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Neuroendovascular coiling is a procedure performed to block the blood flow into an aneurysm. Neuroendovascular coils are medical devices used in the treatment of cerebral aneurysms and other vascular abnormalities within the brain. An aneurysm is a bulge and weak area in the wall of a blood vessel. The rupture of aneurysms causes life-threatening blood loss and brain damage. The coils prevent blood flow into the aneurysm and prevent it from getting ruptured.
The neuroendovascular coils are designed to be delivered into the aneurysm through a minimally invasive procedure. An increase in the number of patients suffering from brain aneurysms is the major factor contributing to the growth of the neuroendovascular coil market.
Furthermore, an increase in research and development initiatives by market players and government approvals for the manufacturing and sales of neuroendovascular coils for neurovascular interventional treatment is expected to fuel the growth of the market.
The COVID-19 pandemic had a negative impact on the neuroendovascular coil market in 2020. The impact accounted for a decline in neurological surgeries as hospitals prioritized emergency cases and essential treatments.
Moreover, reduced patient visits to healthcare facilities for non-urgent conditions significantly decreased the demand for neuroendovascular procedures and negatively impacted the market during the pandemic.
Disruptions in the supply chain and redirection of focus of medical device manufacturing companies toward ensuring COVID-19 supplies disrupted the neuroendovascular coil market.
However, the market stabilized in 2021 with the resumption of neurological surgeries and hospital visits and is anticipated to expand at a rapid pace over the forecast period.
By Type | By Application | By End-User | By Geography |
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The report covers the following key insights:
Based on type, the bare metal coils accounted for a significant proportion of the global neuroendovascular coil market in 2022. The segment growth is attributed to constant innovation and the development of advanced metal coils. Besides, the coils are safe and effective which enhances their adoption in the market.
Furthermore, the rise of minimally invasive procedures for neuroendovascular diseases in developed and developing nations is estimated to drive segmental growth over the forecast period.
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North America dominated the neuroendovascular coil market in 2022 and is projected to maintain its position over the forecast period. The growth is mainly credited to a rise in the number of new and existing cases of brain aneurysms in America.
In addition, the robust growth of technology in the healthcare sector and increasing product launches, coupled with the rising level of research and development, are driving the growth of the market in North America.
The report includes the profiles of key players such as Stryker, Balt, Terumo Corporation, Medtronic, Johnson & Johnson Services, Inc. (J&J MedTech), Penumbra, Inc., Boston Scientific Corporation, and others.