The global demand of transcatheter embolization and occlusive devices is anticipated to boost during the forecast period. Global impact rendering drivers of the market include rising geriatric population base, increasing incidences of cancer, intracranial aneurysm and cardiovascular diseases and elevated preference of patients towards non-surgical procedures. Besides innovation and new product development to assist non-surgical procedures, growing support from Government for increasing awareness level is another vital driver for the market.
The PV (Peripheral Vascular) tumors segment held the largest share owing to rising occurrences of the disease. In terms of product segmentation, PV embolization coil held the largest share. However, the introduction of liquid embolics and flow diverting devices is anticipated to witness lucrative growth and affect their share. Flow diverting devices are tested to be more effective in treatment of wide neck aneurysms over embolization coils. trend is expected to continue over the forecast period.
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North America held the largest share in the market and is expected to retain the dominance during the forecast period. Europe follows North America and has second largest share in the market. Both the regions are growing due to rising population of geriatrics and patients showing promising therapeutic actions in clinical trials conducted recently. Another vital driver is continuous evolution in designs of the systems and product to meet the needs of the patient. Germany held the largest share in the European market owing to presence of many manufacturing units within the region. European market is expected to witness growth during the forecast period due to high quality, environmentally friendly product manufacturing processes indicated by CE markings.
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.
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