Transcatheter Embolization And Occlusion Devices Market Size, Share & Trends Analysis Report By Product (Coil, Non Coil), By Application (Peripheral Vascular Disease, Oncology, Neurology, Urology), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global transcatheter embolization and occlusion devices market size was valued at USD 4.82 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 7.0% from 2023 to 2030. These devices treat malignancies in the kidneys, lungs, liver, and other body parts. The paradigm shift from clipping to coiling has stimulated the demand for transcatheter embolization devices. They are additionally used to cure aneurysms, erase aberrant connections between arteries and veins, stop blood vessels from supplying a tumor, and regulate or avoid irregular bleeding.

Embolization is far less intrusive than open surgery and is a highly effective method of controlling bleeding. The devices help avoid complications, such as imprecise deployment, catheter entrapment, and balloon deflation associated with coiling. Therefore, surgeons are increasingly shifting toward non-coil devices to leverage their associated benefits, which is projected to drive the demand for TEO devices.

According to a report by the National Institute of Health (NIH), lung cancer is the most common type in newly diagnosed cases; over 1,350,000 lung cancer cases are diagnosed globally every year. According to a report by Cleveland Clinic, around 76,000 people in the U.S. are diagnosed with malignant kidney tumors. Moreover, a report by the National Library of Medicine (NLM) states that over 250 million people have unruptured aneurysms. Transcatheter embolization devices restrict blood flow in these valves and prevent them from rupturing.

As per a Yale Medicine report, more than 70 million people are suffering from vascular malformation, and transcatheter embolization devices are used to restrict blood flow with minimum blood loss. Government initiatives to improve healthcare infrastructure and increased healthcare spending fuel the market's growth. The healthcare expenditure of the U.S. in the year 2021 was USD 4.3 trillion, and that of China was USD 1.1 trillion.

Product Insights

The non-coil segment accounted for the largest revenue share of 51.5% in 2022 and is also expected to grow at the fastest rate of 7.4% over the forecast period, due to the rising preference for minimally invasive surgeries that is boosting the demand for these devices. Non-coils are preferred because they are less likely to migrate, which is a huge advantage over coil type; the chances of hemolysis are also less, as the material used to create non-coils does not create turbulence in the bloodstream. Non-coils are used exclusively in large defects, as coils cannot be used in such situations.

Based on product, the transcatheter embolization and occlusion devices market is segmented into coil and non-coil. The non-coil segment consists of coiling assist devices, flow-diverting devices, embolization particles, liquid embolic, other embolization and occlusion devices, and accessories. These devices prevent issues such as inaccurate deployment, catheter entrapment, and balloon deflation brought on by coiling.

Application Insights

Based on application, the market is segmented into peripheral vascular disease, oncology, neurology, urology, and others. Increasing cases of fatal neurological disorders globally, such as brain aneurysms and cerebral arteriovenous malformations, are expected to spur the growth of the neurology segment. As per the Society of NeuroInterventional Surgery, currently, more than 140 Guglielmi detachable coils are available in the market in various sizes, which have been used to treat more than 125,000 patients worldwide. Thus, the market for brain aneurysms is expected to grow significantly during the forecast period.

The oncology segment is expected to expand at the fastest CAGR through 2030, owing to the embolization technique’s effective treatment in the case of liver and kidney cancer. Embolization has become one of the key modalities for the treatment of different types of cancer, including liver, kidney, breast, pancreatic, and others. Of these, liver cancer or hepatocellular carcinoma is the most common type that is treated through embolization procedures. According to the National Center for Biotechnology Information, hepatocellular carcinoma is the third leading cause of cancer deaths globally.

Regional Insights

North America led the market with a revenue share of 29.7% in 2022. The presence of advanced healthcare infrastructure, a well-defined regulatory framework, and experienced healthcare professionals are the primary factors fueling the demand for TEO devices in this region. The presence of a well-established pharmaceutical industry is also a key market driver for transcatheter embolization and occlusion. As per the Centers for Disease Control and Prevention (CDC), the devices are used in cases of atrial fibrillation and varicose veins; 454,000 people are diagnosed with atrial fibrillation annually and 23% of U.S. adults have varicose veins.

Asia Pacific is expected to advance at the fastest CAGR of 8.1% during the forecast period. The rapidly growing medical tourism industry in emerging economies such as India, China, and Malaysia is attracting cancer patients from around the world. The region is also home to the largest population pool and the geriatric population is high. According to a report by the WHO, 414 million people in the Asia Pacific are above 60 years of age. It is predicted that by 2050, 40% of the population of Hong Kong and Japan will be aged above 65. This population is more prone to CVDs, for which transcatheter embolization is a minimally invasive treatment option.

Key Companies & Market Share Insights

The market is highly competitive, with a large number of manufacturers accounting for a majority of the market share. Product launches, approvals, strategic acquisitions, and innovations are some of the important business strategies used by companies to maintain and grow their global reach. For instance, in July 2021, Terumo Corporation announced the launch of its innovative AZUR Vascular Plug. This innovative product is fully compatible with a microcatheter, enabling the occlusion of arteries with diameters of up to 8mm. As part of the company’s strong embolization portfolio, the AZUR Vascular Plug is designed and intended for use in reducing or obstructing blood flow rates in the peripheral vasculature's arterial pathways.

In another instance, in April 2022, Boston Scientific Corporation announced that it had received FDA 510(k) clearance for its innovative ‘Embold’ Fibered Detachable Coil. This medical device is specifically indicated for obstructing or reducing the rate of blood flow in the peripheral vasculature. Following are some of the major participants in the global transcatheter embolization and occlusion devices market:

• Boston Scientific Corporation

• Terumo Corporation

• Medtronic

• DePuy Synthes

• Stryker

• Cordis

• Abbott

• Pfizer Inc.

• Sirtex

• Nordion

Transcatheter Embolization And Occlusion Devices Market Report Scope

Global Transcatheter Embolization And Occlusion Devices Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global transcatheter embolization and occlusion devices market report based on product, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Coil

    • Pushable Coils

    • Detachable Coils

  • Non Coil

    • Flow Diverting Devices

    • Embolization Particles

    • Liquid Embolics

    • Other Embolization and Occlusion Devices

    • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Peripheral Vascular Disease

    • Arterial Blockage

    • Venous Blood clot

    • Others

  • Oncology

    • Liver Cancer

    • Pancreatic Cancer

    • Breast Cancer

    • Kidney Cancer

    • Others

  • Neurology

    • Brain Aneurysm

    • Cerebral Arteriovenous Malformations

    • Others

  • Urology

    • Benign Prostatic Hyperplasia/Urinary Retention

    • Others (Varicocele)

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030 )

  • North America

  • U.S.

  • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait