Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "Embolic Protection Device Market, Global Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Global Embolic Protection Device Market is forecasted to grow and reach US$ 713.6 Million by 2027. Embolic Protection Devices are catheter-based devices that are used to capture atherothrombotic debris that is released during percutaneous vascular interventions.
The embolic protection device has helped reduce the number of complications that are caused due to the release of junk in the bloodstream, which results in blockages in small vessels. Percutaneous intervention for treating coronary and peripheral atherosclerotic disease has become a well-established technique and has been recently extended to the carotid arena.
Global Embolic Protection Device industry is expected to grow at a CAGR of 7.9% during Forecast period.
The rise in the elderly population, the increase in cardiovascular cases, and the growing preference for minimally invasive procedures are some factors that add to the growth of the global embolic protection devices market. According to the World Heart Federation (WHF), every year, 15 million people suffer from stroke. Each year, brain aneurysms account for approximately 50,000 deaths, per the statistics published by the Brain Aneurysm Foundation (BAF). It also found that aneurysms are more common among the age group 40 to 60.
Furthermore, the manufacturers involved in the embolic protection devices are majorly engaged in increasing product reliability, product range expansion, and investing in research & development activities. As a result, according to our research, the global embolic protection device market was at US$ 486.2 Million in 2022.
Nevertheless, the availability of alternatives and strict regulations enforced by society are the restraining factors of the market.
Easy operation to push Distar Filter market demand in upcoming years
Based on products, the worldwide embolic protection devices market is segmented into; distar filter devices, distar occlusion devices, and proximal occlusion devices. The distar filter devices have dominated the market share through the years and are expected to grow significantly during the forecast period. The reason for its constant growth through the years is the availability of a wide range of specifications and escalating uptake of distal filters, and the usage of distal filters helps in maintaining the flow of blood and traps large debris beneficial in comparison to proximal occlusion systems. The distal occlusion devices are expected to increase due to the ease of usage offered by devices and the accessibility of the devices and filters across specifications.
Rising cases of Peripheral vascular diseases will foster application segment outlook
The report divides the application segment into; cardiovascular diseases, neurovascular diseases, and peripheral vascular diseases. Peripheral vascular diseases are forecasted to grow at an increasing rate. This growth can be attributed to raising awareness of minimally invasive procedures and increasing cases of lifestyle disorders that lead to different kinds of serious diseases. In the U.S., around 12-20% of people aged 60+ years are estimated to suffer from peripheral vascular disorders, according to the Centre for Disease Control and Prevention (CDC).
Cardiovascular diseases are rising due to the increase in the older population worldwide. This is the major contributor to the growth and dominance of the segment over the years. In addition, the collective number of skilled healthcare professionals and access to technologically improved medical devices in hospitals will also contribute to the market's growth.
High-quality treatment in minimal time to accelerate hospital market trends
The end-user category is divided into; hospitals and ambulatory surgical centers. Hospital dominance can be attributed to the rising incidence of cardiovascular diseases, the availability of skilled and experienced medical personnel, increasing demand for surgical procedures in hospitals, and technologically improved and new medical devices.
Asia Pacific is expected to witness lucrative growth in the next few years
Geographically, the global embolic devices market is split up into; North America, Europe, Asia-Pacific, Latin America, Middle-East, and Africa. However, the North American region has the highest revenue. The region's high market share can be attributed to the rising prevalence of neurovascular and cardiovascular diseases and increasing cases of obesity, lifestyle patterns, and unhealthy eating habits.
However, Asia Pacific is expected to witness lucrative growth during the upcoming years. The region's growth can be attributed to funding and investments from public and private entities, improved healthcare infrastructure, and rising disposable income. Also, the major international companies are focusing on this region due to the presence of new and unexplored opportunities, which is also expected to add to the growth potential over the forecast period. Furthermore, a high geriatric population in the region is also contributing to its growth. For instance- According to World Health Organisation (WHO), China's aging population reached 254 million in 2019 and is expected to reach 402 million by 2040.
Key Market Players
The global market is highly competitive, so to keep up and retain the industry share and diversify the product portfolio, most of the following companies have undertaken various market strategies, such as mergers and acquisitions. As a result, some key players in the EPDs market are; Medtronic, Abbott Laboratories, Boston Scientific, Cordis, Silk Road Medical, Abiomed, and Edwards Lifesciences Corporation.
In May 2022, Medtronic acquired Intersect ENT to improve and treat nasal polyps and postoperative outcomes.
In February 2022, Boston Scientific acquired Baylis Medical Company. This acquisition allows Boston Scientific to integrate the Baylis platforms with our existing electrophysiology and structural heart offerings, further strengthening position within the highest-growth cardiology markets.
Product - Embolic Protection Devices Market breakup from 3 viewpoints:
1. Distal Filter Devices
2. Distal Occlusion Devices
3. Proximal Occlusion Devices
Application - Embolic Protection Devices Market breakup from 3 viewpoints:
1. Cardiovascular diseases
2. Neurovascular diseases
3. Proximal vascular diseases
End-user - Embolic Protection Devices Market breakup from 2 viewpoints:
1. Hospitals
2. Ambulatory Surgical Centres
Region - Embolic Protection Devices Market breakup from 5 Regions:
1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle-East & Africa
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $486.2 Million |
| Forecasted Market Value (USD) by 2027 | $713.6 Million |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/h91phf
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