Transcatheter Embolization And Occlusion Devices - Market Insights, Competitive Landscape and Market Forecast-2026

Transcatheter Embolization And Occlusion Devices - Market Insights, Competitive Landscape and Market Forecast-2026

Transcatheter Embolization and Occlusion Devices Market By Type (Coiled [Pushable Coils, Detachable Coils], Non-Coiled [Flow Diverting Devices, Embolization Particles, Liquid Embolic, Others]), By  Application (Peripheral Vascular Disease, Oncology, Neurology, Urology, Others), By  End-User (Hospitals, Ambulatory Surgical Centers, Clinics), by geography is expected to grow at a steady CAGR forecast till 2026 owing to rising technological advancement and increasing prevalence of chronic diseases

Global Transcatheter Embolization and Occlusion Devices Market were valued at USD 3.71 billion in 2020, growing at a CAGR of 9.14% during the forecast period from 2021 to 2026, to reach USD 6.25 billion by 2026. The demand for Transcatheter Embolization and Occlusion Devices is primarily attributed to the rising technological advancement, surge in the prevalence of chronic diseases like cardiovascular diseases, respiratory disorders, and cancer, highly structured health care industry, increased adoption of minimally invasive surgeries, and increasing geriatric population.

Transcatheter Embolization and Occlusion Devices Market Dynamics:

In interventional radiology, transcatheter embolization and occlusion (TEO) is a minimally invasive (MI) treatment in which a synthetic embolus is positioned or implanted into the blood vessel via a fine catheter to block the flow of blood to the tumor or other areas of the body. The growing burden of targeted diseases, technical advancements in efficiency-enhanced systems, moving from clipping to coiling, increasing demand for minimally invasive surgeries (MISs), and increasing penetration of TEO devices are some of the major factors driving market development. The most prominent of all vascular abnormalities are venous malformations.

Transcatheter Embolization and Occlusion Devices Market has significantly increased due to the growing burden of chronic diseases throughout the world. Sometimes, synthetic substances are used to coat with chemotherapeutic drugs to perform simultaneous actions of blood supply blockage along with inducing cytotoxicity to find several ways for attacking tumors. Additionally, the procedures also help to prevent or control abnormal bleeding and eliminate abnormal connections among the veins and arteries. It also helps in the treatment of aneurysms.

An increase in the population of aging and changes in social behavior contributes to the constant increase in these common and expensive long-term health problems. Most deaths from chronic diseases are due to cancer, cardiovascular disease, obesity, and diabetes. As per the GLOBOCAN data, around 19.3 million new cancer cases were reported around the world in 2020, and this number is expected to increase to 30.2 million people by 2040. Thus, the burgeoning cases of chronic diseases will contribute to the Global Transcatheter Embolization and Occlusion Devices Market growth.

In addition, increased adoption of these devices as they are used in treatment as an alternative to open surgery with minimum tissue pain and smaller incisions. Such technological advancement in the field of Transcatheter Embolization and Occlusion Devices is likely to boost the Global Transcatheter Embolization and Occlusion Devices Market.

Also, the shift in trend from clipping to coiling equipment is fuelling the Global Transcatheter Embolization and Occlusion Devices Market.

Moreover, most of the diagnostic labs and hospitals are equipped with new techniques and better infrastructure facilities. The predominant goal is to improve access and precision, and decrease cost.

Certain factors such as the high cost of products, the requirement of skilled physicians, and the existence of a rigid regulatory system for product commercialization would hinder the growth of the Transcatheter Embolization and Occlusion Devices market.

Transcatheter Embolization and Occlusion Devices Market Segment Analysis:

Transcatheter Embolization and Occlusion Devices by Type (Coiled [Pushable Coils, Detachable Coils], Non-Coiled [Flow Diverting Devices, Embolization Particles, Liquid Embolic, Others]), Transcatheter Embolization and Occlusion Devices market by Application (Peripheral Vascular Disease, Oncology, Neurology, Urology, Others), Transcatheter Embolization and Occlusion Devices market by End User (Hospitals, Ambulatory Surgical Centers, Clinics), and Transcatheter Embolization and Occlusion Devices market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

Transcatheter Embolization and Occlusion Devices market product segment, the Non-Coiled market segment will hold the majority of the Global Transcatheter Embolization and Occlusion Devices market in 2020. The rapid growth of this product segment can be attributed to the use of these devices as this helps avoid complications, such as imprecise deployment, catheter entrapment, and balloon deflation associated with coiling. Therefore, surgeons are increasingly shifting toward non-coil devices to leverage the benefits associated with them. Therefore, the growing demand for disease treatment benefits the market of Transcatheter Embolization and Occlusion Devices market.

In addition, new product approvals are also likely to upsurge the Transcatheter Embolization and Occlusion Devices market during the forecasted period. For instance, in June 2021, Jasper® SS—a new detachable coil independently developed by Achieva Medical, a subsidiary of Peijia Medical—was approved by the National Medical Products Administration (""NMPA"") for commercialization.

