Global Embolization Coil Market 2019-2023 | 5% CAGR Projection Over the Next Five Years | Technavio

LONDON--(BUSINESS WIRE)-- The global embolization coil market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global embolization coil market from 2019-2023. (Graphic: Business Wire)

Detachable coils are gaining prominence among users as they are directly inserted into a blood vessel using microcatheter to treat fistulas and tumors. These coils offer several advantages, including precise coil control and stability, reliability, ease of use, instant deployment, and fewer complications. The demand for these coils is likely to proliferate due to higher efficacy, improved embolic volume filing, and less thrombus formation. As a result, the rising demand for detachable coils compared to conventional coils will contribute to the growth of the embolization coil market during the forecast period.

As per Technavio, technological advances will have a positive impact on the market and significantly contribute to market growth over the forecast period. This global embolization coil market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over the forecast period.

Global embolization coil market: Technological advances

Technological advances and innovations are gaining prominence to cater to the rising demand from end-users, including hospitals, clinics, diagnostic centers, and ASCs. 3D embolization coils, miniaturized coil, and embolization coil with integrated deployment mechanism are some of the recent developments which cater to the requirements of different types of surgeries. Vendors are also offering 3D embolization coils that provide reliable, accurate, and safe deployment in the treatment of wide-necked aneurysms. Therefore, rising advances in technology will boost the growth of the embolization coil market during the forecast period.

“Market players are also providing embolization coils with an integrated deployment mechanism which works on both pushable and detachable mechanisms, thereby reducing procedural costs. It is used for permanent mechanical occlusion to treat tumors. Therefore, the rising deployment of technological advances will foster the growth of the embolization coil market in the upcoming years,” says a senior research analyst at Technavio.

Global embolization coil market: Segmentation analysis

This market research report segments the global embolization coil market by deployment-type (detachable coil, and pushable coil), application (neurology, oncology, peripheral vascular disease, cardiology, and others) and geographic regions (North America, Europe, Asia, and ROW).

North America led the market in 2018, followed by Europe, Asia, and ROW, respectively. The market growth in North America is driven by the presence of well-equipped and established healthcare infrastructure, availability of highly skilled professionals, and the presence of extensive healthcare insurance coverage. Furthermore, rising R&D expenditure of vendors, high adoption of technologically advanced products, and the availability of less invasive treatments will further foster market growth during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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