USD 5.76 billion
Report ID: SQMIG35A2295 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 66 | Figures: 75
Global Transcatheter Embolization and Occlusion Devices Market size was valued at USD 5.76 billion in 2021 and is poised to grow from USD 5.1 billion in 2022 to USD 13.47 billion by 2030, growing at a CAGR of 9.89% in the forecast period (2023-2030).
The global transcatheter embolization and occlusion devices market has been experiencing significant growth in recent years. Transcatheter embolization and occlusion devices are minimally invasive medical devices used to block or reduce blood flow to abnormal vessels or tissues within the body. These devices are widely used in the treatment of various medical conditions, including tumours, aneurysms, and vascular malformations. Moreover, the increasing geriatric population worldwide is driving the demand for transcatheter embolization and occlusion devices. Elderly individuals are more prone to cardiovascular diseases and various types of cancer, necessitating the use of minimally invasive treatment options. Additionally, the rising healthcare expenditure and improving healthcare infrastructure in emerging economies are further fueling market growth.
Global Market Size
USD 5.76 billion
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The global transcatheter embolization and occlusion devices market is segmented on the basis of type, application, and region. Based on type, the market can be segmented into embolization coils, liquid embolics, embolization particles, flow diverters, and occlusion devices. Based on application, the market is segmented into neurology, oncology, cardiology, gynaecology, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Analysis of the global transcatheter embolization and occlusion devices market reveals that the most dominant type in terms of market share is embolization coils. Embolization coils are widely used in minimally invasive procedures to treat vascular abnormalities and block blood flow to target areas. Their efficacy, versatility, and established track record have contributed to their dominance in the market.
On the other hand, the fastest-growing type in the global transcatheter embolization and occlusion devices market is flow diverters. Flow diverters are advanced devices used to redirect blood flow away from an aneurysm or abnormal vessel, promoting vessel healing and reducing the risk of rupture. The increasing adoption of flow diverters in endovascular treatments, advancements in technology, and growing awareness about their benefits have propelled their rapid growth in the market.
Analysis by Application
Oncology holds the dominant position in the global transcatheter embolization and occlusion devices market. This is primarily attributed to the increasing incidence of various types of cancer, such as liver cancer, kidney cancer, and lung cancer, among others. Transcatheter embolization and occlusion devices play a crucial role in the treatment of cancer by blocking or reducing blood flow to tumours, leading to their shrinkage or destruction. The growing adoption of minimally invasive procedures and the rising preference for targeted therapies have further propelled the demand for transcatheter embolization and occlusion devices in oncology.
On the other hand, the fastest growing application in the global transcatheter embolization and occlusion devices market is Neurology. Neurological disorders, such as arteriovenous malformations (AVMs), brain aneurysms, and intracranial vascular diseases, require specialised treatment approaches. Transcatheter embolization and occlusion devices offer a less invasive alternative to traditional surgical procedures for the treatment of these conditions. The increasing prevalence of neurovascular diseases, advancements in device technology, and the growing adoption of minimally invasive techniques have contributed to the rapid growth of transcatheter embolization and occlusion devices in neurology.
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North America has emerged as the most dominant market for transcatheter embolization and occlusion devices. This can be attributed to the well-established healthcare infrastructure, high adoption rate of advanced medical technologies, and favourable reimbursement policies in countries like the United States and Canada. The presence of key market players and ongoing research and development activities in the region further contribute to its dominance.
Asia Pacific exhibits significant potential and is experiencing rapid market growth. Factors such as a large patient pool, increasing awareness about minimally invasive procedures, and the growing healthcare expenditure in countries like China, Japan, and India are driving the demand for transcatheter embolization and occlusion devices in the region. Additionally, the rise in government initiatives to improve healthcare infrastructure and the increasing focus on expanding access to quality healthcare services are fueling market growth in Asia Pacific.
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The global transcatheter embolization and occlusion devices market is highly competitive and characterised by the presence of several major players. These companies are engaged in continuous research and development activities to introduce innovative products and gain a competitive edge in the market. The competitive landscape is shaped by factors such as product offerings, technological advancements, strategic collaborations, and geographical presence.
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According to the global transcatheter embolization and occlusion devices analysis, the increasing adoption of minimally invasive procedures as the primary drivers of the transcatheter embolization and occlusion devices market. With a rising global burden of conditions such as aneurysms, arteriovenous malformations, and uterine fibroids, there is a growing demand for effective treatment options. Transcatheter embolization and occlusion devices offer a less invasive alternative to surgical procedures, leading to reduced hospital stays, faster recovery, and improved patient outcomes.
The report emphasises the technological advancements in the field of embolization and occlusion devices. The development of advanced materials, imaging technologies, and innovative delivery systems has enabled healthcare providers to perform complex procedures with greater precision and efficacy. The introduction of next-generation devices, such as detachable coils, liquid embolics, and flow diverters, has expanded the treatment options available to physicians and enhanced patient care.
|Market size value in 2021||USD 5.76 billion|
|Market size value in 2030||USD 5.1 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Transcatheter Embolization and Occlusion Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Transcatheter Embolization and Occlusion Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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