Additionally, favorable reimbursement scenarios, increasing adoption of these devices, better healthcare infrastructure with equipped new/existing hospitals and healthcare centers in rural regions of developing countries such as India, China, Brazil, and others are expected to enhance the market potential of this equipment. Hence, all the above-mentioned factors are expected to drive the segment growth of the Transcatheter Embolization and Occlusion Devices market.

North America is expected to dominate the Overall Transcatheter Embolization and Occlusion Devices Market:

North America is expected to dominate the overall Transcatheter Embolization and Occlusion Devices market during the forecast period. This domination is due to the improved reimbursement policies, easy accessibility, and high adoption of technological advancements owing to the rise in healthcare expenditure by the US government. Further, the United States represents the largest market worldwide supported by developed healthcare infrastructure.

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 developed specifically 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.

Europe and Asia-Pacific region have the future potential growth for the Global Transcatheter Embolization and Occlusion Devices. This is due to the fact that embolization is a highly effective way to prevent abnormal bleeding and is minimally invasive as compared to open surgery. Additionally, the technology is proving its efficiency in treatment while performing complex surgeries in the European region countries and Asian countries. Improved government funding towards chronic disorders management, highly developed health care sector, a surge in the incidence of cardiovascular diseases, respiratory disorders, and cancer, increase in awareness among health care providers about Transcatheter Embolization and Occlusion Devices, and continuous evolution of Transcatheter Embolization and Occlusion Devices are the factors that are likely to drive the Transcatheter Embolization and Occlusion Devices market. Also, rising cardiovascular diseases such as stroke, heart attack, arrhythmias, and others are one of the leading chronic diseases in the European region that lead to an increase in demand for Transcatheter Embolization and Occlusion Devices. For instance, according to a study published in NCBI in 2016, 1.1 million inhabitants of Europe suffered a stroke each year, and ischemic stroke accounted for approximately 80% of cases. Thus, early diagnosis of these diseases for effective and efficient management can propel the Transcatheter Embolization and Occlusion Devices market in the region.

Transcatheter Embolization and Occlusion Devices Market Key Players:

Some of the key market players operating in the Transcatheter Embolization and Occlusion Devices market include 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.

Recent Developmental Activities in the Transcatheter Embolization and Occlusion Devices Market:

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

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

In August 2020, Stryker announced that it has received US Food and Drug Administration (FDA) approval for an expanded indication of its Neuroform Atlas Stent System, becoming the first and only adjunctive stent approved for use in the posterior (back of the brain) circulation. The Neuroform Atlas Stent System is indicated for use with neurovascular embolization coils in the anterior and posterior circulation of the neurovasculature for the endovascular treatment.

Key Takeaways from the Transcatheter Embolization and Occlusion Devices Market Report Study

Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Transcatheter Embolization and Occlusion Devices market.

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the Global Transcatheter Embolization and Occlusion Devices Market.

Various opportunities are available for the other competitor in the Transcatheter Embolization and Occlusion Devices Market space.

What are the top-performing segments in 2020? How these segments will perform in 2026.

Which are the top-performing regions and countries in the current market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Transcatheter Embolization and Occlusion Devices market growth in the coming future?

Target Audience who can be benefited from this Transcatheter Embolization and Occlusion Devices Market Ket Report Study

Transcatheter Embolization and Occlusion Devices providers

Research organizations and consulting companies

Transcatheter Embolization and Occlusion Devices related organization, association, forum, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders in Transcatheter Embolization and Occlusion Devices

Various End-users want to know more about the Transcatheter Embolization and Occlusion Devices Market and the latest technological developments in the Transcatheter Embolization and Occlusion Devices market.

Frequently Asked Questions for Transcatheter Embolization and Occlusion Devices Market:

1. What are Transcatheter Embolization and Occlusion Devices?

In interventional radiology, transcatheter embolization and occlusion (TEO) is a minimally invasive (MI) treatment in which a synthetic embolus is positioned or implanted into the blood vessel via a fine catheter to block the flow of blood to the tumor or other areas of the body.

2. What is the market for Global Transcatheter Embolization and Occlusion Devices?

Global Transcatheter Embolization and Occlusion Devices Market were valued at USD 3.71 billion in 2020, growing at a CAGR of 9.14% during the forecast period from 2021 to 2026, to reach USD 6.25 billion by 2026.

3. What are the drivers for Global Transcatheter Embolization and Occlusion Devices?

The major drivers driving the demand for Transcatheter Embolization and Occlusion Devices are rising technological advancement, surge in the incidence of cardiovascular diseases, respiratory disorders, and cancer, highly structured health care industry, increased adoption of minimally invasive surgeries, and increasing geriatric population.

4. What are the key players operating in Global Transcatheter Embolization and Occlusion Devices?

Some of the key market players operating in the Transcatheter Embolization and Occlusion Devices market include 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.

5. What regions have the highest share in Transcatheter Embolization and Occlusion Devices market?

North America is expected to dominate the overall Transcatheter Embolization and Occlusion Devices market during the forecast period, 2021 to 2026. This domination is due to the improved reimbursement policies, easy accessibility, and high adoption of technological advancements owing to the rise in healthcare expenditure by the US government.

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