Aneurysm Coiling Market: Introduction
- Aneurysm coiling is a minimally invasive endovascular treatment performed to treat aneurysm (a weakened area in the wall of an artery)
- It is essential to treat an aneurysm, a bulge caused by weakness in the wall of a blood vessel, which could rupture because of rise in pressure and bleed into the brain
- Symptoms of a ruptured aneurysm generally include sudden onset of a severe headache, nausea, vomiting, blurred vision or diplopia, and seizure. In aneurysm coiling, a surgeon tightly packs the aneurysm with detachable platinum coils that promote blood coagulation and reduce pressure on the outer wall.
- Aneurysm coiling has become popular across the world because it incurs less cost and lowers the danger for patients. IMARC Group expects the global aneurysm coil market to exhibit moderate growth during the next five years.
Key Drivers, Restraints, and Opportunities in Global Aneurysm Coiling Market
- Increase in number of patients affected by cerebrovascular disorder and rise in adoption of minimally invasive aneurysm procedures are projected to drive the global aneurysm coiling market in the next few years
- Surge in number of patients affected by high blood pressure and trauma to blood vessels is another factor propelling the global aneurysm coiling market
- Hypertension significantly increases the danger of brain aneurysm and other diseases. Presently, a large percentage of the population is in danger of developing brain aneurysms as a result of high blood pressure and smoking. According to the World Health Organization (2019), around 1.13 billion people across the world have hypertension.
- Minimally invasive surgeries are gaining popularity because of the reduced risk and trauma related to these procedures. Smaller incisions decrease postoperative pain and facilitate speedy recovery, resulting in high adoption of these procedures and triggering the growth of R&D in this field. Hence, key players continuously invest in research & development for the launch of innovative minimally invasive endovascular coiling instruments.
- Countries such as the U.S. and Canada have witnessed high prevalence of intracranial aneurysms in the past few years. A report published by Neuro Intervention India in 2017 stated that nearly 6.0 million people in the U.S. develop an un-ruptured aneurysm. Moreover, rupture of intracranial aneurysms accounts for around 30,000 deaths in the U.S. each year.
- Increase in incidence of intracranial aneurysms in some of the developed and developing countries has driven the launch of technologically advanced products in the market. Endovascular coiling, surgical clipping, and flow diverters are some of the notable treatment modalities used for treating intracranial aneurysms.
North America Dominated Global Aneurysm Coiling Market
- North America dominated the global aneurysm coiling market, accounting for the largest share in 2020 because of well-established health care facilities, increase in the geriatric population, and high incidence of hypertension and stroke. Moreover, rise in prevalence of intracranial aneurysms and increase in demand for minimally invasive procedures contribute to the growth of the market in the region.
- Asia Pacific is projected to expand at a high CAGR from 2021 to 2031. This is attributed to increase in the geriatric population, lifestyle stress, surge in incidence of hypertension, large population, improvement in the quality of diagnosis, and rise in patient affordability. Moreover, lucrative opportunities in developing countries such as Japan, India, and China is likely to boost the growth of the market in Asia Pacific.
Key Companies in Global Aneurysm Coiling Market
Companies in the market focus on the introduction of innovative medical devices, growth strategies, and technological advancements. For instance, in 2019, Medtronic received the U.S. FDA approval for a Pipeline Flex Embolization Device used for the treatment of giant or wide-necked intracranial aneurysms (IAs). These advancements are anticipated to boost the growth of the global aneurysm coiling market during the forecast period. Key players in the global market are:
- Cardinal Health
- Microport Scientific Corporation
- Cook Medical Incorporated
- B. Braun
- Boston Scientific Corporation
- Johnson and Johnson Services, Inc.
- MicroVention, Inc. (Terumo Corporation)
- Codman Neuro (Integra Lifesciences)
Global Aneurysm Coiling Market, Research Scope
Global Aneurysm Coiling Market, by Type
- Surgical Clipping
- Endovascular Coiling
- Flow Diverters
Global Aneurysm Coiling Market, by End-user
Global Aneurysm Coiling Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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