|
Forecast
Period
|
2025-2029
|
|
Market
Size (2023)
|
USD
2.52 billion
|
|
Market
Size (2029)
|
USD
3.64 billion
|
|
CAGR
(2024-2029)
|
6.80%
|
|
Fastest
Growing Segment
|
Non-Coil
|
|
Largest
Market
|
North
America
|
Market Overview
Global
Transcatheter Embolization And Occlusion Devices Market was valued at USD 2.52 billion in 2023 and is anticipated to project impressive growth in the forecast
period with a CAGR of 6.80% through 2029. In the realm of medical devices,
these products are instrumental in addressing cancers affecting various organs
such as the kidneys, lungs, and liver. A significant change in the treatment
approach, transitioning from traditional clipping to the modern coiling
technique, has led to an increased need for transcatheter embolization devices. These devices play a crucial role in treating aneurysms, eliminating
abnormal connections between arteries and veins, halting blood flow to tumors,
and managing or preventing abnormal bleeding.
Key Market Drivers
Increasing
Prevalence of Chronic Diseases
The
prevalence of chronic diseases, such as kidney, lung, and liver malignancies,
is on the rise globally. This alarming trend has spurred a demand for advanced,
minimally invasive medical interventions, and it's in this context that
transcatheter embolization and occlusion devices are playing a pivotal role.
Chronic
diseases, often characterized by long-term, debilitating health conditions,
have become a worldwide health epidemic. They encompass a broad spectrum of
ailments, from various cancers to vascular anomalies like aneurysms. The
growing burden of these diseases on healthcare systems and patients has
amplified the need for innovative treatment options.
Traditionally,
many chronic diseases required open surgeries, which were often associated with
longer recovery times, higher costs, and increased risks. In contrast,
transcatheter embolization and occlusion devices offer minimally invasive
alternatives that promise quicker recovery, shorter hospital stays, and reduced
post-operative complications. Patients and healthcare providers are
increasingly opting for these less invasive procedures, driving the market's
growth.
Transcatheter
embolization devices are highly effective in treating cancers, particularly
those located in the kidneys, lungs, and liver. These devices work by
obstructing the blood supply to tumors, starving them of vital nutrients, and
causing their regression. The increasing prevalence of cancer cases has driven
demand for these devices, as they provide a less invasive means of tumor
management.
Beyond
cancer, transcatheter embolization and occlusion devices offer solutions for a
wide array of vascular conditions, including aneurysms and the management of
abnormal connections between arteries and veins. The ability to effectively
address a spectrum of disorders within one medical field adds to the appeal of
these devices, further spurring market growth.
Continuous
innovation in the field of transcatheter embolization and occlusion devices has
led to enhanced precision, efficiency, and safety. Improved materials, advanced
imaging techniques, and navigational systems have broadened the range of
treatable conditions and made the procedures even more appealing to both
patients and healthcare providers.
Patient-centric
care is becoming increasingly important in the healthcare sector. Patients are
more empowered and informed, and they often seek treatments that align with
their preferences and well-being. Transcatheter embolization and occlusion
procedures align with this trend, offering patients a minimally invasive, less
disruptive option for treating chronic diseases.
In
an era of rising healthcare costs, the cost-effectiveness of transcatheter
embolization and occlusion procedures is a significant driver of market growth.
Shorter hospital stays, fewer post-operative complications, and overall lower
healthcare expenditures make these procedures an attractive option for both
healthcare systems and patients.
Shift
towards Minimally Invasive Procedures
The
realm of medical procedures is undergoing a profound transformation, marked by
a noticeable shift towards minimally invasive techniques. This shift has not
only changed the way patients experience medical treatments but has also played
a pivotal role in the remarkable growth of the global transcatheter
embolization and occlusion devices market.
Traditionally,
many medical treatments required invasive surgeries, which often came with
extended recovery times, higher healthcare costs, and increased risks for
patients. However, the emergence of minimally invasive procedures has
revolutionized the healthcare landscape. These procedures, including those
employing transcatheter embolization and occlusion devices, have led to shorter
recovery periods, reduced hospital stays, and fewer post-operative
complications.
Patients
are increasingly prioritizing their well-being and quality of life when making
healthcare decisions. Minimally invasive procedures align with these values as
they cause less disruption to a patient's life. Patients can often return to
their daily routines sooner after minimally invasive treatments, which can have
a significant positive impact on their overall experience and satisfaction.
