Neuroendovascular Coil Global Market Report 2024

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 observed in the historical period can be attributed to several factors, including the increasing incidence of neurovascular diseases, a growing aging population, advancements in diagnostic technologies, the expansion of neurointerventional facilities, awareness and education initiatives, as well as regulatory approvals and adherence to 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 anticipated growth in the forecast period can be attributed to a sustained increase in neurovascular cases, the expansion of neurointerventional services, a heightened focus on early intervention, the growth of global healthcare infrastructure, trends towards patient-centric care, and international collaborations in research. Major trends expected in the forecast period include advancements in detachable neuroendovascular coils, a rise in the utilization of liquid embolics, the development of bioactive and bioabsorbable coils, the integration of dual-layer coil technologies, and a focus on flow diverters for aneurysm treatment.

The increasing prevalence of neurovascular diseases is expected to drive the growth of the neuroendovascular coil market in the future. Neurovascular diseases impact the blood vessels supplying the nervous system, often resulting in neurological symptoms and complications. Neuroendovascular coils play a crucial role in the treatment of neurovascular diseases by being inserted into blood vessels to block off or stabilize abnormal blood vessel structures, thereby reducing the risk of bleeding or other complications. For example, data from March 2023, as reported by the Centers for Disease Control and Prevention, indicates an increase in stroke deaths from 38.8 per 100,000 in 2020 to 41.1 per 100,000 in 2021. Annually, there are more than 795,000 strokes in the United States, with 610,000 being first-time strokes. Therefore, the growing prevalence of neurovascular diseases is a significant factor driving the growth of the neuroendovascular coil market.

The increasing healthcare expenditure is also expected to contribute to the growth of the neuroendovascular coil market. Healthcare expenditure refers to the amount of money spent on healthcare services, encompassing medical goods and services, public health activities, and administration. The rise in healthcare expenditure supports advancements in neuroendovascular coil technology, fostering innovation, accessibility, and improved patient outcomes in the treatment of cerebral aneurysms and vascular disorders. For instance, data from March 2023, as reported by the American Medical Association, indicates that spending on healthcare in the United States increased by 2.7% to $12,914 per person in 2021, totaling $4.3 trillion. Therefore, the growth of healthcare expenditure is a driving force behind the expansion of the neuroendovascular coil market.

The limited availability of skilled professionals is expected to impede the growth of the neuroendovascular coil market in the future. The shortage of skilled professionals has the potential to drive up the cost of neuroendovascular treatment, as there may be insufficient qualified personnel to perform necessary procedures. This could result in restricted access to care for patients who are unable to afford such treatments, ultimately negatively impacting the sales of neuroendovascular coils. For instance, data from June 2021, as reported by the Association of American Medical Colleges (AAMC), suggests that specialty physicians, including those in anesthesiology and neurology, may face an estimated shortage ranging from 10,300 to 35,600 physicians by 2034. Hence, the limited availability of skilled professionals is acting as a hindrance to the growth of the neuroendovascular coil market.

Major companies in the neuroendovascular coil market are directing their efforts towards the development of soft and unique-shaped coils. In neuroendovascular procedures, these coils, such as tetrahedral coils, enhance aneurysm treatment by conforming to vessel anatomy, reducing complications, and improving patient outcomes, particularly in complex cases. For example, in December 2022, Stryker Corporation, a US-based medical technology company specializing in neuroendovascular coils, introduced the Target Tetra Detachable Coil. This innovative coil combines a new tetrahedral shape and softness level, specifically designed to treat small aneurysms. It provides a 2-in-1 feature with a unique tetrahedral shape that ensures stability in wide-necked aneurysms and a soft helical tail. This shape offers strong memory while remaining soft, making it a suitable choice for treating small aneurysms.

In April 2022, Wallaby Medical LLC, a US-based medical device company focusing on developing therapies for vascular disease, completed the acquisition of Phenox GmbH for approximately $543 million. This strategic move is expected to expand Wallaby Medical's stroke treatment and prevention product pipeline, facilitating accelerated global expansion. Phenox GmbH is a Germany-based provider of neuroendovascular coils and related products.

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.

North America was the largest region in the neuroendovascular coil market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neuroendovascular coil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the neuroendovascular coil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A neuroendovascular coil is a slender wire that is introduced into blood vessels to obstruct or redirect blood flow in the affected area, facilitating clot formation and preventing further complications. This medical device is primarily employed in the treatment of cerebral aneurysms and other vascular abnormalities.

The key product types within the realm of neuroendovascular coils include Guglielmi detachable coils (GDCs) and matrix coils. Guglielmi detachable coils (GDCs) serve as medical devices utilized in endovascular procedures to address cerebral aneurysms. They work by filling the aneurysm with detachable platinum coils, promoting clotting and averting the risk of rupture. These coils find application in various indications, encompassing both ruptured and unruptured aneurysms. Additionally, GDCs are employed for diverse purposes such as tumor surgery and medical teaching, with end users including hospitals, ambulatory surgical centers (ASCs), stroke centers, and other medical facilities.

The neuroendovascular coil market research report is one of a series of new reports that provides neuroendovascular coil market statistics, including neuroendovascular coil industry global market size, regional shares, competitors with a neuroendovascular coil market share, detailed neuroendovascular coil market segments, market trends and opportunities, and any further data you may need to thrive in the neuroendovascular coil industry. This neuroendovascular coil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The neuroendovascular coil market consists of sales of push able coils, framed coils, complex-shaped coils, micro coils, macro coils, guidewires (used in conjunction with coils), and catheters. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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