Report : South America 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 3.3% CAGR, the South America 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 South America embolization coils market was valued at US$ 107.13 million in 2022 and is expected to reach US$ 130.35 million by 2028, registering a CAGR of 3.3% from 2022 to 2028. Rise in prevalence of cardiac aneurysm and increase in incidence of cancer cases are the critical factors attributed to the South America embolization coils market expansion.
Cardiovascular diseases (CVDs) are disorders of the heart and blood vessels and include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Factors such as tobacco use, an unhealthy diet, and physical inactivity increase the risk of heart attacks and strokes. CVDs are the leading cause of death across the SAM, and they affect more people than any other disease. The cardiac aneurysm is majorly caused due to blockages in the aortic artery, the disease is categorized into two diseases according to the site of blockages. The blockages are seen in the chest, or the abdomen also called thoracic aortic aneurysm and abdominal aortic aneurysm respectively. The rise in prevalence of cardiac aneurysms is growing across the SAM. For instance, to the Society for Vascular Surgery (SVS) it is stated that every year in US 2 million people are diagnosed with an abdominal aortic aneurysm. It is also stated that a rupture abdominal aortic aneurysm is the 15th leading cause of death in the country. It is most seen in the le older than 55 years of age. In addition, the abdominal aortic aneurysm is majorly based on family history or inheritance. The immediate relative is more prone to getting an abdominal aortic aneurysm. The possibility is that 10 times more likely to develop an abdominal aortic aneurysm. And the person may have some type of aneurysm. This is expected to drive the South America embolization coils market during the forecast period.
On the contrary, high cost of embolization coils hurdles the growth of South America embolization coils market.
Based on type, the South America embolization coils market is bifurcated into detachable coil and pushable coil. The detachable coil segment held 59.6% market share in 2022, amassing US$ 63.84 million. It is projected to garner US$ 79.18 million by 2028 to expand at 3.7% CAGR during 2022–2028.
Based on material, the South America embolization coils market is categorized into platinum, platinum & hydrogel, and platinum tungsten alloy. The platinum segment held 45.0% market share in 2022, amassing US$ 48.17 million. It is projected to garner US$ 60.19 million by 2028 to expand at 3.8% CAGR during 2022–2028.
Based on application, the South America embolization coils market is categorized into neurology, cardiology, urology, oncology, peripheral vascular disease, and others. The neurology segment held 28.8%market share in 2022, amassing US$ 30.88 million. It is projected to garner US$ 39.10 million by 2028 to expand at 4.0% CAGR during 2022–2028.
Based on end user, the South America embolization coils market is categorized into hospital, cardiac center, ambulatory center, and other. The hospital segment held 53.4% market share in 2022, amassing US$ 57.22 million. It is projected to garner US$ 71.60 million by 2028 to expand at 3.8% CAGR during 2022–2028.
Based on country, the South America embolization coils market has been categorized into the Brazil, Argentina, and Rest of South America. Our regional analysis states that Brazil captured 62.0% market share in 2022. It was assessed at US$ 66.46 million in 2022 and is likely to hit US$ 82.20 million by 2028, exhibiting a CAGR of 3.6% during the forecast period.
Key players dominating the South America 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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