Embolization Coil Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Denmark, China, Canada, India - Size and Forecast 2024-2028

Embolization Coil Market Size 2024-2028

The embolization coil market size is forecast to increase by USD 538.3 million at a CAGR of 6% between 2023 and 2028. The market is witnessing significant growth due to the increasing incidence of aneurysms, particularly cerebral aneurysms. According to the World Health Organization, an estimated 30 million people worldwide live with an unruptured aneurysm. The market is also driven by technological advances in embolization coils, which have led to improved patient outcomes and reduced complications. However, the use of embolization coils is not without challenges. Complications associated with their use include coil migration, incomplete occlusion, and thromboembolic events. Despite these challenges, the market is expected to continue its growth trajectory due to the high demand for minimally invasive neurointerventional procedures and the ongoing research and development in the field. The market report forecast market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.

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The embolization coil market is witnessing significant growth due to the increasing prevalence of various blood-related conditions such as brain aneurysms, cardiac aneurysms, ischemic heart disease, and cardiovascular diseases. Embolization coils are used in minimally invasive procedures to treat these conditions by blocking the flow of oxygenated blood in the affected area. The market is also driven by the rising incidence of tumors like liver cancer, kidney cancer, neuroendocrine tumors, and peripheral vascular diseases. Embolization coils are used to treat arteriovenous malformations (AVMs) and other vascular abnormalities in various parts of the body, including the brain, nerves, and head. Symptoms of these conditions include headaches, neck pain, upper back pain, nausea, and vomiting. The World Health Organization estimates that around 15% of all strokes are caused by AVMs. Embolization coils are also used in the treatment of aortic artery disorders and bronchial artery embolization. The arterial wall and veins are the primary targets for embolization coil therapy. The use of embolization coils in surgical embolization procedures offers several advantages, including reduced invasiveness, shorter hospital stays, and faster recovery times compared to traditional surgical methods.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Application Outlook
  • Neurology
  • Oncology
  • Peripheral vascular disease
  • Cardiology
  • Others
• Type Outlook
  • Detachable coil
  • Pushable coil
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Rest of the Middle East & Africa

By Application Insights

The neurology segment is estimated to witness significant growth during the forecast period. Embolization coils are used in the medical field to treat various blood-related conditions, including brain aneurysms and cardiac aneurysms. These conditions can lead to serious health issues such as ischemic heart disease, cardiovascular diseases, rheumatic heart disease, tobacco use, unhealthy diet, and physical inactivity. Brain aneurysms can result in strokes, while cardiac aneurysms can lead to heart attacks. Surgical embolization using detachable and pushable coils is a minimally invasive procedure used to treat conditions such as liver cancer, kidney cancer, neuroendocrine tumors, and peripheral vascular diseases. The World Health Organization recognizes the importance of early detection and treatment of these conditions. 

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The neurology segment accounted for USD 580.10 million in 2018. Aneurysms in the aortic artery, such as abdominal aortic aneurysms and thoracic aortic aneurysms, can also be treated using embolization coils. Cerebrovascular diseases, including brain aneurysms and strokes, are a significant health concern. Neurology segment hospitals, cardiac centers, and ambulatory centers use embolization coils to treat these conditions. Detachable coils are commonly used in neurointerventional procedures, such as bronchial artery embolization and interventional radiology. Neurology is a branch of medicine that deals with the diagnosis and treatment of nervous system disorders such as brain tumors, stroke, peripheral neuropathy, multiple sclerosis, epilepsy, and brain aneurysms. Cancer cases, particularly those with hypervascular tumors, can also benefit from embolization coil therapy. Family history and inheritance are also factors that increase the risk of developing these conditions.

Regional Analysis

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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the market forecast period.

The Embolization Coil Market is witnessing significant growth due to the increasing adoption of advanced embolization techniques for the treatment of various medical conditions. Miniaturised coils, such as tiny hydrocoils and conformable 3D shape coils, are gaining popularity in the market. These coils offer enhanced accuracy and flexibility during the coiling procedure, making them a preferred choice over traditional clipping. The catheter-delivered coils are designed to be inserted through a small incision, allowing for minimally invasive procedures. The hydrocoils, in particular, are known for their ability to expand once deployed, providing effective occlusion of the target vessel. These advancements are expected to drive the growth of the Embolization Coil Market in the coming years.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The increasing incidence of aneurysms is notably driving market growth. Aneurysms are enlargements of weakened arterial walls, commonly affecting the aorta and cerebral blood vessels. Aortic aneurysms, including abdominal and thoracic varieties, and cerebral aneurysms are the most prevalent types, impacting the global population. Brain aneurysms, characterized by bulging or ballooning of blood vessels, predominantly affect individuals aged 35-40, with an annual rupture rate of 9 per 100,000 in the US, disproportionately affecting women (3:2 ratio). Aneurysms can lead to severe complications, such as hemorrhagic strokes (internal bleeding), which can be life-threatening. Other conditions related to blood vessels include cardiac aneurysms, tumors like neuroendocrine and hypervascular, and peripheral vascular diseases. The growing trend toward medical tourism due to low treatment costs, availability of highly skilled surgeons, and the availability of high-quality services also aids in driving the growth of the market in the region during the forecast period.

