Transcatheter Embolization and Occlusion Devices are medical tools used in minimally invasive procedures to block blood flow in specific areas of the body. These devices are delivered through a catheter, which is a thin, flexible tube inserted into the vascular system. The primary goal of these procedures is to treat or manage various medical conditions by obstructing the blood supply to certain tissues or organs.
Sizing and Forecast
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 growth in the historic period can be attributed to an increase in the target patient population base, a rising number of minimally invasive vascular surgeries, increasing cases of vascular diseases, an increase in chronic disease cases, and the need for effective treatment options.
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 growth in the forecast period can be attributed to increasing research and development activities, an increase in the healthcare sector, growing minimally invasive techniques, an increase in the older population, and an increase in workshops and awareness among people. Major trends in the forecast period include technological advancements, advancements in imaging, integration of artificial intelligence and machine learning, continuous improvements in device design, and advancement in delivery systems.
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Segmentation & Regional Insights
The transcatheter embolization and occlusion devices market covered in this report is segmented –
1) By Type: Coil, Non-Coil
2) By Application: Peripheral Vascular Disease, Oncology, Neurology, Urology, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Clinics, Other End Users
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.
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Major Driver Impacting Market Growth
The growing demand for minimally invasive techniques is expected to propel the growth of the transcatheter embolization and occlusion devices market going forward. Minimally invasive surgeries refer to surgical approaches that use small incisions or natural body openings to access and treat internal structures, organs, or tissues to minimize trauma to the patient’s body. Transcatheter embolization and occlusion devices are integral to minimally invasive techniques, offering numerous benefits such as reduced invasiveness, shorter recovery times, localized treatment, less pain, lower risk of complications, and the potential for outpatient procedures. For instance, in January 2023, according to Intuitive Surgical Inc., a US-based technology corporation specializing in minimally invasive care products, in 2022, approximately 1,875,000 surgical procedures were performed with vinci surgical systems, an increase of roughly 18% compared with approximately 1,594,000 surgical procedures performed in 2021. Therefore, the growing demand for minimally invasive techniques drives the growth of the transcatheter embolization and occlusion devices market.
Key Industry Players
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.
The transcatheter embolization and occlusion devices market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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