Embolization Coils Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Detachable Coil and Pushable Coil), Material (Platinum, Platinum & Hydrogel, and Platinum Tungsten Alloy), Application (Neurology, Cardiology, Urology, Oncology, Per

Embolization Coils Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Detachable Coil and Pushable Coil), Material (Platinum, Platinum & Hydrogel, and Platinum Tungsten Alloy), Application (Neurology, Cardiology, Urology, Oncology, Peripheral Vascular Disease, and Other), and End User (Hospital, Cardio Center, Ambulatory Center, and Other)

The global embolization coils market is expected to reach US$ 1,591.60 million in 2028 from US$ 1,191.78 million in 2021. It is estimated to grow at a CAGR of 4.3% during 2022–2028.

Rise in the prevalence of cardiac aneurysms, increase in the incidence of cancer cases, rise in patient preference for minimally invasive procedures, and surge in the incidence of hypertension, obesity, smoking, and alcoholism are the factors fueling the global embolization coils market growth. However, factors such as numerous product recalls and high cost of embolization coils are likely to restrain the market's growth during the forecast period.

Embolization coils are used to treat brain and cardiac aneurysms and other blood-related conditions. This is used as an alternative to surgical embolization to cut the blood supply to the tumor. It is used to treat various types of diseases, such as liver cancer, kidney cancer, aortic artery disorders, neuroendocrine tumors, and peripheral vascular diseases.

The cardiac aneurysm is majorly caused due to blockages in the aortic artery. The disease is categorized into two diseases according to the site of blockages. The blockages in the chest are called thoracic aortic aneurysms, and those in the abdomen are called abdominal aortic aneurysms. There is a rise in the prevalence of cardiac aneurysms worldwide. For instance, the Society for Vascular Surgery (SVS) stated that every year in the US, 2 million people are diagnosed with an abdominal aortic aneurysm. It also stated that a ruptured abdominal aortic aneurysm is the country's 15th leading cause of death. It is most commonly seen in people above 55 years of age.

In addition, the abdominal aortic aneurysm is majorly based on family history or inheritance. The immediate relative is more prone to getting an abdominal aortic aneurysm.

According to the British Heart Foundation, every year, ~5,000 deaths in the UK are caused due to ruptured aortic aneurysms. These are most common in men 65 years of age and above and are responsible for 1 in 75 deaths of men in this age group. A similar trend is observed in other regions across the world. Therefore, the rise in the prevalence of cardiac aneurysms is likely to increase the growth of the embolization coils market during the forecast period.

The increasing implementation of embolization coils in the embolotherapy for the treatment of endovascular diseases, traumatic injuries, cerebrovascular malformation, venous malformation, arteriovenous malformation, and pediatric vascular conditions is expected to offer an opportunity for the embolization coils market revenue growth in the coming years. Embolization is a minimally invasive procedure to treat an aneurysm by packing it with material that closes the injured place and decreases the risk of bleeding. Embolization is performed within the artery (endovascular) through a steerable catheter inserted into the bloodstream and guided to the brain. Further, post-traumatic bleeding embolization is performed to stop bleeding caused by traumatic injuries. The method uses materials to block the affected vessel and stops blood flow.

According to a Traumatic Brain Registry Surveillance Report 2021, a traumatic brain injury (TBI) is a disruption in the brain's normal function that can be caused by a bump, blow, or jolt to the head or a penetrating head injury. Further, it has also been stated that TBIs are a major cause of death and disability, making these injuries a significant public health problem across the US. In Tennessee, ~24,382 TBI-related ED visits, hospitalizations, and deaths occurred during 2019.

Type-Based Insights

Based on type, the global embolization coils market is bifurcated into detachable coil and pushable coil. In 2021, the detachable coil segment held a larger market share. Moreover, the same segment is expected to register a higher CAGR from 2022 to 2028.

Material-Based Insights

In terms of material, the global embolization coils market is segmented into platinum, platinum & hydrogel, and platinum tungsten alloy. The platinum segment held the largest share of the market in 2021. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028.

Application-Based Insights

Based on application, the global embolization coils market is segmented into neurology, cardiology, urology, peripheral vascular disease, and other. The neurology segment held the largest share of the market in 2021. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028

End User-Based Insights

Based on end user, the global embolization coils market is segmented into hospital, cardiac center, ambulatory center, and other. The hospital segment held the largest share of the market in 2021. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028

Some major primary and secondary sources referred to while preparing the report on the embolization coils market are the World Health Organization (WHO), the US Census Bureau, and the US National Library of Medicine, among others.

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