Vascular Embolization Market: Global Industry Analysis and Forecast (2021-2029) Trends, Statistics, Dynamics, Segment Analysis

Vascular Embolization Market size was valued at USD 4.2 Bn. in 2021 and the total Vascular Embolization revenue is expected to grow by 8 % from 2022 to 2029, reaching nearly USD 7.8 Bn.
Vascular Embolization Market Overview:
Vascular embolization is a surgical procedure that blocks the blood supply to a tumor or abnormal area of tissue. Embolization provides temporary or permanent relief for a variety of conditions by removing atypical blood vessel connections. Closing blood vessels that provide nourishment to tumors and other abnormal growths. Putting a stop or preventing excessive bleeding. The primary factor driving the growth of the vascular embolization market is an increase in the prevalence of vascular diseases, an increase in the cases of chronic diseases such as vascular diseases, an increase in the use of clot agents, an increase in demand for non-coiling devices, and an increase in the cases of automobile accidents worldwide. Moreover, an increase in the number of new product launches in the attention sector, an increase in the development of new coils in the embolization market, strategic developments by key market players such as mergers and collaborations, and an increase in the burden to treat vas diseases are some of the factors driving the growth of the vascular embolization market. However, the complications and high costs associated with these vascular embolization procedures limit the market's growth.

The primary factors driving the global vascular embolization market are technological advancements in embolization products and procedures, an increase in R&D activities, and an increase in demand for minimally invasive procedures. In recent years, patients' preferences for minimally invasive procedures for various diseases have shifted. It is safer than traditional open surgeries because it allows for a faster recovery. Vascular embolization is a minimally invasive procedure for cutting off blood supply to an abnormal tissue mass. As a result, the shift in patient preference toward minimally invasive vascular embolization drives the market growth. Additionally, the growing demand for minimally invasive procedures boosts the vascular embolization market in the forecast period.

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Vascular Embolization Market Dynamics:
Increasing demand from healthcare professionals

Coronary artery disease, cerebrovascular disease, and peripheral artery disease are the leading causes of illness and death in both developed and developing countries. Every year, the rising prevalence of these conditions creates a large pool of patients who require treatment and undergo vascular embolization procedures. For example, according to a Lancet article published in August 2019, the global prevalence of peripheral. The prevalence of peripheral artery disease (PAD) in people aged 25 and up was estimated to be around 5.6%. Additionally, these devices have been shown in clinical trials to be a viable alternative to embolic coils during an embolization procedure. In contrast to coils, which have a risk of distal migrating and causing non-targeted embolization, these devices can be repositioned and their release can be controlled. Thus, the globally increasing number of patients undergoing vascular embolization procedures, combined with the multiple uses of these plugs and the associated benefits of the device over coils, positively impacts demand and, as a result, supports the vascular embolization market growth during the forecast period.

Growing Importance of Embolization in Atherosclerotic Vascular Disease

The growing prevalence of vascular diseases, technological advancements in embolization products and procedures, increased R&D activities, and boosting demand for minimally invasive procedures are the primary driving forces in the vascular embolization market. According to the World Health Organization's 2020 updates, ischemic heart disease accounts for 16.5% of all deaths worldwide each year. Additionally, the World Health Organization estimates that 18 million people die each year as a result of cardiovascular diseases worldwide. This accounts for 35.1% of all deaths worldwide. Heart attacks and stroke account for 85.2% of these cardiovascular disease deaths. According to an article published in the Cureus Journal of Medical Science in July 2020, ischemic heart disease (IHD) is a leading cause of death worldwide. Ischemic heart disease affects approximately 126.1 million people (1,655 per 100,000), or approximately 1.73% of the world's population. The global prevalence of ischemic heart disease is expected to exceed 1,846 per 100,000 by 2030, owing to cardiovascular diseases such as coronary heart disease, rheumatic heart disease, cerebrovascular disease, and other heart conditions. It is one of the leading causes of death worldwide.

When compared to traditional surgeries, the numerous benefits of minimally invasive surgeries, such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and faster recovery time, are encouraging an increasing number of patients to choose minimally invasive balloon angioplasty surgeries. According to the American College of Cardiology, approximately 1.2 million angioplasties will be performed in the United States in 2020. Furthermore, hospitals are expected to attract a large patient population due to their greater accessibility and affordability when compared to specialty clinics. In addition, a few key players in the vascular embolization market are developing and launching novel products and technologies to compete with existing products, while others are acquiring and partnering with other market leaders. For example, Merit Medical Systems Inc.'s EmboCube and Torpedo devices were FDA-indicated in February 2020 for embolization of blood vessels to occlude blood flow, thereby aiding in the control of bleeding and hemorrhaging in the peripheral vasculature. As a result of the aforementioned factors, the studied segment is expected to boost during the forecast period.

