Transcatheter Embolization And Occlusion Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Transcatheter Embolization and Occlusion Devices Market By Type (Coiled [Pushable Coils and Detachable Coils], and Non-Coiled [Flow Diverting Devices, Embolization Particles, Liquid Embolic, and Others]), Application (Peripheral Vascular Disease, Oncology, Neurology, Urology, and Others), End-User (Hospitals, Ambulatory Surgical Centers, and Clinics), and Geography is expected to grow at a steady CAGR forecast till 2030 owing to rising technological advancement and increasing prevalence of chronic diseases

The global transcatheter embolization and occlusion devices market was valued at USD 4.04 billion in 2023, growing at a CAGR of 9.14% during the forecast period from 2024 to 2030, to reach USD 6.84 billion by 2030. 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 healthcare industry, increased adoption of minimally invasive surgeries, and increasing geriatric population.

Transcatheter Embolization and Occlusion Devices Market Dynamics:

Transcatheter Embolization and Occlusion Devices Market has significantly increased due to the growing burden of chronic diseases such as cancer, cardiovascular, and others throughout the world. For instance, according to the data cited by the World Health Organization (WHO) 2022, worldwide around 2.26 million cases of breast, 2.21 million cases of lung, 1.93 million cases of colon and rectum, 1.41 million cases of prostate, and 1.09 million cases of stomach cancer were reported in 2020.

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.

Also, the data provided by British Heart Foundation 2022 mentions that worldwide around 550 million which stands for 1 in 14 people were living with heart and circulatory diseases in 2019 and this includes about 290 million women and around 260 million men.

Transcatheter embolization and occlusion devices are largely employed in the treatment of patients suffering from various chronic diseases and 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 is likely to boost the global transcatheter embolization and occlusion devices market.

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

In the Transcatheter Embolization and Occlusion Devices market type segment, under the coiled category, the pushable coils are expected to hold the majority of the global transcatheter embolization and occlusion devices market in 2022. The rapid growth of this product segment can be attributed to the advantages and applications of these devices.

Pushable coils are utilized for mechanical occlusion of peripheral and visceral vessels. These are cost-effective, easily accessible, and comparatively easier to handle.

Pushable coils have various applications and these are intended for bleeding control, to occlude vascular lesions such as aneurysms, varices, and arteriovenous fistulas (AVFs), and for redistributing the blood flow to protect nontarget vessels among others.

For example, AZUR(TM) Peripheral Hydrocoil - Pushable Peripheral Coil System by Terumo Corporation is meant for reducing or blocking the rate of blood flow in vessels of the peripheral vasculature. The device is indicated for use in the interventional radiologic management of arteriovenous malformations, arteriovenous fistulae, aneurysms, and other lesions of the peripheral vasculature.

Additionally, favorable reimbursement scenarios, increasing adoption of these devices, and 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 rising prevalence of various chronic diseases such as cancer, cardiovascular diseases, and others coupled with 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.

The Centers for Disease Control and Prevention (CDC) 2022, estimated that about 20.1 million adults aged 20 and older had Coronary artery disease (CAD) in the US, in 2020.

The source mentioned above stated that in the United States, someone has a heart attack every 40 seconds. Every year, about 805,000 people in the United States have a heart attack. Out of these, 605,000 are a first heart attack, 200,000 happen to people who have already had a heart attack and about 1 in 5 heart attacks are silent-the damage is done, but the person is not aware of it.

The increasing number of product development activities in the region is further going to accelerate the growth transcatheter embolization and occlusion devices market. For example, in March 2022, Artio Medical, Inc. received the US Food and Drug Administration (FDA) clearance for its Solus Gold Embolization Device, a next-generation product for peripheral vascular occlusion.

Thus, the factors mentioned above are going to positively drive the North America transcatheter embolization and occlusion devices market forward during the forecast period.

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 Biomedica, 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 2022, Medtronic plc announced it has received approval from the United States Food and Drug Administration (FDA) for Pipeline(TM) Flex Embolization Device with Shield Technology(TM). 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 2022, 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).

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 endovascular treatment.

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

Market size analysis for current market size (2023), and market forecast for 5 years (2024-2030)

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, mergers, acquisitions, partnerships, and joint ventures happened for the 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 2023? How these segments will perform in 2030?

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?

The global transcatheter embolization and occlusion devices market was valued at USD 4.04 billion in 2023, growing at a CAGR of 9.14% during the forecast period from 2024 to 2030, to reach USD 6.84 billion by 2030.

3. What are the drivers for the global transcatheter embolization and occlusion devices market?

The major drivers driving the demand for transcatheter embolization and occlusion devices are rising technological advancement, a surge in the incidence of cardiovascular diseases, respiratory disorders, and cancer, a highly structured healthcare industry, increased adoption of minimally invasive surgeries, and an increasing geriatric population among others.

4. Who 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 Biomedica, Terumo Corporation, MicroPort Scientific Corporation, W. L. Gore & Associates, Inc., and others.

5. Which region has the highest share in the transcatheter embolization and occlusion devices market?

North America is expected to dominate the overall transcatheter embolization and occlusion devices market during the forecast period, 2024 to 2030. 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.