Peripheral Embolization Coils Market: A Strategic Overview

According to our latest study on "Peripheral Embolization Coils Market Forecast to 2031 – Global Analysis – Type, Material, Application, and Geography," the market was valued at US$ 433.06 million in 2023 and is expected to reach US$ 613.96 million by 2031. It is estimated to register a CAGR of 4.5% from 2023 to 2031. A rise in the prevalence of aortic aneurysm and an increase in the incidence of cancer are the key factors driving the market. However, complications arising during or after embolization hamper the market growth.

Rise in Prevalence of Aortic Aneurysm Drives Peripheral Embolization Coils Market Growth

Smokers and women had greater rates of aneurysmal rupture. Currently, there are no effective medications to prevent the development of aortic aneurysms; the only treatment options are surgical or endovascular repair. Embolization agents are frequently used as substitutes for open surgeries, which are riskier and followed by longer recovery periods. Peripheral vascular embolization coils, cyanoacrylate or fibrin glue, gel foam, and Onyx are among the embolic devices that are commonly used to treat endoleaks from aortic aneurysms. Coiling is a suitable therapy option for peripheral aneurysms since it is less invasive than open surgical repair. Coils can also be used in elective settings to treat some congenital cardiac diseases, fistulas, aneurysms, and arterial side branch steal syndrome after coronary artery bypass grafting. Therefore, an upsurge in the prevalence of aortic aneurysms drives the growth of the peripheral embolization coils market.

Peripheral Embolization Coils Market: Regional Overview

Based on region, the peripheral embolization coils market is segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2023, North America held the largest market share. An upsurge in the prevalence of colorectal cancer and trauma is a prime factor propelling market growth in this region. Colorectal cancer is the fourth most prevalent cancer in Mexico, with most cases reported after the age of 50, with a comparable distribution of cases in both genders. As a result, the number of new cases and rate of mortality have steadily climbed alongside the rising life expectancy.

The peripheral embolization coils market in Asia Pacific is expected to register the highest CAGR during the forecast period. Market growth in this region is ascribed to the continuously advancing healthcare infrastructure, and the significant incidence of abdominal aortic aneurysms, acute gastrointestinal bleeding (AGIB), and tumors in different European countries. According to an article published in BMC Public Health in April 2022, the disease burden of aortic aneurysms in China increased dramatically from 1990 to 2020, with greater mortality rates among men, elderly populations, and residents of western provinces. Varicose veins, a common condition, affect 30% of the Indian population, particularly women. Conditions can develop over time, resulting in complications such as bleeding, clotting, and ulceration that impact the quality of life of patients. Patients with varicose veins are highly susceptible to developing deep vein thrombosis because venous stasis and damage often result in superficial phlebitis, which can spread through perforating arteries and enter the deep venous system.

Peripheral Embolization Coils Market: Competitive Landscape and Key Developments

The peripheral embolization coils market report emphasizes prominent players operating in the market; these include Medtronic Plc, Penumbra Inc., Balt, Boston Scientific Corp, Cook Medical Holdings LLC, Wallaby Medical, Spartan Micro Inc., ZYLOX-TONBRIDGE MEDICAL TECHNOLOGY CO LTD., Terumo Corp, NeuroSafe Medical Co. Ltd. Market players focus on expanding and diversifying their businesses, and acquiring novel customer bases, which allows them to explore attractive business opportunities prevailing in the peripheral embolization coils market. As per company press releases, a few recent developments are as follows:

• In January 2024, Zylox-Tonbridge Medical Technology Co., Ltd. received marketing approval for its ZYLOX Phoenix Peripheral Detachable Fibered Coil Embolization System from the National Medical Products Administration (NMPA). ZYLOX Phoenix is a proprietary medical device independently developed by the company for the minimally invasive interventional treatment of peripheral arterial embolism.

• In June 2022, Balt has opened a second office in France, this one in Paris central. The Paris office will house members of the sales, marketing, clinical affairs, finance, IT, legal, HR and communication teams.

• In April 2022, Boston Scientific Corporation received US 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.

• In April 2022, Wallaby Medical announced the acquisition of phenox GmbH—including femtos GmbH (femtos), a Germany-based global innovation and technology leader in the neurovascular space. The acquisition has been one of the world’s largest cross-border transactions in the medical device industry in recent years.

• In December 2021, Wallaby Medical with Japan Lifeline Co. Ltd., a publicly-listed medical device manufacturer and distributor with 48 sales offices across Japan, to bring Wallaby's Japan PMDA approved Avenir Coil System to the Japanese market. Avenir is used in the intravascular embolization of intracranial aneurysms and other neurovascular malformations (such as arteriovenous malformations and arteriovenous fistulas), as well as arterial and venous embolization of peripheral blood vessels.

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