IMARC Group's latest research report, titled "Neuroendovascular Coil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the neuroendovascular coil market growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global neuroendovascular coil market size reached US$ 999.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,260.9 Million by 2032, exhibiting a growth rate (CAGR) of 2.5% during 2024-2032.
Neuroendovascular Coil Market Overview:
A neuroendovascular coil refers to a medical device that is used in the field of interventional neuroradiology to treat certain types of brain aneurysms. It is a tiny, flexible wire coil manufactured of platinum or another biocompatible material that is intended to be implanted into the brain's blood arteries to encourage blood coagulation and stop the aneurysm from rupturing. Endovascular coiling, also known as coil embolization, is the process used to insert the coil. Additionally, its primary function is to fill the aneurysm and help bring about a blood clot there. This clotting procedure reduces the risk of rupture by essentially shutting off the aneurysm from regular blood flow. Natural healing mechanisms within the body will gradually strengthen the clot, stabilizing the aneurysm and averting any consequences. For the less invasive treatment of brain aneurysms, the neuroendovascular coil method provides an option to open surgery.
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Neuroendovascular Coil Market Growth:
The increasing prevalence of cerebral aneurysms among the masses majorly drives the global market. This can be supported by the growing awareness of early detection of cerebral aneurysms and improved access to appropriate treatment options. Along with this, the rising demand for less invasive and effective treatment options compared to traditional surgical methods, such as clipping, is significantly supporting the market. Therefore, the growing popularity of neuroendovascular coiling due to its minimally invasive nature, shorter recovery times, and reduced risk of complications is positively influencing the market. In addition, the escalating number of medical conferences, workshops, and educational programs to provide a platform for knowledge exchange and skill enhancement in the field of neurointerventional surgery is driving the market. Apart from this, favorable reimbursement policies and healthcare reforms lead to improved coverage and reimbursement for these procedures. This is also contributing to the market. Furthermore, the introduction of newer techniques, such as complex coil embolization and stent-assisted coiling, is creating a positive market outlook.
Competitive Landscape with Key Players:
- Medtronic
- Stryker Corporation
- DePuy Synthes
- Penumbra
- Johnson & Johnson Services Inc.
- Terumo Corporation
- Cardinal Health
- Boston Scientific Corporation
- Cook Medical Incorporated
- Balt Extrusion
- EndoShape
Key Market Segmentation:
Breakup by Product Type:
- Guglielmi Detachable Coils (GDCs)
- Matrix Coils
Breakup by Indication:
- Ruptured Aneurysm
- Unruptured Aneurysm
Breakup by Application:
- Tumor Surgery
- Medical Teaching
- Others
Breakup by End User:
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Stroke Centers
- Others
Breakup by Region:
- North America (United States, Canada)
- Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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