

• Cooper Companies’ Acquisition: In November 2023, The Cooper Companies Inc. acquired select assets from Cook Medical for $300 million.
• Impact: This acquisition strengthens CooperSurgical’s medical device portfolio and enhances its position in the embolization coils market.

Market Segmentation and Regional Insights

• Type: The market is segmented into detachable coils and pushable coils.
• Material: Key materials include platinum, platinum and hydrogel, and platinum tungsten alloy.
• Application: Applications span neurology, urology, peripheral vascular disease, oncology, and cardiology.
• End-User: Major end-users include hospitals, ambulatory centers, and cardio centers.
• Regional Insights: North America was the largest region in the embolization coils market in 2023, while Asia-Pacific is expected to be the fastest-growing region during the forecast period.

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