At 4.8% CAGR, North America Peripheral Embolization Coils Market is Projected to be Worth US$ 360.53 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the North America peripheral embolization coils market was valued at US$ 247.86 million in 2023 and is expected to reach US$ 360.53 million by 2031, registering a CAGR of 4.8% from 2023 to 2031. Growing importance of packing density and expanding range of applications of embolization coils are among the critical factors attributed to drive the North America peripheral embolization coils market growth.
Coil manufacturers understand the importance of packing density and have started implementing numerous ways to help accomplish it. Focusing specifically on packing density allows manufacturers to limit thrombus development and, presumably, the danger of recanalization. Packing density, determined more by the volume of coils than the volume of the thrombus, is the number of coils required to cause an occlusion. Bare-metal coils such as the Ruby coils and Prestige Plus peripheral coil systems are softer than fibered coils, resulting in a high packing density within the target vascular space. The use of hydrogel in coil design and production is another technique that is employed to increase packing density. The hydrogel layered on the coil surface is a bioactive polymer that swells when in contact with blood, increasing the coils' filling volume after deployment in the target vessel. This volume provided by hydrogel presents a greater proportion of the blockage made by metal coil loops and hydrogel rather than thrombus, which has been linked to lower rates of vascular recanalization. Thus, the surging importance of packaging density likely emerges as a significant growth trend in the peripheral embolization coils market in the future.
On the contrary, the complications arising during or after embolization hamper the growth of North America peripheral embolization coils market.
Based on type, the North America peripheral embolization coils market is bifurcated into detachable coil and pushable coil. The detachable coil segment held 69.9% market share in 2023, amassing US$ 28.76 million. It is projected to garner US$ 39.99 million by 2031 to register 4.2% CAGR during 2023-2031.
In terms of material, the North America peripheral embolization coils market is categorized into platinum, platinum & hydrogel, and platinum tungsten alloy. The platinum segment held 49.0% share of North America peripheral embolization coils market in 2023, amassing US$ 20.18 million. It is projected to garner US$ 28.76 million by 2031 to register 4.5% CAGR during 2023-2031
By application, the North America peripheral embolization coils market is segmented into bleedings & trauma, malformations, tumours, visceral aneurysm, endoleak type II, and varicose veins. The bleedings & trauma segment held 37.7% share of North America peripheral embolization coils market in 2023, amassing US$ 15.50 million. It is projected to garner US$ 22.26 million by 2031 to expand at 4.6% CAGR from 2023 to 2031.
Based on country, the North America peripheral embolization coils market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.4% share of North America peripheral embolization coils market in 2023. It was assessed at US$ 206.71 million in 2023 and is likely to hit US$ 303.73 million by 2031, registering a CAGR of 4.9% during 2023-2031.
Key players operating in the North America peripheral embolization coils market are Medtronic Plc; Penumbra, Inc.; Balt; Boston Scientific Corp; Cook Medical Holdings LLC; Wallaby Medical; Spartan Micro Inc.; and Terumo Corp., among others.
- In April 2022, Boston Scientific Corporation has received U.S. Food and Drug Administration (FDA) 510(k) clearance for the EMBOLD Fibered Detachable Coil, which is indicated to obstruct or reduce the rate of blood flow in the peripheral vasculature. The first procedure using the device was performed this week at the University of Alabama at Birmingham.
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