Description:
Aneurysm Coiling Market: Introduction
• Aneurysm coiling is a minimally invasive endovascular treatment performed to treat aneurysm (a weakened area in the wall of an artery)
• It is essential to treat an aneurysm, a bulge caused by weakness in the wall of a blood vessel, which could rupture because of rise in pressure and bleed into the brain
• Symptoms of a ruptured aneurysm generally include sudden onset of a severe headache, nausea, vomiting, blurred vision or diplopia, and seizure. In aneurysm coiling, a surgeon tightly packs the aneurysm with detachable platinum coils that promote blood coagulation and reduce pressure on the outer wall.
• Aneurysm coiling has become popular across the world because it incurs less cost and lowers the danger for patients. IMARC Group expects the global aneurysm coil market to exhibit moderate growth during the next five years.
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Key Drivers, Restraints, and Opportunities in Global Aneurysm Coiling Market
• Increase in number of patients affected by cerebrovascular disorder and rise in adoption of minimally invasive aneurysm procedures are projected to drive the global aneurysm coiling market in the next few years
• Surge in number of patients affected by high blood pressure and trauma to blood vessels is another factor propelling the global aneurysm coiling market
• Hypertension significantly increases the danger of brain aneurysm and other diseases. Presently, a large percentage of the population is in danger of developing brain aneurysms as a result of high blood pressure and smoking. According to the World Health Organization (2019), around 1.13 billion people across the world have hypertension.
• Minimally invasive surgeries are gaining popularity because of the reduced risk and trauma related to these procedures. Smaller incisions decrease postoperative pain and facilitate speedy recovery, resulting in high adoption of these procedures and triggering the growth of R&D in this field. Hence, key players continuously invest in research & development for the launch of innovative minimally invasive endovascular coiling instruments.
• Countries such as the U.S. and Canada have witnessed high prevalence of intracranial aneurysms in the past few years. A report published by Neuro Intervention India in 2017 stated that nearly 6.0 million people in the U.S. develop an un-ruptured aneurysm. Moreover, rupture of intracranial aneurysms accounts for around 30,000 deaths in the U.S. each year.
• Increase in incidence of intracranial aneurysms in some of the developed and developing countries has driven the launch of technologically advanced products in the market. Endovascular coiling, surgical clipping, and flow diverters are some of the notable treatment modalities used for treating intracranial aneurysms.
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North America Dominated Global Aneurysm Coiling Market
• North America dominated the global aneurysm coiling market, accounting for the largest share in 2020 because of well-established health care facilities, increase in the geriatric population, and high incidence of hypertension and stroke. Moreover, rise in prevalence of intracranial aneurysms and increase in demand for minimally invasive procedures contribute to the growth of the market in the region.
• Asia Pacific is projected to expand at a high CAGR from 2021 to 2031. This is attributed to increase in the geriatric population, lifestyle stress, surge in incidence of hypertension, large population, improvement in the quality of diagnosis, and rise in patient affordability. Moreover, lucrative opportunities in developing countries such as Japan, India, and China is likely to boost the growth of the market in Asia Pacific.
Key Companies in Global Aneurysm Coiling Market
Companies in the market focus on the introduction of innovative medical devices, growth strategies, and technological advancements. For instance, in 2019, Medtronic received the U.S. FDA approval for a Pipeline Flex Embolization Device used for the treatment of giant or wide-necked intracranial aneurysms (IAs). These advancements are anticipated to boost the growth of the global aneurysm coiling market during the forecast period. Key players in the global market are:
• Medtronic
• Cardinal Health
• Microport Scientific Corporation
• Cook Medical Incorporated
• B. Braun
• Stryker
• Boston Scientific Corporation
• Johnson and Johnson Services, Inc.
• MicroVention, Inc. (Terumo Corporation)
• Codman Neuro (Integra Lifesciences)
Global Aneurysm Coiling Market, Research Scope
Global Aneurysm Coiling Market, by Type
• Surgical Clipping
• Endovascular Coiling
• Flow Diverters
• Others
Global Aneurysm Coiling Market, by End-user
• Hospitals
• Clinics
• Others
Global Aneurysm Coiling Market, by Region
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o U.K.
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia & New Zealand
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East & Africa
o GCC Countries
o South Africa
o Rest of Middle East & Africa
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