Micro Coil Market to Hit US$ 1,151.53 million by 2028

Micro coil Market for Pushable Coil Segment to Grow at Highest CAGR during 2021–2028

NEW YORK, UNITED STATES, December 1, 2022 /EINPresswire.com/ -- Micro coil or Embolization coils are the minimally invasive devices to diagnose and treat a patient from within a blood vessel. The process is done using continual X-ray visualization and high-speed radiographic filming techniques. After the procedure, the catheters are removed, patients are transferred to Intensive Care for monitoring and further care. These micro coils are made of soft platinum metal, Platinum Tungsten Alloy, and Platinum & Hydrogel and are shaped like a spring.

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Cardiovascular diseases (CVDs) are likely to remain the major cause of morbidity and mortality across the world. Heart failure, stroke, rheumatic heart disease, aortic aneurysm, and peripheral artery disease are among the most common CVDs. Unhealthy diet adoption, tobacco consumption, sedentary lifestyle, and alcoholism are the major factors leading to rise in incidence of CVDs across the world. According to the World Health Organization (WHO), CVDs are number one cause of death across the world. Also, in 2020, the Centers of Disease Control and Prevention (CDC) estimated that, on an average, one death after every 36 seconds is recorded due to CVDs in the US. Moreover, according to the same study, the country reports an estimated 850,000 cases of heart attack each year. Further, as per the American Heart Association (AHA) 2019 statistics, 121.5 million adults in the US, which is around half of the US adult population, suffer from CVDs.

The Micro coil Market was valued at US$ 836.30 million in 2021 and is projected to reach US$ 1,151.53 million by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028.

Market leaders operating in the market have undertaken various organic growth strategies in the micro coil market. The micro coil market majorly consists of the players including Terumo Corporation, Medtronic, Boston Scientific Corporation, Stryker Corporation, Cook Medical LLC, Penumbra, Inc., Balt USA LLC, Johnson and Johnson Services, Inc., Classic Coil Company, and KANEKA CORPORATION, among others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as new product launches, expansion, and product approvals.

Below is the list of the growth strategies done by the players operating in the micro coil market:

In Apr-2020, Kaneka Corporation has received United States' Food and Drug Administration approval for new micro coil i-ED Coil used in treatment of embolization of brain aneurysms. Kaneka plans to also expand the sales area to Europe and Asia and is aiming for 10 billion yen in sales of i-ED Coil by 2023.

In May-2019, Stryker has received premarket approval for Neuroform Atlas Stent System from US FDA. Neuroform Atlas Stent System consists of Target XL Detachable Coil for the treatment of wide-neck, intracranial aneurysms.

In May-2018, MicroVention, Inc., a U.S.-based subsidiary of Terumo received FDA Premarket Approval (PMA) for the LVIS and LVIS Jr. stents for stent-assisted coil embolization of intracranial aneurysms. The LVIS and LVIS Jr. stents are the first and only stents PMA approved for stent-assisted coil embolization and only the second PMA approved device designed for intracranial aneurysm treatment.

In May-2019, Stryker has received premarket approval for Neuroform Atlas Stent System from US FDA. Neuroform Atlas Stent System consists of Target XL Detachable Coil for the treatment of wide-neck, intracranial aneurysms.

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