Report : Middle East & Africa Embolization Coils Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Detachable Coil and Pushable Coil), By Material (Platinum, Platinum & Hydrogel, and Platinum Tungsten Alloy), By Application (Neurology, Cardiology, Urology, Oncology, Peripheral Vascular Disease, and Others), and End User (Hospital, Cardiac Center, Ambulatory Center, and Other)
At 2.9% CAGR, the Middle East & Africa Embolization Coils Market is speculated to be worth US$ 52.36 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa embolization coils market was valued at US$ 44.11 million in 2022 and is expected to reach US$ 52.36 million by 2028, registering a CAGR of 2.9% from 2022 to 2028. Rise in occurrence of cardiac aneurysm and increase in prevalence of cancer cases are the critical factors attributed to the Middle East & Africa embolization coils market expansion.
The increasing implementation of embolization coils in the embolotherapy for the treatment of endovascular disease, traumatic injuries, cerebrovascular malformation, venous malformation, arteriovenous malformation, and pediatric vascular conditions is expected to offer an opportunity for the embolization coils market revenue growth in the coming years. Embolization is a minimally invasive procedure to treat an aneurysm by packing it with material that closes the injured place and decreases the risk of bleeding. Embolization is performed within the artery (endovascular) through a steerable catheter inserted into the bloodstream and guided to the brain. Further, post-traumatic bleeding embolization is performed to stop bleeding caused by traumatic injuries. The method uses materials to block the affected vessel and stops blood flow. According to a Traumatic Brain Registry Surveillance Report 2021, a traumatic brain injury (TBI) is a disruption in a normal function of the brain that can be caused by a bump, blow, or jolt to the head or a penetrating head injury. Further, it has also been stated that TBIs are a major cause of death and disability, making these injuries a significant public health problem across the US. In Tennessee, ~24,382 TBI-related ED visits, hospitalizations, and deaths occurred during 2019. Thus, the rising adoption of embolization coils in various applications further increases the demand for embolization coils and supportive devices. Therefore, the growing adoption of embolization coils in embolotherapy is expected to boost the market growth opportunities in the upcoming forecast period. This is expected to drive the Middle East & Africa embolization coils market during the forecast period.
On the contrary, high amount of embolization coils hurdles the growth of Middle East & Africa embolization coils market.
Based on type, the Middle East & Africa embolization coils market is bifurcated into detachable coil and pushable coil. The detachable coil segment held 56.8% market share in 2022, amassing US$ 25.05 million. It is projected to garner US$ 30.33 million by 2028 to expand at 3.2% CAGR during 2022–2028.
Based on material, the Middle East & Africa embolization coils market is categorized into platinum, platinum & hydrogel, and platinum tungsten alloy. The platinum segment held 44.1% market share in 2022, amassing US$ 19.45 million. It is projected to garner US$ 23.71 million by 2028 to expand at 3.4% CAGR during 2022–2028.
Based on application, the Middle East & Africa embolization coils market is categorized into neurology, cardiology, urology, oncology, peripheral vascular disease, and others. The neurology segment held 27.7%market share in 2022, amassing US$ 12.23 million. It is projected to garner US$ 15.11 million by 2028 to expand at 3.6% CAGR during 2022–2028.
Based on end user, the Middle East & Africa embolization coils market is categorized into hospital, cardiac center, ambulatory center, and other. The hospital segment held 52.4% market share in 2022, amassing US$ 23.11 million. It is projected to garner US$ 28.22 million by 2028 to expand at 3.4% CAGR during 2022–2028.
Based on country, the Middle East & Africa embolization coils market has been categorized into the Saudi Arabia, South Africa, the UAE, and Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 41.3% market share in 2022. It was assessed at US$ 18.20 million in 2022 and is likely to hit US$ 21.81 million by 2028, exhibiting a CAGR of 3.1% during the forecast period.
Key players dominating the Middle East & Africa embolization coils market are Terumo Corporation; Medtronic; Boston Scientific Corporation; Stryker; KANEKA CORPORATION; MicroPort Scientific Corporation; Penumbra, Inc.; Cook Medical LLC; Johnson & Johnson Services, Inc.; and Shape Memory Medical INC. among others.
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