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Embolic Protection Devices Market To Expand At A Healthy Growth Rate In The Coming Years
Factors such as the rising incidence of cardiovascular and neurovascular diseases, growing funding and investments, launch of technologically advanced embolic protection devices, and rising demand for minimally invasive procedures are expected to drive the growth of the market. On the other hand, product failures and recalls may hinder the overall market growth to a certain extent during the forecast period.
What the Market Looks Like?
Predicted to grow at a CAGR of 8.3% during the forecast period, the global Embolic Protection Devices Market is estimated to reach $604.9 Million by 2023. North America dominated the market in 2017, and APAC is expected to grow at the highest CAGR
On the basis of application, the market is categorized into cardiovascular, neurovascular, and peripheral vascular diseases. The neurovascular segment is expected to grow at the highest CAGR during the forecast period. The favorable medical reimbursement scenarios for neurovascular procedures in developed countries, increasing awareness about the clinical efficacy of embolic protection devices among neurosurgeons, and the rising adoption of these systems across developing countries (such as China and India) are expected to drive the growth of this application segment during the forecast period.
On the basis of indication, the market is categorized into percutaneous coronary intervention, transcatheter aortic valve replacement (TAVR), carotid artery diseases, saphenous vein graft disease, and other indications. In 2017, the percutaneous coronary intervention segment accounted for the largest share of the global embolic protection devices market. The large share of this segment can primarily be attributed to the increasing prevalence of CAD and the rising preference for minimally invasive procedures.
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What Drives the Market?
The growth of the global market for Embolic Protection Devices is primarily influenced by the following factors:
• Rising Incidence of Cardiovascular & Neurovascular Diseases
• Funding and Investments for R&D on Embolic Protection Devices
• Technological Advancements
• Rising Demand for Minimally Invasive Procedures
Read more about Embolic Protection Devices Market:
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