PUBLISHER: The Business Research Company | PRODUCT CODE: 1526846
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526846
Transcatheter Embolization and Occlusion Devices are medical instruments employed in minimally invasive procedures to halt blood flow in specific regions of the body. These devices are introduced via a catheter, a slender, flexible tube inserted into the vascular system. The primary objective of these interventions is to address various medical conditions by obstructing blood supply to particular tissues or organs.
The principal types of transcatheter embolization and occlusion devices include coil and non-coil variants. Coil devices are small, wire-like structures utilized in transcatheter embolization procedures to obstruct blood flow to targeted areas, often employed in the treatment of aneurysms or to impede blood flow to tumors. They find applications across domains such as peripheral vascular disease, oncology, neurology, urology, among others, and are utilized by end-users including hospitals, ambulatory surgical centers, clinics, and others.
The transcatheter embolization and occlusion devices market research report is one of a series of new reports from The Business Research Company that provides transcatheter embolization and occlusion devices market statistics, including the transcatheter embolization and occlusion devices industry global market size, regional shares, competitors with transcatheter embolization and occlusion devices market share, detailed transcatheter embolization and occlusion devices market segments, market trends, and opportunities, and any further data you may need to thrive in the transcatheter embolization and occlusion devices industry. These transcatheter embolization and occlusion devices market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The transcatheter embolization and occlusion devices market size has grown rapidly in recent years. It will grow from $4.31 billion in 2023 to $4.76 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The expansion observed during the historical period can be attributed to several factors, including the growth in the target patient population base, a rising number of minimally invasive vascular surgeries, an increase in cases of vascular diseases, an uptick in chronic disease instances, and the demand for effective treatment alternatives.
The transcatheter embolization and occlusion devices market size is expected to see rapid growth in the next few years. It will grow to $7.13 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The anticipated growth in the forecast period can be attributed to several factors, including increasing research and development activities, expansion in the healthcare sector, the proliferation of minimally invasive techniques, a growing elderly population, and heightened workshops and awareness initiatives among the public. Key trends expected in the forecast period encompass technological advancements, progressions in imaging technology, the integration of artificial intelligence and machine learning, ongoing enhancements in device design, and advancements in delivery systems.
The increasing demand for minimally invasive techniques is poised to drive the expansion of the transcatheter embolization and occlusion devices market in the foreseeable future. Minimally invasive surgeries involve using small incisions or natural body openings to access and treat internal structures, organs, or tissues, thereby minimizing trauma to the patient's body. Transcatheter embolization and occlusion devices play a vital role in these techniques, offering numerous advantages such as reduced invasiveness, shorter recovery periods, targeted treatment, decreased pain, lower complication risks, and the potential for outpatient procedures. For example, data from Intuitive Surgical Inc., a US-based technology corporation specializing in minimally invasive medical products, indicated that approximately 1,875,000 surgical procedures were performed using da Vinci surgical systems in 2022, marking an 18% increase from about 1,594,000 procedures conducted in 2021. Hence, the growing demand for minimally invasive techniques is a key driver for the transcatheter embolization and occlusion devices market.
Major players in the transcatheter embolization and occlusion devices market are innovating by developing technologically advanced products with enhanced features, such as multi-catheter compatibility, to better serve customers and maintain a competitive edge in the market. Multi-catheter compatibility allows these devices to be used with various types of catheters during interventional procedures, providing healthcare providers with greater flexibility and efficiency in performing transcatheter embolization and occlusion procedures. For instance, in April 2022, Boston Scientific, a US-based medical products company, obtained FDA clearance for its EMBOLD Fibered Detachable Coil, designed for embolization procedures in the peripheral vasculature. This device, part of the interventional oncology portfolio, aims to obstruct or reduce blood flow in targeted vessels, addressing conditions such as hemorrhaging, aneurysms, tumor reduction, and venous abnormalities. Featuring multi-catheter compatibility and a nitinol delivery system to prevent kinks, the coil streamlines procedures, reduces potential complications, and enhances efficiency.
In August 2022, Boston Scientific, a US-based medical products company, acquired Obsidio Inc. for an undisclosed sum. This acquisition strengthens Boston Scientific's portfolio in interventional oncology and embolization, offering a novel solution for improved patient outcomes. Obsidio Inc., a US-based medical device company, is at the forefront of developing a universal transcatheter embolic hydrogel (GEM) designed for minimally invasive delivery.
Major companies operating in the transcatheter embolization and occlusion devices market are Pfizer Inc., Johnson & Johnson Services Inc., Abbott Laboratories, Medtronic Inc., Stryker Corporation, Boston Scientific Corporation, Edwards Lifesciences Corporation, Terumo Corporation, Teleflex Incorporated, Cook Medical, Merit Medical Systems Inc., Penumbra Inc., AtriCure Inc, Nordion Inc., Sirtex Medical Limited, Cordis Corporation, OpSens Inc., pfm medical ag, Micro Interventional Devices Inc., Acandis GmbH, Metactive Medical Inc.
North America was the largest region in the transcatheter embolization and occlusion devices market in 2023. The regions covered in the transcatheter embolization and occlusion devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the transcatheter embolization and occlusion devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The transcatheter embolization and occlusion devices market consists of sales of microspheres, gelatin sponges, and coil-assisted detachable balloons. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Transcatheter Embolization And Occlusion Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on transcatheter embolization and occlusion devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for transcatheter embolization and occlusion devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The transcatheter embolization and occlusion devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.