Europe Micro Coils Market is expected to reach US$ 248.96 Mn by 2028

Platinum Segment to Dominate Europe Micro Coils Market During 2021–2028

According to a new market research study on “Europe 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$ 248.96 million by 2028 from US$ 175.96 million in 2021. The market is estimated to grow at a CAGR of 5.1% from 2021 to 2028. The report provides trends prevailing in the Europe micro coils market along with the drivers and restraints pertaining to the market growth. Increasing Incidence of neurovascular diseases and surging prevalence of cardiac aneurysm are the major factor driving the growth of the Europe micro coils market. However, expensive embolization micro coils hinders the growth of Europe micro coils market.

In case of COVID-19, Europe is highly affected specially Spain. The COVID–19 pandemic has shown a significant negative impact on the global as well as on European health economies. Health services in European region is highly prioritized to serve for patients affected by COVID-19. The routine health care services have remained suspended. Therefore, it has affected the Micro Coil related market and its dependable revenue generation in the region. Europe has long been within an area of dynamic development in the field of surgical procedures. In the recent times, these changes have been even more significant and rapid. The countries in the Europe has developed a strong line of actions to handle the COVID 19 situations which has a positive impact on the healthcare system, there has been rise of the COVID19 cases in the recent times owing to the various COVID19 strains. For instance, in March 2020, the European Medicines Agency established a managing committee to deal with the impact of COVID-19 on the supply chain of medicines and devices. Furthermore, once the COVID-19 pandemic subsides there may be constraints in the capacities and financial resources of hospitals and other healthcare providers to perform elective surgeries procedures that had been deferred due to COVID-19, which could have an adverse effect on demand for micro coil based medical device products and is likely to hamper the growth of the market .European countries have undergone second phase of lockdown as they have experienced second wave of COVID infection. Countries such as the UK, Belgium, Germany, Switzerland, France, Italy, and Spain are highly affected. Therefore, the lockdown has widely affected the flow of businesses across the region and outside the region. Various conferences related to industry are being conducted through webinars. Hence, it is expected that negative impact on the market is likely to continues in the following few years.

The Europe 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 Europe 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 Europe 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 Europe 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 Europe 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 Europe 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 2018, Johnson and Johnson Medical Devices has launched Galaxy G3 mini embolic coil to remove clots from the brain following ischemic stroke. The Galaxy G3 Mini coils are designed to be approximately 25% softer than the Galaxy G3 xsft coils, with an ultra-low coil profile and a primary wind diameter of 0.009 inches.

The Report Segments the Europe Micro Coils Market as Follows:

Europe Micro Coils Market – By Type

• Detachable Coils
• Pushable Coils

Europe Micro Coils Market – By Material

• Platinum
• Platinum Tungsten Alloy
• Platinum & Hydrogel

Europe Micro Coils Market – By Application

• Oncology
• Urology
• Others

Europe Micro Coils Market – By End User

• Hospitals
• Ambulatory Surgical Centers  
• Others

Europe Micro Coils Market – By Country

• Germany
• UK
• France
• Italy
• Spain      
• Rest of Europe