The global embolic protection devices market size projected to register USD 2.0 billion by 2026, registering at a CAGR growth of 9.2% over the forecast period. Increasing cases of cardiovascular, neurovascular surgeries and also surge in huge investments in R&D of embolic devices are the main features driving the market development.
Government bodies along with (NGO) Non-Governmental Organization and educational institutes across numerous regions are involved in spreading consciousness about cardiovascular and neurovascular illnesses and its possible treatment by introduction consciousness programs. This parameters is also contributing toward the market development. Though, the occurrence of alternatives treatment, for instance, the use of drugs, and high cost of medical gadgets may obstruct the embolic protection devices market development.
The numeral of TAVR centers in U.S. has augmented from approximately 156 in 2012 to 511 in 2017, and about 35,000 patients underwent TAVR in 2016 in U.S alone. According to the statistics published by (BAF) Brain Aneurysm Foundation, each year, brain aneurysm captures for about 50,000 deaths. It also approximations that aneurysm is more main for the age group 40 to 60 years.
Distal filter devices sub-segment developed as the largest segment due to growing need for these devices. Neurovascular diseases sub-segment captures for the largest share in the application segment due to the increasing cases of neurological illnesses.
Rising acceptance of slightly invasive surgeries and growing need for novel technologies are helping the dominance of this region. The market in the Asia Pacific is anticipated to observer swift development during the forthcoming years due to speedily improving healthcare infrastructure and huge targeted populace base.
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Asia Pacific is anticipated to observer the highest CAGR of 7.3% during the forecast timeframe. Growing heart related disease, rising healthcare spending, and growing disposable income are expected to increase the development of the regional embolic protection devices industry. North America captures the market in 2018 owing to increase in case of cardiovascular illness and constant launch of new product portfolio associated to embolic protection devices by main key players. Also, inventive marketing strategies being accepted by main key companies to encourage and embolic protection devices market and associated products are expected to inspire end users to accept these products, which in turn will stimulate the development of the regional market.
Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. The major players associated with the Embolic protection devices market are Innovative Cardiovascular Solutions, LLC, Boston Scientific Corp., Gore Medical, Claret Medical, Inc., Medtronic Plc, Edward Lifesciences, Abbott Laboratories, Cardinal Health, Transverse Medical, Inc., and Allium Medical.