South America Micro Coils Market
SAM region for the estimating the market for the micro coil consist of countries such as Brazil, Argentina, and rest of SAM. The region held smallest portion of the market in the global analysis. The market is likely to propel in the forecasted period owing to the increasing medical tourism and maximum use of the endovascular therapy. The Brazil lead the market during forecast period. As per the World Health Organization, Brazil has the best healthcare system in South America and it ranks among the top countries, across the globe. This has increased the health tourism in this country that has seen a major boom in the last few years. Brazil has always been an attractive international destination and it is world famous for its beautiful people. The rising economy of the country makes the major investments in its infrastructure and tourism, Brazilian authorities are working in the transformation and reinforcement of the country’s image by turning it into a major tourism destination. The advancement in the healthcare has boosted the utilization of the endovascular treatments and demand has grown for the endovascular products. In Brazil, joint effort from the Brazilian Stroke Society, the Scientific Department of Cerebrovascular Diseases of the Brazilian Academy of Neurology, the Brazilian Stroke Network and the Brazilian Society of Diagnostic and Therapeutic Neuroradiology has offered standard guidelines. These guidelines focus on the implications of the recent clinical trials on endovascular therapy for acute ischemic stroke. Thus, owing to the above-mentioned factors the SAM market for the Micro Coils are likely to increase in the coming future.
In case of COVID-19, SAM is highly affected, especially Brazil. Countries in Brazil, and Argentina are among the top destinations in the world for surgical procedures owing to the relatively low cost of treatments as compared to the US. The outbreak of COVID–19 have severely impacted the flow of medical services in the region. In addition, the countries are popular for medical tourism, which is also affected by the pandemic. Brazil, Argentina, Peru, Chile, Uruguay, Colombia are affected by the second wave of corona infection. Among which Brazil has registered majority of the deaths. It is expected that the region is likely to impose second restrictions, which is expected to hamper the healthcare industry in the region. Moreover, countries are significantly dependable on the US and European countries for their medical resources. However, the evolving treatment procedures and vaccination drives for the COVID19 in the region is expected to bring some positive impact on the market in the region owing to the people are opting for their routine treatments and procedures.
Strategic insights for the South America 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$ 37.22 Million |
| Market Size by 2028 | US$ 49.40 Million |
| Global CAGR (2021 - 2028) | 4.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America 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 SAM micro coils market is expected to grow from US$ 37.22 million in 2021 to US$ 49.40 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2021 to 2028. Extended functionalities and technologies incorporated in new devices are expected to rise in demand for micro coils across the region. In December 2020, Terumo Corporation announced a launch of WEB Embolization System. According to the company, WEB is the first intrasaccular flow disruptor device available in the market. The device is specially designed for the treatment of brain aneurysm. Moreover, in December 2019, Kaneka Corporation launched an advanced micro coil for embolization of brain aneurysms. According to the company, the coils archive highest level of flexibility in the region. Such product introductions are estimated to offer a lucrative opportunity for SAM market growth. Some of the market players are focusing on conducting awareness programs to spread information about benefits of micro coils. Such programs are also expected to offer a favorable environment for the product demand, which will eventually drive the SAM market growth.
In terms of type, the pushable coils segment accounted for the largest share of the SAM micro coils market in 2020. In terms of material, the platinum segment held a larger market share of the SAM micro coils market in 2020. In terms of application, the others segment held a larger market share of the SAM micro coils market in 2020. Further, the hospitals segment held a larger share of the SAM micro coils market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the SAM 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 South America Micro Coils Market is valued at US$ 37.22 Million in 2021, it is projected to reach US$ 49.40 Million by 2028.
As per our report South America Micro Coils Market, the market size is valued at US$ 37.22 Million in 2021, projecting it to reach US$ 49.40 Million by 2028. This translates to a CAGR of approximately 4.1% during the forecast period.
The South America 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 South America Micro Coils Market report:
The South America Micro Coils Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Micro Coils Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Micro Coils Market value chain can benefit from the information contained in a comprehensive market report.
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