- The global demand of transcatheter embolization and occlusion devices is anticipated to boost during the forecast period. Rising geriatric population base, increasing incidences of cancer, intracranial aneurysm and cardiovascular diseases and elevated preference of patients towards non-surgical procedures are high impact rendering drivers of the market. Innovation and new product development to assist non-surgical procedures along with growing support from government for increasing awareness level further drive the transcatheter embolization and occlusion devices market. Favorable government support for funding and reimbursement, such as in liver cancer patients by the UK government, further boosts the market growth.
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Transcatheter embolization and occlusion devices market is segmented into interventional neuro-radiology and peripheral vascular (PV) tumors according to indication. The PV tumors segment held the largest share in 2014 owing to rising occurrences of the disease. In terms of product segmentation, PV embolization coil held the largest share of the transcatheter embolization and occlusion devices market. However, the introduction of liquid embolics and flow diverting devices are expected to affect the share during the next seven years. Flow diverting devices are tested to be more effective in treatment of wide neck aneurysms over embolization coils.
North America market held the largest share in this market in 2014 due to technological advancement and rising healthcare spending. Europe follows America in terms of revenue for the transcatheter embolization and occlusion devices market. Growth in both the regions is due to rising population of geriatrics and patients showing promising therapeutic actions in clinical trials. Another chief driver is the continuous evolution in designs of the systems and product to meet the needs of the patient. Germany held the highest share in the European market owing to presence of many manufacturing units within the region. European transcatheter embolization and occlusion devices market is expected to boost during the forecast period due to high quality, environment friendly product manufacturing processes indicated by CE markings. APAC region is anticipated to be the fastest growing region particularly, China, India and South Korea. The inducers of this growth are increasing chronically ill patient population with cardiovascular and liver diseases and improved product portfolio.
Key market players of the transcatheter embolization and occlusion devices market include Covidien, Direct Flow Medical Inc. Boston Scientific Corporation, Cordis Corporation, Abbott Laboratories Inc., St. Jude Medical, Cook Medical, Pfizer, Lombard Medical, Mallinckrodt LLC, MicroPort Medical, Eisai Co. Ltd., JenaValve, , CeloNova BioSciences, Medtronic Inc., Jotec gmbh, Edward LifeSciences, Sirtex medical, Terumo Corporation Inc., Merit Medical Systems, DePuy Synthes, Transcatheter Technologies, Marine Polymer Technologies Inc., Nrodion, Symetis and eV3 Inc. Newer products are expected to be launched during the forecast period which have attained FDA approval such as Aorfix Flexible Stent Grafting System. These technologically advanced devices and systems are anticipated to further fuel the growth of the transcatheter embolization and occlusion devices market.
Information Source: Grand View Research
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