Transcatheter Embolization and Occlusion Devices Market

Global Transcatheter Embolization and Occlusion Devices Market Size (2024 to 2029)

The global transcatheter embolization and occlusion (TEO) devices market is expected to be worth USD 9.41 billion by 2029 from USD 5.87 billion in 2024, growing at a CAGR of 9.9% from 2024 to 2029.

Transcatheter embolization and occlusion devices help insert an insertion inserted in the body using a catheter made up of a synthetic embolus. This is a minimally invasive procedure since it controls bleeding and is much less invasive than open surgery. In addition, it may be used to control or prevent abnormal bleeding, eliminate abnormal connections between arteries and veins, close off vessels supplying blood to a tumor and treat aneurysms.

Global Transcatheter Embolization and Occlusion Devices Market Drivers:

The growing use of transcatheter embolization and occlusion devices in hospitals is one of the key factors propelling the market growth. Ambulatory surgery centers, hospitals, and clinics are the major end-users of the catheter occlusion and embolization devices market, among which hospitals are the most significant end users. The rise in patient choice for shifting towards hospitals, increasing population, increase in hospitals with multiple devices and links, improved healthcare segments, technological upgrades, improved healthcare support, and infrastructure are some of the advantages hospitals provide, which leads to growth of the market. In addition, transcatheter embolization is an effective option for obstetric and gynecological abnormalities since they use radiological imaging and are minimally invasive surgery, which decreases morbidity and mortality, thereby preserving the patient's potential for future fertility. Furthermore, in women, it is used to treat symptomatic pelvic congestion syndrome and uterine fibroids, many lesions of the female pelvis such as advanced malignancies, arteriovenous malformations, obstetric-gynecological hemorrhages, and ectopic pregnancies, which overall are anticipated to boost the TEO market growth.

The rising risk factors due to alcohol consumption, unhealthy eating habits, tobacco, and obesity, increase in the prevalence of chronic diseases among the population, increase in the shift to non-winding devices for leveraging benefits, well-experienced interventional radiologists and essential technical support to the patients are further fueling the market growth.

Furthermore, factors such as the development of catheter entrapment, inaccurate delivery, balloon deflation, keeping surgeries to a minimum, new regulations, and initiatives taken by governments and the FDA to improve healthcare facilities, increase acceptance of techniques using transcatheter embolization and occlusion devices. New product launches and acquisitions more excellent vascular occlusion in clinical performance, the appearance of many new agents, increasing number of flow-directed embolic materials, and reduced complication rates,

Global Transcatheter Embolization and Occlusion Devices Market Restraints:

Factors such as strict regulations, expensive products, lack of qualified personnel, lengthy approval procedures, and stringent regulatory framework for the product are significant factors that restrain the growth of the transcatheter embolization and occlusion devices market. Moreover, the patient can be risked due to hemobilia or hemoperitoneum following a pseudoaneurysm or a laceration of a blood vessel, which are supposed to be treated individually without risk, would further challenge the transcatheter embolization and occlusion market.

Impact Of COVID-19 On The Global TEO Devices Market:

The rise of the COVID-19 pandemic caused the world to a health emergency, negatively affecting businesses across many ventures. Each vertical of the various industries has been severely affected by the COVID-19 pandemic. There was a severe reduction in routine checks by patients in fear of the virus and the strict regulation imposed by the governments of lockdown. However, rising help from governments and organizations is foreseen to accelerate the growth of the TEO devices market over the forecast period.

REPORT COVERAGE:

This research report on the global transcatheter embolization and occlusion devices market has been segmented and sub-segmented based on the type, application, end-user & region.

Global Transcatheter Embolization and Occlusion Devices Market – By Type:

• Coil
• Non-Coil

Based on type, the non-coil segment is anticipated to dominate the market during the forecast period due to compatibility with minimally invasive surgery using embolic beads and liquid embolic. In addition, these

devices avoid complications of catheter entrapment, inaccurate deployment, and balloon deflation associated with rolling, due to which surgeons are increasingly using these devices.

The coil segment is expected to grow at a promising CAGR during the forecast period. The goal of coiling is to securely pack the aneurysm to stop blood flow to it, thereby preventing rupture. Once inserted inside the aneurysm, a tiny electrical current is run via the wire. Due to this electrolysis, the coil stays inside the aneurysm since it separates from the wire.

