Industry: Healthcare
Published Date: September-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 182
Report ID: PMRREP34830
The neuroendovascular coil market is estimated to increase from US$1.03 Bn in 2024 to US$1.56 Bn by 2031. The market is projected to record a CAGR of 6.1% during the forecast period from 2024 to 2031. The increased integration of AI and imaging technologies in treatment planning is one of the crucial elements for the market progress. Hospitals are predicted to be the leading end user over the forecast period.
Key Highlights of the Market
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Market Attributes |
Key Insights |
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Market Size (2024E) |
US$1.03 Bn |
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Projected Market Value (2031F) |
US$1.56 Bn |
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Global Market Growth Rate (CAGR 2024 to 2031) |
6.1% |
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Historical Market Growth Rate (CAGR 2019 to 2023) |
4.8% |
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Region |
Market Share in 2024 |
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North America |
35% |
North America is the dominant region in the neuroendovascular coil market, North America, particularly the United States holds the largest share of the market. This dominance is driven by advanced healthcare infrastructure, high healthcare spending, and a well-established market for neurological devices.
The rising incidence of conditions such as aneurysms and strokes especially in aging population has fueled the demand for neuroendovascular coils in this region. North America is home to leading players like Stryker, Medtronic, and Johnson & Johnson, who lead the innovation and development of advanced coil technologies.
The region also benefits from favourable regulatory frameworks that promote clinical trials and the rapid commercialization of new devices. The U.S. government’s investment in healthcare research and support from the National Institutes of Health (NIH) has fostered the growth of minimally invasive treatments including neuroendovascular procedures.
Europe is a leading region for the neuroendovascular coil market with countries such as Germany, France, and the U.K. being key contributors. The region benefits from a high technological adoption of minimally invasive surgeries.
Europe’s aging population is a significant driver for market growth. With an increasing number of elderly individuals susceptible to cerebrovascular conditions, the demand for neuroendovascular coils is expected to rise.
The European Medicines Agency (EMA) regulates the European market, and while regulations are stringent, they support the adoption of advanced technologies. Reimbursement policies, especially in Western Europe, support using high-cost devices like neuroendovascular coils.
Europe’s market is more fragmented than North America's with diverse healthcare systems across countries, which leads to variations in market penetration, treatment protocols, and pricing structures.
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Category |
Market Share in 2024 |
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Product Type - Guglielmi Detachable Coils |
52% |
The market is segmented into guglielmi detachable coils, and matrix coils based on product type. Among these, the guglielmi detachable coils dominates the market. The guglielmi detachable Coils (GDCs) constituted the predominant proportion of the market, which is primarily attributable to the increasing demand for guglielmi detachable coils (GDCs) from end users.
Guglielmi detachable coils (GDCs) are pliable and readily available in two-dimensional and three-dimensional configurations. The advantageous ability to be easily moved, along with enhanced regulation of detachment tracking and visibility through fluoroscopic imaging further drives the expansion of this segment. This segment growth is driven by the rising number of neuroendovascular surgeries and the growing older population globally.
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Category |
Market Share in 2024 |
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End Use - Hospitals |
40% |
The market is segmented into hospitals, ambulatory surgical centres, and stroke centres based on end user. Among these, the hospitals segment dominates the market. The hospitalssSegment constituted the majority of the neuroendovascular coil market, which is attributable to patients' rising preference for hospitals to diagnose illnesses such as cerebral aneurysms and tumor surgery.
The presence of advanced infrastructure and ready access to qualified physicians and multifunctional teams in hospitals are further driving the expansion of this industry.
Neuroendovascular coiling is a minimally invasive endovascular procedure to occlude cerebral vessel blood flow. Treating an aneurysm, a dilation resulting from a weakening in a blood vessel wall is crucial, as it may rupture under increased pressure and lead to cerebral haemorrhage.
The manifestations of a ruptured aneurysm typically encompass an abrupt, intense headache, nausea, emesis, visual disturbances such as blurred or double vision, and seizures. In neuroendovascular coiling, a surgeon meticulously fills the aneurysm with detachable platinum coils that facilitate thrombosis and alleviate strain on the vessel wall. Neuroendovascular coiling is gaining global popularity due to its reduced cost and diminished patient danger.
