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

Transcatheter Embolization and Occlusion Devices Market by Type (Coiled [Pushable Coils, Detachable Coils], Non-Coiled [Flow Diverting Devices, Embolization Particles, Liquid Embolic, Others]), Application (Peripheral Vascular Disease, Oncology, Neurology, Urology, Others), End-User (Hospitals & Clinics, Ambulatory Surgical Centers, and others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a respectable CAGR forecast till 2030 owing to the increasing cases of chronic disorders and the rising product developmental activities globally

The transcatheter embolization and occlusion devices market was valued at USD 3.71 billion in 2023, growing at a CAGR of 9.14% during the forecast period from 2024 to 2030, to reach USD 6.25 billion by 2030. The transcatheter embolization and occlusion devices market is growing significantly due to the increasing cases of chronic disorders such as cardiovascular diseases including heart attack, atrial fibrillation, and coronary artery disease; respiratory disorders like asthma, chronic obstructive pulmonary disease (COPD), rising product developmental activities by key players, among others are expected to drive the market for transcatheter embolization and occlusion devices during the forecast period from 2024 to 2030.

Transcatheter Embolization and Occlusion Devices Market Dynamics:

As per recent data provided by the World Heart Report (2023), in 2021, more than half a billion people were living with cardiovascular diseases globally. Further, according to recent data provided by the American Heart Association (2023), it is estimated that by 2030, over 12 million people will have atrial fibrillation globally. Transcatheter embolization and occlusion devices are utilized to treat complications such as aneurysms & arteriovenous malformations and to control bleeding in cardiovascular diseases. In atrial fibrillation, these devices are used in procedures like left atrial appendage occlusion to prevent stroke by blocking off the appendage where blood clots can form thereby boosting the market of transcatheter embolization and occlusion devices.

According to data provided by the WHO (2024), in 2019 there were 262 million people affected by asthma. Additionally in 2023, 392 million people were living with Chronic Obstructive Pulmonary Disorder (COPD) with three-quarters of them living in low and middle-income countries. As respiratory diseases often lead to complications such as asthma and COPD, transcatheter embolization and occlusion devices are utilized in the management of complications arising from these respiratory diseases. For example, bronchial artery embolization is employed to control severe hemoptysis (coughing up blood), a serious complication of asthma & COPD and thereby escalating the overall market of transcatheter embolization and occlusion devices.

The product developmental activities across the globe such as product launches are also expected to push forward the revenue shares of the transcatheter embolization and occlusion devices market. For example, in July 2021, Terumo Corporation launched the AZUR Vascular Plug, which was the first and only plug compatible with a microcatheter to occlude arteries up to 8mm in diameter, became the latest addition to Terumo's extensive embolization portfolio. It was indicated for use in reducing or blocking the rate of blood flow in arteries within the peripheral vasculature.

Therefore, the factors stated above collectively will drive the overall transcatheter embolization and occlusion devices market during the forecast period from 2024 to 2030.

However, complications such as infection or damage to blood vessels during the procedure, the requirement of skilled physicians, and others may limit their end-user base, thus acting as key constraints limiting the growth of the transcatheter embolization and occlusion devices.

Transcatheter Embolization and Occlusion Devices Market Segment Analysis:

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

In the type segment of transcatheter embolization and occlusion devices, the coiled category is expected to have a significant revenue share in the year 2023. The rapid growth of this product category can be attributed to the features of the coiled category. These are made from materials like platinum or stainless steel and are designed to conform to blood vessels, promoting clot formation and blocking blood flow. They come in various sizes, can be pushable or detachable, and may have enhancements like hydrogel coatings for better clotting. These devices are radiopaque for visibility during procedures and compatible with advanced microcatheters, allowing the treatment of smaller vessels with precision and safety.

New product approvals are also likely to upsurge the market for these. 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, in April 2022, Boston Scientific Corporation announced that it had received FDA 510(k) clearance for its innovative 'Embold' fibered detachable coil. This medical device is specifically indicated for obstructing or reducing the rate of blood flow in the peripheral vasculature.

