Transcatheter Embolization and Occlusion Devices Market

The Transcatheter Embolization and Occlusion Devices Market is anticipated to grow at a significant CAGR of 9.14% during the forecast period, 2021 to 2026, to reach USD 6.25 billion by 2026, as per DelveInsight.

The Global Transcatheter Embolization and Occlusion Devices market is anticipated to witness significant growth due to the prevalence of chronic diseases like cardiovascular diseases, respiratory disorders, and cancer, coupled with the increasing geriatric population and increased adoption of minimally invasive surgeries and the introduction of technologically advanced products. The report will provide an in-depth market understanding for Transcatheter Embolization and Occlusion Devices, further benefiting the competitors or stakeholders operating in the Transcatheter Embolization and Occlusion Devices arena. 

Some of the key Transcatheter Embolization and Occlusion Devices companies with their therapeutic products in various stages of development include Boston Scientific Corporation, Medtronic PLC, Penumbra, Inc., Merit Medical Systems, Inc., Cook Medical Inc., Edwards Lifesciences Corporation, Johnson & Johnson Services, Inc., phenox GmbH, Lepu Medical Technology(Beijing)Co., Ltd., Kaneka Medix Corporation, Stryker Corporation, Braile Biomédica, Terumo Corporation, MicroPort Scientific Corporation, W. L. Gore & Associates, Inc., and others.

DelveInsight’s “Transcatheter Embolization and Occlusion Devices Market Insight & Forecast” report will offer an in-depth understanding of the Transcatheter Embolization and Occlusion market, further benefiting the competitors or stakeholders operating in the Transcatheter Embolization and Occlusion device arena.

Transcatheter Embolization and Occlusion Devices Overview

A minimally invasive treatment is transcatheter embolization and occlusion (TEO). An example catheter is used to place or implant a synthetic embolus into a blood artery to limit blood supply to the tumor or other parts of the body. The rising prevalence of targeted diseases, technological advancements in efficiency-enhanced systems, the transition from clipping to coiling, the growing demand for minimally invasive surgeries (MISs), and the increasing penetration of Transcatheter Embolization and Occlusion devices are some of the key factors driving the market growth.

Furthermore, the aging population, as well as changes in social behavior, contribute to the steady rise in these common and costly long-term health issues. Cancer, cardiovascular disease, obesity, and diabetes are the leading causes of death from chronic diseases. According to GLOBOCAN data, around 19.3 million new cancer cases will be reported globally in 2020, with this figure anticipated to rise to 30.2 million by 2040. As a result, the growing prevalence of chronic diseases will aid the growth of the Global Transcatheter Embolization and Occlusion Devices Market.

The growing geriatric population throughout the world is one of the primary reasons driving the Transcatheter Embolization and Occlusion Devices market. Improving healthcare facilities and disposable finances have been important contributors in increasing life expectancy and quality of life. According to United Nations estimates, there will be around 727 million individuals over the age of 65 living around the world in 2020. In the next three decades, the old population is predicted to double, reaching over 1.5 billion people. As a result, demand for Transcatheter Embolization and Occlusion Devices will rise as the senior population grows.

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Transcatheter Embolization and Occlusion Devices Market Insights

Geographically, the global Transcatheter Embolization and Occlusion Devices market is analyzed for North America, Europe, Asia-Pacific, and the Rest of the World. Currently, North America is dominating the global market in terms of revenue share and is contemplated to remain constant during the forecast period. This domination is owing to the growing demand because of the increasing prevalence of cardiovascular diseases, better healthcare facilities, rising population of the elderly, among other factors in the region. Furthermore, the prompt and well-established healthcare services and infrastructure further contribute to the regional Transcatheter Embolization and Occlusion Devices market growth. Moreover, key players in the region and supportive reimbursement programs additionally provide immense growth opportunities for the Transcatheter Embolization and Occlusion Devices market.

As per the Centers for Disease Control and Prevention (CDC), more than 795,000 people in the United States suffer from a stroke every year. The most common type of heart disease, coronary heart disease, kills around 370,000 people each year. Coronary heart disease develops when the arteries around the heart become clogged or occluded, most commonly due to plaque. According to the American Heart Association, around 200,000 coronary artery bypass graft procedures are performed in the United States each year, making it the most common cardiac procedure.

