US Embolization Coils Market to Grow at a CAGR of 4.7% to reach US$ 532.24 Million from 2021 to 2028
The US embolization coils market is expected to grow from US$ 388.61 million in 2021 to US$ 532.24 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2022 to 2028.
Embolization coils are used to treat brain and cardiac aneurysms and other blood-related conditions. This is used as an alternative to surgical embolization to cut the blood supply to the tumor. It is used to treat various types of diseases such as liver cancer, kidney cancer, aortic artery disorders, neuroendocrine tumors, and peripheral vascular diseases.
Market Insights
Rise in Prevalence of Cardiac Aneurysm
Cardiovascular diseases (CVDs) are disorders of the heart and blood vessels and include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Factors such as tobacco use, an unhealthy diet, and physical inactivity increase the risk of heart attacks and strokes. CVDs are the leading cause of death across the globe, and they affect more people than any other disease.
The cardiac aneurysm is majorly caused due to blockages in the aortic artery. The disease is categorized into two diseases according to the site of blockages. The blockages in the chest are called thoracic aortic aneurysms, and those in the abdomen are called abdominal aortic aneurysms. There is a rise in the prevalence of cardiac aneurysms worldwide. For instance, the Society for Vascular Surgery (SVS) stated that every year in the US, 2 million people are diagnosed with an abdominal aortic aneurysm. It also stated that a rupture abdominal aortic aneurysm is the 15th leading cause of death in the country. It is most commonly seen in people above 55 years of age.
In addition, the abdominal aortic aneurysm is majorly based on family history or inheritance. The immediate relative is more prone to getting an abdominal aortic aneurysm. They are 10 times more likely to develop an abdominal aortic aneurysm. And the person may have different type of aneurysm. Therefore, the rise in the prevalence of cardiac aneurysms is fueling the growth of the embolization coils market.
In the US, lung cancer is the leading cause of cancer-related death. Additionally, breast cancer has at least a 25% higher incidence among women and cervical carcinoma is the leading cause of death in 2020. Moreover, according to the American Cancer Society journal, in 2021, ~1.9 million new cancer cases were diagnosed, and there were ~608,570 cancer deaths in the US. Further, according to National Center for Health Statistics and National Vital System, Mortality Data of the US, in 2020, ~1,153 children younger than 15 years old died of cancer, and 8,863 adolescents and young adults between 15 and 39 years old died of cancer. In addition, 151,578 adults between 40 and 64 years old died of cancer; 338,340 adults between 65 and 84 years old died of cancer; and 102,413 adults who were 85 years and older died of cancer.
Type Insights
Based on type, the US embolization coils market is segmented into detachable coil and pushable coil. In 2021, the detachable coil segment held a larger market share. Moreover, the same segment is estimated to grow at a significant CAGR of 5.0% during the forecast period. Detachable coils are generally made up of platinum and are used for precisely placing the coils at the desired site of treatment. The detachable coils take less time for the procedure compared to the pushable coils. Detachable coils are characterized as soft or standardized coils used for aneurysms and vessels in various clinical applications. The coils are placed with the one-click mechanical detachment handle technology.
US Embolization Coils Market, by Type – 2022 and 2028
Application Insights
Based on application, the US embolization coils market is segmented into neurology, cardio, urology, oncology, peripheral vascular disease, and other. In 2021, the neurology segment held the largest share of the market. Moreover, the same segment is expected to grow at the fastest rate in the coming years. The application of the embolization coils in the field of neurology is generally used to treat brain aneurysms and arteriovenous malformations (AVM). An arteriovenous malformation (AVM) is a tangle of blood vessels connecting arteries and veins that disrupts blood flow and oxygen circulation, resulting in a lack of oxygen for surrounding tissues.
Material Insights
Based on material, the US embolization coils market is segmented into platinum, platinum & hydrogel, and platinum tungsten alloy. The platinum segment held the largest share of the market in 2021. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028.
End User Insights
Based on end user, the US embolization coils market is segmented into hospital, cardiac center, ambulatory center, and other. The hospital segment will hold the largest share of the market in 2021. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028.
