PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515530
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515530
Vascular Embolization Market size was valued at USD 4,567.23 Million in 2023, expanding at a CAGR of 7.8% from 2024 to 2032.
Vascular embolization is a medical procedure used to block blood vessels. It involves inserting a special substance, such as a coil, clotting agent, or synthetic material, into a blood vessel to obstruct or reduce blood flow to a specific area of the body. This technique is commonly employed to treat various conditions, including controlling bleeding and reducing blood supply to tumors.
Vascular Embolization Market- Market Dynamics
Growing preference for non-surgical treatments along with the rise in the prevalence of vascular diseases are expected to propel market demand
As the incidence of conditions such as arteriovenous malformations (AVMs), aneurysms, and vascular tumors rises, the demand for vascular embolization procedures increases, which in turn is expected to bolster market growth. Vascular embolization procedures are often minimally invasive compared to traditional surgical options, leading to reduced recovery times, fewer complications, and shorter hospital stays. In addition, Patients and healthcare providers increasingly favor non-surgical interventions like vascular embolization over open surgeries, due to the benefits and quicker recovery times.
Further, increased healthcare spending and improved access to healthcare services contribute to the growth of the vascular embolization market, allowing more patients to undergo these procedures. Moreover, the development of healthcare facilities and the availability of advanced medical equipment in emerging markets drive the adoption of vascular embolization procedures globally. These factors collectively contribute to the expansion of the vascular embolization market.
Vascular Embolization Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.8% over the forecast period (2024-2032)
Based on Embolization Technique segmentation, the non-coiling devices segment was predicted to show maximum market share in the year 2023, owing to the high prevalence of chronic diseases.
Based on Application segmentation, the peripheral vascular diseases segment was the leading Application in 2023, due to the high prevalence of cardiovascular disorders.
Based on End User segmentation, the hospital segment was the leading End User in 2023, owing to the high demand for treatment of vascular diseases including heart diseases.
Based on region, North America was the leading revenue generator in 2023, owing to the greater prevalence of vascular, and cancer disorders.
The Global Vascular Embolization Market is segmented based on Embolization Technique, Application, End User, and Region.
The market is divided into two categories based on Embolization Technique: coiling devices and non-coiling devices. The non-coiling devices segment dominates the market. The growing prevalence of chronic conditions is enhancing market growth.
The market is divided into five categories based on Application: peripheral vascular disease, oncology, neurology, urology and others. The peripheral vascular disease segment dominates the market. The rising number of cancers and tumor related disorders are mainly boosting the segment growth.
The market is divided into three categories based on End Users: hospitals, clinics, and others. The hospital segment dominates the market and is expected to maintain its high dominance during the forecast period. The high need for the treatment of heart, tumor necrosis, and other vascular diseases at hospitals is contributing to market growth.
Vascular Embolization Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominates the vascular embolization market, primarily due to well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced medical technologies. The United States is a major contributor to market growth, driven by a large number of patients in cancer, and heart diseases and extensive research and development activities in medical devices.
The Vascular Embolization market is mainly formulated by small & large market players. Major players in the market are expanding their product portfolios through acquisitions, partnerships, and collaborations with smaller firms specializing in complementary technologies. This strategy helps in offering comprehensive solutions and capturing a larger market share. There is a growing trend towards developing patient-centric solutions, considering factors such as ease of use, patient comfort, and long-term outcomes. Companies are incorporating feedback from healthcare providers and patients into their product development processes.
In 2022, Terumo Medical Corporation (TMC) has added AZUR Vascular Plug, the first and only plug to its portfolio which is compatible with a microcatheter to occlude arteries up to 8mm in diameter.
In March 2021, Instylla Inc. reported the enrollment of the first patients in the pivotal Embrace Hydrogel Embolic System (HES) for clinical trials.