At 5.0% CAGR, Asia Pacific Peripheral Embolization Coils Market is Projected to be Worth US$ 204.52 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific peripheral embolization coils market was valued at US$ 138.45 million in 2023 and is expected to reach US$ 204.52 million by 2031, registering a CAGR of 5.0% from 2023 to 2031. Increase in incidence of cancer and growing importance of packing density are among the critical factors attributed to drive the Asia Pacific peripheral embolization coils market growth.

Colorectal, prostate, lung, and cervical cancer are the most common types of cancer. According to the World Health Organization (WHO), ~20 million new cancer cases and 9.7 million cancer-related fatalities were reported in 2022. Moreover, approximately 53 million cancer patients exhibited a five-year survival rate after diagnosis. Nearly 1 in 5 people develop cancer in their lifetime; 1 in 9 men and 1 in 12 women die due to cancer. According to the same source, new cancer cases are estimated to reach the count of ~35 million by 2050, with a 77% increase from the number of cases reported in 2022. The coil embolization technique is widely used to treat patients suffering from lung cancer, liver cancer, neuroendocrine tumors, renal cancer, and cervical cancer, as the embolization coil blocks or stops the flow of blood to a tumor or tissue abnormality. Both detachable and pushable embolizing coils can be used to fill or close blood vessels. The pushable coils are mechanical embolic agents used in arteries and veins for various indications, including controlling bleeding, occluding vascular lesions such as aneurysms and arteriovenous fistulas, and redistributing blood flow to protect non-target vessels. Embolization with coils helps prevent the growth of aneurysms and tumors, thus mitigating their ability to harm essential organs. Thus, the rising prevalence of cancer cases creates a high demand for peripheral embolization coils.

On the contrary, the complications arising during or after embolization hamper the growth of Asia Pacific peripheral embolization coils market.

Based on type, the Asia Pacific peripheral embolization coils market is bifurcated into detachable coil and pushable coil. The detachable coil segment held 69.9% market share in 2023, amassing US$ 96.73 million. It is projected to garner US$ 143.83 million by 2031 to register 5.1% CAGR during 2023-2031.

In terms of material, the Asia Pacific peripheral embolization coils market is categorized into platinum, platinum & hydrogel, and platinum tungsten alloy. The platinum segment held 48.7% share of Asia Pacific peripheral embolization coils market in 2023, amassing US$ 67.46 million. It is projected to garner US$ 102.92 million by 2031 to register 5.4% CAGR during 2023-2031

By application, the Asia Pacific peripheral embolization coils market is segmented into bleedings & trauma, malformations, tumours, visceral aneurysm, endoleak type II, and varicose veins. The bleedings & trauma segment held 37.4% share of Asia Pacific peripheral embolization coils market in 2023, amassing US$ 51.81 million. It is projected to garner US$ 79.66 million by 2031 to expand at 5.5% CAGR from 2023 to 2031.

Based on country, the Asia Pacific peripheral embolization coils market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 27.4% share of Asia Pacific peripheral embolization coils market in 2023. It was assessed at US$ 37.90 million in 2023 and is likely to hit US$ 57.82 million by 2031, registering a CAGR of 5.4% during 2023-2031.

Key players operating in the Asia Pacific peripheral embolization coils market are 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; and NeuroSafe Medical Co. Ltd., among others.

- In December 2021, Wallaby Medical partnered 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.

- In April 2022, The Avenir Plus Coil System, an important addition to the Avenir Coil System, independently developed by Wallaby Medical Holding, Inc. was recently approved by the National Medical Products Administration (NMPA) to be marketed in China. The objective in the endovascular treatment of aneurysms with embolic coils is to safely and efficiently achieve a dense packing of the aneurysm, effectively isolating it from blood flow, and risk of future rupture or re-rupture. Smaller softer coils, such as those included in the new Avenir Plus Coil System, aim to assist physicians in achieving such dense packing.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com