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US Embolization Coils Market: Strategic Insights
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US Embolization Coils Market: Strategic Insights
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Inorganic developments such as mergers and acquisitions are highly adopted strategies by companies in the US embolization coils market. A few of the recent key market developments are listed below:
- In August 2022, Boston Scientific Corporation BSX announced the acquisition of Obsidio, Inc. It is a privately held company and the renowned developer of the FDA-authorized Gel Embolic Material (GEM) technology.
- In May 2022, Boston Scientific gained FDA clearance for its Embold Fibered Detachable Coil, a new device developed to assist interventional clinicians with embolization procedures. The Embold Fibered Coil obstructs or reduces blood flow in the patient’s peripheral vasculature.
- In August 2022, Boston Scientific Corporation announced that it had received FDA 510(k) clearance for the Embold fibered detachable coil, which is indicated to obstruct or reduce the rate of blood flow in the peripheral vasculature. A full commercial launch of the device will begin in the US in the coming weeks.
Company Profiles
- Terumo Corporation
- Medtronic
- Boston Scientific Corporation
- Stryker
- KANEKA CORPORATION
- MicroPort Scientific Corporation
- Penumbra, Inc
- Cook Medical LLC
- Johnson & Johnson Services, Inc.
- Shape Memory Medical INC,
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Embolization Coils Market – By Type
1.3.2 Embolization Coils Market – By Material
1.3.3 Embolization Coils Market – By Application
1.3.4 Embolization Coils Market – By End User
2. US Embolization Coils Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. US Embolization Coils Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 US – PEST Analysis
4.3 Expert Opinion
4.4 Peripheral Coil Products
4.5 ASP by Manufacturer
5. US Embolization Coils Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Prevalence of Cardiac Aneurysm
5.1.2 Increase in Incidence of Cancer Cases
5.1.3 Rise in Patient Preference for Minimally Invasive Procedures
5.1.4 Surge in Incidence of Hypertension, Obesity, Smoking, and Alcoholism
5.2 Market Restraints
5.2.1 High Cost of Embolization Coils
5.2.2 Numerous Product Recalls
5.3 Market Opportunities
5.3.1 Growing Applications of Embolization Coils
5.4 Future Trends
5.4.1 Rise in Interventional Radiology
5.5 Impact analysis
6. Embolization Coils Market – US Analysis
6.1 US Embolization Coils Marker Revenue Forecast and Analysis
6.2 US Non-Emergency Medical Transportation Market - Forecast and Analysis
6.3 Market Positioning of Key Players
6.4 Comparative Company Analysis
6.5 Growth Strategy Analysis
6.5.1 Performance of Key Players
6.5.1.1 Boston Scientific Corporation
6.5.1.2 Medtronic plc.
7. US Embolization Coils Market Revenue and Forecasts to 2028 –Type
7.1 Overview
7.2 Embolization Coils Market Revenue Share, by Type (2022 and 2028)
7.3 Detachable Coils
7.3.1 Overview
7.3.2 Detachable Coils: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
7.4 Pushable Coils
7.4.1 Overview
7.4.2 Pushable Coils: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
8. US Embolization Coils Market Revenue and Forecasts To 2028 – Materials
8.1 Overview
8.2 Embolization Coils Market Revenue Share, by Material (2022 and 2028)
8.3 Platinum
8.3.1 Overview
8.3.2 Platinum: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
8.4 Platinum & Hydrogel
8.4.1 Overview
8.4.2 Platinum & Hydrogels: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
8.5 Platinum Tungsten Alloys
8.5.1 Overview
8.5.2 Platinum Tungsten Alloys: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
9. US Embolization Coils Market Revenue and Forecasts To 2028 – Application
9.1 Overview
9.2 Embolization Coils Market Revenue Share, by Application (2022 and 2028)
9.3 Neurology
9.3.1 Overview
9.3.2 Neurology: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
9.4 Cardiology
9.4.1 Overview
9.4.2 Cardiology: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
9.5 Urology
9.5.1 Overview
9.5.2 Urology: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
9.6 Oncology
9.6.1 Overview
9.6.2 Oncology: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
9.7 Peripheral Vascular Disease
9.7.1 Overview
9.7.2 Peripheral Vascular Disease: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
9.8 Others
9.8.1 Overview
9.8.2 Others: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
10. US Embolization Coils Market Revenue and Forecasts To 2028 – End User
10.1 Overview
10.2 Embolization Coils Market Revenue Share, by End User (2022 and 2028)
10.3 Hospital
10.3.1 Overview
10.3.2 Hospital: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
10.4 Cardiac Centers
10.4.1 Overview
10.4.2 Cardiac Centers: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
