Press release
Neuroendovascular Coil Market Poised for 7.4 % Growth, Set to Hit $3.13 Billion by 2029
Neuroendovascular Coil Market Size
The increasing incidence of neurovascular diseases is predicted to boost the neuroendovascular coil market's progression. These diseases, which impact the blood vessels that deliver to the nervous system, frequently result in neurological manifestations and complications. Neuroendovascular coils are utilized to treat such diseases by placement within blood vessels to obstruct or stabilize abnormal vascular structures, therefore minimizing the possibility of hemorrhage or other issues. As an example, a report from the National Board of Health and Welfare (Socialstyrelsen), a Sweden-based governmental body, revealed that around 26,800 strokes were recorded in 2022, affecting roughly 25,100 people. Out of the stroke victims that year, 12 percent passed away the same day, 23 percent within a month, and 34 percent within a year. As a result, the escalating number of neurovascular diseases is fueling the expansion of the neuroendovascular coil market. The neuroendovascular coil market is also expected to be driven by rising healthcare expenditures. This refers to the total financial resources devoted to healthcare amenities, incorporating medical goods and services, public health initiatives, and management. The growth in healthcare expenditure is influenced by elements such as a growing elderly population, innovative medical technology, escalating pharmaceutical costs, and an elevated occurrence of chronic ailments. The surge in healthcare expenditure is promoting advancements in neuroendovascular coil technology, enhancing innovation, accessibility, and patient outcomes for the treatment of brain aneurysms and vascular disorders. For instance, the U.S national healthcare expenditure is anticipated to elevate from $4,799.3 billion in 2023 to $5,048.8 billion in 2024, as per a report by Health Affairs, a U.S academic journal, signifying an increment of approximately $249.5 billion. Therefore, the surge in healthcare expenditure is propelling the neuroendovascular coil market's growth.
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What is the projected compound annual growth rate (CAGR) of the neuroendovascular coil market from 2025 to 2034, and what factors influence it?
There has been a significant expansion in the neuroendovascular coil market in recent years. The market, which was valued at $1.29 billion in 2024, is expected to rise to $1.4 billion in 2025, with a compound annual growth rate (CAGR) of 9.2%. The expansion observed during the historic period can be credited to the rise in the prevalence of neurovascular diseases, an increasing aged population, advancements in diagnostic technologies, the growth of neurointerventional facilities, as well as awareness, education initiatives, and regulatory standard approvals.
The market size for neuroendovascular coils is projected to witness robust growth in the coming years, reaching $1.87 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. This predicted growth during the forecast period is due to the steady increase in neurovascular incidents, the amplification of neurointerventional services, emphasis on early intervention, the development of global healthcare infrastructure, trends towards patient-focused care, and international research collaborations. Key trends for the forecast period will be the improvement in detachable neuroendovascular coils, the increase in the use of liquid embolics, the creation of bioactive and bioabsorbable coils, the incorporation of dual-layer coil technologies, and the emphasis on flow diverters for treating aneurysms.
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How are the latest trends influencing the growth of the neuroendovascular coil market?
Leading businesses in the neuroendovascular coil market are concentrating on creating soft and uniquely shaped coils to secure a competitive advantage. In neuroendovascular procedures, the use of coils with soft and one-of-a-kind shapes, like tetrahedral coils, improves aneurysm treatment by adapting to the vessel structure, lessening complications, and boosting the results for patients, especially in challenging cases. An example of this is the US medical technology firm Stryker Corporation, a manufacturer of neuroendovascular coils, who in December 2022, introduced the Target Tetra Detachable Coil. This product, specifically developed to address small aneurysms, possesses a novel tetrahedral shape, and level of softness, providing a dual functionality feature. It presents a distinctive tetrahedral shape that grants stability for wide-necked aneurysms along with a soft helical tail. This design has a strong memory yet maintains softness, making it an excellent selection for the treatment of small aneurysms.
What are the major segments of the neuroendovascular coil market and their role in driving growth?
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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Which regions are key players in the growth of the neuroendovascular coil market?
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.
Who are the key firms paving the way for growth in the neuroendovascular coil market?
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.
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What Is Covered In The Neuroendovascular Coil Global Market Report?
•Market Size Forecast: Examine the neuroendovascular coil market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the neuroendovascular coil market for a structured understanding.
•Key Players Overview: Analyze major players in the neuroendovascular coil market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the neuroendovascular coil market.
•Segment Contributions: Evaluate how different segments drive overall growth in the neuroendovascular coil market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the neuroendovascular coil market.
•Industry Challenges: Identify potential risks and obstacles affecting the neuroendovascular coil market.
•Competitive Landscape: Review strategic developments in the neuroendovascular coil market, including expansions, agreements, and new product launches.
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