Market Highlights
A catheter embolization procedure involves medications, or
synthetic materials (embolic agents) are inserted through a catheter into a
blood vessel to prevent blood flow to the area. Factors contributing to the
market growth are technological advances in the products, expansion of the
target patient population base, surging number of minimally invasive surgeries,
the presence of favorable reimbursement for cardiovascular surgeries. On the
other hand, costlier products and the presence of stringent regulatory
framework for product commercialization are anticipated to limit the market
growth during the next five years.
The Global Transcatheter
Embolization and Occlusion (TEO) Devices Market held a Market Value of USD
3,290.4 million in 2018 and is Projected to Grow at a CAGR of 9.9% Over the
Forecast Period.
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Transcatheter embolization and occlusion (TEO) is a
minimally invasive alternative to an open surgery thereby shifting the
preference of patients towards minimally invasive surgeries as it offers
several advantages including minor incisions & tissue damage, minimal pain
& surgical scars, same day discharge from the healthcare settings, and
speedy wound healing. Overall, this can cause minor complications and reduces
surgery costs that are likely to foster market growth during the next nine
years.
Technology is proving its efficiency in treatment while
performing complex surgeries. Embolization technique has become one of the most
popular modalities for treatment of various types of cancer such as kidney,
breast, liver (hepatocellular carcinoma), pancreatic, among others.
The introduction of technically advanced products with
enhanced efficiency to treat malformations and fibrosis is supporting the
market growth. For instance, in January 2018, the Cerenovus division of Johnson
& Johnson Services, Inc. introduced the Galaxy G3 Mini embolic coil to
remove clots from brain post ischemic strokes.
Key Players
Few of the prominent players in the global Transcatheter
Embolization and Occlusion (TEO) Devices Market are, Pfizer Inc., DePuy Synthes, Cardinal Health, Cook Medical, Sirtex
Medical Limited, and Merit Medical Systems.
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Regional Analysis
The Global Transcatheter Embolization and Occlusion (TEO)
Devices Market has been categorized on the basis of region into the Americas,
Europe, Asia-Pacific, and the Middle East & Africa. Based on region, the
Americas is expected to dominate the market over the forecast period due to the
presence of medical reimbursements for cardiovascular procedures and key
original equipment manufacturers which facilitates early market initiation,
established healthcare infrastructure, and skilled healthcare professionals. These
players include Stryker Corporation, Boston Scientific Corporation, Pfizer
Inc., Abbott Laboratories, and Cardinal Health.
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