Future Outlook of the Neuroendovascular Coil Market: Growth, Trends, and Emerging Opportunities Explored
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What is the Expected Growth Rate of the Neuroendovascular Coil Market Based on Industry Projections?
The market for neuroendovascular coils has seen robust growth in the past few years. The market will expand from a size of $1.29 billion in 2024 to $1.4 billion in 2025, with a compound annual growth rate (CAGR) of 9.2%. The previous growth can be ascribed to the rising prevalence of neurovascular conditions, an aging population, advancements in diagnostic technology, enlargement of neurointerventional facilities, initiatives to raise awareness and education, as well as regulatory accreditations and standards.
The market for neuroendovascular coils is predicted to experience substantial growth in the forthcoming years. It is projected to increase to $1.87 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. This growth within the predicted period can be tied to the ongoing increase in neurovascular cases, the broadening of neurointerventional services, emphasis on early intervention, the development of global healthcare infrastructure, trends towards patient-focused care, and international collaborative research efforts. The expected trends during this period involve advancements in detachable neuroendovascular coils, increased use of liquid embolics, the invention of bioactive and bioabsorbable coils, the integration of dual-layer coil technologies, and a spotlight on flow diverters for aneurysm treatment.
What Strategic Factors Are Influencing the Accelerated Growth of the Neuroendovascular Coil Market?
The advancing occurrences of neurovascular diseases are anticipated to spur the neuroendovascular coil market’s expansion. Neurovascular diseases impair the blood vessels that nourish the nervous system, often triggering neurological symptoms and complications. Neuroendovascular coils are employed in remedying these diseases by being placed into blood vessels to obstruct or stabilize abnormal blood vessel structures, thereby diminishing the likelihood of bleeding or other complications. For instance, a report by the National Board of Health and Welfare (Socialstyrelsen), a government agency based in Sweden, stated that in November 2023, about 26,800 strokes were documented in 2022, affecting roughly 25,100 individuals. Among the stroke patients that year, 12 percent passed away on the same day, 23 percent within 28 days, and 34 percent within one year. Thus, the escalating incidence of neurovascular diseases is catalyzing the expansion of the neuroendovascular coil market.
Neuroendovascular Coil Market Driver: Increase in Healthcare Expenditures Boosts Neuroendovascular Coil Market Expansion
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What Companies Are At the Forefront of Innovation in the Neuroendovascular Coil Market?
Major companies operating in the neuroendovascular coil market report are Cardinal Health Inc., Johnson & Johnson Services Inc., Medtronic PLC, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Terumo Corporation, Kaneka Neurovascular USA, W.L. Gore & Associates Inc., Cook Group Incorporated, Merit Medical Systems Inc., MicroPort Scientific Corporation, Penumbra Inc., MicroVention Inc., Medikit Co. Ltd., Minnetronix Medical Inc., SurModics Inc., Galen Medical Group P.C, Balt USA LLC, Acandis GmbH, Rapid Medical Ltd., Allium Medical Solutions Ltd., Shape Memory Medical Inc., InnoCore Pharmaceuticals BV, Wuhan HNC Technology Co. Ltd., Neural Co. Ltd., Three Rivers Medical Inc.
How Are Emerging Trends in Consumer Behavior Affecting the Neuroendovascular Coil Market?
Leading firms functioning in the neuroendovascular coil sector are concentrating on the creation of unique-shaped and soft coils to get an advantage over their rivals. In neuroendovascular procedures, these soft coils with distinctive shapes like tetrahedral coils, elevate the efficacy of aneurysm treatment by aligning with the vessel structure, minimizing complications, and improving patient results, notably in intricate cases. For example, in December 2022, Stryker Corporation, a medical technology firm based in the US producing neuroendovascular coils, introduced the Target Tetra Detachable Coil. This coil merges softness with a fresh tetrahedral shape and is crafted specifically to treat small aneurysms. This offers a dual function – a tetrahedral shape for stability in broad-necked aneurysms and a soft helical tail. The shape is both sturdy and soft, making it a suitable option for the treatment of small aneurysms.
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What Are the Key Components of the Neuroendovascular Coil Market, and How Do Its Segments Perform?
The neuroendovascular coil market covered in this report is segmented –
1) By Product Type: Guglielmi Detachable Coils (GDCs), Matrix Coils
2) By Indication: Ruptured Aneurysm, Unruptured Aneurysm
3) By Application: Tumor Surgery, Medical Teaching
4) By End User: Hospitals, Ambulatory Surgical Centers (ASCs), Stroke Centers, Other End Users
Subsegments:
1) By Guglielmi Detachable Coils (GDCs): Soft GDCs, Standard GDCs, Detachable GDCs With Various Configurations
2) By Matrix Coils: Soft Matrix Coils, Coated Matrix Coils, Detachable Matrix Coils, Flow Diverter Matrix Coils
What Regions Are Propelling Growth in the Neuroendovascular Coil Industry?
North America was the largest region in the neuroendovascular coil market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neuroendovascular coil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Neuroendovascular Coil Market Categorized and Defined in the Industry?
A neuroendovascular coil is a thin wire inserted into blood vessels to block off or divert blood flow from the affected area, promoting clotting and preventing further complications. It is a medical device for treating cerebral aneurysms and other vascular abnormalities.
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