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(Health-NewsWire.Net, April 01, 2021 ) The Factors such as the rising incidence of cardiovascular and neurovascular diseases, growing funding and investments, launch of technologically advanced embolic protection devices, and rising demand for minimally invasive procedures are expected to drive the growth of the market. On the other hand, product failures and recalls may hinder the overall market growth to a certain extent during the forecast period.
According MarketsandMarkets™ Research – The research report”Embolic Protection Devices Market by Type (Distal Filter, Distal Occlusion, Proximal Occlusion), Material (Nitinol, Polyurethane), Application (Cardiovascular, Neurovascular, Peripheral), Indication (PCI, SVD, TAVR) – Global Forecast to 2023″, is projected to reach USD 604.9 Million by 2023 at a CAGR of 8.3% during the forecast period.
Objectives of the Study;
# To define, describe, and forecast the Embolic Protection Devices Market by product type & material, application, indication, end user, and region
# To provide detailed information about the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
# To strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
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The neurovascular segment is expected to grow at the highest CAGR during the forecast period
On the basis of application, Categorized into cardiovascular, neurovascular, and peripheral vascular diseases. The neurovascular segment is expected to grow at the highest CAGR during the forecast period. The favorable medical reimbursement scenarios for neurovascular procedures in developed countries, increasing awareness about the clinical efficacy of embolic protection devices among neurosurgeons, and the rising adoption of these systems across developing countries (such as China and India) are expected to drive the growth of this application segment during the forecast period.
The percutaneous coronary intervention segment accounted for the largest market share in 2017
On the basis of indication, Categorized into percutaneous coronary intervention, transcatheter aortic valve replacement (TAVR), carotid artery diseases, saphenous vein graft disease, and other indications. In 2017, the percutaneous coronary intervention segment accounted for the largest share of the global embolic protection devices market. The large share of this segment can primarily be attributed to the increasing prevalence of CAD and the rising preference for minimally invasive procedures.
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Geographical View in-detailed:
North America dominated the embolic protection devices market. The rising geriatric population and prevalence of cardiovascular and neurovascular diseases, increasing adoption of minimally invasive techniques, increasing availability of funding, and the presence of a large number of medical device product manufacturers are driving the growth of the embolic protection device market in North America. However, the APAC is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the growing geriatric population, rising prevalence of CVD, increasing number of facilities, and rising healthcare expenditure.
Global Key Leaders:
The prominent players in the embolic protection devices market are Boston Scientific (US), Medtronic (Ireland), Abbott (US), Cordis (A Cardinal Health Company) (US), Allium Medical (Israel), Contego Medical (US), W.L. Gore & Associates (US), Silk Road Medical (US), Claret Medical (US), and AngioSlide (Israel).
Medtronic dominated the global embolic protection devices market. The company offers a wide range of innovative products and therapies to treat more than 30 chronic diseases related to cardiac, diabetes, and neurological and spinal conditions. To expand its existing product portfolio, the company focuses on inorganic growth strategies such as acquisitions. In January 2015, Medtronic acquired Covidien plc (Ireland), a manufacturer of cardiovascular products. This acquisition helped the company to expand its product portfolio as well as its market share. The company also focuses on developing new products and obtaining regulatory approvals for enhancing its product offerings.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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