Transcatheter Embolization And Occlusion Devices Market to Garner Significant Profits US$ 11 Bn in 2032

New York, April 18, 2023 (GLOBE NEWSWIRE) — According to Market.us, the global transcatheter embolization and occlusion devices market was valued at US$ 4 billion in 2022 and is expected to grow US$ 11 billion in 2032. This market is estimated to register a CAGR of 9.8% between 2023 and 2032. The transcatheter embolization and occlusion devices market refers to the medical devices that are used to treat a variety of conditions, such as aneurysms, tumors, and vascular malformations, by blocking or reducing blood flow to a specific area. These devices are inserted into the body through a catheter, typically via a small incision, and are guided to the affected area using medical imaging. The market is growing due to the increasing prevalence of conditions such as aneurysms and tumors, as well as the development of new and improved devices.

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Key Takeaway:

• By type, in 2022, the Transcatheter Embolization And Occlusion Devices market was dominated by the non-coil segment due to its increased usage.
• By application, the neurology segment dominated the largest market share in application type analysis and accounted for the largest revenue share in the Transcatheter Embolization And Occlusion Devices market in 2022.
• By end-user, the hospital’s segment dominated the largest market share in end-user type analysis
• In 2022, North America dominated the market with the highest revenue share of 40%.
• APAC is anticipated to have the highest CAGR among all the regions.
• APAC is expected to grow at a greater pace owing to the increasing prevalence of chronic diseases and a growing demand for minimally invasive procedures.

Factors affecting the growth of the Transcatheter Embolization And Occlusion Devices industry?

There are several factors that are affecting the growth of the transcatheter embolization and occlusion devices industry. These include:

• Increasing incidence of chronic diseases: The growing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and neurovascular disorders, are driving the demand for transcatheter embolization and occlusion devices. These devices are used to treat a range of conditions, including aneurysms, tumors, and vascular malformations.
• Rising preference for minimally invasive procedures: There is a growing trend towards minimally invasive procedures, which has led to an increase in the use of transcatheter embolization and occlusion devices. These devices allow for shorter hospital stays, faster recovery times, and reduced risk of complications.
• Technological advancements in medical devices: Advances in medical device technology, including the development of new and improved materials and devices, are driving the growth of the market. For example, the development of detachable coils and liquid embolic agents has improved the efficacy and safety of transcatheter embolization and occlusion procedures.
• Increasing healthcare expenditure: Healthcare expenditure is increasing globally, as governments and private healthcare providers invest in new treatments and technologies. This is driving the demand for transcatheter embolization and occlusion devices, which are increasingly being used in a range of medical procedures.
• Aging population: The world’s aging population is increasing, which is leading to an increase in the incidence of chronic diseases and age-related conditions that can be treated with transcatheter embolization and occlusion devices.
• Regulatory approvals and reimbursement policies: Regulatory approvals and reimbursement policies can have a significant impact on the growth of the market. Companies that can secure regulatory approvals and reimbursement for their products are more likely to be successful in the market.

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Market Growth

The transcatheter embolization and occlusion devices market is expected to grow significantly in the coming years. The demand for transcatheter embolization and occlusion devices is being driven by the rising prevalence of chronic diseases like cancer, cardiovascular diseases, and neurovascular disorders. These devices are used to treat a variety of ailments, such as vascular abnormalities, tumors, and aneurysms. The expansion of the market is being driven by developments in medical device technology, including the creation of new and improved materials and devices. For instance, the efficacy and safety of transcatheter embolization and occlusion treatments have been improved by the development of detachable coils and liquid embolic agents. Due to rising disposable income, improved healthcare infrastructure, and expanding public knowledge of the advantages of these devices, this market is anticipated to expand in developing nations like China and India.

Regional Analysis

The North American market for transcatheter embolization and occlusion devices is expected to be the most lucrative, both in terms of revenue and market share, during the period 2022-2032. In 2022, the region saw a rise in  demand for these devices due to the high incidence of aneurysms, tumors, and other conditions that can be treated with these devices, as well as a high level of healthcare spending. The regional market for transcatheter embolization and occlusion devices reached a revenue share above 40%.

North America will likely continue to lead the projection period due to its increased R&D spending and widespread adoption of technologies (both new and old). Due to the high concentration of major players in the region, strategic partnerships, faster FDA approvals, and substantial investment in R&D, this market is expected to grow. These advancements will drive demand during the forecast period. The Asia-Pacific is expected to grow due to the increasing prevalence of chronic diseases and a growing demand for minimally invasive procedures. Countries such as China, India, and Japan are expected to be major contributors to the market. The growing medical tourism industry in countries like India, China, and Malaysia will also increase the demand for treatment screening, and diagnosis of cancer.

