LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global neuroendovascular coils market report until 2021. This research report also lists three other prominent vendors that are expected to impact the market during the forecast period.
The global neuroendovascular coils market is expected to witness significant growth during the forecast period. Currently, neuroendovascular coiling procedure accounts for more than 50% of the cerebral aneurysm treatments due to less mortality and morbidity rate, shorter hospital stay, and quicker recovery period compared with open surgical clipping. Increasing prevalence of cerebral aneurysm, increasing patients' preference toward MI surgeries, growing availability of technologically advanced and sophisticated technology, and increasing healthcare expenditure are expected to propel the growth of the global neuroendovascular coils market.
Competitive vendor landscape
The global neuroendovascular coils market is highly competitive. The intense competition among the vendors has been driving pricing pressure, resulting in a decline of average selling price of coil. The companies are increasingly focusing on manufacturing detachable coil. The market transition from bioactive coils to bare platinum coils is expected to continue due to the lack of clinical evidence demonstrating improved clinical outcome of bioactive coils.
Ramakrishna Edupulapati, an industry expert at Technavio for research on orthopedics and medical devices, says, “The advances in technology and new product launches will increase the competition among the existing vendors. The companies are focusing on acquiring their competitors to broaden their footprint in the market. For instance, TERUMO CORPORATION acquired MicroVention, Stryker acquired the neurovascular division of Boston Scientific, and DePuy Synthes, a subsidiary of Johnson & Johnson acquired Mircus Endovascular to expand their product portfolio and strengthen their position in the global neuroendovascular coils market.”
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Top five neuroendovascular coils market vendors
DePuy Synthes
DePuy Synthes is a part of Johnson & Johnson family of companies. It is a medical devices company that offers a comprehensive portfolio of orthopedic and neuro products and services for cranio-maxillofacial, joint reconstruction, neuro, trauma, spine, sports medicine, power tools and biomaterials. The company's product portfolio for neuroendovascular coils includes CASHMERE Microcoil, DELTAMAXX 18 Microcoil, DELTAPLUSH Microcoil, DELTAPAQ Microcoil, MICRUSPHERE Microcoil, ULTIPAQ Microcoil, ORBIT GALAXY Detachable Coil System and PRESIDIO Microcoil.
Medtronic
Medtronic operates in four segments that primarily manufacture and sell device-based medical therapies. The operating segments include cardiac and vascular group, minimally invasive therapies group, restorative therapies group, and diabetes group. In February 2015, Medtronic announced that it had received the US FDA approval for its latest-generation flow diversion device, Pipeline Flex embolization device.
Penumbra
Penumbra designs, develops, manufactures, and markets innovative medical devices to meet unmet clinical needs. The company offers a broad product portfolio in neuro and peripheral vascular segments. Penumbra offers a wide range of neurosurgical aspiration tools including detachable embolic coil systems for peripheral embolization under the RUBY Coil brand.
Stryker
Stryker is a medical technology company that manufactures a wide range of medical devices. The company offers a diverse array of innovative products and services in orthopedics, medical and surgical, and neurotechnology and spine. Stryker has a broad product portfolio with more than 59,000 products coming from 14 different divisions. It offers products in the fields including reconstructive, medical & surgical, and neurotechnology and spine.
TERUMO
TERUMO develops, manufactures, exports, imports, markets, distributes, and sells a diverse portfolio of medical devices, supplies, and accessories. The company operates through three business segments: cardiac and vascular business, blood management business, and general hospital business.
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