Vascular Embolization Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Vascular Diseases and Technological Advancements in Medical Devices
Vascular Embolization Market
The Vascular Embolization Market is estimated to be valued at US$1,509.1 Mn in 2021 and is expected to exhibit a CAGR of 9.5% over the forecast period 2022 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Vascular Embolization market refers to the medical procedure used to treat
various vascular diseases, such as aneurysms, arteriovenous malformations, and
uterine fibroids. It involves the delivery of embolic agents into blood vessels
to block the abnormal blood flow. This procedure helps in reducing the risk of
bleeding and shrinking abnormal growths in the blood vessels. The rising
prevalence of vascular diseases, such as cardiovascular disorders and tumors,
is driving the demand for vascular embolization procedures. Moreover,
technological advancements in medical devices, such as the development of advanced
embolic agents and minimally invasive delivery systems, are further enhancing
the efficacy and safety of the procedures.
Market Dynamics:
The Vascular Embolization market is driven by the increasing prevalence of
vascular diseases, such as atherosclerosis, aneurysms, and tumors. The growing
geriatric population, sedentary lifestyles, and rising healthcare expenditure
are contributing to the high demand for vascular embolization procedures.
Additionally, advancements in medical devices, such as the use of shape memory
materials and biodegradable embolic agents, are improving the overall outcomes
of the procedures. Furthermore, the adoption of minimally invasive techniques
for vascular embolization is increasing, as they offer benefits such as reduced
hospital stays, faster recovery, and lower risk of complications. These factors
are expected to drive the growth of the Vascular Embolization market over the
forecast period.
Segment Analysis:
The vascular embolization market can be segmented based on product type,
application, and end-user. In terms of product type, the dominating segment is
the liquid embolic agents. This is because liquid embolic agents offer
advantages such as precise delivery, controlled embolization, and ease of use.
They are commonly used for the treatment of arteriovenous malformations and
tumor embolization. Moreover, the increasing prevalence of neurovascular
disorders and the rising demand for minimally invasive procedures are driving
the growth of the liquid embolic agents segment.
PEST Analysis:
Political: The political factors influencing the vascular embolization market
include government regulations and healthcare policies. Stringent regulations
regarding the safety and efficacy of medical devices can impact market growth.
Economic: The economic factors affecting the market include healthcare
expenditure, reimbursement policies, and the purchasing power of consumers.
Increasing healthcare expenditure and favorable reimbursement policies are
expected to drive market growth.
Social: The social factors influencing the market include the aging population,
increasing awareness about minimally invasive procedures, and the rising
prevalence of chronic diseases. These factors contribute to the growing demand
for vascular embolization procedures.
Technological: The technological factors affecting the market include
advancements in imaging technology, the development of novel embolic materials,
and the introduction of robotic-assisted procedures. These technological
innovations are improving the outcomes of vascular embolization procedures and
attracting healthcare professionals and patients.
Key Takeaways:
The global Vascular Embolization Market is
expected to witness high growth, exhibiting a CAGR of 9.5% over the forecast
period. This growth can be attributed to increasing demand for minimally
invasive procedures and the rising prevalence of neurovascular disorders.
In terms of regional analysis, North America is the fastest-growing and
dominating region in the vascular embolization market. This can be attributed
to the presence of well-established healthcare infrastructure, increasing
healthcare expenditure, and a high prevalence of chronic diseases in the
region.
Key players operating in the 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. These key players
contribute to the market growth through product innovation, strategic
collaborations, and mergers and acquisitions.
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