Market Introduction
North America region includes countries such as the US, Canada, and Mexico. All the three countries in the region are witnessing a substantial development in the micro coils market. North America has largest market share of the Micro Coils market, by region. The market in the region is expected to grow significantly due to the rise in the number of FDA approvals to companies manufacturing micro coils. Increase in the prevalence of the brain aneurysm in US and Mexico. Whereas the rise in the number of cardiovascular diseases in Canada are likely to grow the market in the forecast period. Increasing prevalence of cardiac aneurysm and growing incidence of neurovascular diseases are the major factor driving the growth of the North America micro coils market.
In case of COVID-19, North America is highly affected specially the US. In the US, due to an increasing number of infected patients, healthcare professionals and leading organizations are distracting the flow of healthcare resources from research & development to primary care, which is slowing down the process of innovation. According to Society of Thoracic Surgeons, Cardiovascular surgery volumes in the United States fell by more than half during the COVID-19 pandemic’s first wave, with the biggest drops observed in the New England and mid-Atlantic regions. The exorbitant number of COVID cases have resulted in cancellation of doctor's appointment, decreased in demand for the elective neurosurgery, disruption in supply chain due to long period of lockdown. For instance, Medtronic plc, a company that generates the majority of its sales and profits from the U.S., has suffered a decrease in revenue of 1 percent in the fiscal year 2020 compared to the fiscal year 2019 in the neurovascular category.However, most of the countries in the North America has started vaccinating its population on a larger scale. This is expected to lower the intensity of COVID19 pandemic in the region. Owing to which the patients post vaccination are undergoing the pending medical procedures such as the surgeries, vascular treatments, and others. The healthcare systems in the region has regained its capacity since the start of the pandemic. The patient care has been improving as compares to the earlier time of the pandemic where in the line of treatments was not well defined. However, the development of the treatments and reductions in the death rate has gained confidence in the doctors and patients. Thus, it is expected to have low negative impact on the Micro Coil market in the region.
Market Overview and Dynamics
The North America micro coils market is expected to grow from US$ 488.31 million in 2021 to US$ 660.98 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028. Rising number of product approvals and launches is expected to surge the market. Extended functionalities and technologies incorporated in new devices are expected to rise in demand for micro coils across the region. In December 2020, Terumo Corporation announced a launch of WEB Embolization System. According to the company, WEB is the first intrasaccular flow disruptor device available in the market. The device is specially designed for the treatment of brain aneurysm. Further, in January 2018, Cerenovus announced a launch of next generation embolic micro coil for the treatment of stroke and cerebral aneurysms. Moreover, in December 2019, Kaneka Corporation launched an advanced micro coil for embolization of brain aneurysms. According to the company, the coils archive highest level of flexibility in the world. Such product introductions are estimated to offer a lucrative opportunity for North America market growth. Some of the market players are focusing on conducting awareness programs to spread information about benefits of micro coils. Such programs are also expected to offer a favorable environment for the product demand, which will eventually drive the North America market growth.
Key Market Segments
In terms of type, the pushable coils segment accounted for the largest share of the North America micro coils market in 2020. In terms of material, the platinum segment held a larger market share of the North America micro coils market in 2020. In terms of application, the others segment held a larger market share of the North America micro coils market in 2020. Further, the hospitals segment held a larger share of the North America micro coils market based on end user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America micro coils market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Balt USA LLC; Boston Scientific Corporation; Classic Coil Company; Cook Medical LLC; Johnson and Johnson Medical Devices (Depuy Synthes); KANEKA CORPORATION; Medtronic; Penumbra, Inc.; Stryker Corporation; and Terumo Corporation.
Reasons to buy report
North America Micro Coils Market Segmentation
North America Micro Coils Market - By Type
North America Micro Coils Market - By Material
North America Micro Coils Market - By Application
North America Micro Coils Market - By End User
North America Micro Coils Market - By Country
North America Micro Coils Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 488.31 Million |
| Market Size by 2028 | US$ 660.98 Million |
| CAGR (2021 - 2028) | 4.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Micro Coils Market is valued at US$ 488.31 Million in 2021, it is projected to reach US$ 660.98 Million by 2028.
As per our report North America Micro Coils Market, the market size is valued at US$ 488.31 Million in 2021, projecting it to reach US$ 660.98 Million by 2028. This translates to a CAGR of approximately 4.4% during the forecast period.
The North America Micro Coils Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Micro Coils Market report:
The North America Micro Coils Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Micro Coils Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Micro Coils Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Micro Coils Market
