The global transcatheter embolization and occlusion devices market size is expected to reach USD 6.86 billion by 2026, according to a new study by Grand View Research, Inc. The global market is anticipated to register a strong CAGR of 9.7% from 2019 to 2026. Key drivers of the TEO devices market include increasing adoption of minimally invasive surgeries and rising prevalence of cancer.
In addition, wide usage of embolization technique as a treatment for conditions other than cancer, such as vascular malformations and fibrosis, is fueling the demand for TEO devices globally. Furthermore, introduction of technically advanced products with enhanced efficiency is supporting the global market growth. On the other hand, high cost, stringent regulatory approval procedures, and requirement of experienced healthcare professionals to perform TEO procedures are some of the factors that may have a negative impact on the market development.
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Asia Pacific TEO devices market is anticipated to witness highest CAGR from 2019 to 2026 due to increasing healthcare expenditure and improving healthcare infrastructure. Rapid expansion of medical tourism industry in the emerging countries of APAC is also boosting the demand for TEO devices. Brazil was the highest revenue-generating country in Latin America in 2018. Improving healthcare services, growing medical tourism industry, and availability of regulatory framework in the country are further driving the market in Brazil
Further key findings from the study suggest:
• Coils accounted for the largest share in 2018. Availability of a broad range of coils in various shapes and sizes enables suitable product selection for different cases, making coiling a preferred treatment for embolization
• Moreover, affordability of the commercially available devices spurs demand for coiling in occlusion
• Accessories is expected to be the largest type segment due to wide usage of accessories across various modes of embolization and occlusion
• North America along with Europe accounted for the largest share in 2018. Presence of advanced healthcare infrastructure, reimbursement coverage, and skilled professionals to perform procedures are some of the factors driving the growth of these regionsm
• Moreover, quick adoption of advanced healthcare treatments and products coupled with the presence of well-defined regulatory framework are boosting North America and Europe markets
• Key companies in this market include Terumo Corporation; Medtronic, Inc.; Boston Scientific Corporation; Stryker Corporation; Cordis Corporation; DePuy Synthes; St. Jude Medical; Cook Medical; Sirtex Medical Ltd.; and Noridian
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Grand View Research has segmented the global transcatheter embolization and occlusion devices market on the basis of type, application, and region:
TEO Devices Type Outlook (Revenue, USD Million, 2015 - 2026)
• Coil
o Pushable Coils
o Detachable Coils
• Non Coil
o Flow Diverting Devices
o Embolization Particles
o Liquid Embolics
o Others
TEO Devices Application Outlook (Revenue, USD Million, 2015 - 2026)
• Peripheral Vascular Disease
o Arterial Blockage
o Venous Blood clot
o Others
• Oncology
o Liver Cancer
o Pancreatic Cancer
o Breast Cancer
o Kidney Cancer
o Others
• Neurology
o Brain Aneurysm
o Cerebral Arteriovenous Malformations
o Others
• Urology
o Benign Prostatic Hyperplasia/Urinary Retention
o Others (Varicocele)
• Others
TEO Devices Regional Outlook (Revenue, USD Million, 2015 - 2026)
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
• Asia Pacific
o China
o Japan
o India
o Thailand
o South Korea
• Latin America
o Brazil
o Mexico
o Argentina
o Columbia
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.