TORONTO--()--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the market for transcatheter embolization and occlusion (TEO) in Belgium, Luxembourg, the Netherlands, Denmark, Finland, Norway, Sweden, Spain and Switzerland will grow at a moderate four percent rate through 2016. While these markets are smaller than the large markets of Western Europe (France, Germany, Italy and the United Kingdom) and thus are not the focus of manufacturer marketing efforts, several of them, including the Nordic countries and Switzerland, have suffered less from the European debt crisis, and will see increased adoption of premium-priced products.
“This is a highly diverse and competitive market”
The peripheral vascular (PV) tumor indication will see the largest procedure volume growth through 2016, driven by high liver cancer incidence in these countries, as well as an industry focus on interventional oncology treatments. Adoption of premium priced radioembolization spheres and drug-eluting beads (DEB) in place of polyvinyl alcohol (PVA) particles and microspheres will lead to an average annual growth rate in procedure volumes of over eight percent.
The market for devices treating intracranial aneurysms will also expand significantly, as physicians begin to adopt premium-priced INR flow-diverting devices, sometimes at the expense of less-expensive INR coils. In 2011, INR embolization coils made up the largest portion of the European TEO device market.
“This is a highly diverse and competitive market,” said MRG Analyst Louise Murphy. “Few competitors provide products in all of the many market segments. The premium-priced products, including INR flow-diverting devices, radioembolization particles and DEBs, will be particularly dynamic, with new entrants competing with established companies. Uptake of these devices is highly dependent on positive clinical trial results, and manufacturers have accordingly invested significantly in gathering clinical data.”
Strong innovation and rapid growth of small companies has made them attractive targets for acquisition. In the INR flow-diverting device segment Chestnut Medical Technologies, with their pipeline embolization device (PED) was acquired by ev3 in 2009, and ev3 itself was subsequently acquired by Covidien in 2010. In the DEB segment, BioSphere Medical was acquired by Merit Medical in 2010, and Biocompatibles was acquired by BTG in 2011.
Millennium Research Group’s European Markets for Transcatheter Embolization and Occlusion Devices (Part 2) 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for INR embolization coils, INR coiling-assist devices, INR flow-diverting devices, PV embolization coils, PV plugs, embolization particles, liquid embolics and TEO accessory devices sold in Belgium, Luxembourg, the Netherlands, Denmark, Finland, Norway, Sweden, Spain and Switzerland.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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