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 involves the use of specialized medical devices or agents to block or reduce blood flow in blood vessels. It is a minimally invasive procedure used to prevent or treat life-threatening conditions such as stomach or intestinal bleeding, bleeding in the brain, and arteriovenous malformations.
Market key trends:
One of the key trends in the vascular embolization market is increasing adoption of minimally invasive procedures. Minimally invasive procedures such as vascular embolization involve small incisions and minimum trauma to patients as compared to open surgeries. They offer benefits such as shorter hospital stays, reduced procedural risks, less pain, and faster recovery time. Growing geriatric population suffering from chronic conditions is increasing the demand for minimally invasive procedures globally. This is expected to significantly drive the growth of vascular embolization market during the forecast period.
SWOT Analysis
Strength: Vascular Embolization is a minimally invasive procedure that allows for targeted treatment while reducing recovery time. It provides an alternative to open surgery for conditions like tumors or lesions.
Weakness: Embolization carries risks of infection, damage to nearby tissues, and recurrence of the condition. Not all conditions are suitable for this treatment.
Opportunity: Rising geriatric population prone to conditions amenable to embolization like liver cancer boosts demand. Growing awareness about minimally invasive treatments also provides opportunities.
Threats: Stringent regulations for approval of embolization devices may delay product launches. Reimbursement issues and cost of treatment poses threats in price sensitive markets.
Key Takeaways
The Global Vascular Embolization Market Size is expected to witness high growth, exhibiting CAGR of 9.5% over the forecast period, due to increasing preference for minimally invasive procedures.
Regional analysis
North America dominates the vascular embolization market owing to growing adoption of interventional radiology procedures and presence of major players. The Asia Pacific region is expected to grow at the fastest pace due to large patient population, rising healthcare investments and growing medical tourism.
Key players
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. Abbott Laboratories held the leading market share in 2023 owing to its robust portfolio of embolization products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
