Aneurysm Coiling and Embolization Devices Market Size, Share, Industry Forecast and Outlook (2024-2031)

Aneurysm Coiling and Embolization Devices Market Size, Share & Trends Analysis Report By Product Type, By Application, By Material, By End-user, By Region, And Segment Forecasts, 2024 – 2031

Report Overview

The Global Aneurysm Coiling and Embolization Devices Market reached US$ 1.31 billion in 2023 and is expected to reach US$ 1.94 billion by 2031, growing at a CAGR of 5.0% during the forecast period 2024-2031.

The global aneurysm coiling and embolization devices used in treating brain aneurysms. An aneurysm can be defined as a weakening or bulging part of the blood vessle wall. In order to coil or plug an aneurysm, coiling and embolization devices are inserted in the blood vessel. It prevent it from bursting which could cause serious injury or even death.

The main driving forces dehind the market growth invole an aging population, smoking, genetic predisposition, and the increasing prevalence of hypertension, as well as advancements in the development of embolization devices. Owing to technological progress in coil characteristics, auxiliary devices and interventional procedures, endovascular coiling has become a viable and successful therapeutic option for both ruptured and unruptured aneurysms, leading a higher long term aneurysm occlusion rates.

The market is characterized by ongoing innovation and the introduction of advanced devices, focusing on effectively treating complex aneurysm. Techniques like ballon-assisted coiling and stent-assisted coiling have been developed to enchance coil packing density, improve obliteration rates, and decrease aneurysm recurrence rates, particularly for wide-necked, large, and gaint aneurysms.

Market Scope

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Market Dynamics: Drivers

Rising  prevalence of intracranial aneurysms (IAs) & associated risks

The key factor driving the market growth is the rising incidence of intracranial aneurysms & associated risks would drive the market. In this market, cerebral aneurysm ruptures are having very high morbidity and mortality. A study published in NCBI, in April 2023, nearly 25% are dead within the first 24 hours, and 50 % will die within the next three months.

There's a 20% chance of additional aneurysms developing. Approximately 20 out of 1,000 Americans will face an unruptured IA at some point in their lives. Factors increasing the risk of IAs include smoking, high blood pressure, and long-term alcohol consumption.

According to Brain Aneurysm Foundation data from 2024, in U.S., 6.8 miilion people have suffering from unruptured brain aneurysm. Out of 100,000 individuals, approximately 8,000 to 10,000 people encounter brain ruptures. In the U.S., brain aneurysms impact around 30,000 people, while globally, this condition leads to over 5 million annual fatalities.

Moreover, substantial progress in technology by prominent market players significantly contributes to market expansion. In July 2021, Terumo Medical Corporation launch the AZUR Vascular Plug. Terumo’s embolozation methods targets the complete regulation or cessation of bloof flow in peripheral vascular.

Restraints

Several factors, including high cost of the treatments, complexity associated with procedures, strict regulatory requirements, risk of  complications, and a lack of skilled professionals are expected to hamper the market growth.

Segment Analysis

The aneurysm coiling and embolization devices market is segmented based on product type, application, material, end-user and region.

The embolic coils segment accounted for approximately 49.3% of the aneurysm coiling and embolization devices  market share

The embolic coils segment is expected to hold the largest market share over the forecast period. These thin, metallic wires, knows as embolic coils, are meticulously placed with in aneurysms to stimulate blood clotting. This process ioslates the afflicted region from the broader circulatory system, aiding in the treatment of brain aneurysms and preventing potentially fatal ruptures. 

Furthermore, the rising occurance of cerebral aneurysms and the growing understanding of the adavntages offered by minimally invasive procedures, such as embolization, contribute to the expansion of this market segment.

The technological advancements in the product designed for the treatment of neurological developed by the industry's major players drive the growth of the market. For instance, in January 2023, the IMPASS embolic coil devices, which may be utilized to treat chronic subdural hematomas (CSDH) on the outermost layer of the brain, has been successfully employed in in-vivo studies to embolize the middle meningeal artery (MMA). This information was made public by Fludix Medical Technology, Inc. 

Furthermore, major market participants are concentrating on introducing innovative products.For instance, in March 2021, Shape Memory Medicals IMPEDE-FX embolization plug received from Japan’s Pharmaceuticals and Medical devices Agency. It is recommended to impede or lower the rate of blood flow in the peripheral vasculature using impede embolization plugs.

Geographical Analysis

North America accounted for approximately 42.4% of the market share 

North America region is expected to hold the largest market share over the forecast period. The key factors driving the growth of the North American market compare favorable reimbursement policies, especially in the U.S., availability of R&D investments, increasing adoption of embolization devices by neurosurgeons, and rising prevalence of cerebrovascular illnesses, the growing popularity of minimally invasive surgical procedures, and rising healthcare costs are driving the market growth in this region.

Moreover, in April 2021, the U.S. Food and Drug Administration (FDA) approved the pipeline flex embolization device with the shield technology of Medtronic PLC,  which was indicated primarily for a brain aneurysm. Shiled technology enhances the flow diverter device by decreasing thrombogenicity caused due to the material.

Furthermore, in March 2021, Instylla, Inc. confirmed the enrollment of the initial patients in the global randomized clinical trial for the treatment of hypervascular tumors using the pivotal embrace hydrogel system (HES). 

Market Segmentation

By Product Type

• Embolic Coils
• Aneurysm clips 
• Flow Diversion Device
• Liquid Embolic Agents
• Balloon and stent-assisted coils
• Others

By Application

• Tumor and Brain Cancer
• Brain Arteriovenous Malformations
• Ischemic Stroke
• Brain Aneurysm 
• Cerebral Edema
• Urology
• Peripheral Vascular Disease
• Others

By Material

• Titanium
• Cobalt
• Others 

By End-User

• Hospitals
• Ambulatory Surgical Units
• Clinics

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the aneurysm coiling and embolization devices market include Acandis GmbH, Johnson & Johnson Services, Inc., Medtronic, Penumbra, Inc., Stryker, Terumo Corporation, MicroPort Scientific Corporation, Abbott, W. L. Gore & Associates, Inc. and KANEKA CORPORATION among others. 

Key Developments

• On July 31, 2023, MicroVention, Inc., launched WEB-IT 5-year monitoring technology, broadening its applicability to various WEB aneurysm embolization system types and sizes. The WEB device is designed to treat brain aneurysms inside the aneurysm sac, disrupting blood flow, while sealing the neck and protecting the dome with MicroVention’s MicroBraid Technology. Such advancements attract healthcare providers and patients to opt for neurovascular embolization.
• On June 1, 2022, Medtronic launched pipeline vantage embolization devices with shield technology in India to treat a brain aneurysm. This technology is a new flow diverter with enhanced design features for both the delivery systems and the implant. 
• On December 6, 2022, Stryker inaugurated a new research and development center in India. The main objective of this facility was to accelerate the creation of advanced neurovascular devices, specifically intended for stroke treatment. This inauguration enabled Stryker to enhance its R&D facilities, access a skilled workforce, expand its global reach, and gain valuable insights into the global market.

Why Purchase the Report?

• To visualize the aneurysm coiling and embolization devices market segmentation based on product type, material, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of aneurysm coiling and embolization devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The aneurysm coiling and embolization devices market report would provide approximately 70 tables, 70 figures, and 180 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies