About Neuroendovascular Coils
Neuroendovascular coils are platinum coils that are used for treating cerebral aneurysm. These coils close off the sac and reduces the risk of rupturing or re-bleeding. There are two types of neuroendovascular coils available in the market that includes GDC or bare platinum coil and matrix coil or coated bioactive coil. Neuroendovascular coiling or embolization is relatively a new treatment for brain aneurysm. This procedure has gained rapid popularity and become an alternative to open surgical clipping. This procedure is effective not only in aneurysm that are difficult to access surgically, but also in uncomplicated aneurysm.
Technavio’s analysts forecast the global neuroendovascular coils market to grow at a CAGR of 8.38% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global neuroendovascular coils market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Neuroendovascular Coils Market 2017-2021
Technavio recognizes the following companies as the key players in the global neuroendovascular coils market: DePuy Synthes, Medtronic, Penumbra, Stryker, and TERUMO.
Other Prominent Vendors in the market are: BALT EXTRUSION, Cook Medical, and EndoShape.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing adoption of flow diversion stents. Flow-diverting stents (FDS) is a new technology that acts as substitute to coiling for treating anatomically challenging intracranial aneurysms, such as giant, wide-necked, or fusiform aneurysms. The recurrence rate of wide-necked and giant aneurysms is high if treated with bare platinum coils. The stent-assisted coils and balloon-assisted coils are used as alternatives to treat such complex aneurysms. However, these have not shown adequate clinical evidence of improvement in treatment outcomes.”
According to the report, one of the major drivers for this market is Rise in neuroendovascular coiling procedures. The number of neuroendovascular coiling procedure is growing rapidly. Since, the last two decades, the adoption of neuroendovascular coiling for cerebral aneurysm treatment has increased significantly in developed and developing countries. In 2005, neuroendovascular coiling procedures accounted for nearly 30% of cerebral aneurysm treatments. In 2016, it increased to approximately 65% in developed markets of the US and Europe.
Further, the report states that one of the major factors hindering the growth of this market is High cost of neuroendovascular coils and coiling procedures. The cost of the coils and price associated with the neuroendovascular coiling procedure is very high. This makes it difficult to afford for people in lower and middle-income countries. In the US, the median cost of neuroendovascular coiling procedure is approximately $36,000. The median hospitalization costs for coiled patients with complications or comorbidities ranges between $55,000 to $85,000, based on the severity. The price of detachable coils ranges between $500 to $3,000 based on the coil thickness, length, and additional features included.
DePuy Synthes, Medtronic, Penumbra, Stryker, TERUMO, BALT EXTRUSION, Cook Medical, and EndoShape.
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