Market Research Report
Embolic Protection Devices Market - Forecasts from 2021 to 2026
|Embolic Protection Devices Market - Forecasts from 2021 to 2026|
Published: October 1, 2021
Knowledge Sourcing Intelligence
Content info: 110 Pages
Delivery time: 1-2 business days
The embolic protection devices market is projected to grow at a CAGR of 7.63% to reach US$1,278.309 million by 2026, from US$764.000 million in 2019. During stenting, embolic protection devices (EPDs) collect blood and luminal debris within the SVG, minimizing distant embolization. It provides the most reliable evidence-based approach for preventing periprocedural MI and major adverse cardiovascular events (MACE) during SVG procedures. The number of problems caused by debris being released into the circulation and causing blockages in smaller arteries has decreased because of the introduction of embolic protection devices (EPD) during percutaneous cardiac operations. This device is meant to catch and remove any material that may become dislodged during operations. Embolic protection devices (EPDs) have the potential to minimize unfavorable clinical outcomes by preventing or reducing plaque particles from entering the distal bed. They are commonly utilized in carotid artery stenting and saphenous vein graft (SVG) procedures. They're also being tried in other vascular beds, such as the renal arteries, although their effectiveness in overcoming clinically relevant results has yet to be determined in these vascular beds.
The growing prevalence of cardiovascular and neurovascular disorders is driving the worldwide embolic protection devices market. More than 92 million Americans, according to the American Heart Association, have some kind of cardiovascular disease. The need for different surgical and non-surgical treatments would increase as the prevalence of cardiovascular illnesses rises. Other factors driving market expansion include an increase in the number of Trans-catheter Aortic Valve Replacement (TAVR) systems and increased consumer knowledge of embolic devices. Additional factors expected to boost the growth of the worldwide embolic protection devices market over the projected period include rising demand for less invasive procedures and technical improvements in embolic protection devices. Furthermore, government agencies, non-governmental organizations (NGOs), and educational institutions in many areas are initiating awareness campaigns to raise knowledge of cardiovascular and neurovascular illnesses and their possible treatments. This aspect is also influencing the market's growth.
The rising incidence of cardiovascular and neurovascular disorders in North America is expected to drive the adoption of embolic protection devices in the future years. Obesity, lifestyle trends, and bad eating habits are all expected to have a favorable impact on regional market growth. The sector's growth will be boosted even more by the strong presence of key industry participants in North America. The Asia Pacific region's expansion may be linked to the region's rapidly aging population, which is susceptible to a variety of neurological, cardiovascular, and other chronic illnesses. Segmental growth will be aided by urbanization, changing lifestyles, and rising incidence of risk factors such as obesity and hypertension in the region. In the future years, the Asia Pacific embolic protection devices business will be fueled by increased government backing and healthcare reforms in countries like China.
One of the major reasons for the growth of the embolic protection devices market is rising incidences of cardiovascular diseases. The increase in the number of patients suffering from cardiovascular and neurovascular disorders is projected to propel the market forward. In a report by World Health Organization (WHO), CVDs claimed the lives of 17.9 million individuals worldwide in 2019, accounting for 32% of all fatalities. Heart attacks and strokes were responsible for 85 percent of these fatalities. Increased awareness of the need for pre-diagnostics and improved therapy would aid the industry in achieving maximum revenue in the near future. The worrisome rise in the number of deaths has drawn the attention of the government, which has resulted in an increase in public awareness campaigns. As the death rate from stroke rises, so will the number of surgical operations and drugs used to treat it. As a result, the market for embolic protection devices is expected to develop rapidly in the near future.
A major restraint in the growth of the embolic protection devices market is the high rate of product failure. The worldwide embolic protection devices market's growth is being held back by a high number of product failures and recalls. Another factor likely to hamper the global embolic protection devices market's growth during the projected period is the lack of adequate restitution policies for embolic protection devices. These factors account for the limited use of embolic protection devices and restrain its market growth.
The COVID-19 pandemic has had a great impact on the world as a whole and has led to economic breakdown and loss of life. Production activities are interrupted because of lockdown measures enforced in numerous countries. There have also been supplying chain interruptions and delays in the operations of enterprises. Trade barriers have restrained the stock. The COVID-19 impact on the embolic protection devices market has been negative owing to the production halt by industries due to the temporary lockdown implemented by several governments to break the cycle of the virus. The disruption in the demand and supply chain has further hampered the market in the forecast period. With the outbreak of viral illness and an increase in the number of COVID-19 cases throughout the world, demand for medical supplies continues to rise among healthcare professionals and the general public for preventive measures. As a result of the risk of infection spreading, surgical operations have been reduced, and the market for embolic protection devices is currently growing at a slower pace. The unfavorable conditions risen due to the COVID-19 virus have had a negative impact on the embolic protection devices market.
The market leaders for the pretreatment coating market are Abott Laboratories, Boston Scientific Inc., Medtronic Plc., Gore Medical, Cardinal Health, Innovative Cardiovascular Solutions, Emboline Inc., NIPRO, Silk Road Medical, and Keystone Heart (Venus MedTech).