Neuroendovascular coiling is performed to prevent the blood flow in an aneurysm. An aneurysm is the excessive enlargement of blood vessels that lead to a weakness of the blood vessel wall. The endovascular coiling helps by sealing the aneurysm, promoting blood clotting around the coils, and reducing pressure on its outer wall. The endovascular coiling treatment is usually performed under general anesthesia by a neurosurgeon or an interventional neuroradiologist using fluoroscopic imaging guidance. The coil is left behind and placed permanently in the aneurysm. Coiling is performed for both the ruptured aneurysms and unruptured aneurysms. Neuroendovascular coils are used as an alternative effective treatment to surgical clipping in an aneurysm. This neuroendovascular coiling helps in the prevention of subarachnoid hemorrhage, which leads to stroke, severe complications, and even death.
The global neuroendovascular coils market is estimated to be US$ 961.7 Million in 2021 and is expected to reach US$ 1262.6 million by 2028, at a CAGR of 4.0% during the forecast period (2021 –2028).
Figure 1. Neuroendovascular Coils Market Value (US$ Mn) & Y-o-Y Growth (%) 2017-2028
The increasing number of associated risk factors to ca use brain aneurysm is expected to drive the market growth over the forecast period
Increasing number of associated risk factors to cause brain aneurysm is expected to drive the prevalence of the disease, which will eventually boost the growth of neuroendovascular coils market during the forecast period. Researchers say smoking may cause the brain's blood vessels to develop multiple aneurysms or weak spots. These weak spots can rupture and cause bleeding that can lead to stroke, disability, and death. For instance, according to the data published by Centers for Disease Control and Prevention (CDC) in 2018, an estimated 14 out of 100 people in the U.S. smoke cigarettes, a prominent factor, which is raising the prevalence of brain aneurysm among the population.
|Base Year:||2020||Market Size in 2021:||US$ 961.7 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||4.0%||2028 Value Projection:||US$ 1262.6 Mn|
Stryker, Codman (DePuy), MicroVention, Medtronic Plc., Penumbra Inc., Cardinal Health, Johnson & Johnson, Boston Scientific, Cook Medical Inc., Terumo Corporation, Braile Biomedica, Kaneka Corporation, and Balt USA LLC
|Restraints & Challenges:||
Figure 2. Global Neuroendovascular Coils Market Share (%), by Product Type, 2021
Neuroendovascular Coils Market – Regional Analysis:
North America was observed as the largest market, in terms of revenue for neuroendovascular coil. North America was followed by Europe and is expected to register higher growth. Emerging markets such as Asia Pacific, Latin America, and the Middle East and Africa are expected to record robust growth during the forecast period 2021-2028 due to growing health care industry and aging population which consequently would lead to increased patient population in these countries. For instance, in 2016, Terumo Corporation acquired Sequent Medical, Inc., a privately-held firm developing a new medical device for aneurysm embolization.
Global Neuroendovascular Coils Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it as a public health emergency in 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported in the U.S. as of June 22, 2021 are approximately 178,503,429 with around 3,872,457 deaths. The coronavirus or COVID-19 outbreak started from Wuhan, China and has spread across continents, affecting various industries globally. Since the past few months, the number of patient visits to hospitals has reduced significantly despite the emergency. There is considerable variation in the management of neurointerventional procedures during the COVID-19 pandemic. Patients are avoiding healthcare institutions to prevent contact with COVID-19 patients and healthcare professionals. Falling rates have been observed across a range of acute and critical conditions, including stroke, myocardial infarction, and various cancers. The market is expected to be negatively impacted due to the temporary postponement of various elective surgeries, as governments and authorities seek to ensure the availability of resources for COVID-19 patients. Closed manufacturing facilities due to lockdowns have also disrupted supply chains, and reduced recruitments for clinical trials have further impacted the growth of the overall neuroendovascular coils market.
Global Neuroendovascular Coils Market: Restraint
The major factors that hinder growth of the global neuroendovascular coils market include risk of complication in neurovascular procedures. For instance, in September 2018, the U.S. FDA recalled the Intracranial Neurovascular Stent under Class 2 Device Recall developed by Stryker Neurovascular due to use-related coating damage on delivery catheter shafts of Wingspan delivery catheters.
Major players operating in the global neuroendovascular coils market include Stryker, Codman (DePuy), MicroVention, Medtronic Plc., Penumbra Inc., Cardinal Health, Johnson & Johnson, Boston Scientific, Cook Medical Inc., Terumo Corporation, Braile Biomedica, Kaneka Corporation, and Balt USA LLC.
Neuroendovascular coiling is a procedure performed to block blood flow into an aneurysm (a weakened area in the wall of an artery). Endovascular coiling is a more recent treatment for brain aneurysms; it has been used in patients since 1991. A neuroendovascular coil is used to treat an unruptured and ruptured brain aneurysm (a weakened area in the artery wall). A number of factors can contribute for developing an aneurysm and weakness in an artery wall such as old age, smoking, high blood pressure, drug abuse, head injuries, heavy alcohol consumption, certain blood infection, low estrogen level, and others. Diagnosis of the ruptured aneurysms can be done by the computed tomography (CT) scan after the signs of the subarachnoid hemorrhage. If computed tomography scan shows negative signs, then a lumbar puncture can be performed to detect blood in the cerebrospinal fluid to confirm an aneurysm. The computed tomography angiography (CTA) is also widely performed to detect and analyze the aneurysm.
High incidence of brain aneurysms is one major factor driving the market growth. According to a data published by the Brain Aneurysm Foundation in 2020, an estimated 6.5 million people in the U.S. are suffering from unruptured brain aneurysm, which accounts for around 1 in 50 people. Additionally, an estimated 500,000 deaths are caused due to brain aneurysms across the globe each year.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.