>
The Vascular Embolization Market Size was valued at USD 1.7 Billion in 2022 and is projected to grow from USD 1.9 Billion in 2023 to USD 4.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.90% during the forecast period (2023 - 2032). Vascular illnesses are becoming more common, and embolization products and techniques have advanced technologically, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
TMC has unveiled its AZUR™ Vascular Plug, which is the first plug of its kind that can be used with a microcatheter to occlude up to 8mm arteries. The latest product strengthens their line of embolization tools for stenosing or blocking blood flow through blood vessels in peripheral arterial walls.
The Pipeline Flex Embolization Device from Medtronic PLC obtained approval from the FDA last month, and it is primarily intended for use on brain aneurysms. In this case, however, Shield Technology makes the flow diverter device less thrombogenic because of its material.
FDA has approved Edwards Lifesciences Corporation’s Amplatzer™ Vascular Plug II for treating patients with pulmonary arteriovenous malformations (PAVMs).
In June 2022, Cook Medical received clearance from the FDA for the NirMesh™ Vascular Occlusion Device for the treatment of varicose veins patients.
Embozene™ Microspheres by Johnson & Johnson Services, Inc. was recently approved by the FDA as a medicine that cures symptomatic cerebral arteriovenous malformations (AVMs), among other illnesses.
Penumbra®, Inc., European, launched the Penumbra® MAX System during the past month to handle intracranial aneurysm treatments.
Boston Scientific Corporation has been given the green light by the FDA on Solitaire™ Flow Restoration Device meant to treat symptomatic intracranial arteriovenous malformations (AVMs) patients.
Today, Fluidx Medical announced the ULTRA™ embolic platform designed to make therapeutic embolization procedures safer, better, and faster. Embolization is a catheter-based minimally invasive method aimed at closing down supplying blood vessels either partially or entirely targeted at various body organs and blood vessels. Every year, tiny embolic particles, metal coils, and liquid-to-solid devices costing over $3.5 billion are used for the treatment of internal bleeding, aneurysms, fistula, uterine fibroids, tumors, prostates, and malformations, among other conditions in the body.
Terumo Medical Corporation (TMC) announced today that it is launching AZUR™ Vascular Plug, which is the first and only plug compatible with a microcatheter that can occlude arteries up to 8mm in diameter. This new addition to their family of embolizations is indicated for use in diminishing or arresting rates of arterial blood flow.
The main drivers of the worldwide vascular embolization market are technological developments in embolization products and techniques, increased R&D activities, and the growth in demand for minimally invasive procedures. Patients' preferences for various ailments are changing in recent years to choose minimally invasive therapies. Additionally, because the recovery time is less than with conventional open procedures, it is safer. Vascular embolization is another minimally invasive technique used to stop the blood flow to aberrant tissue masses. The market is growing as a result of patients' shifting preferences toward less invasive vascular embolization. The market for vascular embolization is predicted to grow as demand for minimally invasive procedures increases.
The increased success rate of embolization plugs in non-invasive procedures for vascular occlusion, together with other technological developments in this field, are also anticipated to drive the market's expansion. However, the high cost of vascular embolization and its related problems limit market growth. The use of embolotherapy will also increase as cases of liver cancer and hepatocellular carcinoma rise. Opportunities will be created as a result of the untapped potential in emerging economies and the growing healthcare infrastructure during the predicted period. Additionally, the demand for sophisticated healthcare services is increasing, governments of various nations are making sizable investments to improve healthcare infrastructure, and the medical tourism sector is growing rapidly in emerging economies. All of these factors are contributing to the rapid growth of the healthcare sector in emerging economies. Therefore, it is anticipated that all of these variables would present the market with potential for growth.
The global market for vascular embolization is anticipated to increase over the course of the projected period as vascular illnesses become more prevalent around the world. Any disorder that compromises the blood vessel network is referred to as a vascular disease. They are widespread and may be dangerous. For instance, Terumo Medical Corporation stated that its AZUR Vascular Plug would be available starting in July 2021. It is the first and only plug that can occlude arteries using a micro-catheter with a diameter of up to 8 mm. It is advised to use the most recent addition to Terumo's wide range of embolization techniques to reduce or halt blood flow via the arteries in the peripheral vasculature. Over the course of the projection period, improvements in embolization tools and techniques are anticipated to boost market expansion. For instance, Terumo Medical Corporation announced the release of their AZUR Vascular Plug in July 2021. It is the first and only plug that can occlude arteries with a diameter of up to 8 mm using a micro-catheter. It is recommended to employ the newest addition to Terumo's extensive embolization portfolio to slow down or stop blood flow via the arteries in the peripheral vasculature. Thus, driving the Vascular Embolization market revenue.
The Vascular Embolization Market segmentation, based on embolization technique, includes coiling devices and non-coiling devices. Non-coiling devices segment dominated the global market in 2022. The category is anticipated to rise as a result of factors including the expanding target patient base and the rising burden of chronic diseases. The mortality rate has been rising over the past 20 years as a result of the rise in chronic diseases, with heart disease being the main cause of death globally, according to the World Health Organization report 2020. Nearly 2 million more heart-related fatalities have occurred since 2000, bringing the total to nearly 9 million in 2019. Heart disease now causes 16% of all fatalities in the US. This suggests that vascular embolization may have some market demand. Future growth of the studied market is anticipated as a result of the growing burden of various forms of chronic illnesses.
