TEO Device Market Size Estimated To Exhibiting A CAGR of 10.13 % During The Forecast Period From 2012 to 2022 : Grand View Research, Inc.

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According to report published by Grand View Research , the transcatheter embolization and occlusion (TEO) devices market is expected to reach a valuation of USD 4.75 billion by 2025. The market is anticipated to expand at a CAGR of 10.13 % during the forecast period (from 1012 to 2022).

According to a report published by Grand View Research, Inc.; the transcatheter embolization and occlusion (TEO) devices market is expected to reach a valuation of USD 4.75 billion by 2025. The market is anticipated to expand at a CAGR of 10.13 % during the forecast period (from 2012 to 2022). High prevalence of cancer and growing demand for minimally invasive surgeries are projected to drive the global market. Rising adoption of embolization technique in the treatment of other diseases, apart from cancer, such as vascular malformations and fibrosis is also estimated to drive the demand for TEO devices.

Introduction of technologically advanced products with improved efficiency is also expected to boost the market growth in the coming years. On the other hand, factors such as high product costs, strict regulatory procedures for product approval, and lack of skilled healthcare professionals to perform the procedures may restrain the market growth. However, non-coil products including liquid embolics and embolization particles support minimally invasive surgeries and help avoid complications, like balloon deflation and catheter entrapment, associated with coiling. Thus, surgeons are gradually shifting toward non-coil devices, which is also expected to fuel the global market demand during the next few years.

Full Research Report On Transcatheter Embolization And Occlusion Devices Market Analysis

Japan embolization coils market, by type, 2012 - 2022 (USD Million)

The global transcatheter embolization and occlusion devices market can be segmented on the basis of product and region. As per product, the market can be classified into coil and non-coil. In 2014, the coils segment estimated for the largest market share. The coils are available in different range of shapes and sizes therefore allows appropriate product selection for a variety of cases, which makes it ideal for embolization. Thus, availability of wide range of products along with its affordable costs enables its use in occlusion, which, in turn, is driving the segment growth.

The non-coil segment is expected to be the fastest-growing segment over the forecast period on account of rising demand for minimally invasive surgeries. Non-coil devices include embolization particles, coiling assist devices, liquid embolics, flow diverting devices, and other embolization and occlusion devices, and accessories. Among these, accessories segment held the largest industry share in 2016. Increased adoption of various accessories in several methods of embolization and occlusion is also anticipated to support market growth. On the basis of geographies, the market can be divided into North America, Asia Pacific, Europe, Latin America, Middle East and Africa.

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Global non-coil embolization market, by therapy, 2016 (%)

In 2014, North America and Europe collectively estimated for the major market share of 59.0 % and are expected to maintain this trend over the forecast period. This can be attributed to the availability of advanced healthcare infrastructure, skilled healthcare professionals, and better reimbursement coverage. In addition, positive regulatory framework and quick adoption of advanced healthcare treatments are expected to boost the demand for TEO devices in these regions. Rising prevalence of cancer is also expected to spur the product demand in North America.

The Latin America TEO devices market is expected to have a remarkable growth in the years to come. In 2014, Brazil was the major revenue-maker in this region. Factors such as refining healthcare services, growing medical tourism sector, and presence of better regulatory framework is supporting the market growth in the country. The Asia Pacific region is also projected to exhibit substantial growth over the next few years on account of increased healthcare expenditure and positive government initiatives for healthcare infrastructure development. Rapidly expanding medical tourism industry, especially in the emerging countries in the region such as Malaysia, India, and China, is also contributing toward the development of TEO devices market in Asia Pacific.

Key companies in the transcatheter embolization and occlusion devices market include Medtronic, Inc.; Boston Scientific Corporation; Terumo Corporation; Stryker Corporation; and St. Jude Medical. These major participants focus on R&D and M&A activities to increase their market share and geographical reach.

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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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