Global Transcatheter Embolization and Occlusion Devices Market: Rising Prevalence of Cancer Drives Demand

Transcatheter embolization and occlusion is a minimally invasive surgical technique employed to starve an abnormal cell growth, such as a tumor in blood vessels. In transcatheter embolization, a synthetic substance or chemotherapeutic medication is placed in a blood vessel through a catheter. Due to the use of a catheter, this procedure is much less invasive than an open surgery, which is the conventional treatment for the disorders in which it is used. This has helped drive demand for it from across the world, as minimally invasive surgery practices have become increasingly popular due to their higher convenience to the patient. 

The global transcatheter embolization and occlusion devices market had an overall valuation of US$2.4 bn in 2015. According to Transparency Market Research (TMR), the market’s valuation is expected to double over the 2016-2024 forecast period, at a strong CAGR of 7.9%.

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What are the key revenue generators for the transcatheter embolization and occlusion devices market?

By application, the global transcatheter embolization and occlusion devices market is segmented into neurology, oncology, peripheral vascular disease, urology, and others. Of these, the use of transcatheter embolization and occlusion devices is the highest in the treatment of peripheral vascular disease. While peripheral vascular disease is likely to remain a significant application of transcatheter embolization and occlusion devices in the coming years, the rising prevalence of cancer is expected to drive the demand for transcatheter embolization and occlusion devices in cancer treatment in the coming years.

Embolization coils, which are the oldest embolization technique, held the dominant share in the global transcatheter embolization and occlusion devices market in 2015 and are likely to remain the leading revenue generator for the market in the coming years. Embolization coils are expected to account for close to 40% of the global transcatheter embolization and occlusion devices market by 2024. However, the rising use of technologically advanced alternatives such as embolization particles and flow diverting devices is likely to be a prominent feature of the transcatheter embolization and occlusion market’s future development. 

What are the key regional markets for transcatheter embolization and occlusion devices?

Geographically, North America is the leading contributor to the global transcatheter embolization and occlusion devices market, with the regional market expected to account for 32.3% of the global market by the end of 2024. Nonetheless, booming medical tourism and the rising patient pool of cancer and peripheral vascular disease are expected to ensure steady growth of the Asia Pacific market for transcatheter embolization and occlusion devices in the coming years.

The Asia Pacific transcatheter embolization and occlusion devices market is also driven by the increasing number of local manufacturers entering the market and the steady government support to medical tourism in several countries in the region. These are likely to remain influential drivers for the transcatheter embolization and occlusion devices market in Asia Pacific in the coming years. 

Leading companies in the global transcatheter embolization and occlusion market include Pfizer, Inc., Boston Scientific Corporation, Cook Medical, Inc., Edwards Lifesciences, Medtronic plc, Merit Medical Systems, Inc., Johnson & Johnson, Sirtex Medical Limited, Stryker Corporation, Penumbra, Inc., Terumo Corporation, St. Jude Medical, Inc., BTG plc, and Abbott Laboratories.

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