Vascular Embolization Market To Be Valued at US$ 2,851.5 Mn By 2028 - Coherent Market Insights

Vascular embolization refers to the passage and lodging of an embolus within the bloodstream. Vascular embolization agents are used to acutely stop flow in blood vessel or vascular area by the means of mechanical occlusion. Vascular embolization agents are particles and fluids that can be released into the bloodstream through a catheter to mechanically or biologically occlude the target vessel, either temporarily or permanently. It is a common and effective procedure in interventional radiology. Embolization is a minimally invasive treatment that blocks one or more blood vessels or abnormal vascular channels. Embolization allow blockage of the blood vessels without invasive surgery. It is an alternative to open surgery.

Market Statistics:

The global vascular embolization market is estimated to account for US$ 1,651.9 Mn in terms of value by the end of 2022.

Drivers:

Increasing prevalence of vascular diseases worldwide is expected to propel growth of the global vascular embolization market. For instance, according to the article published in July 2020 in Cureus Journal of Medical Science, ischemic heart disease is one of the leading cause of death worldwide. Ischemic heart disease affects over 126 million people (1,655 per 100,000), around 1.72% of the world’s population. The global prevalence of ischemic heart disease is expected to exceed 1,845 per 100,000 by the year 2030. Thus, with the increasing prevalence of vascular diseases, the demand for vascular embolization devices.

Opportunities:

Increasing demand for vascular embolization device worldwide is expected to provide lucrative growth opportunities for players in the global vascular embolization market. For instance, in August 2020, Stryker launched the Surpass Evolve Flow Diverter following approval by the Food and Drug Administration (FDA). It is the first 64-wire cobalt chromium flow diverter in the U.S. designed to re-direct blood flow and promote aneurysm healing. It is Stryker’s latest innovation in flow diversion and following the launch of Surpass Streamline. The higher mesh density of Surpass Evolve may lead to faster aneurysm occlusion for patients

Restraints:

High cost of embolization procedures, complications associated with embolization procedures, and stringent regulatory norms are some major factors expected to hinder growth of the global vascular embolization market. The prevalence of vascular diseases is increasing with a rapid pace worldwide. However, owing to the higher costs of procedures, access to these facilities is prohibited in developing and underdeveloped countries. Authorities usually evaluate high-risk devices, such as vascular embolization devices, through a strict regulatory process to detect potential risks arising from devices and to safeguard patient safety.

Global Vascular Embolization Market - Impact of Coronavirus (Covid-19) Pandemic

Outbreak of COVID-19 has had a severe impact in the vascular embolization market growth, as hospitals and healthcare services for non-COVID indications were significantly reduced due to nationwide lockdowns (enforced to curb the spread of the virus). However, several research studies have proven that vascular embolization is safe during the pandemic if done with utmost care and precautions. This in turn is expected to have a positive impact on the growth of the vascular embolization market during the pandemic.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/vascular-embolization-market-5150

Key Takeaways:

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.

Among embolization technique segment non-coiling devices segment held dominant position in the global vascular embolization market in 2021, accounting for 67.8% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

1. Frequent approvals and launches of novel products is expected to boost growth of the global vascular embolization market. For instance, in April 2019, Stryker announced the availability of Surpass Evolve Flow Diverter following CE mark approval in March 2019. Surpass Evolve is Stryker's latest entrant into the flow diversion space for the treatment of brain aneurysms.
2. Introduction of novel products by market players is expected to augment growth of the global vascular embolization market. For instance, in May 2018, Guerbet LLC USA announced the launch of novel micro-catheters, such as SeQure and DraKon, for tumor and vascular aneurysm embolization procedures. The company introduced micro-catheters at the Global Embolization Symposium and Technologies (GEST) 2018 U.S., May 17-20 in Miami.

Competitive Landscape:

Major players operating in the global vascular embolization market include 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.

Recent Developments:

In September 2020, Boston Scientific signed an investment agreement to acquire Farapulse Inc., which focuses in developing Pulse Field Ablation (PFA) system for Atrial Fibrillation.

In August 2020, Stryker announced that the company has received the U.S. Food and Drug Administration’s (FDA’s) expanded indication approval for Atlas stent system used with metal coils to pack aneurysms in the back of the brain.