Embolic Protection Devices Market Size Worth $1.7 Billion by 2026
The global Embolic Protection Devices Market size is expected to reach USD 1.7 billion by 2026, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 8.4% during the forecast period. Rising incidences of cardiovascular and neurovascular diseases and growing adoption of minimally invasive diseases are propelling the market growth. Rising demand for technologically advanced embolic devices and increasing healthcare expenditure, resulting in huge funding and investments from multinational companies, are fueling the R&D in the global medical devices industry. This factor is also contributing toward the market growth.
On the other hand, the product failures and recalls may limit the market growth. Low reimbursement for stenting and presence of alternative treatment methods, such as the use of drugs, may also imped the market development. However, factors such as a rise in the number of Trans-catheter Aortic Valve Replacement (TAVR) procedures will support the market expansion. The number of TAVR centers in U.S. has increased from 156 in 2012 to 511 in 2017, and approximately 35,000 patients underwent TAVR in 2016 in U.S. alone. The distal occlusion systems segment is expected to register the highest CAGR over the forecast period.
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Further key findings from the study suggest:
- Distal filter devices segment emerged as the largest segment owing to high demand for these devices
- Neurovascular diseases accounted for the largest share in the application segment owing to the rising cases of neurological disorders
- North America led the global embolic protection devices market with the largest share in 2017 and is likely to maintain this trend over the estimated period
- Growing adoption of minimally invasive surgeries and increasing demand for novel technologies are facilitating the dominance of this region
- The industry in the Asia Pacific is projected to witness swift growth during the forecast period owing to rapidly improving healthcare infrastructure and large target population base
- Some of the key companies include Boston Scientific Corp.; Edward Lifesciences; Abbott Laboratories; Medtronic Plc; Cardinal Health, Inc.; Claret Medical, Inc.; and Innovative Cardiovascular Solutions, LLC