The market for embolization coils is expected to grow due to increase in the demand for minimally invasive procedures, rise in the prevalence of the cardiac aneurysm and progressive aging population & rise in associated chronic diseases. In addition, growth opportunities due to the interventional radiology and development in the healthcare market are likely to contribute in the growth of the embolization market in the forecast period.
The major players operating in the embolization coils market include, Terumo Corporation, Medtronic, Boston Scientific Corporation, Stryker, DePuy Synthes, Cook, Endoshape, Inc, Balth USA LLC, Penumbra, Inc, and Three Rivers Medical, Inc., among others. The market is has provided organic growth strategies to these companies by giving several product approvals. For instance, during February, 2018, Three Rivers Medical, Inc. received CE Mark (Conformité Européenne) for its Rio Embolization Coil System and has successfully treated its first ten patients.
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The current trend for the endovascular treatments or the embolization coils are the interventional radiology. The treatment is minimally invasive procedure and is done under the guidance of X-rays. The advantages of the interventional radiology has proven itself to the best treatment option for the control of the extensive blood flow. The interventional radiology is also helpful in the field of gynecology during the cesarean section procedures where the extensive blood is experienced by the patients. The rise in the prevalence for the liver and kidney cancer has contributed extensively to the need of the treatment. The rise in the geriatric population which is highly affected by the endovascular disease, brain stroke, heart stroke and chronic disease are adding up the growth for the market. Therefore, interventional radiology is highly preferred for the geriatric population to treat the diseases as it is minimally invasive procedure.
Detachable embolization coil segment is expected to grow the market for embolization coils over the forecast period for type segment.
The global embolization coils market by type was led by pushable coils segment. In 2017, the pushable coils segment held a largest market share of 51.3% of the embolization coils market, by type. The detachable coils segment is expected to dominate the market in 2025 owing to its advantage of placing it with the single click mechanical detachment handle technology. In addition to larger share, the segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
Asia-Pacific is the fastest growing geographic embolization coils market and it is anticipated to be the third largest revenue contributor throughout the forecast period. Asia is well known across the world for the dynamic market nature and robust growth capabilities. The region has a rising prevalence of the brain stroke, coronary diseases and others. Also, the region is investing more on the development of the healthcare industry.
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Strategic Insights
Approvals and agreements were observed as the most adopted strategy in global embolization coils industry. Few of the recent product launch and collaboration are listed below:
2018: In March, 2018, BALT USA, LLC announced it has received 510(k) clearance for the Optima Coil System and completion of first clinical cases in the United States.
2017: In September, 2017, Medtronic has expanding its embolisation product portfolio with the launch of the Concerto 3D detachable coil system. The system was launched at the Cardiovascular and Interventional Radiological Society of Europe annual meeting
2015: In December 2015, Codman Neuro*, part of DePuy Synthes Companies of Johnson & Johnson, has introduced a new platform of embolic coils for the treatment of brain aneurysms, supported by an enhanced detachment system designed to improve microcatheter stability and provide an optimized detachment zone for coils.
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