Global Transcatheter Embolization and Occlusion Devices Market – By Application:

• Oncology
• Neurology
• Urology
• Peripheral Vascular Diseases
• Others

Based on the application, the oncology segment led the market accounting for the leading share of the market in 2022 and is also expected to register a substantial share of the global market during the forecast period. The dominance of this segment is attributed to the effective treatment of different types of cancer. According to the National Center for Biotechnology Information, hepatocellular carcinoma is the third leading cause of cancer death. There are different types like kidney, breast, liver, and pancreas, among which liver cancer is the most common type treated by embolization procedures. Transcatheter arterial chemoembolization (TACE), which involves injecting chemotherapy medications into the hepatic artery before blocking it, successfully reduces tumor size and extends patient survival.

The neurology segment is also expected to grow at a healthy CAGR owing to greater incidences of brain aneurysms, rising cases of fatal neurological disorders, and cerebral arteriovenous malfunctions. Over 140 Detachable Guglielmi Coils have been used to treat over 125,000 patients worldwide, according to the Society for Neurointerventional Surgery.

Global Transcatheter Embolization and Occlusion Devices Market – By End-User:

• Hospitals and Clinics
• Ambulatory Surgical Centers
• Others

Based on the end-user, the hospital segment led the market in 2022 and is estimated to continue dominating the market throughout the forecast period owing to the improved treatment using advanced solutions provided by the hospitals, high-profit margins, and purchasing products at lower prices.

The ambulatory surgical center segment is also growing at a healthy growth rate. The ASCs, on the other hand, is the fastest growing healthcare facility and is proving to be gaining patients satisfaction with the outcome of the surgery, low cost, and quality of care they receive and also impressed with the way the facility is run, which is why the ambulatory surgical centers are also expected to grow over the forecast period.

Global Transcatheter Embolization and Occlusion Devices Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, North America was the market leader among all the regions in the global market in 2022 and also is anticipated to account for the most significant share of the market during the forecast period. The dominance of this region in the global market is attributed to the presence of advanced healthcare infrastructure, extensive health insurance coverage, well-defined regulatory framework, increasing expenditure on research and development by vendors, experienced healthcare professionals, and high adoption of technologically advanced products. These are the primary reasons for the high growth in the region's transcatheter embolization and occlusion devices market size. In addition, the patient can be at critical risk due to diseases like hemobilia or hemoperitoneum following a pseudoaneurysm or a blood vessel laceration. Thus, to treat these diseases, selective embolization of the lesion might increase the morbidity along with bile leaks or hepatic necrosis, which requires treatment, thus driving the market growth of TEO.

The APAC region is growing the fastest among all regions in the global market. The Asia-Pacific region's growth is attributed to increased purchasing power, a large target population, and widespread adoption of advanced healthcare technologies. These factors help drive the growth of the Transcatheter embolization and occlusion devices market. Thus, this region is expected to dominate the market. In addition, the demand for OET treatments in emerging economies due to the rapidly growing medical tourism industry in India, China, and Malaysia attracts cancer patients from all over the world, thereby driving regional market growth.

The growing awareness of healthcare, growing government funding for development, and advancement in the latest technologies in the field of medicine and healthcare are some of the factors which drive the market in the regions of Europe, Latin America, the Middle East, and Africa, which is why these regions are expected to dominate the global Transcatheter embolization and occlusion devices market.

KEY MARKET PARTICIPANTS:

Some of the key companies in the TEO devices market include Terumo Corporation, doctor of St. Jude, Medical Sirtex, Medtronic, Inc., Stryker Company, Cordis Corporation, Boston Scientific Society, DePuy Synthes, and Nordic.

RECENT HAPPENINGS IN THIS MARKET:

• In October 2022, the NovaCross family of microcatheters would produce several procedure-related kits tailored for the LIBERTY robotic system, the first disposable endovascular robotic system with remote control as a standalone device or when connected with the company's One & DoneTM technology.
• In April 2022, Boston Scientific declared that the FDA had approved its novel embolization device, Embold, which contains a removable fiber coil intended to impede or lessen blood flow in the peripheral vasculature, stop bleeding, limit the size of some tumors, and prevent ruptured aneurysms.