TRANSCATHETER EMBOLIZATION AND OCCLUSION DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

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.