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Transcatheter embolization and occlusion refers to passage or insertion of a synthetic embolus through a fine catheter in the blood vessel to obstruct the blood flow in particular area of the body. Transcatheter embolization is a minimally invasive procedure performed as a part of interventional radiology to restrict blood supply to tumors. Synthetic materials known as embolic agents, in some cases, are coated with chemotherapeutic drugs that perform dual action of blocking the blood supply as well as inducing cytotoxicity to attack the tumor in several ways. Moreover, this procedure is also employed to control or prevent abnormal bleeding, eliminate abnormal connections between arteries and veins as well as to treat aneurysms, which refers to formation of a bulge or a sac in weak arterial wall.

Transcatheter embolization is a less invasive and highly efficient way to control bleeding as compared to open invasive surgical procedures. Catheter embolization is considered to be the first line of treatment in gastrointestinal bleeding. This process can be performed alone or combined with other treatments such as surgery or radiation. The process is initiated with the help of x-ray imaging to visualize the blood vessel, after which an interventional radiologist inserts a catheter to the skin into the desired blood vessel and advanced to the treatment site. Among females, this method provides an excellent alternative to hysterectomy to shrink and control heavy menstrual bleeding by interrupting the blood supply caused due to uterine fibroid tumors.

Market Dynamics

Increasing demand for minimally invasive surgical procedures over conventional open surgeries is expected to propel growth of transcatheter embolization and occlusion devices market. This shift is a result of advantages offered by minimally invasive procedures over open surgeries that includes significantly low blood loss, low recovery time, low surgical time, reduced probability of errors, and others. For instance, according to a retrospective review published by Department of Surgery, John Hopkins Hospital, in 2014, it suggested that the complication and error rates for hysterectomy was 4.69% and 6.64% in catheter embolization and open surgical procedures, respectively. Moreover, rising incidence of venous malformations leading to vascular anomalies is also an important factor contributing significantly to growth of the market. For instance, according to the International Society for Auricular Reconstruction, 2017, the incidence of venous malformations was reported to be 1-4% of the total world population, without any predilection in the sex. However, practice of transcatheter embolization procedures without following FDA guidelines leading to increased hospital readmissions and requirement of expertise to perform the procedures is expected to hinder the market growth. For instance, according to a research survey conducted by University of Michigan Health System, in 2015, reported that 27% of increase in major post-operative complications were reported among patients that took up catheter embolization for the treatment of fibroid tumors.

Regional Insights

On the basis of region, the global transcatheter embolization and occlusion devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global transcatheter embolization and occlusion devices market and is expected to retain its dominance over the forecast period, owing to large population suffering from fibroid tumor, arteriovenous malformations (AVM), and other diseases. According to the American Association of Neurological Surgeons 2017, the prevalence of arteriovenous malfunctions (AVM) is estimated at 18 people per 100,000 population in the U.S. Moreover, the AVM is reported to be the second most identifiable cause for subarachnoid hemorrhage. Furthermore, leading players in the market are introducing novel products in the market and this is also expected to aid in growth of the market in the region. For instance, in September 2017, Medtronic Plc expanded its embolization product portfolio with the introduction of Concerto 3D detachable system in the U.S. and Europe that can be used in arterial and venous embolization.

Furthermore, Asia Pacific is expected to witness a significant growth in the market, which is attributed to increasing medical tourism in emerging economies such as Japan, India, and ASEAN countries that provides high quality medical services at low costs. According to International Medical Travel Journal, Indian hospitals served 460,000 international patients in 2015–2016 for various surgical procedures.

Competitive Insights

Key players operating in the global transcatheter embolization and occlusion devices market include Boston Scientific Corporation, Terumo Corporation, Cook Medica, DePuy Synthes, Edwards, Eisai, Medtronic Plc, Merit Medical System, Stryker Corporation, St. Jude Medical, Pfizer, Inc., Sirtex Medical, Nordian, and others. Market players are focused on providing technologically advanced products, to sustain their position in the competitive market. For instance, in January 2018, Johnson & Johnson’s Cerenovous division introduced Galaxy G3 Mini embolic coil to remove clots from brain post ischemic strokes.

Market Taxonomy

On the basis of device type, the global transcatheter embolization and occlusion devices market is segmented into:

  • Coiled Devices
    • Pushable Coils
    • Detachable Coils
  • Non-Coiled Devices
    • Flow Diverting Devices
    • Embolization Particles
    • Liquid Embolics
    • Other Embolization and Occlusion Devices
    • Accessories

On the basis of end user, the global transcatheter embolization and occlusion devices market is segmented into:

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Others

On the basis of region, the global transcatheter embolization and occlusion devices market is segmented into:

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

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users