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Scope of the Report

Market Drivers

Transcatheter embolization and occlusion (TEO), a minimally invasive (MI) method used to limit blood flow to the tumour or other portions of the body, positions or inserts a synthetic embolus into the blood vessel using a small catheter. The market for transcatheter embolization and occlusion devices has experienced rapid growth as a result of the global burden of chronic diseases. Synthetic substances are occasionally used to coat chemotherapy drugs, performing dual actions of blood supply blocking and causing cytotoxicity. This is done in order to uncover many techniques to target malignancies. The operations also help to stop or regulate abnormal bleeding and to remove bad connections between the veins and arteries. Moreover, it helps with the treatment of aneurysms. The use of these tools has increased as a less painful substitute for open surgery with fewer incisions. These technical advancements in the sector are anticipated to lead to an increase in the global market for transcatheter embolization and occlusion devices.

Market Restraints

The market for transcatheter embolization and occlusion devices has been continuously expanding in recent years due to the increased prevalence of various medical disorders that call for these devices as well as the growing acceptance of minimally invasive treatments. The market’s expansion may be hampered by a number of problems, including high costs, a shortage of qualified specialists, regulatory obstacles, competition from other treatments, and adverse effects. However, in the years to come, the market is projected to continue to develop as a result of continued innovation and advancements in device technologies, as well as initiatives to broaden access to qualified specialists and lower costs.

Market Opportunities

Due to the growing demand for minimally invasive operations and ongoing improvements in device technology, the market for transcatheter embolization and occlusion devices is predicted to create a number of opportunities in the future years. Transcatheter embolization and occlusion devices are being developed and studied for new indications and applications, such as the treatment of prostate cancer and uterine fibroids. These additional uses may broaden the market and provide more opportunities for innovative remedies from device manufacturers. Even during minimally invasive procedures, AI and robots are being used more and more in the healthcare industry. Transcatheter embolization and occlusion devices may be combined with robotics and AI to improve accuracy and outcomes while providing new opportunities for device manufacturers.

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Report Segmentation of Transcatheter Embolization And Occlusion Devices Market

Type Insight

Non-coil segment accounted for the largest market share in 2021 at over 55%. It is expected that this will continue to rise through the forecast period. The rapid growth of this product category has been attributed to the use of these devices, which assist avoid problems including incorrect deployment, catheter entrapment, and balloon deflation brought on by coiling. Surgeons use non-coil devices more frequently in order to benefit from their advantages. Because of this, the market for transcatheter embolization and occlusion devices is growing along with the demand for medical care.

Application Insight

The market is further segmented by application into peripheral vascular disease, cancer, neurology, urology, and others. According to estimates, the neurology market for transcatheter embolization and occlusion devices will be the most lucrative in 2022, with a market value of US$1.54 billion and a predicted CAGR of 7.5%. Moreover, the oncology area is projected to generate US$ 1.2 billion and have a 27.4% revenue share. Transcatheter embolization and occlusion devices are largely employed in the field of oncology to treat malignancies in the kidney, lung, liver, and other sections of the body. These gadgets are made to restrict or reduce blood supply to the tumour, which can cause the tumour to shrink or stop it from spreading.

End User Insight

The hospital’s segment holds the top spot in the global market for 2021 and contributed more than 30% of the revenue. Hospitals’ ability to offer full medical services, such as diagnostics, treatment, and post-treatment care, is the main factor contributing to their market domination. To diagnose and treat complex medical disorders that call for transcatheter embolization and occlusion devices, hospitals frequently feature a wide range of medical specialties and cutting-edge imaging technologies.

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Market Segmentation

Based on Type

• Coil
  • Pushable Coils
  • Detachable Coils
• Non-Coil
  • Flow Diverting Devices
  • Embolization Particles
  • Liquid Embolics
  • Others

Based on Application

Based on End-User

• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Other End-User

By Geography

• • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe

• • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC

• • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America

• • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Competitive Landscape

 The competitive landscape of the transcatheter embolization and occlusion devices market is characterized by the presence of a few key players who hold a significant market share.

Some of the major players include:

Recent Development of the Transcatheter Embolization And Occlusion Devices Market

• According to a statement from Medtronic plc, the US Food and Drug Administration (FDA) authorised the PipelineTM Flex Embolization Device with Shield TechnologyTM in April 2021. In order to advance flow diversion therapy, Medtronic introduced the first surface-modified implant device that shows a reduction in material thrombogenicity, or a reduction in the tendency of the surface treatment material to create clots. Shield Technology is a proprietary advancement in biomaterial science.
• In March 2021, the FDA approved Boston Scientific’s TheraSphere Y-90 Glass Microspheres, an interventional radiology therapy used to treat hepatocellular carcinoma patients transcatheter. (HCC).

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