(PharmaNewsWire.Com, June 19, 2021 ) The Factors such as the rising incidence of cardiovascular and neurovascular diseases, growing funding and investments, launch of technologically advanced embolic protection devices, and rising demand for minimally invasive procedures are expected to drive the growth of the market. On the other hand, product failures and recalls may hinder the overall market growth to a certain extent during the forecast period.
Expected Revenue Surge: The Global Embolic Protection Devices Market projected to reach USD 604.9 Million, at a CAGR of 8.3% during the forecast period.
Objectives of the Study;
- To define, describe, and forecast the embolic protection devices market by product type & material, application, indication, end user, and region
- To provide detailed information about the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
- To analyze the market opportunities for stakeholders and provide details of the competitive landscape for key players
Categorized into cardiovascular, neurovascular, and peripheral vascular diseases. The neurovascular segment is expected to grow at the highest CAGR during the forecast period. The favorable medical reimbursement scenarios for neurovascular procedures in developed countries, increasing awareness about the clinical efficacy of embolic protection devices among neurosurgeons, and the rising adoption of these systems across developing countries (such as China and India) are expected to drive the growth of this application segment during the forecast period.
Hospitals are expected to be the largest end users of embolic protection devices during the forecast period
The major end users of embolic protection devices market are hospitals and ambulatory surgical centers. The hospital segment is expected to grow at the highest CAGR during the forecast period. The market for this segment is mainly driven by factors such as the growing number of angioplasty procedures performed in hospitals, rising incidence of chronic vascular diseases, favorable reimbursement scenario in developed countries, growing number of hospitals, and increasing government initiatives to provide quality treatment for cardiovascular diseases.
Geographically; North America dominated the embolic protection devices market. The rising geriatric population and prevalence of cardiovascular and neurovascular diseases, increasing adoption of minimally invasive techniques, increasing availability of funding, and the presence of a large number of medical device product manufacturers are driving the growth of the market in North America. However, the APAC is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the growing geriatric population, rising prevalence of CVD, increasing number of facilities, and rising healthcare expenditure.
The prominent players in the embolic protection devices market are Boston Scientific (US), Medtronic (Ireland), Abbott (US), Cordis (A Cardinal Health Company) (US), Allium Medical (Israel), Contego Medical (US), W.L. Gore & Associates (US), Silk Road Medical (US), Claret Medical (US), and AngioSlide (Israel).
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