The Global Neuroendovascular Coils Market, by Product Type (Bare Metal Coil and Hydrogel Coated Coils), by Application (Aneurysm-Embolization, Malformation-Embolization, Ischemic Stroke-Revascularization, and Stenosis-Revascularization), by End User (Hospitals, Forensic Laboratories Stroke Center, and Ambulatory Surgical Centers), and by Region (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America), is estimated to be valued at US$ 961.7 Million in 2021 and is projected to exhibit a CAGR of 4.0% during the forecast period (2021-2028).
The rising prevalence of neurological disorders such as stroke is driving the neuroendovascular coils market growth. Stroke is the most common cause of death, followed by heart and cancer diseases, worldwide. For instance, according to CDC, in 2018, 15.2 million deaths of the 56.9 million deaths worldwide were due to stroke.
Global Neuroendovascular Coils Market– Impact of Coronavirus (COVID-19) Pandemic
COVID-19 pandemic has affected various industries globally. The players operating in the global neuroendovascular coils market are facing major challenges on various fronts due to the COVID-19 pandemic. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported globally, as of June 17, 2021, are approximately 176,531,710 confirmed cases with 3,826,181 deaths. COVID-19 disease has affected the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of medical instruments from one place to another. Delivering care to patients with neurological disease during this crisis is challenging due to competing risks of death from cancer versus death or serious complications from SARS-CoV-2, and the likely higher risk of COVID-19 in immune compromised hosts.
Browse 35 Market Data Tables and 30 Figures spread through 157 Pages and in-depth TOC on “Global Neuroendovascular Coils Market, by Product Type (Bare Metal Coil and Hydrogel Coated Coils), by Application (Aneurysm-Embolization, Malformation-Embolization, Ischemic Stroke-Revascularization, and Stenosis-Revascularization), by End User (Hospitals, Forensic Laboratories Stroke Center, and Ambulatory Surgical Centers), and by Region (North America, Europe, Asia Pacific, Middle East, Africa, Latin America) - Forecast to 2028”.
To know the latest trends and insights prevalent in this market, click the link below:
Increasing demand for minimally invasive surgical procedures and the introduction of technologically advanced products are expected to propel the growth of the global neuroendovascular coils market over the forecast period. For instance, in August 2020, Stryker received the U.S. Food and Drug Administration (FDA) approval for an expanded indication of its Neuroform Atlas Stent System, becoming the first and only adjunctive stent approved for use in the posterior (back of the brain) circulation.
Key Takeaways of the Global Neuroendovascular Coils Market:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.