Therefore, owing to all the above-mentioned factors, the demand for the coiled category is expected to witness considerable growth eventually contributing to the overall growth of the transcatheter embolization and occlusion devices market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall transcatheter embolization and occlusion devices market:

Among all the regions, North America is expected to dominate the transcatheter embolization and occlusion devices market in the year 2023 and is expected to do the same during the forecast period from 2024 to 2030. This is due to the large patient pool suffering from respiratory disorders such as COPD and cancer with associated risk factors in the US. Furthermore, the use of modern medical equipment encouraged by powerful regulatory frameworks in the region is expected to drive the market for transcatheter embolization and occlusion devices during the forecast period from 2024 to 2030.

According to data from the American Lung Association (2024), in 2023, it was stated that approximately 11.7 million people in the US were living with chronic respiratory disorders, which over time makes it harder for patients to breathe. Furthermore, as per the data provided by the CDC (2023), in 2021, around 14.2 million people in the US had COPD. These devices are crucial in managing severe pulmonary hemorrhage a common and life-threatening complication in advanced respiratory diseases. Bronchial artery embolization, using these devices, is a minimally invasive and effective treatment for controlling lung bleeding. Hence, the rise in respiratory disorders upsurges the demand for transcatheter embolization and occlusion devices.

National Cancer Institute (2024) estimated that 2 million new cases of cancer will be diagnosed in the US by the end of 2024. Additionally, it is estimated that 14,910 children and adolescents aged 13 to 19 will be diagnosed with cancer. According to Global Cancer Observatory's updated data in February 2024, the US represented 89.1% of all cancer cases and Canada represented 10.9% of all cancer cases in the region in 2022. Transcatheter embolization and occlusion devices are essential in various oncological procedures, such as transcatheter arterial chemoembolization (TACE), which is used to deliver chemotherapy directly to a tumor while blocking its blood supply. Therefore, a substantial rise in cancer cases uplifts the market.

Rising product launches and commercialization agreements among 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.

Therefore, the interplay of all the aforementioned factors above would provide a conducive growth environment for the North America region in the transcatheter embolization and occlusion devices market.

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 2021, Medtronic plc announced that it received approval from the United States Food and Drug Administration (FDA) for the 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) cleared Boston Scientific's TheraSphere Y-90 Glass Microspheres, an interventional radiology therapy developed for the transcatheter treatment of patients with hepatocellular carcinoma (HCC).

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

• Market size analysis for current transcatheter embolization and occlusion devices market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/services developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the transcatheter embolization and occlusion devices market
• Various opportunities available for the other competitors 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 transcatheter embolization and occlusion devices 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 Report Study

• Transcatheter embolization and occlusion devices product providers
• Research organizations and consulting companies
• Transcatheter embolization and occlusion devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in transcatheter embolization and occlusion devices
• Various end-users who want to know more about the transcatheter embolization and occlusion devices market and the latest developments in the transcatheter embolization and occlusion devices market

Frequently Asked Questions for the 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 Transcatheter Embolization and Occlusion Devices?

The transcatheter embolization and occlusion devices market was valued at USD 3.71 billion in 2023, growing at a CAGR of 9.14% during the forecast period from 2024 to 2030, to reach USD 6.25 billion by 2030.

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

The transcatheter embolization and occlusion devices market is growing significantly due to the increasing cases of chronic disorders such as cardiovascular diseases including heart attack, atrial fibrillation, and coronary artery disease; respiratory disorders like asthma, chronic obstructive pulmonary disease COPD, rising product developmental activities by key players, among others are also expected to drive the market for transcatheter embolization and occlusion devices during the forecast period from 2024 to 2030.

4. Who are the key players operating in the Transcatheter Embolization and Occlusion Devices market?

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?

Among all the regions, North America is estimated to hold a significant revenue share in the transcatheter embolization and occlusion devices market. This is due to the large patient pool suffering from respiratory disorders such as COPD and cancer with associated risk factors in the US. Furthermore, the use of modern medical equipment encouraged by powerful regulatory frameworks in the region is expected to drive the market for transcatheter embolization and occlusion devices during the forecast period from 2024 to 2030.