10.5 Ambulatory Centers
10.5.1 Overview
10.5.2 Ambulatory Centers: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
11. Embolization Coils Market Analysis – By Country
11.1 US: Embolization Coils Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1 Overview
11.1.2 US: Embolization Coils Market – Revenue and Forecast to 2028 (US$ Million)
11.1.3 US: Embolization Coils Market, by Type, 2019–2028 (US$ Million)
11.1.4 US: Embolization Coils Market, by Material, 2019–2028 (US$ Million)
11.1.5 US: Embolization Coils Market, by Application, 2019–2028 (US$ Million)
11.1.6 US: Embolization Coils Market, by End User, 2019–2028 (US$ Million)
12. Impact of COVID-19 Pandemic on US Embolization Coils Market
12.1 US: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Growth Strategies Done by the Companies in the Market, (%)
13.3 Organic Developments
13.3.1 Overview
13.4 Inorganic Developments
13.4.1 Overview
14. Company Profiles
14.1 Terumo Corporation
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Medtronic
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Boston Scientific Corporation
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Stryker
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 KANEKA CORPORATION
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 MicroPort Scientific Corporation
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Penumbra, Inc.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Cook Medical LLC
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Johnson & Johnson Services, Inc.
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Shape Memory Medical INC
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Glossary of Terms
LIST OF TABLES
Table 1. Peripheral Coil Products
Table 2. ASP by Manufacturer
Table 3. US: Embolization Coils Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Embolization Coils Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Embolization Coils Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Embolization Coils Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 1. Organic Developments Done by Companies
Table 2. Inorganic Developments Done by Companies
Table 3. Glossary of Terms, Non-Emergency Medical Transportation Market
LIST OF FIGURES
Figure 1. Embolization Coils Market Segmentation
Figure 2. Embolization Coils Market – By Geography
Figure 3. US Embolization Coils Market Overview
Figure 4. Detachable Coils Held Largest Share of Embolization Coils Market
Figure 5. US Embolization Coils Market, Industry Landscape
Figure 6. US PEST Analysis
Figure 7. Expert Opinion
Figure 8. Embolization Coils Market Impact Analysis of Drivers and Restraints
Figure 9. US Embolization Coils Market – Revenue Forecast and Analysis – 2020- 2028
Figure 10. Market Positioning of Key Players in US Embolization Coils Market
Figure 11. US Embolization Coil Market – Comparative Company Analysis
Figure 12. US Embolization Coils Market – Growth Strategy Analysis
Figure 13. Embolization Coils Market Revenue Share, by Type (2022 and 2028)
Figure 14. Detachable Coils: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 15. Pushable Coils: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 16. Embolization Coils Market Revenue Share, by Material (2022 and 2028)
Figure 17. Platinum: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 18. Platinum & Hydrogels: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 19. Platinum Tungsten Alloy: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 20. Embolization Coils Market Revenue Share, by Application (2022 and 2028)
Figure 21. Neurology: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 22. Cardiology: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 23. Urology: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 24. Oncology: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 25. Peripheral Vascular Disease: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 26. Others: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 27. Embolization Coils Market Revenue Share, by End User (2022 and 2028)
Figure 28. Hospital: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 29. Cardiac Centers: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 30. Ambulatory Centers: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 31. Others: Embolization Coils Market– Revenue and Forecast to 2028 (US$ Million)
Figure 32. US: Embolization Coils Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Impact of COVID-19 Pandemic in US Markets
Figure 34. Growth Strategies Done by the Companies in the Market, (%)
- Terumo Corporation
- Medtronic
- Boston Scientific Corporation
- Stryker
- Johnson & Johnson Services, Inc
- Cook Medical LLC
- Penumbra, Inc
- KANEKA CORPORATION
- Shape Memory Medical INC
- Microport Scientific Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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