Embolic protection: Key market research findings
- The Americas to dominate the market geographically
- Hospitals to account for a majority share of the market revenue
- Key vendors – Abbott Laboratories, Boston Scientific, Cardinal Health, and Medtronic
Technavio’s market research analysts predict the global embolic protection devices market to grow at a CAGR of almost 7% between 2016 and 2020. The growth in the market is spurred by research collaborations between manufacturers and medical professionals for the development of customized products. Vendors are collaborating with healthcare practitioners to increase the efficiency of cranial reconstruction surgeries and to improve customer satisfaction. Vendors invest in research funding and facilities, while the specialists offer their experience and knowledge. During 2015, the Americas led the global embolic protection devices market by accounting for around 52% of the overall market share. The increasing adoption of craniomaxillofacial (CMF) devices and the high number of CMF surgical procedures will propel growth in the global embolic protection devices market in the Americas in the coming years.
The new market research report from Technavio presents a breakdown and analysis of the embolic protection device segments based on the end-user.
“Advances in instrumentation and imaging is leading to developments in endoscopic skull base surgery techniques. The conventional open techniques are relatively affordable compared to the advanced 3D techniques. Once the surgeons get familiarized to advanced techniques, the alteration or modification of surgeries is possible based on the patient’s condition. This is a slowly growing trend as a lot of expertise is required to alter or modify these new techniques,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
In 2015, the hospitals segment accounted for around 88% of the overall market share to become the key revenue generator in the embolic protection devices market globally. The high growth rate of this segment can be accredited to the availability of CMF devices in hospitals, increasing demand for CMF surgeries due to accidents. Hospitals with more beds and advanced emergency services and facilities often collaborate with manufacturers or distributors of CMF devices. They maintain the best inventory, and in the case of a shortage, the procurement of devices happens faster than smaller hospitals.
The prominent players in the global embolic protection devices market include Abbott Laboratories, Boston Scientific, Cardinal Health, and Medtronic. At present, this market is growing steadily and is envisaged to exhibit rapid growth over the next few years due to the presence of many global and regional vendors that offer a wide range of embolic protection devices. In 2015, Medtronic, Abbott Laboratories, Boston Scientific, and Cardinal Health were the leading contributors to the market, with Medtronic offering products such as SpiderFX distal filter embolic protection device, MO. MA Ultra proximal cerebral protection system, GuardWire temporary occlusion and aspiration system proximal cerebral protection device, and FiberNet embolic protection device for both balloon occlusion and distal filters.
A more detailed analysis is available in the Technavio report, Global Embolic Protection Devices Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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