Asia Pacific Micro Coils Market
APAC region includes countries such as India, China, Japan, Australia, South Korea, and Rest of APAC. Among the countries China accounts the largest market share in the region. The factors such as rising prevalence of the brain stroke, coronary artery diseases, heart diseases and advancement in the healthcare industry. China is the largest market in APAC region. China is among the countries who bears the biggest cardiovascular diseases (CVD) burden in the world, the burden of mortality due to CVD has increased in past decade. The data published in a report by the National Center for Cardiovascular Diseases of China states that in two in five deaths in China are attributed to CVD. CVD remained the leading cause of death in 2016, accounting for 45.50% and 43.16% of all deaths in rural and urban areas, respectively. Further, from 2009 onwards, the CVD mortality rate in rural areas exceeded that in urban areas, and in 2016, the rate was 309.33 per 100,000 people in rural areas and 265.11 per 100,000 people in urban areas. This is expected to raise the demand for micro coil related medical devices and support the market growth. Growth in the number of product approvals and launches and burgeoning demand for minimally invasive procedures are the major factor driving the growth of the APAC micro coils market.
In case of COVID-19, APAC is highly affected specially India. Countries in APAC are expecting to witness huge challenge due to growing COVID-19. Considering the economic operations and geographic condition, the outbreak of disease has affected on medical tourism, manufacturer of medical equipment, accessories and other due to problems posed by shortage of healthcare infrastructure in APAC low-income countries. After the first case in December 2019, in Wuhan, China, the coronavirus has spread to at least 180 countries and regions. To prevent the spread of disease, restrictive measures have been taken in countries such as India, South Korea, Singapore, Malaysia, and by the Philippines. According to WHO, due to the rapidly changing risk of COVID-19 affected countries and constantly controlling outbreak trends, any additional health measures are likely to significantly interfere with international travel and trade. Countries such as Japan and Australia are conducting virtual international conferences to anticipate the impact of COVID-19 on medical devices related industry in the APAC. China is specifically facing issues with the pandemic, leading to disruption of the supply chain, projected losses in revenue, marketing, and sales within all industries, especially the medical device industry, as well as the concerns of health within the production units and other public places. However, the countries such as India is conducting vaccination drive for the age group wise including the people within age group of 18 to 44, and 45 years and above. The country has also initiated testing of vaccine of the children which is expected to have and positive impact on the market.
Strategic insights for the Asia Pacific Micro Coils provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 110.06 Million |
| Market Size by 2028 | US$ 160.29 Million |
| Global CAGR (2021 - 2028) | 5.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Micro Coils refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The APAC micro coils market is expected to grow from US$ 110.06 million in 2021 to US$ 160.29 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028. Mounting prevalence of cardiac aneurysm is expected to surge the market growth. Cardiovascular diseases (CVDs) are likely to remain the major cause of morbidity and mortality across the region. 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 region. According to the World Health Organization (WHO), CVDs are number one cause of death across the region. The cardiac aneurysm is majorly caused due to the blockages in the aortic artery. The blockages can also be seen in chest or the abdomen. The prevalence of the cardiac aneurysm is growing across the region. In addition, more than 2 million people are diagnosed with an abdominal aortic aneurysm in the APAC region each year. High prevalence of CVDs across the world prominently boosts the number of heart procedures. The factor ultimately drives the growth of the APAC micro coils market.
In terms of type, the pushable coils segment accounted for the largest share of the APAC micro coils market in 2020. In terms of material, the platinum segment held a larger market share of the APAC micro coils market in 2020. In terms of application, the others segment held a larger market share of the APAC micro coils market in 2020. Further, the hospitals segment held a larger share of the APAC micro coils market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the APAC micro coils market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Boston Scientific Corporation; Cook Medical LLC; Johnson and Johnson Medical Devices (Depuy Synthes); KANEKA CORPORATION; Medtronic; Penumbra, Inc.; Stryker Corporation; and Terumo Corporation.
The Asia Pacific Micro Coils Market is valued at US$ 110.06 Million in 2021, it is projected to reach US$ 160.29 Million by 2028.
As per our report Asia Pacific Micro Coils Market, the market size is valued at US$ 110.06 Million in 2021, projecting it to reach US$ 160.29 Million by 2028. This translates to a CAGR of approximately 5.5% during the forecast period.
The Asia Pacific Micro Coils Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Micro Coils Market report:
The Asia Pacific Micro Coils Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Micro Coils Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Micro Coils Market value chain can benefit from the information contained in a comprehensive market report.
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