Embolic protection devices (EPDs) are primarily used during percutaneous cardiac procedures. They aid in reducing the number of complications arising due to blockages in small blood vessels caused by the debris that is released into the bloodstream. Embolic protection devices capture the blood and luminal debris within saphenous vein grafts during stenting, thereby inhibiting the distal embolization. These devices are considered a part of the most reliable, evidence-based procedure for reducing periprocedural myocardial infarction and other major cardiovascular events. This procedure is always accompanied by imaging systems so as to ensure proper placement of the device.
Rising prevalence of cardiovascular diseases across the globe, growing penetration by local market players that offer devices at relatively lower average selling prices due to reduction in transportation costs, and innovation in the design and material of devices are some of the factors likely to drive the global embolic protection devices market during the forecast period. However, certain limitations associated with each of the product types and group purchasing policies of large chain hospitals impose pricing pressures on manufacturers. This factor is likely to restrain the embolic protection devices market during the forecast period. The continuously rising investment in research and development by major market players to overcome these limitations is likely to fuel the global embolic protection devices market during the forecast period.
The global embolic protection devices market can be categorized based on product, usage, application, end-user, and region. Based on product, the global embolic protection devices market can be divided into balloon occlusion devices, catheter occlusion devices, and filter devices. Balloon occlusion devices function by advancing a balloon at the target site and inflating it by occluding distant vessel. Filter devices rely on the positioning of the filter membrane. Based on usage, the global embolic protection devices market can be bifurcated into disposable devices and re-usable devices. Based on application, the global embolic protection devices market can be classified into peripheral artery diseases, coronary artery diseases, carotid artery diseases, and renal artery diseases. In terms of end-user, the global embolic protection devices market can be categorized into ambulatory care centers, hospitals, and specialty clinics.
Geographically, the global embolic protection devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is likely to account for a major share of the global embolic protection devices market during the forecast period, owing to rising demand for technologically advanced products, significant adoption of newly developed products among end-users, and higher cost of devices in the region. Asia Pacific is projected to offer significant potential for growth of the embolic protection devices market during the forecast period, owing to the large number of patients with cardiovascular diseases demanding low-cost products, improving health care infrastructure, and rising reimbursement coverage for cardiologic anomalies in the region.
Cutting-edge design, high torqueability, and improved ability in capturing plaque debris act as major growth opportunities for manufacturers operating in the global embolic protection devices market. Strategic mergers and acquisitions in emerging markets with high growth potential in order to extend geographical coverage in countries with significant patient population but without proper utilities is a growing trend among key players operating in the global embolic protection devices market. Key players operating in the global embolic protection devices market are Abbott, Medtronic, Boston Scientific Corporation, Cardinal Health, Edwards Lifesciences Corporation, LEPU MEDICAL TECHNOLOGY (BEIJING) CO., LTD., Allium Medical Solutions Ltd., W. L. Gore & Associates, and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.