Growth Opportunities and Trends in the Neuroendovascular Coil Market: Key Insights for 2025-2034
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How has the Neuroendovascular Coil market grown over the years?
The expansion of the neuroendovascular coil market has been robust in the past few years, with a projection to transition from $1.29 billion in 2024 to $1.4 billion in 2025, manifesting a compound annual growth rate (CAGR) of 9.2%. The historical surge witnessed in the market is attributable to factors such as the rising prevalence of neurovascular disorders, aging population, advancements in diagnostic methodologies, augmentation of neurointerventional infrastructures, initiatives in spreading knowledge and awareness, as well as regulatory permits and norms.
What Is the forecasted market size and growth rate for the neuroendovascular coil market?
The market size of neuroendovascular coil is predicted to observe substantial growth in the forthcoming years. By 2029, the market is set to reach $1.87 billion, with a compound annual growth rate (CAGR) of 7.4%. The growth within the forecast period is due to a consistent increase in neurovascular cases, broadening of neurointerventional services and emphasis on early intervention. Other contributing factors include the growth of global healthcare infrastructure, trends towards patient-centered care, and international research partnerships. Key trends during the forecast period are expected to include advancements in detachable neuroendovascular coils, increasing use of liquid embolics, development of bioactive and biodegradable coils, introduction of dual-layer coil technologies, as well as growing focus on flow diverters for the treatment of aneurysms.
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What are the major factors driving growth in the neuroendovascular coil market?
The increase in neurovascular diseases is set to boost the growth of the neuroendovascular coil market in the near future. These diseases affect the blood vessels that provide the nervous system with essential nutrients and oxygen, often leading to neurological symptoms and complications. Neuroendovascular coils are useful in treating these diseases as they can be placed into blood vessels to close off or steady abnormal blood vessel structures, in turn reducing potential bleeding or other risks. For example, the National Board of Health and Welfare (Socialstyrelsen), based in Sweden, confirmed that as of November 2023, 26,800 strokes were registered in 2022, affecting approximately 25,100 individuals. Of these, 12 percent succumbed to the stroke on the day of the event, 23 percent within the first 28 days, and 34 percent within the year. Therefore, the increase in neurovascular diseases is a key component driving the growth of the neuroendovascular coil market. The surge in healthcare expenditure is also anticipated to further stimulate the growth of the neuroendovascular coil market. Healthcare expenditure is the term used for the funds allocated towards healthcare services, including public health activities, administration, and medical goods and services. The rise in healthcare expenditure can be attributed to various factors such as the aging population, the continuing advancement in medical technology, the rocketing costs of pharmaceuticals, and a growing prevalence of chronic illnesses. This rising healthcare expenditure is enabling advancements in the technology of neuroendovascular coils, fostering greater innovation, improving accessibility, and enhancing patient outcomes for those with cerebral aneurysms and vascular disorders. Health Affairs, a US journal, pointed out in June 2024 that the national healthcare expenditure in the U.S. is projected rise from $4,799.3 billion in 2023 to $5,048.8 billion in 2024, representing a growth of approximately $249.5 billion. Hence, the increasing healthcare expenditures are further fuelling the growth of the neuroendovascular coil market.
What key areas define the segmentation of the global neuroendovascular coil Market?
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
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What are the top market players propelling the growth of the neuroendovascular coil industry?
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.
What are the key trends shaping the future of the neuroendovascular coil market?
Leading corporations in the neuroendovascular coil market are pushing innovation by developing soft and uniquely-shaped coils to gain a market advantage. The use of distinctive shapes like tetrahedral coils in neuroendovascular processes can enhance aneurysm treatment due to their compliance with vessel anatomy, leading to fewer complications and improved patient outcomes, particularly in intricate cases. For instance, Stryker Corporation, a U.S.-based company specializing in medical technology and a manufacturer of neuroendovascular coils, introduced the Target Tetra Detachable Coil in December 2022. Designed specifically for small aneurysm treatment, this coil uniquely combines a tetrahedral shape and softness level. It features a 2-in-1 design: a distinctive tetrahedral shape providing stability for broad-neck aneurysms and a gently coiling tail. The coil offers remarkable memory but still maintains its softness, making it an excellent option for treating small aneurysms.
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What regions are dominating the neuroendovascular coil market growth?
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.
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