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North America Micro Coils Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Material, Application, and End User

North America Micro Coils Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Material, Application, and End User

  • July 2021
  • 134 pages
  • ID: 6134744
  • Format: PDF
  • The Insight Partners

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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. The neurovascular system is highly dependent on arteries and veins that supply of oxygen and nutrients. The supply of oxygen and nutrients to the brain is essential for its working; therefore, any defect in the system can impair the function and it may lead to a life-threatening disease. A few common neurovascular conditions are ischemic stroke, hemorrhage stroke, brain aneurysm, vascular malformation, and brain tumors. During recent years, the prevalence of neurological disorders has increased significantly. For instance, nearly 30,000 people in the US suffer from brain aneurysm rupture every year. A brain aneurysm ruptures every 18 minutes. The annual rate of brain rupture in the country is close to 8–10 per 100,000 people. Thus, the rising prevalence of cerebral aneurysms fuels 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-19 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 most of its sales and profits from the US, 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 COVID-19 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.
The pushable coils segment led the North America micro coils market based on type in 2020.The pushable embolization coils are used for systematic approach with the assistance of the guidewires, catheters, coils, or the other similar devices.

The pushable coils are also available in several shapes and sizes.The coils are also used for the arterial and venous embolization in the peripheral vasculature.

Generally, the coils are available in the combination of platinum coil and an expandable hydrogel polymer.During the procedure hydrogels coils assists in the expansion of the direction of less resistance that allows to fill space during the introduction of coils into bloodstream.

The companies across region are offering pushable embolization coils. The companies have various products for the pushable embolization coils. The cost of the pushable coils are less than the detachable coils. Thus, owing to the above-mentioned factors the market for the pushable coils are likely to propel with a considerable pace during the forecast period.
The overall North America micro coils market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America micro coils market.

The process also serves the purpose of obtaining overview and forecast for the North America micro coils market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America micro coils market. 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 are among a few players operating in the North America micro coils market.

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