Global Transcatheter Embolization and Occlusion Devices Market value of USD 3,290.4 million in 2018 and is projected to grow at a CAGR of 9.9% during the forecast period.

Global Transcatheter Embolization and Occlusion Devices Market Research Report by Product (Coiled Devices and Non-Coiled Devices), Indication (Peripheral Vascular Disease, Oncology, Neurology and Urology), End User (Hospitals, Clinics and Ambulatory Surgery Centers) and Region - Forecast till 2024

Market Scenario

Global Transcatheter Embolization and Occlusion Devices Market is Expected to Register a Healthy CAGR Over the Forecast Period. The market held a market value of USD 3,290.4 million in 2018 and is projected to grow at a CAGR of 9.9% during the forecast period. Transcatheter embolization and occlusion (TEO) is a minimally invasive (MI) procedure performed in interventional radiology wherein a synthetic embolus is placed or inserted through a fine catheter in the blood vessel to obstruct the blood flow towards tumor or specific area of the body. Coils are permanent embolic agents which come in a variety of shapes and sizes and are coated with chemotherapeutic drugs that block the blood supply as well as induce cytotoxicity to attack the tumor. Particulate agents such as polyvinyl alcohol (PVA) and gelatin-impregnated acrylic polymer spheres are suspended in liquid and injected into the bloodstream to block small blood vessels. This procedure is used to prevent abnormal bleeding, eliminate abnormal connections between arteries and veins, and to treat the aneurysm. Few of the major factors driving the market growth are growing burden of targeted diseases, technological advances in the devices with enhanced efficiency, changing shift from clipping to coiling, rising preference for minimally invasive surgeries (MISs), and increasing adoption of TEO devices. Venous malformations are the most common of all vascular anomalies. For instance, according to the International Society for Auricular Reconstruction (ISAR), in 2017, the overall incidence of venous malformations was reported in 1% to 4% of the population, without any predilection in the sex. On the flip side, the high cost of products and the presence of stringent regulatory framework for product commercialization are anticipated to impede the market growth during the forecast period.

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 coiled devices segment is expected to dominate the market due to the availability of wide-range of coils in various shapes and sizes that enables suitable product selection for different cases, making coiling a preferred treatment for embolization. The non-coiled devices segment is likely to witness lucrative market growth during the forecast period due to increasing demand for flow diverting devices, embolization particles, liquid embolic, and accessories.

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.

The global transcatheter embolization and occlusion devices market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The transcatheter embolization and occlusion devices market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.

The European transcatheter embolization and occlusion devices market has been segmented into Western Europe and Eastern Europe. Western Europe, transcatheter embolization and occlusion devices market, has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The transcatheter embolization and occlusion devices market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The transcatheter embolization and occlusion devices market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key Players

Medtronic plc
Stryker Corporation
Terumo Corporation
Abbott Laboratories
Boston Scientific Corporation
Pfizer Inc.
Cardinal Health
DePuy Synthes
Cook Medical
Sirtex Medical Limited

Regional Market

Geographically, the Americas held substantial market share in 2018 attributed to the presence of key market participants, sophisticated healthcare infrastructure and reimbursement coverage, and the incidence of target diseases (fibroid tumor and arteriovenous malformations) in the US and Canada. For instance, as per the data provided by the Association of Neurological Surgeons (AANS), in 2017, the prevalence of arteriovenous malfunctions (AVM) was 18 people per 100,000 population in the US.

Europe would be the second largest value contributor in the global market due to robust growth in radioembolization spheres, drug-eluting beads, and flow-diverting devices. Improved detection and screening have treated hepatocellular carcinoma and metastatic liver cancer population across the country.

Asia-Pacific is expected to represent profitable market growth from 2018 to 2024 owing to the booming medical tourism industry in emerging economies, namely, China, India, Australia, and Malaysia, growing awareness about TEO procedure, and increasing adoption of transcatheter embolization and occlusion procedures. For instance, the International Medical Travel Journal (IMTJ) reported that Indian hospitals served 460,000 international patients from 2015 to 2016 for various surgical procedures.

The transcatheter embolization and occlusion devices market in the Middle East & Africa would witness the modest market growth rate from 2018 to 2024. The Middle East would spearhead the market.

Global Transcatheter Embolization and Occlusion Devices Market, by Product

Coiled Devices
Pushable Coils
Detachable Coils
Non-Coiled Devices
Flow-Diverting Devices
Embolization Particles
Liquid Embolic
Other Embolization and Occlusion Devices
Accessories

Global Transcatheter Embolization and Occlusion Devices Market, by Indication

Peripheral Vascular Disease
Oncology
Neurology
Urology
Others

Global Transcatheter Embolization and Occlusion Devices Market, by End User

Hospitals and Clinics
Ambulatory Surgery Centers (ASCs)
Others

Global Transcatheter Embolization and Occlusion Devices Market, by Region

Americas
North America
US
Canada
Latin America
Europe
Western Europe
Germany
France
Italy
Spain
UK
Rest of Western Europe
Eastern Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Middle East
Africa

Intended Audience

Transcatheter embolization and occlusion devices providers
Venture capitalists
Medical devices companies
Research and academic institutes
Healthcare facilities
Association and government bodies
Market research and consulting service providers
Corporate entities