Acumen Research and Consulting has published a new report titled ‘Embolic Protection Devices Market (By Product: Distal Occlusion Filters, Proximal Occlusion Filters, Distal Filters; By Application: Neurovascular Diseases, Cardiovascular Diseases, Peripheral Vascular Diseases) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026’. The global embolic protection devices market size is anticipated to reach 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. Increase in numeral of (TAVR) Trans-catheter Aortic Valve Replacement processes and consumer consciousness concerning embolic devices are also backing toward embolic protection devices market growth.
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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.
Also, as per to (WHF) World Heart Federation, yearly 15 million people suffer from stroke. Growing cases of cardiovascular illnesses globally owing to increasing geriatric populace is also supporting the embolic protection devices market development. As per (WHO) World Health Organization, the populace aged above 60 years may projected to reach 1.6 billion by 2050.
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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 theembolic protection devices market development.
The global embolic protection devices market is segmented into product,application and region.On the basis of product the global Embolic protection devices market is segmented into distal occlusion filters, proximal occlusion filters, and distal filters. On the basis of application the global embolic protection devices market is segmented into neurovascular diseases, cardiovascular diseases, and peripheral vascular diseases. On the basis of region the global embolic protection devices market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
Geographically, the embolic protection devices market is bifurcated into Europe, Asia Pacific, North America, MEA, and Latin America. North America, followed by Europe, is anticipated to capture the major share in the embolic protection devices market. This development is credited to increasing CVD cases, quick acceptance of latest technologies, and the occurrence of research and development centers. Asia Pacific is anticipated to observer lucrative during the forthcoming yearscrediting to investments from public and private entities, improvised healthcare infrastructure, increasing disposable income.
Concentration of main global businesses on this region, owing to accessibility of untapped opportunities, is also anticipated to push the development potential over the coming years. China’s elderly population touched around 220 million in 2016, and it is the only nation in the world with geriatrics approximately 200 million. This parameters is also backing toward the region’s high development rate.
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.
Asia Pacific is anticipated to observer the highest CAGR of 7.3% during the forecast time frame. Growing heart related disease, rising healthcare spending, and growing disposable income are expected to increase the development of the regional embolic protection devices industry.
The key players catering to the global Embolic protection devices market are Innovative Cardiovascular Solutions, LLC,Boston Scientific Corp.,Gore Medical,Claret Medical, Inc.,Medtronic Plc,Edward Life sciences,Abbott Laboratories, Cardinal Health, Transverse Medical, Inc.,and Allium Medical. The global players are continuously investing in R&D and innovating new product portfolio to attract more and more business opportunity from the emerging nation such as India and China. Also, Increasing R&D investments coupled with technological advancements to commercialise highly efficient products are anticipated to offer lucrative opportunities for industry participants.
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