Market Highlights:
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.
The Global Transcatheter Embolization and Occlusion Devices Market Share 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.
Key Players:
• Abbott Laboratories
• Medtronic plc
• Boston Scientific Corporation
• Stryker Corporation
• Terumo Corporation
• Pfizer Inc
• DePuy Synthes
• Cardinal Health
• Cook Medical
• Sirtex Medical Limited
• Merit Medical Systems
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.
• 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.
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.