PUBLISHER: Grand View Research | PRODUCT CODE: 1363306
PUBLISHER: Grand View Research | PRODUCT CODE: 1363306
The global transcatheter embolization and occlusion devices market size is expected to reach USD 8.54 billion by 2030, registering a CAGR of 7.0% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The global market is anticipated to register a strong CAGR of 9.7% from 2019 to 2026. Key drivers of the TEO devices market include increasing adoption of minimally invasive surgeries and rising prevalence of cancer.
In addition, wide usage of embolization technique as a treatment for conditions other than cancer, such as vascular malformations and fibrosis, is fueling the demand for TEO devices globally. Furthermore, introduction of technically advanced products with enhanced efficiency is supporting the global market growth. On the other hand, high cost, stringent regulatory approval procedures, and requirement of experienced healthcare professionals to perform TEO procedures are some of the factors that may have a negative impact on the market development.
Asia Pacific TEO devices market is anticipated to witness highest CAGR from 2019 to 2026 due to increasing healthcare expenditure and improving healthcare infrastructure. Rapid expansion of medical tourism industry in the emerging countries of APAC is also boosting the demand for TEO devices. Brazil was the highest revenue-generating country in Latin America in 2018. Improving healthcare services, growing medical tourism industry, and availability of regulatory framework in the country are further driving the market in Brazil