The
shift towards minimally invasive procedures has given rise to heightened
patient demand. Patients are now more informed about their healthcare options
and are actively seeking treatments that are less invasive and more
comfortable. As patients advocate for procedures that offer quicker recovery
times and improved comfort, the demand for devices such as transcatheter
embolization and occlusion tools is on the rise.
Minimally
invasive procedures are becoming increasingly popular among healthcare
providers due to their numerous benefits. These procedures are often associated
with shorter surgical times, reduced healthcare costs, and decreased
post-operative complications. Healthcare providers are recognizing that
embracing minimally invasive techniques, including transcatheter embolization
and occlusion, can lead to improved patient outcomes and operational
efficiencies.
Transcatheter
embolization and occlusion devices are no longer limited to a niche medical
field. They now address a diverse range of medical conditions, from cancer
treatment to the management of vascular anomalies. The growing number of
applications has broadened their appeal and contributed to market expansion.
Growing
Awareness Among Healthcare Providers
The
global healthcare landscape is continually evolving, driven by advancements in
medical technology and the knowledge base of healthcare providers. One
significant factor propelling the growth of the global transcatheter
embolization and occlusion devices market is the increasing awareness among
healthcare professionals.
Healthcare
providers, including physicians and surgeons, are at the forefront of patient
care. As they become more acquainted with transcatheter embolization and
occlusion devices, they gain access to new and effective treatment options for
a wide range of medical conditions. This awareness helps them better address
patient needs and offer advanced, minimally invasive treatments.
Transcatheter
embolization and occlusion devices have transcended their traditional
applications and can now be used to treat a myriad of medical conditions. From
cancer management to vascular anomalies and aneurysms, these devices provide
versatile solutions that healthcare providers can offer to their patients. As
healthcare professionals learn about these diverse applications, they are more
likely to incorporate them into their practice.
Healthcare
providers are driven by the goal of achieving the best possible outcomes for
their patients. Transcatheter embolization and occlusion procedures have
demonstrated their efficacy in improving patient outcomes, often resulting in
quicker recovery times, reduced hospital stays, and fewer post-operative
complications. As healthcare providers become more aware of these benefits,
they are inclined to recommend and perform these procedures, thus driving
market growth.
The
medical community places a significant emphasis on continuous learning and
professional development. As awareness of transcatheter embolization and
occlusion devices grows, so does the interest in training and education related
to these technologies. Physicians and medical professionals seek to enhance
their knowledge and expertise in this field, which further promotes the
adoption and application of these devices.
The
shift towards patient-centric care places greater importance on individual
patient preferences, comfort, and overall experience. Minimally invasive
procedures, such as those involving transcatheter embolization and occlusion
devices, align with this trend. Healthcare providers who prioritize patient
well-being and satisfaction increasingly opt for these procedures, contributing
to the market's growth.
Expanding
Geriatric Population
The
world is undergoing a demographic transformation with a rapidly increasing
elderly population. This demographic shift is bringing profound changes to
various sectors, including healthcare. One area where the impact is
particularly notable is in the demand for advanced medical procedures and
devices.
The
global population is aging at an unprecedented rate, with the number of elderly
individuals (aged 65 and over) expanding at a remarkable pace. This phenomenon
is often referred to as the "silver tsunami" and is reshaping
healthcare systems and markets worldwide. As the geriatric population grows, so
too does the prevalence of age-related medical conditions, many of which can be
effectively managed with transcatheter embolization and occlusion devices.
Aging
is often associated with an increased risk of various health conditions,
including chronic diseases and vascular disorders. The geriatric population is
more prone to conditions such as kidney, lung, and liver malignancies, as well
as aneurysms and vascular anomalies. Transcatheter embolization and occlusion
devices offer minimally invasive treatment options that are well-suited for
elderly patients, contributing to their popularity.
The
healthcare industry is continually advancing, offering more sophisticated and
less invasive treatment options for elderly patients. Transcatheter
embolization and occlusion devices are at the forefront of these innovations,
providing minimally invasive solutions that cater to the unique needs and
health challenges of older individuals.