Further, surgical embolization using detachable or pushable coils is a minimally invasive procedure used to treat various aneurysms and blockages, including those in the brain, liver, kidney, and aortic artery. Interventional radiology plays a crucial role in the treatment of these conditions, with applications in cardiovascular diseases such as ischemic heart disease, cardiac aneurysms, rheumatic heart disease, and tobacco use-related conditions like stroke and heart attacks. Additionally, factors like unhealthy diets, physical inactivity, family history, and inheritance contribute to the prevalence of these conditions. The neurology segment, including hospitals, cardiac centers, and ambulatory centers, is a significant market for embolization coils. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

The technological advances in embolization coil is the key trend in the market. The market is witnessing significant growth due to the increasing prevalence of blood-related conditions such as brain aneurysms, cardiac aneurysms, and tumors including liver cancer, kidney cancer, neuroendocrine tumors, and peripheral vascular diseases. Surgical embolization using embolization coils has become a popular choice for minimally invasive procedures in treating various conditions. The World Health Organization reports that ischemic heart disease and cardiovascular diseases, including heart attacks and strokes, are the leading causes of death and disability worldwide. Risk factors such as tobacco use, unhealthy diet, physical inactivity, family history, and inheritance contribute to these conditions. Advancements in embolization coil technology have led to the development of innovative products like 3D embolization coils, miniaturized coils, hydrocoils, and embolization coils with integrated deployment mechanisms. Hydrocoils are detachable coils with a platinum core, which provide mechanical occlusion with less reliance on thrombus formation and improved volume filling and occlusion efficacy.

For instance, 3D embolization coils, which are in a conformable 3D shape, offer improved precise multi-planar deployment and accelerate thrombus formation. They also provide flexible access to both smaller and larger blood vessels, making them suitable for treating difficult wide-necked aneurysms or high-flow territories. Detachable coils, such as Target 3D detachable coils by Stryker Corp., are commonly used in neurovascular interventions, including cerebrovascular disease and rheumatic heart disease. Additionally, embolization coils are used in the treatment of aortic artery disorders, including abdominal aortic aneurysms and thoracic aortic aneurysms, and in bronchial artery embolization for various indications. Hydrocoils are detachable coils with a platinum core, which provide mechanical occlusion with less reliance on thrombus formation and improved volume filling and occlusion efficacy. Overall, the growing number of cancer cases and hypervascular tumors, along with the increasing prevalence of diabetes, is expected to boost the demand for embolization coils in the healthcare industry. Hospitals, cardiac centers, and ambulatory centers are the major end-users of embolization coils, with neurology being the largest segment. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

The complications associated with the use of embolization coils are the major challenge that affects the growth of the market. Embolization coils are used in minimally invasive procedures to treat various blood-related conditions, including brain aneurysms, cardiac aneurysms, and tumors such as liver cancer, kidney cancer, neuroendocrine tumors, and peripheral vascular diseases. Surgical embolization, a common interventional radiology technique, utilizes detachable and pushable coils to block blood flow in the affected area. Brain aneurysms, including ischemic heart disease, cardiovascular diseases, rheumatic heart disease, and tobacco use, diabetes, and family history, can lead to complications like aneurysmal perforation and rupture, parent artery occlusion, cerebral embolism, coil migration, neurological deficits such as stroke and death, and puncture site hematoma.

Additionally, thromboembolic episodes, pain, vasospasm, infection, vascular thrombosis, clot formation, hemorrhage, and ischemia are other risks associated with embolization coils. Complications may also arise due to malfunctioning of the embolization coil due to mechanical failures, console defects, cross-contamination, and catheter-based infection transmission caused due to reusing, reprocessing, or resterilizing of catheters. The use of these coils in hospitals, cardiac centers, and ambulatory centers for conditions like aortic aneurysms (abdominal and thoracic), bronchial artery embolization, and hypervascular tumors, requires careful consideration of potential complications. Hence, the above factors will impede the growth of the market during the forecast period.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

BALT Group - The company offers coil embolization through its Optima coil system products such as complex 18, complex 10 standards, complex 10 soft, etc. 

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• Achieva Medical
• BALT Group
• Boston Scientific Corp.
• Braile Biomedica
• Cordis Corp.
• Cook Group Inc.
• Grand Pharmaceutical Group Ltd
• Johnson and Johnson Services Inc.
• Kaneka Corp.
• Lepu Medical Technology Beijing Co. Ltd.
• Medtronic PLC
• Merit Medical Systems Inc.
• MicroPort Scientific Corp.
• Penumbra Inc.
• phenox GmbH
• Shape Memory Medical Inc.
• Sirtex Medical Pty Ltd.
• Stryker Corp.
• Terumo Medical Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

The market is witnessing significant growth due to the increasing prevalence of various blood-related conditions such as brain aneurysms, cardiac aneurysms, ischemic heart disease, cerebrovascular disease, and rheumatic heart disease. These conditions are often treated through surgical embolization using embolization coils. The market is also driven by the rising incidence of tumors like liver cancer, kidney cancer, neuroendocrine tumors, and peripheral vascular diseases. Tobacco use, unhealthy diet, and physical inactivity are some of the leading risk factors contributing to the growing number of cases. The market includes two main types of embolization coils: detachable coils and pushable ones. Detachable coils are commonly used in neurointerventional procedures for treating brain aneurysms, while pushable coils are used for bronchial artery embolization and other peripheral vascular interventions. The neurology segment holds a major share of the market due to the high prevalence of cerebrovascular diseases. Hospitals, cardiac centers, and ambulatory centers are the major end-users of embolization coils. The increasing number of heart attacks and strokes caused by aortic artery disorders, family history, and inheritance are driving the demand for embolization coils in these healthcare facilities. The World Health Organization estimates that cardiovascular diseases account for approximately 17.9 million deaths each year, making it a significant contributor to the growth of the embolization coil market.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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