Significant advancements have been achieved in neuroendovascular coil technology regarding design, length, and bioactivity. Additionally, substantial advancements have been achieved in intracranial stents to enhance their deployment and distribution mechanisms. Surgeons have commenced the integration of intracranial stents with coil technology to address aneurysms and mitigate recurrence-related complications.
Endovascular coiling is regarded as a superior surgical method to clipping in terms of postoperative complications, good results, and rehabilitation. Additionally, numerous industry participants are investing in developing technologically improved items.
The neuroendovascular coil market experienced steady growth pre-2023, driven by rising incidences of cerebral aneurysms and strokes, particularly in aging populations. Increasing adoption of minimally invasive procedures over traditional open surgeries contributed to the growing demand for neuroendovascular coils.
Technological advancements, such as the development of coated coils with improved biocompatibility, also enhanced procedural outcomes, driving market expansion. The presence of major players like Medtronic and Stryker facilitated the widespread availability of these coils across developed regions, particularly North America and Europe. However, market growth in emerging economies was slower, constrained by limited healthcare infrastructure and high treatment costs.
Post-2024, the market is projected to accelerate due to multiple factors. Growing healthcare investments in developing regions like Asia Pacific and Latin America will boost access to neuroendovascular treatments.
The increasing incidence of strokes globally, fuelled by lifestyle changes, hypertension, and diabetes, is expected to drive the need for neurointerventional procedures. Advancements in neuroendovascular coil technology, such as hydrogel-based coils and micro catheters, will further enhance procedural safety and efficacy.
Regulatory bodies' focus on approving innovative products and increasing awareness about aneurysm management will push market growth. As a result, the neuroendovascular coil market is anticipated to witness robust expansion post-2024.
Increasing Prevalence of Cerebral Aneurysms and Stroke
The rising incidence of cerebral aneurysms and stroke is a significant growth driver for the neuroendovascular coil market. As populations age and risk factors like hypertension, obesity, and smoking become more prevalent, the number of patients experiencing aneurysms is on the rise globally.
Stroke, in particular, remains one of the leading causes of death and long-term disability. This surge in neurological conditions necessitates effective, minimally invasive treatment options like neuroendovascular coiling, which has become a preferred method for treating intracranial aneurysms.
The increasing awareness and early diagnosis of these conditions, combined with advancements in imaging technologies, are leading to more neuroendovascular procedures. As healthcare systems focus on reducing the burden of stroke-related disabilities, the demand for neuroendovascular coils is projected to grow significantly.
Technological Advancements in neurointerventional Devices
Technological innovations in neuroendovascular coil design are a crucial driver of market growth. Modern coils have improved flexibility, visibility, and biocompatibility, allowing for more precise and safer interventions. Developing hydrogel-coated coils that expand once inside the aneurysm has enhanced treatment efficacy by improving the likelihood of successful aneurysm occlusion.
Micro catheters and other delivery systems have also evolved, enabling physicians to more accurately navigate complex and delicate neurovascular pathways. Such advancements reduce procedural risks and recovery times making neuroendovascular procedures appealing to patients and physicians. As companies continue investing in R&D, new products that further improve patient outcomes and procedural efficiency will drive market growth.
Rising Adoption of Minimally Invasive Neurosurgery
The increasing preference for minimally invasive surgical techniques over open surgical methods is a significant growth driver for the neuroendovascular coil market.
Traditional aneurysm treatments, such as open surgical clipping, involve significant risks, longer recovery times, and potential complications. In contrast, neuroendovascular coiling is a less invasive procedure that can be performed through a small incision in the femoral or radial artery, allowing for a faster recovery and reduced hospital stays.
With growing patient awareness of these benefits, there is a shift toward endovascular treatments for aneurysms and other cerebrovascular disorders. The shift is powerful in regions with advanced healthcare infrastructure, such as North America and Europe, but is also expanding in emerging markets. The rising demand for less invasive procedures continues to boost the adoption of neuroendovascular coils.
