Vascular Embolization Market Analysis

Embolization is a minimally invasive treatment (an alternative to open surgery) that blocks one or more blood vessels or abnormal vascular channels. Embolization procedures allow blockage of blood vessels without invasive surgery. Embolization can be used to stop arterial bleeding, and can also be used to block blood vessels for other reasons, such as to treat tumors, re-direct flow, or shrink vascular malformations, among others. Embolization is a very common and effective procedure in interventional radiology. Vascular embolization agents are used to stop flow in blood vessel or vascular area by the means of mechanical occlusion. High success rate, rare use of general anesthetics, faster recovery time, minimal risk of infection, and no scarring are some features of vascular embolization agents.

Market Statistics:

The global vascular embolization market was valued at US$ 1,509.1 Mn in 2021 and is forecast to reach a value of US$ 2,851.5 Mn by 2028 at a CAGR of 9.5%between 2022 and 2028.

North America held dominant position in the global vascular embolization market in 2020, accounting for 41.2% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Vascular Embolization Market Share (%), by Region, 2021

Recent Developments:

In February 2021, Cook Medical launched Approach Authority 0.018 diameter Workhorse Microwire Guide in the United States and Canada intended for placement of balloon dilation catheters during percutaneous transluminal angioplasty and can be used for multiple purposes in same procedure.

In November 2020, Stryker completed the acquisition of a global company manufacturing medical devices and specialized in extremities and biologics, Wright Medical.

In August 2020, Stryker announced the launch of Surpass Evolve flow diverter following approval in the United States which is indicated in brain aneurysms.

Vascular Embolization Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 1,509.1 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2028
Forecast Period 2022 to 2028 CAGR:	9.5%	2028 Value Projection:	US$ 2,851.5 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Embolization Technique: Coiling Devices and Non-coiling Devices By Application: Peripheral Vascular Disease, Oncology, Neurology, Urology, and Other Applications
Companies covered:	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
Growth Drivers:	Increasing prevalence of vascular diseases Advancements in embolization products and procedures
Restraints & Challenges:	Complications associated with embolization procedures High costs associated with embolization procedures

Market Drivers:

1. Increasing prevalence of vascular diseases across the globe is expected to propel the growth of the global vascular embolization market during the forecast period. Vascular disease is any condition that affects the network of blood vessels. They are common and can be serious. For instance, according to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. This represents 35% of global deaths.
2. Advancements in embolization products and procedures is expected to augment the growth of the global vascular embolization market over the forecast period. For instance, in July 2021, Terumo Medical Corporation announced the launch of its AZUR Vascular Plug, the first and only plug compatible with a micro-catheter to occlude arteries up to 8mm in diameter. The new addition to Terumo's robust embolization portfolio is indicated for use to reduce or block the rate of blood flow in arteries of the peripheral vasculature.

Figure 2. Global Vascular Embolization Market Share (%) in Terms of Value, by Embolization Technique, 2021

Market Restraints:

1. Complications associated with embolization procedures is expected to hinder growth of the global vascular embolization market. There is always a chance that an embolic agent can lodge in the wrong place and deprive normal tissue of its oxygen supply. There is a risk of infection after embolization, even if an antibiotic has been given. In patients with liver cancer that are treated using embolism develops, fever, pain in the right hypochondrium (region of abdomen), and a rise in transaminases as complications.
2. High cost of embolization procedures is expected to hamper the growth of the global vascular embolization market. Although the procedure has numerous benefits, it is expensive, especially for the needful patients in developed/developing countries. The prevalence of vascular diseases is increasing globally. However, due to the higher costs of procedures, access to these facilities is prohibited in developing and underdeveloped countries.

Market Opportunities:

1. Increasing preference for minimally invasive procedures is expected to provide significant growth opportunities for players in the market. For instance, according to the American College of Cardiology, in 2020, around 1.2 million angioplasties were performed in a year in the United States. Moreover, the high accessibility and affordability of hospitals, compared to the specialty clinics, are expected to attract a large patient population.
2. Increase in demand for novel treatments is expected to offer lucrative growth opportunities for players in the market. For instance, in December 2020, Terumo Corporation launched WEB Embolization System, an intrasaccular aneurysm treatment device, in Japan to provide novel treatment options for brain aneurysm cases that were difficult to treat with currently approved methods. It is a first-of-its-kind intrasaccular flow disruptor device available in Japan.

Market Trends/Key Takeaways:

1. Surge in usage of clot agents is expected to drive growth of the global vascular embolization market. For instance, in October 2020, Cerenovus, part of Johnson & Johnson Medical Devices Companies, announced the European launch of CERENOVUS NIMBUS, designed to remove tough clots for successful revascularization in patients with acute ischemic stroke caused by a large vessel occlusion. Cerenovus Nimbus is designed to remove tough clot.
2. Rise in cases of automobile accidents across the globe is expected to augment growth of the global vascular embolization market. For instance, embolization provides expedited/minimally invasive control of bleeding with less disruption of normal tissues than surgery, and plays vital role in the non-operative management of many traumatic injuries, resulting in a decreased need for blood transfusion and improved survival. According to WHO, road traffic injuries are the leading cause of death, around 1.3 million people die each year as a result of road accidents.

Competitive Landscape:

1. Medtronic PLC
2. Cook Medical
3. Stryker Corporation
4. Boston Scientific Corporation
5. Abbott Laboratories
6. Johnson and Johnson (Cerenovus)
7. Merit Medical Systems Inc.
8. Penumbra Inc.
9. Terumo Corp
10. Shape Memory Medical Inc.