Asia Pacific Micro Coils Market is expected to reach US$ 160.29 Mn by 2028

Others Segment to Dominate APAC Micro Coils Market During 2021–2028

According to a new market research study on “APAC Micro Coils Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Material, Application, and End User” is expected to reach US$ 160.29 million by 2028 from US$ 110.06 million in 2021. The market is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The report provides trends prevailing in the APAC micro coils market along with the drivers and restraints pertaining to the market growth. Growth in the number of product approvals and launches and burgeoning demand for minimally invasive procedures are the major factor driving the growth of the APAC micro coils market. However, overpriced embolization micro coils hinders the growth of APAC micro coils market.

In case of COVID-19, APAC is highly affected specially India. Countries in APAC are expecting to witness huge challenge due to growing COVID-19. Considering the economic operations and geographic condition, the outbreak of disease has affected on medical tourism, manufacturer of medical equipment, accessories and other due to problems posed by shortage of healthcare infrastructure in APAC low-income countries. After the first case in December 2019, in Wuhan, China, the coronavirus has spread to at least 180 countries and regions. To prevent the spread of disease, restrictive measures have been taken in countries such as India, South Korea, Singapore, Malaysia, and by the Philippines. According to WHO, due to the rapidly changing risk of COVID-19 affected countries and constantly controlling outbreak trends, any additional health measures are likely to significantly interfere with international travel and trade. Countries such as Japan and Australia are conducting virtual international conferences to anticipate the impact of COVID-19 on medical devices related industry in the APAC. China is specifically facing issues with the pandemic, leading to disruption of the supply chain, projected losses in revenue, marketing, and sales within all industries, especially the medical device industry, as well as the concerns of health within the production units and other public places. However, the countries such as India is conducting vaccination drive for the age group wise including the people within age group of 18 to 44, and 45 years and above. The country has also initiated testing of vaccine of the children which is expected to have and positive impact on the market.

The APAC micro coils market is segmented into the type, material, application, end user, and country. The market based on type is segmented into detachable coils and pushable coils. The pushable coils segment dominated the APAC micro coils market in 2020 and is also expected to be fastest growing during forecast period. The market based on material is segmented into platinum, platinum tungsten alloy, and platinum & hydrogel. The platinum segment dominated the APAC micro coils market in 2020 and is also expected to be fastest growing during forecast period. The market based on application is segmented into oncology, urology, and others. The others segment dominated the APAC micro coils market in 2020 and is also expected to be fastest growing during forecast period. The market based on end user is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment dominated the APAC micro coils market in 2020 and is also expected to be fastest growing during forecast period.

Boston Scientific Corporation; Cook Medical LLC; Johnson and Johnson Medical Devices (Depuy Synthes); KANEKA CORPORATION; Medtronic; Penumbra, Inc.; Stryker Corporation; and Terumo Corporation are among the leading companies in the APAC micro coils market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Kaneka Corporation has received United States' Food and Drug Administration approval for new micro coil i-ED Coil used in treatment of embolization of brain aneurysms. Kaneka plans to also expand the sales area to Europe and Asia and is aiming for 10 billion yen in sales of i-ED Coil by 2023. 

The Report Segments the APAC Micro Coils Market as Follows:

APAC Micro Coils Market – By Type

• Detachable Coils
• Pushable Coils

APAC Micro Coils Market – By Material

• Platinum
• Platinum Tungsten Alloy
• Platinum & Hydrogel

APAC Micro Coils Market – By Application

• Oncology
• Urology
• Others

APAC Micro Coils Market – By End User

• Hospitals
• Ambulatory Surgical Centers  
• Others

APAC Micro Coils Market – By Country

• China
• Japan
• India
• South Korea  
• Australia
• Rest of APAC