A prominent research firm, Cognizance Market Research added a cutting-edge industry report on the “Global Transcatheter Embolization and Occlusion Devices Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2022 to 2030.
Global Transcatheter Embolization and Occlusion Devices Market Analysis
According to cognizance market research, the Global Transcatheter Embolization and Occlusion Devices Market was valued at US$ 3,198.3 Million in 2022 and is anticipated to reach US$ 6,306.2 Million by the end of 2030 with a CAGR of 8.9% from 2023 to 2030.
What is the Global Transcatheter Embolization and Occlusion Devices Market?
A synthetic embolus is inserted through a tiny catheter into the blood vessel to impede blood flow to the tumor or other specific locations in the body in transcatheter embolization and occlusion, a minimally invasive procedure used in interventional radiology. To block small blood arteries, liquid-suspended particles such as gelatine-impregnated acrylic sphere polymer and polyvinyl alcohol (PVA) are injected into the bloodstream. Coils are eternal embolic devices that come in a variety of sizes and shapes, and they are coated with chemotherapeutic medications that cause cytotoxicity to attack the tumor and obstruct the blood supply.
These procedures also aid in removing improper connections between the arterial and venous systems and in preventing or controlling abnormal bleeding. Moreover, they aid in the management of aneurysms. Unlike open and invasive surgical techniques, transcatheter embolization is particularly effective at controlling bleeding without being invasive. The use of TEO devices is another area where this technology is becoming more widely adopted. Embolization particles and liquid embolic, which are non-coil products, aid minimally invasive surgery. Hence, using these devices helps prevent issues like catheter entrapment, inaccurate installation, and balloon deflation brought on by coiling. To take advantage of these benefits, surgeons are increasingly moving toward non-coil devices, which are expected to increase revenue for TEO devices.
Transcatheter embolization is a useful therapeutic option for many gynecological and obstetric problems. It is feasible to avoid surgery with minimally invasive transcatheter embolization procedures, which reduce mortality and morbidity while preserving a patient’s possibility for future conception. Under the guidance of knowledgeable interventional radiologists and with essential technological support, transcatheter embolization is utilized to cure a range of ulcerations in the female pelvis, such as ectopic pregnancy, arteriovenous malformation, and advanced-stage cancer. It is used to treat pelvic congestion syndrome and uterine fibroid symptoms after women have undergone the necessary examination. Success rates of 85% and higher have been recorded for women receiving embolization to treat uterine polyps.
Global Transcatheter Embolization and Occlusion Devices Market Outlook
In the ever-evolving world of medical technology, the industry for transcatheter embolization and occlusion devices is witnessing a remarkable journey. It’s a tale of innovation and challenges, with its plot driven by several key factors.
At the heart of this story are the transcatheter embolization and occlusion devices themselves, designed with precision to offer increased efficiency and a wide range of products. These include flow diverters, accessories, liquid embolic agents, embolization coils, and many others, all tailored to carry out vital tasks with effectiveness. As the demand for minimally invasive procedures grows, transcatheter techniques have gained significant traction, replacing older methods like clipping with coiling. This shift has fueled the market’s expansion, as more healthcare professionals and patients embrace the advantages of these innovative devices.
However, no story is without its challenges. High production costs loom as a potential impediment to the market’s growth, threatening the affordability and accessibility of these life-saving technologies. Stringent regulatory environments add another layer of complexity, making it crucial for manufacturers to navigate these hurdles while delivering cutting-edge solutions. Additionally, the rising prevalence of chronic diseases worldwide casts a shadow over the healthcare landscape, adding urgency to the need for transcatheter embolization and occlusion devices.
Yet, amidst these challenges, there are rays of hope. The benefits of minimally invasive treatments, an aging population, and increased healthcare spending promise a brighter future for the industry. Moreover, innovations in the healthcare sector and the burgeoning field of medical tourism present new opportunities for market participants.
Nonetheless, the path to success is not without its obstacles. A shortage of specialists with the necessary skills to perform these procedures effectively and a persistently high rate of surgical errors weigh on the industry’s growth prospects. Lesions and complications pose a constant threat, demanding continuous improvement and adaptation from the medical community.
The tale takes an unexpected turn with the arrival of COVID-19. The pandemic sent shockwaves through the healthcare industry, but transcatheter embolization and occlusion devices remained resilient. The surge in medical product sales was met with an equally determined medical supply sector. As COVID-19 cases surged, so did the demand for respiratory support equipment and life-saving machines. Industry leaders rose to the occasion, ensuring the availability of critical medical supplies despite the challenges posed by the pandemic.
In the end, the market of transcatheter embolization and occlusion devices is one of perseverance and progress. It’s a tale of a dynamic industry, driven by innovation, adapting to challenges, and emerging stronger in the face of adversity. As the world continues to change, this narrative will undoubtedly evolve, with new chapters yet to be written in the ongoing saga of medical advancement.
The market for transcatheter embolization and occlusion devices is divided into segments based on product, application, end-user, and geographic location. The development of these segments will assist you in analyzing the industries’ sparsely growing segments and will give users useful industry understanding and market knowledge to aid in the selection of key market applications.
The global transcatheter embolization and occlusion devices market based on products is segmented into Coiled types and non-coiled types. Under coiled types, there are pushable coils and detachable coils. For non-coiled types, the segments include Embolization particles, flow diverter devices, liquid embolic, and others. In terms of product, the non-Coiled segment of the market accounted for the largest share of the global market for transcatheter embolization and occlusion devices by 2022. The usage of these devices has been credited with the quick expansion of this product category since it helps prevent issues including, balloon deflation, inaccurate installation, and catheter entrapment, brought on by coiling. To take advantage of the advantages associated with non-coil devices, surgeons are turning more and more toward them. Hence, the market for transcatheter embolization and occlusion devices benefits from the rising demand for illness treatment.