Elderly
individuals often prioritize maintaining a good quality of life, even in the
presence of age-related health conditions. Transcatheter embolization and
occlusion procedures align with this goal by offering quicker recovery times,
shorter hospital stays, and fewer post-operative complications. For the
geriatric population, these advantages are particularly appealing and can
significantly enhance their quality of life.
Geriatric
care requires specialized attention, and healthcare providers are increasingly
tailoring their services to meet the unique needs of older patients.
Transcatheter embolization and occlusion devices have found their place in
geriatric care as they allow for effective treatment with less strain on
elderly patients, ensuring that their healthcare experience is as comfortable
and efficient as possible.
In
an era of increasing healthcare costs, healthcare systems are seeking efficient
and cost-effective solutions for their aging populations. Transcatheter
embolization and occlusion procedures offer shorter hospital stays and fewer
post-operative complications, translating to cost savings for healthcare
providers and systems. As a result, these procedures are becoming increasingly
popular among geriatric care providers.
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Key Market Challenges
Competition
and Market Saturation
As
the market for transcatheter embolization and occlusion devices continues to
grow, competition is intensifying. Manufacturers must strive to differentiate
their products and offer unique advantages to remain competitive. Market
saturation is another concern, as new entrants face challenges breaking into a
crowded marketplace.
Variability
in Patient Populations
The
effectiveness of transcatheter embolization and occlusion procedures can vary
depending on patient demographics, including age, health status, and the nature
of the medical condition being treated. As the patient population becomes more
diverse and complex, healthcare providers must adapt their approaches and
customize treatments to address these variations.
Ethical
and Social Concerns
Minimally
invasive procedures, while often more desirable for patients, raise ethical and
social concerns. Some individuals and cultures may have reservations about such
procedures, which can limit their adoption. Addressing these concerns requires
effective communication and education about the benefits and safety of these
treatments.
Key Market Trends
Hybrid
Procedures
Hybrid
procedures that combine transcatheter embolization and occlusion with other
minimally invasive techniques are emerging as a promising trend. These
combinations allow for more comprehensive treatment of complex medical
conditions and are expected to become more common in the coming years.
Telemedicine
and Remote Consultations
The
COVID-19 pandemic has accelerated the adoption of telemedicine and remote
consultations. This trend is likely to continue, making it easier for patients
to connect with healthcare providers for pre- and post-procedural
consultations. Telemedicine will play a significant role in patient follow-up
and monitoring, enhancing the overall patient experience.
Value-Based
Healthcare
Value-based
healthcare is a growing trend aimed at providing better care at a lower cost.
Transcatheter embolization and occlusion procedures, which often lead to
shorter hospital stays and reduced complications, align with this approach. As
healthcare systems focus more on value, the adoption of these procedures may
increase.
Segmental Insights
Product
Insights
Based
on Product, the non-coil category emerged as the primary source
of revenue in 2023 and is poised for the most rapid growth throughout the
projected period. This growth is attributed to the increasing favorability of
minimally invasive surgical procedures, which has generated heightened demand
for these devices. Non-coils are the preferred choice due to their reduced
likelihood of migration, offering a significant advantage over coil-type
alternatives. The non-coils exhibit lower risks of hemolysis, as
their materials do not disrupt the bloodstream's flow. Non-coils are
exclusively employed in managing large defects, as coils are unsuitable for
such scenarios.
Regarding
product categorization, the transcatheter embolization and occlusion devices
market is divided into two segments: coils and non-coils. The non-coil segment
encompasses various subcategories, including coiling assist devices,
flow-diverting devices, embolization particles, liquid embolic agents, other
embolization and occlusion devices, as well as associated accessories. These
devices effectively address issues such as inaccurate deployment, catheter
entrapment, and balloon deflation commonly associated with coiling procedures.
Application
Insights
Based on application, Neurology sector domiate the market. The
rising incidence of severe neurological disorders worldwide, such as brain
aneurysms and cerebral arteriovenous malformations, is anticipated to drive
growth in the neurology sector. According to data from the Society of
NeuroInterventional Surgery, the market currently offers more than 140
Guglielmi detachable coils in various sizes, which have been employed in the
treatment of over 125,000 patients worldwide. Consequently, the brain aneurysm
market is poised for significant expansion during the projected period.
