Market Research Report
Global Embolic Protection Devices Market - 2019-2026
|Global Embolic Protection Devices Market - 2019-2026|
Published: January 1, 2020
Delivery time: 2 business days
Embolic Protection Devices Market
The Global Embolic Protection Devices market was worth $XX billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period.
Embolic protection devices (EPDs) prevent or reduce plaque debris from reaching the distal bed and thereby have the potential to reduce adverse clinical events. They are commonly used in saphenous vein graft (SVG) interventions and during carotid artery stenting procedures
Global Embolic Protection Devices Market - Market Dynamics
The Global Market for Embolic Protection Devices is driven by the increase in the number of minimally invasive interventional surgeries such as TAVR and CAS which require EPDs, increase in the number of patients with Cardiovascular, Neural and Peripheral diseases, improvements in technology and the increasing healthcare spending in the emerging markets.
Cardiovascular diseases affected more than 400 million people and were responsible for more than 17 million deaths in 2016, with the number expected to rise to more than 23 million by 2030 as per the WHO. Strokes due to these diseases are the second largest cause of death globally with 15 million new strokes causing 5.7 million deaths in 2016 with over 85% of all strokes being ischemic strokes caused by embolisms. The rise in the prevalence of these diseases should result in a higher number of procedures performed for their treatment, which should drive the demand for embolic protection devices.
Minimally invasive interventional surgeries like TAVR and CAS have seen a rapid rise in the number of procedures performed due to their lower risk and other advantages. The market for TAVR alone has grown by more than 40% annually from just over 4500 procedures in 2012 to almost 35,000 procedures in 2016 and is expected to continue growing at a similar pace. There is a high risk of embolism occurring during these surgeries and thus the use of embolic protection devices is mandated to receive Medicaid reimbursement for some surgeries such as CAS. Thus, we can expect the market for embolic protection devices to witness high demand.
The geriatric population is at a significantly higher risk of cardiovascular, Neurovascular and Peripheral vascular diseases as compared to the general population. With the global population over the age of 65 expected to rise from over 900 million in 2017 to over 2 billion in 2050, the demand for treatment for these diseases is expected to rise significantly.
The Global Market for Embolic Protection Devices is restrained by the low number of FDA approved devices, availability of alternative methods of prevention and the high cost of these devices.
The typical cost of embolic protection devices is very high and can range up to $6,000 per device. Such high costs are preventing the usage of these devices except for cases where there is a very high risk of damage due to embolisms. Alternative methods for embolic protection such as anticoagulants, glycoprotein inhibitors, vasodilators and lasers can be used to prevent the formation of embolisms while avoiding the complications associated with the use of embolic protection devices.
Global Embolic Protection Devices Market - Segment Analysis
Based on product the global market for Embolic Protection Devices is broadly segmented as - By Type, By Application, By End-Users.
By Type, The Global Market for Embolic Protection Devices is segmented into Distal Occlusion, Distal Filter and Proximal Occlusion Devices. The Global Market is led by Distal Filter systems. This is due to their lower risk of intolerance combined with antegrade flow allowance and ease of use as compared to Proximal or Distal occlusion devices. Proximal Occlusion Devices are the newest development in the market and are expected to grow at a high CAGR during the forecast period due to their higher effectiveness in clinical trials along with other advantages such as non-disturbance of lesions during surgery over distal filters.
By Application, the Global Market for Embolic Protection Devices is segmented into Neurovascular, Cardiovascular and Peripheral Vascular protection systems. The Global Market is led by the Cardiovascular protection systems followed by peripheral protection systems. This is due to the higher number of coronary and peripheral surgeries such as CABG and TAVR being performed each year.
By End-Users, The Global Market for Embolic Protection Devices is bifurcated into Hospitals and ASCs. The Global Market is led by Hospitals due to the relatively invasive nature of current surgeries. Ambulatory clinics are expected to grow at the fastest pace and overtake the hospital market share in the forecast period. This is due to the shift towards minimally invasive interventional surgeries which can be treated at a lower cost in ambulatory clinics.
Global Embolic Protection Devices Market - Geographical Analysis
The Global Embolic Protection Devices Market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa.
North America dominates the global market for embolic protection devices. This is due to the significantly higher prevalence of cardiovascular disorders, increase in the geriatric population, higher awareness and the presence of excellent healthcare infrastructure.
Cardiovascular Disorders were responsible for almost 31% of deaths in the US as per the AHA. More than 46% of US adults suffer from hypertension. North America has the highest rate of prevalence of Cardiovascular Disorders due to the rapid rise in obesity and other risk factors in the population. The size of the geriatric population is also expected to rise rapidly with the number of people over the age of 65 expected to rise from 46 million in 2016 to over 98 million in 2060 in the US alone thus creating a potential rise in the number of cardiac procedures performed.
Europe is the largest market after North America for embolic protection devices. This is attributed to the market's significant and rising geriatric and obese population combined with an excellent healthcare infrastructure base.
Asia-Pacific is expected to be the fastest growing market in the forecast period. This can be attributed to the large population of the market combined with the increase in the population at risk such as the geriatric and obese population.
Global Embolic Protection Devices Market - Competitive Analysis
Key Competitive Scenario -
The Global Market for embolic protection devices is relatively concentrated but is highly competitive. This is due to the high level of R&D required to develop and certify these devices combined with the high margins. Increasing competition from newly certified products is expected to drive down the prices of these devices leading to lower margins.
Key players in the market are acquiring other players, increasing R&D spending and launching new products. The market is witnessing entry from a large number of startups who are developing innovative solutions. The market has seen significant M&A activity, with large integrated healthcare companies such as Medtronic and Boston Scientific acquiring a significant number of startups and established companies.
List of major market players for embolic protection devices market are Medtronic Plc., Boston Scientific Corporation, Cardinal Health Inc., Abbott Laboratories, Innovative Cardiovascular Solutions LLC, W. L. Gore & Associates, Inc., Silk Road Medical Inc., InspireMD Inc., Emboline Inc., and Contego Medical LLC., among others
Recent News -
December 26, 2018 - Venus MedTech (Hangzhou) Inc., the preeminent Chinese transcatheter heart valve company, announced the closing of its merger with Keystone Heart Ltd., a privately-held medical device company and makers of TriGUARD 3™.
December 7, 2018 - Contego Medical, LLC announced that the FDA had granted 510(k) clearance for the company's Vanguard IEP peripheral balloon angioplasty system with integrated embolic protection (IEP).
July 20, 2018 - Boston Scientific Corporation (NYSE: BSX) announced that it had signed an agreement to acquire Claret Medical, Inc., a privately-held company that developed and commercialised the Sentinel® Cerebral Embolic Protection System. The Sentinel System is the only device cleared to protect patients against the risk of stroke during TAVR, a minimally-invasive procedure to replace the aortic valve in patients with severe aortic stenosis.
June 5, 2018 - Emboline, Inc. announced the completion of its initial series of human clinical cases using its Emboliner embolic protection catheter, which is designed for use during transcatheter aortic valve replacement (TAVR) procedures.
Global Embolic Protection Devices Market Methodology and Scope
Global Embolic Protection Devices Market - By Type