The Embolization Market is Estimated To Witness High Growth Owing To Increased Use of Embolization in Improving Minimally Invasive Procedures

Market Overview:
Embolization refers to minimally invasive procedures that block or plug blood vessels intentionally. Embolization procedures use embolic agents such as gelfoam, coils and liquid agents injected via a catheter to block blood flow to certain organs or tissues. Embolization is increasingly being used as an alternative to surgery for conditions such as tumor embolization, uterine fibroid embolization and arteriovenous malformation embolization. Embolization provides advantages over surgery such as shorter hospital stays, faster recovery times and reduced risks associated with general anesthesia.

Market key trends:
One of the key trends driving growth of the embolization market is increasing use of embolization for improving minimally invasive procedures. Embolization expands the scope of minimally invasive procedures by cutting off blood supply to diseased tissues or organs. For instance, transcatheter arterial embolization (TAE) is increasingly being used as an alternative to surgery for conditions such as liver cancer which reduces risks, recovery times and costs associated with surgery. Moreover, newer embolic agents such as hydrogels, drug eluting beads and liquid embolic agents provide enhanced performance during embolization procedures further promoting adoption. Manufacturers are also developing advanced embolization devices with improved deliverability and occlusion capabilities to expand treatment options.

Porter's Analysis

Threat of new entrants: The embolization market requires high R&D investments and regulatory approvals which pose significant entry barriers.

Bargaining power of buyers: The presence of many established players reduces the bargaining power of buyers in the market.

Bargaining power of suppliers: The suppliers have moderate bargaining power due to the availability of substitutes.

Threat of new substitutes: New treatment alternatives like drug eluting beads pose threat of substitution.

Competitive rivalry: Intense due to the presence of major global players.

SWOT Analysis

Strengths: High growth forecasts, technological advancements in embolization devices.

Weaknesses: High costs associated, risks of complications.

Opportunities: Rising geriatric population, growing adoption in emerging markets.

Threats: Stringent regulations, reimbursement issues.

Key Takeaways

The Global Embolization Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing geriatric population suffering from chronic diseases. North America is projected to dominate the embolization market during the forecast period owing to the growing prevalence of cancer and availability of advanced healthcare infrastructure in the region.

The embolization market in Asia Pacific is anticipated to grow at the fastest pace during the forecast period. Factors such as rising healthcare expenditure, growing medical tourism industry and increasing number of interventional radiology procedures are expected to fuel the market growth.

Key players operating in the embolization market are IMBiotechnologies Ltd., ABK Biomedical Inc., EmboMedics, Guerbet, Boston Scientific Corporation, Medtronic Plc., Varian Medical Systems, Inc., Terumo Corporation, Merit Medical Systems, Inc., Cook Group, and Johnson & Johnson.

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