Neuroendovascular Coil Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players

The neuroendovascular coil market size has grown strongly in recent years. It will grow from $1.18 billion in 2023 to $1.29 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to increasing incidence of neurovascular diseases, growing aging population, improved diagnostic technologies, expansion of neurointerventional facilities, awareness and education initiatives, regulatory approvals and standards..

The neuroendovascular coil market size is expected to see strong growth in the next few years. It will grow to $1.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to continuous rise in neurovascular cases, expansion of neurointerventional services, focus on early intervention, global healthcare infrastructure growth, patient-centric care trends, international collaborations in research.. Major trends in the forecast period include advancements in detachable neuroendovascular coils, rise in utilization of liquid embolics, development of bioactive and bioabsorbable coils, integration of dual-layer coil technologies, focus on flow diverters for aneurysm treatment..

Market Overview -
A neuroendovascular coil is a thin wire inserted into blood vessels to block off or divert blood flow from the affected area, promoting clotting and preventing further complications. It is a medical device for treating cerebral aneurysms and other vascular abnormalities.

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Rising Prevalence Of Neurovascular Diseases Fuels Expansion Of The Neuroendovascular Coil Market
The growing prevalence of neurovascular diseases is expected to propel the growth of the neuroendovascular coil market going forward. Neurovascular diseases affect the blood vessels supplying the nervous system, often leading to neurological symptoms and complications. Neuroendovascular coils are used in treating neurovascular diseases by being inserted into blood vessels to block off or stabilize abnormal blood vessel structures, reducing the risk of bleeding or other complications. For instance, in March 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, stroke deaths increased from 38.8 per 100,000 in 2020 to 41.1 per 100,000 in 2021. Further, each year, there are more than 795,000 strokes in the United States, among which 610,000 are first-time strokes. Therefore, the growing prevalence of neurovascular diseases is driving the growth of the neuroendovascular coil market.

Competitive Landscape -
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.

Increasing Focus On The Development Of Soft And Unique-Shaped Coils To Gain A Competitive Edge
Major companies operating in the neuroendovascular coil market are focused on developing soft and unique-shaped coils to gain a competitive edge in the market. In neuroendovascular procedures, soft and unique shapes, such as tetrahedral coils, enhance aneurysm treatment by conforming to vessel anatomy, reducing complications, and improving patient outcomes, especially in complex cases. For instance, in December 2022, Stryker Corporation, a US-based medical technology company that manufactures neuroendovascular coils, launched the Target Tetra Detachable Coil, which combines a new tetrahedral shape and softness level and is specifically designed to treat small aneurysms. It provides a 2-in-1 feature with a unique tetrahedral shape that allows stability in wide-necked aneurysms and a soft helical tail. This shape offers strong memory and is soft at the same time, making it a good choice for treating small aneurysms.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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