On
the other hand, the oncology sector is projected to experience the highest CAGR
up to 2030, primarily due to the effective application of embolization
techniques in addressing liver and kidney cancer cases. Embolization has
emerged as a pivotal treatment modality for various cancer types, including
liver, kidney, breast, pancreatic, among others. Among these, hepatocellular
carcinoma, a form of liver cancer, is the most prevalent condition treated
using embolization procedures. As per information from the National Center for
Biotechnology Information, hepatocellular carcinoma ranks as the third leading
cause of cancer-related fatalities on a global scale.
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Regional Insights
Based on region, North America took the lead in the market, securing a significant revenue
share in 2023. This dominance is attributed to several key factors, including the
region's advanced healthcare infrastructure, a well-defined regulatory
framework, and a pool of experienced healthcare professionals. The presence of a well-established pharmaceutical industry plays a pivotal role
in driving the demand for transcatheter embolization and occlusion (TEO)
devices. The Centers for Disease Control and Prevention (CDC) reports that
these devices find application in cases of atrial fibrillation and varicose
veins. Atrial fibrillation alone affects approximately 454,000 individuals
annually, and varicose veins are prevalent in 23% of U.S. adults.
On
the other hand, the Asia Pacific region is poised to experience the most rapid
CAGR during the forecast period. This growth is fueled by the booming medical
tourism industry in emerging economies such as India, China, and Malaysia,
which attracts cancer patients from across the globe. The region
boasts the largest population pool and a substantial geriatric population.
According to a World Health Organization (WHO) report, the Asia Pacific region
is home to 414 million people aged above 60. It is anticipated that by 2050,
40% of the populations in Hong Kong and Japan will be over the age of 65, and
this demographic is particularly susceptible to cardiovascular diseases (CVDs).
Transcatheter embolization offers a minimally invasive treatment option for
these conditions.
Recent Developments
- In April 2022, Boston Scientific Corporation unveiled a milestone achievement with the acquisition of FDA 510(k) clearance for its groundbreaking 'Embold' Fibered Detachable Coil. Designed to revolutionize vascular interventions, this innovative medical device targets the obstruction or reduction of blood flow rates within the peripheral vasculature. Engineered with advanced fiber technology, the 'Embold' Coil offers enhanced precision and efficacy in addressing vascular conditions. This regulatory clearance underscores Boston Scientific's commitment to advancing patient care through innovative medical solutions, providing healthcare professionals with a powerful tool to improve outcomes for patients with peripheral vascular disorders.
- In
July 2021, Terumo Corporation unveiled its groundbreaking AZUR Vascular Plug, a
product designed to work seamlessly with microcatheters for the purpose of
occluding arteries with diameters of up to 8mm. As an integral component of the
company's robust embolization product portfolio, the AZUR Vascular Plug is
strategically developed for the purpose of reducing or impeding blood flow
within the arterial pathways of the peripheral vasculature.
Key Market Players
- Boston Scientific Corp
- Terumo Corp
- Medtronic PLC
- DePuy Synthes Inc
- Stryker Corp
- Cordis Corp
- Abbott Laboratories Inc
- Pfizer Inc
- Sirtex Medical Inc
- Nordion Inc
|
By Product
|
By Application
|
By Region
|
|
|
- Peripheral Vascular Disease
- Oncology
- Neurology
- Urology
- Others
|
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
|
Report
Scope:
In
this report, the Global Transcatheter Embolization And Occlusion Devices Market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Transcatheter Embolization And
Occlusion Devices Market,
By Product:
o Coil
§ Pushable Coils
§ Detachable Coils
o Non-Coil
§ Flow Diverting Devices
§ Embolization Particles
§ Liquid Embolics
§ Other Embolization and Occlusion Devices
§ Accessories
- Transcatheter Embolization And
Occlusion Devices Market,
By Application:
o Peripheral Vascular Disease
o Oncology
o Neurology
o Urology
o Others
- Transcatheter Embolization And
Occlusion Devices Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ Germany
§ United Kingdom
§ France
§ Italy
§ Spain
o Asia-Pacific
§ China
§ Japan
§ India
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Transcatheter
Embolization And Occlusion Devices Market.
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Customizations:
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Transcatheter Embolization And Occlusion Devices market report with the
given market data, Tech Sci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company
Information
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additional market players (up to five).
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Transcatheter Embolization And Occlusion Devices Market is an upcoming report
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