Transcatheter Embolization And Occlusion Devices Market Size, Overview, Opportunities And Challenges By 2027

By Author: Riya Joshi
Total Articles: 1
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Market Highlights

The Global Transcatheter Embolization and Occlusion Devices Market Size held a Market Value of USD 3,290.4 million in 2018 and is Projected to Grow at a CAGR of 9.9% Over the Forecast Period. A catheter embolization procedure involves medications, or synthetic materials (embolic agents) are inserted through a catheter into a blood vessel to prevent blood flow to the area. Factors contributing to the market growth are technological advances in the products, expansion of the target patient population base, surging number of minimally invasive surgeries, the presence of favorable reimbursement for cardiovascular surgeries. On the other hand, costlier products and the presence of stringent regulatory framework for product commercialization are anticipated to limit the market growth during the next five years.

Transcatheter embolization and occlusion (TEO) is a minimally invasive alternative to an open surgery thereby shifting the preference of patients towards minimally invasive surgeries as it offers several advantages including minor incisions tissue damage, minimal pain surgical scars, same day ...
... discharge from the healthcare settings, and speedy wound healing. Overall, this can cause minor complications and reduces surgery costs that are likely to foster market growth during the next nine years.

Technology is proving its efficiency in treatment while performing complex surgeries. Embolization technique has become one of the most popular modalities for treatment of various types of cancer such as kidney, breast, liver (hepatocellular carcinoma), pancreatic, among others.

The introduction of technically advanced products with enhanced efficiency to treat malformations and fibrosis is supporting the market growth. For instance, in January 2018, the Cerenovus division of Johnson Johnson Services, Inc. introduced the Galaxy G3 Mini embolic coil to remove clots from brain post ischemic strokes.

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Key Players

Few of the prominent players in the global transcatheter embolization and occlusion devices market are Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, Stryker Corporation, Terumo Corporation, Pfizer Inc., DePuy Synthes, Cardinal Health, Cook Medical, Sirtex Medical Limited, and Merit Medical Systems.

Regional Analysis

The Global Transcatheter Embolization and Occlusion Devices Market has been categorized on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East Africa. Based on region, the Americas is expected to dominate the market over the forecast period due to the presence of medical reimbursements for cardiovascular procedures and key original equipment manufacturers which facilitates early market initiation, established healthcare infrastructure, and skilled healthcare professionals. These players include Stryker Corporation, Boston Scientific Corporation, Pfizer Inc., Abbott Laboratories, and Cardinal Health.

Europe would follow the Americas in terms of value in the transcatheter embolization and occlusion devices market as medical devices make an essential contribution to healthcare in the European Union for the benefit of European citizens. In addition, strong growth in radioembolization spheres, drug-eluting beads, and flow-diverting devices would support the regional market growth.

The market in Asia-Pacific would showcase comparatively higher CAGR during the forecast period owing to growing geriatric population coupled with rising burden of venous malformations and vascular anomalies, rapidly growing medical tourism in emerging countries including India, Australia, China, and Malaysia.

The Middle East Africa has the least share of the global transcatheter embolization and occlusion devices market. In addition, the major market share of the region would be held by the Middle Eastern region due to developing healthcare system and medical infrastructure in the Arab countries.

Segmentation

The global transcatheter embolization and occlusion devices market has been segmented into product, indication, end user, and region.

By product, the market has been segmented into coiled devices and non-coiled devices. The coiled devices segment has been further categorized into pushable coils and detachable coils. The non-coiled devices segment has been additionally divided into flow diverting devices, embolization particles, liquid embolic, other embolization and occlusion devices, and accessories. The accessories segment is expected to hold the largest share among non-coiled devices throughout the forecast period due to the introduction of various accessories along with the wide availability of embolization products.

On the basis of indication, the market has been divided into peripheral vascular disease, oncology, neurology, urology, and others.

Based on end user, the market has been categorized into hospitals and clinics, ambulatory surgery centers (ASCs), and others.

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