The Vascular Embolization Market segmentation, based on application, includes peripheral vascular disease, oncology, neurology, urology, and other. Neurology segment dominated the Vascular Embolization Market in 2022. This is due to an increase in brain aneurysm. Oncology, however, is anticipated to experience the greatest CAGR during the forecast period because to an increase in cancer patients.
Figure 1: Vascular Embolization Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Vascular Embolization Market dominated this market in 2022 (45.80%). This is brought on by the rising incidence of vascular- and cancer-related illnesses in this area, as well as rising research and development activities. The American Cancer Society predicts that among adolescents and young adults (AYAs) between the ages of 15 and 39, there will be around 89,500 cancer cases diagnosed and about 9,270 cancer deaths in the country in 2020. One of the most popular cancer therapy options for individuals with a range of clinical circumstances is embolization. The goal is to cause ischemia within the tumor, which will lead to tumor necrosis. Further, the U.S. Vascular Embolization market held the largest market share, and the Canada Vascular Embolization market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VASCULAR EMBOLIZATION MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Vascular Embolization market accounted for the healthy market share in 2022. This is brought on by the rising incidence of vascular- and cancer-related illnesses as well as the expansion of research and development efforts in this area. Further, the German Vascular Embolization market held the largest market share, and the U.K Vascular Embolization market was the fastest growing market in the European region
The Asia Pacific Vascular Embolization market is expected to register significant growth from 2023 to 2032. This is brought on by the region's growing population, altered lifestyles, and increased knowledge of vascular embolization. Moreover, China’s Vascular Embolization market held the largest market share, and the Indian Vascular Embolization market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Vascular Embolization market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Vascular Embolization Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Vascular Embolization Industry to benefit clients and increase the market sector. In recent years, the Vascular Embolization Industry has offered some of the most significant advantages to medicine. Major players in the Vascular Embolization market, including Shape Memory Medical Inc., Terumo Corp, Abbott Laboratories, Stryker Corporation, Cook Medical, Medtronic PLC, Merit Medical Systems Inc., Penumbra Inc., Johnson and Johnson (Cerenovus), and Boston Scientific Corporation, are attempting to increase market demand by investing in research and development operations.
Hospital and medical supplies, as well as equipment, are produced and sold by Terumo Corp. (Terumo). Pharmaceuticals, blood bags, disposable medical equipment, dietary supplements, cardiovascular systems, vascular grafts, blood glucose monitoring systems, medical electronics, peritoneal dialysis, and digital thermometers are some of its main product categories. The company's systems are used in cardiac and vascular surgery as well as therapies carried out inside blood vessels. Additionally, Terumo runs blood banks that collect and prepare blood in order to meet patient transfusion needs. The business operates through affiliates and subsidiaries across the Middle East, Africa, Europe, North America, South America, Asia Pacific, Japan, and China. Tokyo is where Terumo's headquarters are located. The AZUR Vascular Plug, the first and only plug compatible with a microcatheter to occlude arteries up to 8mm in diameter, will be made available by Terumo Medical Corporation (TMC) in July 2021. The newest addition to Terumo's extensive embolization range is intended for use to slow down or stop blood flow in peripheral vascular arteries.
A manufacturer of a variety of orthopedic, medical, surgical, neurotechnology, and spine equipment as well as related services, Stryker Corp (Stryker) is a leader in the field of medical technology. The company's main goods include orthopedic implants, surgical tools and navigation systems, patient handling tools, disposable intensive care items, and endoscopic and communication systems. Additionally, it supplies medical devices for use in a range of ailments as well as neurosurgical equipment, neurovascular, and spinal devices. Doctors, hospitals, and other healthcare facilities can purchase products from Stryker. In the Americas, Europe, Asia-Pacific, the Middle East, and Africa, the corporation distributes its products through subsidiaries, branches, independent dealers, and distributors. The U.S. city of Kalamazoo, Michigan, is home to Stryker's headquarters. Wright Medical, a multinational business that specializes in extremities and biologics that manufactures medical devices, was acquired by Stryker in November 2020.
Key Companies in the Vascular Embolization market include
Vascular Embolization Industry Developments
February 2021: In order to install balloon dilation catheters during percutaneous transluminal angioplasty, Cook Medical introduced Approach Authority 0.018 diameter Workhorse Microwire Guide in the United States and Canada. This device serves many functions within the same treatment.
August 2020: After receiving US approval for the Surpass Evolve flow diverter, which is indicated for brain aneurysms, Stryker announced the product's debut.
April 2021: The Pipeline Flex Embolization Device with Shield Technology of Medtronic PLC, which was primarily suggested for brain aneurysms, was authorized by the US Food and Drug Administration (FDA). Shield Technology improves the flow diverter device by reducing the material's thrombogenicity.
Vascular Embolization Market Segmentation
Vascular Embolization: Embolization Technique Outlook
Vascular Embolization Application Outlook
Vascular Embolization Regional Outlook
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)