According to medical device market intelligence experts Millennium Research Group(MRG), adoption of premium-priced devices will drive market growth in the European transcatheter embolisation and occlusion (TEO) market.
Despite declining average selling prices in all device segments, market growth will outpace procedural growth, as newer, more expensive devices are used in place of more established devices. This will be particularly significant in the embolisation particle and flow-diverting device segments.
Millennium Research Group’s European Markets for Transcatheter Embolization and Occlusion Devices 2012 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for Interventional neuroradiology(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 France, Germany, Italy and the United Kingdom.
Across Europe, improved detection and screening has revealed large undertreated populations with hepatocellular carcinoma as well as metastatic liver cancer. Both diseases can be treated in a targeted fashion using radioembolisation. The report predicts that combined with an increasing focus on innovative interventional oncology treatments, this will lead to increased volume of procedures using radioembolisation particles and drug-eluting beads through 2016.
The two main competitors in the European radioembolization particle market, Nordion and Sirtex Medical, are actively investing in clinical trials and marketing practices to drive awareness and gain reimbursement status for these devices.
Secondly, INR flow-diverting devices are an effective new technology for treating intracranial aneurysms. These devices could represent a universal solution for the most difficult to treat aneurysm cases, such as fusiform, wide-neck, giant and multilobar aneurysms because they reconstruct the diseased portion of patients’ arteries without putting pressure on aneurysm walls. Premium-priced INR flow-diverting devices will thus see strong growth, partially at the expense of current treatments using INR embolization coils and coiling-assist devices.
“These innovative markets are attractive to new entrants,” said MRG Analyst Louise Murphy. “The European INR flow-diverting device market, for example, is relatively small, with only two competitors, BALT Extrusion and ev3 (a Covidien company). But a number of devices with a similar neck-bridging concept are entering the market, Surpass Medical being the first example. These companies are promoting aggressively to drive adoption. We can expect to see a lot of volatility in their market shares through 2016.”
Source: Millennium Research Group, Business Wire