Europe Peripheral Embolization Coils Market

The Europe peripheral embolization coils market was valued at US$ 189.47 million in 2023 and is expected to reach US$ 268.44 million by 2031; it is estimated to register a CAGR of 4.5% from 2023 to 2031.

Increase in Incedence of Cancer Drives Europe Peripheral Embolization Coils Market

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.

Europe Peripheral Embolization Coils Market Overview

The Europe peripheral embolization coils market is further segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Europe occupies a significant position in the global peripheral embolization coils market and is expected to record a strong growth rate during the forecast period. The market growth in the region is mainly attributed to the burgeoning cases of colorectal cancer and gastrointestinal bleeding. According to GLOBOCAN 2020, Germany recorded ~57,528 new colorectal cases (including 26,654 women and 30,874 men) in 2020; nearly one in eight of these cases show cancerous growth in the large intestine (colon) or rectum in clinical evaluation. According to an article released by the National Institutes of Health (NIH), acute gastrointestinal bleeding (AGIB) is a prevalent surgical problem, accounting for ~85,000 occurrences per year in the UK, i.e., 1 case every 6 minutes. The lower gastrointestinal bleeding (LGIB) has an estimated annual incidence of 87 per 10,000 persons. The overall mortality rate for such patients varies from 3.4% to 17.8% for inpatients. Embolization is currently advocated as the initial step in the treatment of acute, life-threatening LGIB when an endoscopic approach proves to be impossible or ineffective. Detachable coils (with or without a triaxial system), as well as liquid embolic agents, have proven to be more effective than other embolic agents.

Varicose veins (bulging, overfilled veins) are highly common among women, particularly during pregnancy and in women over the age of 65. According to Statista, more than 500,000 women aged 65-74 in Spain were diagnosed with varicose veins in 2020. Varicocele embolization is an outpatient treatment that requires minimal recovery time. During the process, a small nick is made in the skin (typically in the groin). Metal coils are put into the catheter before being guided into the varicocele's varicose veins. This effectively closes up the damaged veins and redirects blood flow back to the circulatory system via a different route through healthy veins. Rest of Europe includes developing countries such as Poland, Austria, Switzerland, Sweden, Norway, Ireland, Denmark, Belgium, and the Netherlands. As per the Global Cancer Observatory data, a total of 9,585 new colorectal cancer cases were diagnosed in Belgium in 2020, including 4,150 cases in women and 5,435 in men. Further, nearly 4,976 new colorectal cancer cases in Norway were diagnosed in 2020. In Switzerland, approximately 4,569 new colorectal cancer cases were diagnosed in 2020. One of the common complications of colorectal cancer is GIB, which is typically related to primary tumor erosion and hemorrhage. Microcoil embolization is an effective method for decreasing GIB. Pushable coils are the most common embolic agent utilized in both upper and lower gastrointestinal hemorrhage.

Europe Peripheral Embolization Coils Market Revenue and Forecast to 2031 (US$ Million)

Europe Peripheral Embolization Coils Strategic Insights

Strategic insights for the Europe Peripheral Embolization Coils provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Peripheral Embolization Coils Report Scope

Europe Peripheral Embolization Coils Regional Insights

The geographic scope of the Europe Peripheral Embolization Coils refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Europe Peripheral Embolization Coils Market Segmentation 

The Europe peripheral embolization coils market is categorized into type, material, application, and country.

Based on type, the Europe peripheral embolization coils market is bifurcated into detachable coil and pushable coil. The detachable coil segment held a larger market share in 2023.

In terms of material, the Europe peripheral embolization coils market is categorized into platinum, platinum & hydrogel, and platinum tungsten alloy. The platinum segment held the largest market share in 2023.

By application, the Europe peripheral embolization coils market is segmented into bleedings & trauma, malformations, tumours, visceral aneurysm, endoleak type II, and varicose veins. The bleedings & trauma segment held the largest market share in 2023.

Based on country, the Europe peripheral embolization coils market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe peripheral embolization coils market share in 2023.

Medtronic Plc; Penumbra, Inc.; Balt; Boston Scientific Corp; Cook Medical Holdings LLC; Wallaby Medical; Spartan Micro Inc.; and Terumo Corp. are some of the leading companies operating in the Europe peripheral embolization coils market.