The transcatheter embolization and occlusion (TEO) devices market was worth around USD 2.2 billion in 2014. It has expanded tremendously in the last ten years. Rising inclination for coiling from clipping provokes market demand. Wide popularity of embolization procedures in cancer treatment is the main propeller of the market.
Deeming that cancer incidences have risen, the market is projected to undergo a substantial CAGR of about 10% during 2015 to 2022 (forecast period). Surgeries with minimal invasiveness positively affect the market. Commercially accessible embolization devices favour minimally invasive surgeries.
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These surgeries mend surgical wounds and decrease healing time. Due to this, their growth pushes TEO surgery demand, furthering market revenues. In contrast, demand for proficient healthcare experts, expensive devices, and strict governmental sanction procedures prevent the transcatheter embolization and occlusion (TEO) devices market from expanding further.
Deeming the aforementioned facts, the market will stand around USD 4, 822 million by 2022. It would register about 10% CAGR in the coming seven years. The market is divided on the basis of segments and geographies. In view of segments, coils and non-coils are the two kinds of embolization products present commercially.
Coiling is a very old procedure and employed by medical professionals worldwide. On account of the deployment of this procedure, detachable and pushable coils are present. Pushable coils captured the largest share of about 56% in 2014. This was ascribed to high awareness regarding them. However, certain drawbacks associated with them can limit their growth.
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Detachable coils should display the fastest growth of over 10.5% in the future. Recovering ability and accurate placement will drive these coils towards further growth. In terms of geographies, Europe and North America jointly occupied the maximum shares (58%) in 2014. Moreover, they are anticipated to lead the market during the seven years ahead.
Asia Pacific could expand at the fastest CAGR of around 13.1% in the forecast period. Healthcare tourism in China, India, and Malaysia can propel regional demand. The global transcatheter embolization and occlusion (TEO) devices market is very competitive. Its players develop new products to augment their shares and enhance their product portfolios. They even indulge in acquisitions and collaborations to attain the same.
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