Rising product launch and commercialization agreements among the key manufacturers and other companies are anticipated to boost the market. For instance, in June 2021, Abbott received a CE mark and Health Canada approval for its Amplatzer steerable delivery sheath. The company touts the Amplatzer sheath as the first steerable delivery sheath to be explicitly developed for minimally invasive left atrial appendage (LAA) occlusion (or closure) procedures for patients, which is expected to propel the market growth of Transcatheter Embolization and Occlusion Devices.

To learn more about why North America is dominating the Transcatheter Embolization and Occlusion market growth, get a snapshot of the Transcatheter Embolization and Occlusion Devices market report.

Recent Advancements in Transcatheter Embolization and Occlusion Market:

• In April 2021, Medtronic plc announced it had received approval from the United States Food and Drug Administration (FDA) for Pipeline™ Flex Embolization Device with Shield Technology™. Medtronic introduced the first surface-modified implant device with Shield Technology, a proprietary breakthrough in biomaterial science, to advance flow diversion therapy by demonstrating a reduction in material thrombogenicity, or the tendency of the surface treatment material to form clots. 

• In March 2021, the US Food and Drug Administration (FDA) cleared Boston Scientific’s TheraSphere Y-90 Glass Microspheres, an interventional radiology therapy developed for the transcatheter treatment of patients with hepatocellular carcinoma (HCC). 

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Key Players Proactively Working In the Transcatheter Embolization and Occlusion Market

Transcatheter Embolization and Occlusion Companies that are involved in the manufacturing and production of these devices are making substantial advancements. They also participate in mergers and acquisitions to strengthen their market position. Some of the key Transcatheter Embolization and Occlusion companies operating actively in the Transcatheter Embolization and Occlusion Device market include Boston Scientific Corporation (NYSE: BSX), Medtronic PLC (MDT:NYSE), Lepu Medical Technology(Beijing)Co., Ltd., Penumbra, Inc. (PEN:NYSE), Kaneka Medix Corporation, Cook Medical Inc., Edwards Lifesciences Corporation (NYSE:EW), Merit Medical Systems, Inc. (NASDAQ:MMSI), Johnson & Johnson Services, Inc. (JNJ:New York), Stryker Corporation (NYSE: SYK), phenox GmbH (PHNX:London), Braile Biomédica, Terumo Corporation (TSE: 4543), MicroPort Scientific Corporation, W. L. Gore & Associates, Inc., and others.

Covid 19 Impact Analysis on Transcatheter Embolization and Occlusion Devices

The COVID-19 outbreak has had a major impact on the need for Transcatheter Embolization and Occlusion Devices. To stop the illness from spreading, the authorities implemented lockdowns, which limited movement and reduced routine check-ups. Various elective treatments were briefly halted because of the COVID-19 pandemic, although COVID-19-affected patients were given high priority. As a result, demand for Transcatheter Embolization and Occlusion Devices has decreased. The need for Transcatheter Embolization and Occlusion equipment is predicted to increase as the number of cases decreases, vaccination rates rise, and lockdowns are lifted.

However, post-COVID-19, the healthcare system is trying to get normalcy due to the resumed patent visits, the opening of manufacturing facilities, and leverage given in terms of lockdown restrictions. Hence, the demand for Transcatheter Embolization and Occlusion Devices is expected to rise during the forecast period.

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Scope of the Transcatheter Embolization and Occlusion Device Market Report:

• Geography Covered: Global

• Study Period: 2021-2026

• Key Transcatheter Embolization and Occlusion Companies: Boston Scientific Corporation, Medtronic PLC, Penumbra, Inc., Cook Medical Inc., Edwards Lifesciences Corporation, Merit Medical Systems, Inc., Johnson & Johnson Services, Inc., Lepu Medical Technology(Beijing)Co., Ltd., Kaneka Medix Corporation, Stryker Corporation, phenox GmbH, Braile Biomédica, Terumo Corporation, MicroPort Scientific Corporation, W. L. Gore & Associates, Inc., and others.

• Market Segmentation By Type- Coiled (Pushable Coils, Detachable Coils), Non-coiled (Flow diverting devices, Embolization particles, Liquid embolic, and others)

• Market Segmentation By Application – Peripheral Vascular Devices, Oncology, Neurology, Urology and Others

• Market Segmentation By End-User –  Hospitals & Clinics, Ambulatory Surgical Centers, and Others

• Market Segmentation by Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)

• Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

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