Based on application, the global transcatheter embolization and occlusion devices market is segmented into peripheral vascular diseases (Arterial blockage, venous blood clot & others), Oncology (Liver cancer, kidney cancer, Pancreatic cancer, breast cancer & others), Urology (Urinary retention/benign prostatic Hyperplasia & others), and Neurology (Brain Aneurysm, Cerebral arteriovenous Malformation, & others). Over the projection period, peripheral vascular disease is expected to be a very lucrative segment. Due to a growth in the number of elderly people, changing lifestyles that have resulted in a high rate of obesity, and an increase in the need for minimally invasive procedures, the category is anticipated to continue to dominate the market from 2022 to 2030. However, due to the rising incidence of cancer around the world, the oncology category is anticipated to grow at a rapid pace during the forecast period.
Based on end-users, the global transcatheter embolization and occlusion devices market is segmented into Hospitals, Ambulatory surgical centers, clinics and others. In 2022, the hospital sector accounted for a sizable portion of the global market. The expansion of the hospital market can be related to the accessibility of various service alternatives, devices, and partnerships with healthcare organizations to improve the range of healthcare goods and services. In addition, hospitals are the favored option since they have better medical services and access to cutting-edge technology. Due to an increase in the number of elderly people and a rise in the infrastructure and support for health care, the hospital market is anticipated to grow at a rapid CAGR, particularly in developed nations. Also, the market is projected to be driven by a rising need for transcatheter embolization and occlusion devices in ambulatory surgery centers during medical emergencies.
The global market for transcatheter embolization and occlusion devices is divided into regional segments, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, Europe ranked second after North America as the market leader for transcatheter embolization and occlusion devices.
The market in North America is driven by the region’s highly developed healthcare system, increasing provider awareness about transcatheter embolization and occlusion devices, and ongoing advancements in these technologies. In 2022, North America and Europe collectively represented most of the revenue. Some of the factors fueling the demand for TEO devices in these regions include the presence of a modern, well-defined regulatory framework, a robust healthcare infrastructure, and skilled healthcare personnel to perform the operations. It is expected that both regions will continue to dominate throughout the predicted period.
The transcatheter embolization and occlusion equipment market in the Asia Pacific is anticipated to grow rapidly during the forecast period due to the increasing awareness of transcatheter embolization and occlusion devices for medical reasons. Additionally, the healthcare industry’s growth in countries like China, Japan, and India presents significant opportunities for the region. Technological improvements and an increase in the rate of implementation of transcatheter embolization and occlusion device products are expected to drive the market in the area throughout the forecast period.
In summary, while North America and Europe currently lead the global market for transcatheter embolization and occlusion devices, the Asia Pacific region is poised for rapid growth due to increasing awareness and advancements in healthcare infrastructure and technology. These regional dynamics highlight the global expansion and significance of transcatheter embolization and occlusion devices in the medical field.
The report offers the revenue of the global transcatheter embolization and occlusion devices market for the period 2020-2030, considering 2020 and 2021 as historical years, 2022 as the base year, and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global transcatheter embolization and occlusion devices market for the forecast period. The global transcatheter embolization and occlusion devices market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the global transcatheter embolization and occlusion devices market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the global transcatheter embolization and occlusion devices market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the global transcatheter embolization and occlusion devices market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature reviews, press releases, annual reports, white papers, and relevant documents have also been studied to understand the global transcatheter embolization and occlusion devices market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segments included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the global transcatheter embolization and occlusion devices market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the global transcatheter embolization and occlusion devices market. The subsequent section of the transcatheter embolization and occlusion devices report highlights the USPs, which include key industry events (product launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Global Transcatheter Embolization and Occlusion Devices Market Competitive Landscape
There are numerous international and regional players in the highly fragmented market for transcatheter embolization and occlusion devices. The top companies in the global market for transcatheter embolization and occlusion devices are.
The report explores the competitive scenario of the transcatheter embolization and occlusion devices market. Major players operating in the transcatheter embolization and occlusion devices market have been identified and profiled for unique commercial attributes. Company overview (company description, product portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the transcatheter embolization and occlusion devices market report.
Global Transcatheter Embolization and Occlusion Devices Market, By Product Type
Global Transcatheter Embolization and Occlusion Devices Market, By Application
Global Transcatheter Embolization and Occlusion Devices Market, By End-User
Global Transcatheter Embolization and Occlusion Devices Market, By Region
BTG plc, Boston Scientific Corporation, Medtronic plc, Penumbra, Inc., Cook Medical, Edwards Lifesciences Corporation, etc.
Trend: a paradigm shift from clipping to coiling, increasing adoption of this technique, etc., drivers: rising demand for minimally invasive surgeries, transcatheter devices with the usage of radiology eliminated the surgeries, patient awareness, etc., Opportunities: increased prevalence of cancer & development in oncology treatment, a wide range of devices reduces the rate of surgeries, etc., challenges: Costly products, stringent regulatory approval procedure, etc.
North America and Europe
Expansion of product portfolio, acquisition & and merges, etc.
BTG plc, Boston Scientific Corporation, Medtronic plc, Penumbra, Inc., Cook Medical, Edwards Lifesciences Corporation, etc.
Transcatheter Embolization and Occlusion Devices Market
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