High Incidence of Brain Aneurysms results in the Growing Demand for Neuroendovascular Coil Market

Neuroendovascular coiling is performed to prevent the blood flow in an aneurysm. An aneurysm is the excessive enlargement of blood vessels lead to a weakness of the blood vessel wall. This helps by sealing the aneurysm, promoting blood clotting around the coils and reducing pressure on its outer wall. The endovascular coiling treatment is usually performed under general anesthesia by a neurosurgeon or an interventional neuroradiologist using fluoroscopic imaging guidance. The coil is left behind and placed permanently in the aneurysm. Coiling is performed for both the ruptured aneurysms and unruptured aneurysms. Neuroendovascular coils are used as an alternative effective treatment to surgical clipping in an aneurysm. This neuroendovascular coiling helps in the prevention of subarachnoid hemorrhage, which leads to stroke, severe complications and even death. A number of factors can contribute for developing an aneurysm and weakness in an artery wall such as old age, smoking, high blood pressure, drug abuse, head injuries, heavy alcohol consumption, certain blood infection, low estrogen level and many other factors. Diagnosis of the ruptured aneurysms can be done by the computed tomography (CT) scan after the signs of the subarachnoid hemorrhage. If computed tomography scan shows negative signs then a lumbar puncture can be performed to detect blood in the cerebrospinal fluid to confirm an aneurysm. The computed tomography angiography (CTA) is also widely performed to detect and analyzed the aneurysm.

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Global neuroendovascular coiling market has been segmented by product type, indication, end user, and geography. In term of product type, the market has been categorized into Guglielmi Detachable Coils (GDC) and Matrix coils. Guglielmi detachable coil is made of the platinum. Matrix coils are of two types biopolymer coated and hydrogel coated. Matrix coils are highly demanded and are more effective than guglielmi detachable coils. Based on the indication global neuroendovascular coil market is segmented in ruptured aneurysms and unruptured aneurysms. End user for the neuroendovascular coils includes hospitals, stroke center and ambulatory surgical centers. Hospitals are further sub- segmented into 500 plus beds hospitals, 250 to 499 beds hospitals and less than 250 beds hospitals.

Geographically, the Neuroendovascular Coil market has been segmented into five regional markets, namely, North America (United States and Canada), Europe (Germany, France, United Kingdom, etc.), Asia-Pacific (Australia, China, Japan, India, etc.), Latin America (Mexico, Brazil etc.) and Middle East and Africa (Saudi Arabia, UAE, South Africa etc.). North America was observed as the largest market, in terms of revenue for neuroendovascular coil. North America was followed by Europe and is expected to register higher growth. Emerging markets such as Asia Pacific, Latin America and the Middle East and Africa are expected to record robust growth during the forecast period 2016-2024 due to growing health care industry, and aging population which consequently would lead to increased patient population in these countries. India, China, and Brazil are expected to drive strong growth among the emerging countries, owing to increasing investments by government bodies in order to enhance healthcare facilities.

In addition, there are number of factors that would affect the growth of the neuroendovascular coil market such as, high incidence of brain aneurysms, technological advancement, increase in the number of stroke patients and awareness about health in developing countries. The market is also experiencing certain restraints, such as, risk of complication in neurovascular procedures, stiff competition among existing neuroendovascular coil manufacturers, subsequent upswing in bulk purchasing through GPOs (Group Purchasing Organizations) and government regulations for reduction of overall healthcare cost.

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The major players operating in the neuroendovascular coil market include Medtronic, Stryker, Cardinal Health, Penumbra, Inc., Johnson & Johnson Services, Inc., Boston Scientific, Cook Medical Inc., and Terumo Corporation.

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