Middle East and Africa Micro Coils Market
Among the countries included in the Middle East & Africa region, South Africa held the largest market share in 2020 followed by Saudi Arabia and UAE. South Africa is also estimated to be the fastest growing country in the region. The healthcare expenditure made by South Africa is expected to grow at a rate of around 8.5%. There is a lack of renal registries in majority of countries in Africa which means that there are no reliable statistics about the prevalence of chronic kidney disease and end stage renal disease in the majority of African countries. Chronic kidney diseases are however estimated to affect as much as 15% of the South African population. In South Africa, steady but positive growth in healthcare industry has led to an increase in the availability of diagnostic and treatment services. Speedy increase in the number of healthcare programs. Thus, owing to these factors the MEA micro coil market is likely to propel in the forecast period. The micro coils market has been substantially growing over the past few years in the MEA region. Owing to such factors such as increasing use for uterine artery embolization, increasing number of cardiovascular diseases and advancement in the vascular disease’s treatment in the region.
In case of COVID-19, MEA is highly affected especially Saudi Arabia. Countries in Middle East have also widely affected the socio-economic condition by the COVID–19 pandemic. However, the countries have wisely reacted to the COVID–19 pandemic to avoid the spread of infection. Similar to other regions, lockdown and social distancing were imposed, which has impaired these trends hindering access to work, regular income, payments, fairs, schools, and healthcare. Therefore, it is expected the countries have undergone huge losses and are still trying to recover them. The lockdown has widely affected the non-emergency medical services in the region, which has somehow affected the medical devices sector. Countries like Saudi Arabia and UAE are emerging as healthcare destinations in the regions. However, they are dependent on the countries for the resources. In South Africa, government agencies like South African Health Products Regulatory Authority has put in place a series of initiatives aimed at minimizing the potential negative impact of the pandemic on the availability of medicines and medical devices in South Africa. Furthermore, the availability of the vaccines and other healthcare facilities in the developing countries in the region is expected to provide scope for the market players in micro coil market for few years.
Strategic insights for the Middle East and Africa 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$ 24.75 Million |
| Market Size by 2028 | US$ 31.90 Million |
| Global CAGR (2021 - 2028) | 3.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa 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 MEA micro coils market is expected to grow from US$ 24.75 million in 2021 to US$ 31.90 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021 to 2028. Mounting incidence of neurovascular diseases is expected to catalyze the market growth. The neurovascular system is highly dependent on arteries and veins that supply of oxygen and nutrients. The supply of oxygen and nutrients to the brain is essential for its working; therefore, any defect in the system can impair the function and it may lead to a life-threatening disease. A few common neurovascular conditions are ischemic stroke, hemorrhage stroke, brain aneurysm, vascular malformation, and brain tumors. During recent years, the prevalence of neurological disorders has increased significantly. For instance, thousands of people in the MEA region suffer from brain aneurysm rupture every year. A brain aneurysm ruptures every 18 minutes. Thus, the rising prevalence of cerebral aneurysms fuels the growth of the MEA micro coils market.
In terms of type, the pushable coils segment accounted for the largest share of the MEA micro coils market in 2020. In terms of material, the platinum segment held a larger market share of the MEA micro coils market in 2020. In terms of application, the others segment held a larger market share of the MEA micro coils market in 2020. Further, the hospitals segment held a larger share of the MEA micro coils market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the MEA 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, Stryker Corporation, and Terumo Corporation.
The Middle East and Africa Micro Coils Market is valued at US$ 24.75 Million in 2021, it is projected to reach US$ 31.90 Million by 2028.
As per our report Middle East and Africa Micro Coils Market, the market size is valued at US$ 24.75 Million in 2021, projecting it to reach US$ 31.90 Million by 2028. This translates to a CAGR of approximately 3.7% during the forecast period.
The Middle East and Africa 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 Middle East and Africa Micro Coils Market report:
The Middle East and Africa Micro Coils Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Micro Coils Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Micro Coils Market value chain can benefit from the information contained in a comprehensive market report.
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