Global Embolization Devices Market 2017-2021
About Embolization Devices
Embolization is a surgical technique through which an embolus is placed into the blood vessel to block the flow of blood to a particular area of the body. It is used for the treatment of aneurysms and malformations. There are various types of neuroendovascular devices used for the treatment of abnormalities leading to aneurysms and other malformations. Embolization devices are useful in the incorporation of an artificial embolus. An artificial embolus is used to close off blood vessels to prevent the blood from reaching a particular part of the body to eliminate abnormal conditions in the body like a renal aneurysm, arteriovenous fistula, hypogastric artery embolization, and others. Based on the type of products, these embolization devices are categorized into embolic coils, flow diverters, EPDs, and others.
Technavio’s analysts forecast the global embolization devices market to grow at a CAGR of 10.61% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global embolization devices market for 2017-2021. To calculate the market size, the report considers the sales, volume, and value of the embolization devices market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Embolization Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global embolization devices market: Boston Scientific, Medtronic, Cook Medical, St. Jude Medical, Penumbra, Metactive Medical, and Terumo.
Other Prominent Vendors in the market are: Acandis, AGA Medical, Allium Medical Solutions, AngioDynamics, Angioslide, Atrium Medical, Biophan Technologies, Biosense Webster, Contego Medical, CryoLife, Innovative Cardiovascular Solutions, InspireMD, Keystone Heart, Phenox, and Transverse Medical.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is new technological advancements. The penetration of neuroendovascular non-coil devices is low due to the limited product approvals in the market. However, the rapid technological advancements are leading to the increased adoption of these devices. There are a few products which are either in the development stage or have received regulatory approval only in one region. These products are highly advanced and are developed based on the preference of physicians.”
According to the report, one of the major drivers for this market is Venture capital accelerating entrance of start-up companies. One of the common strategies for market entrants to venture into niche markets, such as that of EPDs, is to approach venture capitalists. Based on the evaluations of a technology or product of a start-up company, venture capitalists invest in embolization devices that have high market potential. This has led to an increase in financial support from venture capitalists, an increase in the number of innovative start-ups, and a subsequent development of such devices. Once the registration and market approvals are issued, the venture capitalists take a share from the total revenue generated by the company.
Further, the report states that one of the major factors hindering the growth of this market is High cost of stenting procedures. The high cost of stent procedures is leading to the low adoption of these procedures in various countries. The total cost of a procedure with stent varies from one hospital to another and is based on the individual's condition, age, and surgeon performing the procedure.
Boston Scientific, Cook Medical, Medtronic, St. Jude Medical, Metactive Medical, Penumbra, Terumo, Acandis, AGA Medical, Allium Medical Solutions, AngioDynamics, Angioslide, Atrium Medical, Biophan Technologies, Biosense Webster, Contego Medical, CryoLife, Innovative Cardiovascular Solutions, InspireMD, Keystone Heart, Phenox, and Transverse Medical
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