High Cost of Neuroendovascular Procedures
One of the primary restraints for the neuroendovascular coil market is the high cost associated with these procedures. Neuroendovascular treatments, particularly in developed regions like North America and Europe, can be expensive due to the need for specialized equipment, advanced imaging technologies, and skilled healthcare professionals.
The cost of the coils and hospital fees can make these procedures unaffordable for patients in regions with limited healthcare coverage or poor reimbursement systems. In emerging markets like Asia-Pacific and Latin America, where healthcare infrastructure is still developing, the high cost of neuroendovascular coils further restricts market penetration. This financial barrier limits access to treatment, especially for lower-income populations, thereby constraining the overall market growth.
Limited Awareness and Expertise in Emerging Markets
Another critical restraint is the limited awareness and expertise in neuroendovascular procedures, particularly in low- and middle-income countries. Many healthcare facilities in emerging regions need more infrastructure, trained professionals, and advanced imaging technologies for these complex treatments.
There is often a need for more patient awareness regarding the availability of neuroendovascular treatment options leading to delayed diagnosis or the selection of more traditional, invasive procedures like surgical clipping.
The shortage of skilled neuro interventionists and specialized equipment in hospitals limits the adoption of neuroendovascular coils in regions with growing demand, slowing the market expansion. Training programs and education for patients and healthcare providers will be crucial to overcoming this challenge.
Advancements in Bioactive and Hydrogel-Coated Coils
Technological advancements in neuroendovascular coil design present another significant growth opportunity. Developing bioactive and hydrogel-coated coils is revolutionizing treatment outcomes for aneurysm patients.
Hydrogel-coated coils, for example, expand once inside the aneurysm, improving occlusion rates and reducing the need for retreatment. These coils offer improved efficacy, especially in challenging cases involving wide-neck or irregular aneurysms.
Bioactive coils stimulate healing by promoting endothelial growth and further enhance patient outcomes by encouraging natural vessel healing. These next-generation coils are gaining traction among neurosurgeons and interventional radiologists, leading to broader adoption of neuroendovascular procedures. As R&D continues to improve coil technology, the effectiveness and safety of these treatments will expand, presenting a promising avenue for market growth.
Integration of Artificial Intelligence in Treatment Planning
The integration of artificial intelligence (AI) in neuroendovascular procedures represents a transformative opportunity for the market. AI-driven imaging and diagnostic tools can significantly improve the precision and accuracy of aneurysm detection and treatment planning.
Advanced AI algorithms are being developed to assist physicians in determining the most effective treatment options, predicting procedural outcomes, and optimizing the placement of neuroendovascular coils. This technology not only enhances the success rates of procedures but also reduces the time required for complex neurointerventions.
As AI continues to evolve and becomes more integrated into healthcare systems, it can dramatically streamline neuroendovascular treatments making these procedures more accessible and affordable for a broader patient population.
The neuroendovascular coil market is highly competitive, dominated by several key players focusing on innovation and expanding their product portfolios.
Leading companies include Stryker, Medtronic, Johnson & Johnson (via its subsidiary Codman Neuro), and Terumo Corporation. The companies are engaged in continuous R&D efforts to develop advanced coils, such as bioactive and hydrogel-coated varieties, which enhance procedural outcomes.
The market is also witnessing increasing competition from regional players, particularly in Asia-Pacific, as they introduce cost-effective alternatives to cater to price-sensitive markets. Mergers, acquisitions, and partnerships are common strategies among these players to maintain a competitive edge, while regulatory approvals of new products are crucial for market expansion and dominance.
Recent Industry Developments in the Neuroendovascular Coil Market
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Attributes |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2019 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Market Segments Covered |
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Key Companies Profiled in the Report |
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Report Coverage |
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Customization & Pricing |
Available upon request |
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By Indication
By End User
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To know more about delivery timeline for this report Contact Sales
The market is estimated to be valued at US$1.56 Bn by 2031.
The market is estimated to exhibit a CAGR of 6.1% over the forecast period.
Medtronic, Stryker Corporation, DePuy Synthes, are some of the key players operating in the market.
North America is the leading regional market.
The increasing prevalence of cerebral aneurysms drives the market forward.
