Neuroendovascular coil is a device, which is widely used for the treatment of aneurysms. Aneurysm is a disorder that occurs when an artery's wall weakens and causes an abnormal bulge. There are two types of aneurysms that can be treated using neuroendovascular coil namely, ruptured aneurysms and unruptured aneurysms. Ruptured aneurysms are those, which releases blood into the subarachnoid space around the brain and unruptured aneurysms do not rupture and grow large or press on the brain or nerves. When neuroendovascular coil is introduced into the artery, the coil prevents blood from flowing into the aneurysm. This causes the blood inside the aneurysm to clot, thereby destroying the aneurysm.
Neuroendovascular Coil Market Drivers
Introduction of novel neuroendovascular coils into the market is expected to be a major driver for growth of the global neuroendovascular coil market. For instance, in 2017, Three Rivers Medical, Inc. received CE marking for its latest Rio Embolization Coil System. Rio Embolization Coil System is designed for endovascular embolization of intracranial aneurysms and other neurovascular abnormalities such as arteriovenous fistulae and arteriovenous malformations. In January 2018, Cerenovus, which is a part of the Johnson & Johnson launched its latest Galaxy G3 mini coil, a next generation embolic coil that can be used for the endovascular treatment of cerebral aneurysms and hemorrhagic stroke. In 2017, Cerenovus received 510 (k) clearance for Galaxy G3 mini coil from the U.S. Food and Drug Administration (FDA). In 2017, Medtronic Plc. launched its latest Concerto 3-D Detachable Coil System at the Cardiovascular and Interventional Radiological Society of Europe (CIRSE) Meeting. Strategic mergers and acquisitions by key players in the neuroendovascular coil market is also expected to boost growth of the global neuroendovascular coil market over the forecast period. For instance, in 2015, Medtronic Plc. acquired Medina Medical for US$ 150 million to widen its product portfolio with Medina Medical’s neuroendovascular coil. Furthermore, the increasing prevalence of brain aneurysms is also expected to increase the demand for neuroendovascular coils for its treatment. For instance, according to the data published by Brain Aneurysms Foundation in 2017, around 6 million people or one in every 50 people in the U.S. are suffering from brain aneurysm and around 30,000 people in the U.S suffers from brain aneurysm annually.
Neuroendovascular Coil Market Restraint
The launch of alternatives to neuroendovascular coil such as stents, liquid agents, and flow diversion devices are expected to hinder growth of the global neuroendovascular coil market over the forecast period. For instance, in 2017, Stryker Corporation received the U.S. Food and Drug Administration approval for its latest Neuroform Atlas Stent System for the treatment of wide neck aneurysms.
Neuroendovascular Coil Market Regional Analysis
North America is expected to hold a dominant position in the global neuroendovascular coil market over the forecast period, owing to the presence of key players in the region and rapid product launches by them. For instance, Medtronic Plc., Stryker Corporation, and Johnson and Johnson are the U.S.-based key players and in 2015, Codman Neuro, which is a part of DePuy Synthes Companies of Johnson & Johnson, launched a latest platform of embolic coils indicated for the treatment of brain aneurysms. Furthermore, Asia Pacific is expected to show a significant growth in the near future due to increasing approval of novel neuroendovascular coils in the region. For instance, in 2012, Penumbra, Inc. received Shonin approval by the Japanese Ministry of Health, Labor, and Welfare for its new Penumbra Coil 400. Penumbra Coil 400 is a novel endovascular coiling technology indicated for the treatment of intracranial aneurysms. Such approvals are expected to drive growth of the neuroendovascular coil market in Asia Pacific.
Neuroendovascular Coil Market Key Players
The major players operating in the neuroendovascular coil market include Medtronic Plc., Three Rivers Medical, Inc., Stryker Corporation, Johnson & Johnson, Cardinal Health Inc., Penumbra, Inc., Boston Scientific Corporation, Cook Medical Inc., and Terumo Corporation. Key players in the market are focusing on frequent launches of innovative products. For instance, in 2013, Terumo Interventional Systems launched its new Detachable Azur CX Peripheral Coil System at the 11th Vascular InterVentional Advances Conference (VIVA).
Neuroendovascular Coil Market Taxonomy:
The global neuroendovascular coil market is segmented on the basis of product type, indication, end user, and region.
By Product Type-
By End User-
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.sal[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.