The global vascular embolization market is estimated to be valued at US$ 1809.45 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Vascular embolization refers to minimally invasive procedures used to block or reduce blood flow in a blood vessel. Embolization products like embolic agents, support devices, and accessories including guidewires, microcatheters, and guide catheters are used to reduce blood flow so that tumors and malformed arteries don't receive enough blood supply to grow. Embolization procedures help in treating conditions like uterine fibroids, hemorrhaging, and liver tumors.
Market key trends:
One of the key trends in the vascular embolization market is the rising usage of embolization coils. Embolization coils are expandable helical or random wound devices made from platinum, platinum-tungsten alloys or other radiopaque materials. Upon delivery into the target vessel, they cause thrombosis and cause occlusion of blood vessels. Better imaging capabilities and navigation guidance during procedures have increased usage of these coils for indications like brain aneurysms and other vascular abnormalities. Factors like minimal invasiveness, faster recovery times, and rising target disease incidence will continue driving the embolization coils segment.
Segment Analysis
The global vascular embolization market is segmented by product type, procedure, application, end-user, and region. Based on product type, the market is categorized into embolization coils, liquid embolic agents, embolic plug systems, and detachable balloons. Among these, the embolization coils segment held the largest market share in 2022 owing to its advantages such as high occlusion success rate, easy biocompatibility, and safe removal or retrieval if needed in case of complications.
The procedure segment of the market is divided into transcatheter arterial embolization, transarterial embolization, and transvenous embolization. Transcatheter arterial embolization dominates the segment as it provides permanent vascular occlusion at the targeted site with minimal invasiveness and risk of complications.
Based on application, the market is classified into oncology, neurology, peripheral vascular disease, cardiology, and others. The oncology segment dominates due to rising prevalence of liver, lung, kidney, and other types of cancer.
Key Takeaways
The Global Vascular Embolization Market Size was valued at US$ 1809.45 Mn in 2023 and is expected to reach US$ 3593.00 Mn by 2030, expanding at a CAGR of 9.5% during the forecast period.
By region, North America dominated the global market in 2023 with a share of around 35.0% owing to availability of advanced healthcare facilities, favorable reimbursement policies, and rising prevalence of target diseases. Asia Pacific is anticipated to be the fastest-growing region on account of rising healthcare expenditure, presence of untapped opportunities, and improving infrastructure.
The key players operating in the vascular embolization market are Shape Memory Medical Inc., Terumo Corp, Penumbra Inc., Abbott Laboratories, Stryker Corporation, Cook Medical, Medtronic PLC, Merit Medical Systems Inc., Johnson and Johnson (Cerenovus), and Boston Scientific Corporation, among others. The major players are focusing on new product launches, partnerships, and acquisition strategies to gain a competitive edge in the market. For instance, in January 2023, Terumo acquired Essen Technologies, a medical device company, to strengthen its embolization product portfolio.
Read More: https://www.ukwebwire.com/vascular-embolization-market-size-share-and-growth-forecast-2023-2023/
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