The transcatheter embolization and occlusion devices market was valued USD 2.2 billion in 2014. The market is observing marvellous growth in last decade. Concept move from cutting to coiling has inspired the transcatheter embolization devices demand.
The TEO market is growing fast due to the recognition of embolization technique in the treatment of cancer. TOE device market is expected to rise at more than 10% growth rate over the forecast period due to the increasing incidences of cancer. The global market is also being influenced mainly by the minimally invasive surgery (MIS).
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Minimally invasive surgery is supported commercially by the embolization and liquid embolics particles of embolization products. These surgeries reduce the wound and time of healing of the wound resulting into growing demand of MIS is boosting the TEO market.
In contrast, skilled professional need, expensive products, and strict authoritarian sanction measures are the factors obstructing the global growth of the market. Keeping in consideration the above facts, the TEO device market is expected to be at $ 4822 million in 2022 at a CAGR of more than 10% from 2015 to 2022. The market is bifurcated into segments and regions.
Commercially there are two forms of embolization devices, i.e. coils & non-coils on hand. Medical professionals globally use coiling as it is the oldest technique. In addition, accessibility of a wide range of coils in different sizes and shapes makes the practice more encouraging for diverse cases. Pushable & Detachable coils are there in the industry based upon deployment technique.
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Pushable coils had the biggest market share in 2014 which was approximately 56% due to the product awareness. Nevertheless, the drawback with these coils were that they could easily trapped in blood vessel sharp curves, likelihood of being stuck in catheters and after application it’s difficult to reposition are the obstruction observed in its acceptance.
Detachable coils are expected the fastest growth rate of more than 10.5% over the forecast period. Few reasons for its growth are retrievability, precise placement, and high flow systems deployment is anticipated to steer growth of detachable coil segment over the forecast period.
Europe & North America accounted bulk market share of approximately 58% in 2014 and is expected to remain at the top over the forecast period. Asia Pacific is expected to rise at the CAGR of 13.2% over the forecast period. Few major industries are Terumo Corporation, St. Jude Medical, Boston Scientific Corporation, Cordis Corporation, and St. Jude Medical.
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