High cost of embolization procedures and lack of reimbursement hamper the market

The cost-effectiveness of vascular plugs in comparison to embolic coils gives these devices an added advantage in peripheral vascularization procedures. However, the cost of the device, as well as the associated procedural costs, is one of the impediments to the widespread adoption of these devices, particularly in developing countries. According to a Boston Scientific Corporation report, the hospital outpatient procedure for venous and arterial embolization costs around USD 10,045 in the United States. It was also discovered that the initial hospitalization for embolization does not serve as a permanent solution to the costly and debilitating procedure. Thus, during the forecast period, the high cost of vascular embolization procedures, combined with a lack of favorable reimbursement policies in developing countries, is expected to limit the adoption of these plugs. However, the high cost of the procedures, stringent regulations, and complications associated with these procedures are expected to stymie the vascular embolization market's growth.

Vascular Embolization Market Opportunity

Bolstering applications of vascular embolization devices

The growing preference for minimally invasive procedures is expected to create significant growth opportunities for vascular embolization market participants. According to the American College of Cardiology, approximately 1.2 million angioplasties will be performed in the United States in 2020. Furthermore, hospitals' high accessibility and affordability, when compared to specialty clinics, are expected to attract a large patient population. The increased demand for novel treatments is expected to provide lucrative growth opportunities for vascular embolization market participants. Terumo Corporation, for example, launched WEB Embolization System, an intravascular aneurysm treatment device, in Japan in December 2020 to provide novel treatment options for brain aneurysm cases that were difficult to treat with currently approved methods. In Japan, it is the first intravascular flow disruptor device of its kind.
Vascular Embolization Market Segment Analysis:
Based on Type, the Non-coiling Devices segment is expected to hold a significant market share in the vascular embolization market. The growing burden of chronic diseases, as well as an growing target patient pool, are expected to boost the segment's growth. According to the World Health Organization report 2020, the mortality rate has been increasing over the last 20 years due to an increase in the number of chronic diseases, with heart disease being the leading cause of death worldwide. The number of deaths from heart disease has increased by nearly 2.1 million since 2000, reaching nearly 9.5 million in 2019. Heart disease now accounts for 16.1% of all deaths in the United States. This suggests that there may be a market for vascular embolization. The market studied is expected to grow in the future due to the increasing burden of various types of chronic disorders. Furthermore, market participants are focusing on the introduction of new products into the market. Shape Memory Medical, for example, received approval from Japan's Pharmaceutical and Medical Devices Agency for the IMPEDE-FX Embolization Plug in March 2021. Impede embolization plugs are used to obstruct or slow blood flow in the peripheral vasculature. As a result of these factors, the non-coiling devices segment is expected to grow rapidly during the forecast period.

Based on the Application, the Neurology segment dominated the market with a 45% share in the vascular embolization market. With the prevalence of cerebral aneurysms in all age groups, but especially in those over the age of 35, there is a high demand for neurovascular embolization devices; this demand, in turn, is significantly boosting the growth of the Neurovascular Embolization Devices Market. The neurological disorders and loss of cognitive functions associated with intracranial aneurysms are driving up demand for neurovascular embolization devices. The rising mortality rate caused by this disease is propelling the market forward. The government and various non-profit organisations have made significant contributions to the market's growth by raising awareness and investing in neurological disorders. However, the cost of the devices is prohibitively expensive for patients from underdeveloped and developing countries. This factor may limit the Neurovascular Embolization Devices Market's growth.
Vascular Embolization Market Regional Insights:
North America is expected to hold a significant market share in the global vascular embolization market. Because of the increasing prevalence of cancer and vascular-related diseases, as well as increased research and development activities. According to estimates from the American Cancer Society, there will be approximately 89,500 cancer cases diagnosed and approximately 9,270 cancer deaths among adolescents and young adults (AYAs) aged 15 to 39 years in the United States in 2020. Embolization is one of the most widely used cancer treatment modalities in patients with a wide range of clinical scenarios. It is performed in order to cause ischemia within the tumor, which results in tumor necrosis. The addition of a chemotherapeutic agent to the embolic material may enhance this effect even more. As a result, the growing cancer burden is fueling the growth of embolization procedures in this region. Another major disorder that has afflicted the American population is brain aneurysm.

According to the Brain Aneurysm Foundation's 2019 statistics, an estimated 6.5 million people in the United States have an unruptured brain aneurysm, with a rupture rate of 8-10 per 100,000 people. Coil embolization is one of the most common minimally invasive procedures used to treat a brain aneurysm in a patient by filling the sac with material that closes the sac and reduces the risk of bleeding. As a result, the growing disease burden in the country is expected to drive demand for vascular embolization.

Furthermore, the North American region is ahead of other regions in terms of technology and R&D activities, which is expected to benefit the vascular embolization market. For example, Instylla Inc. announced in March 2021 that the first patients had been enrolled in the pivotal Embrace Hydrogel Embolic System (HES) global randomized clinical trial for the treatment of hypervascular tumors. As a result of the aforementioned factors, the studied market in North America is expected to grow significantly over the forecast period.
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Vascular Embolization Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 4.2 Bn.


Forecast Period 2022 to 2029 CAGR:
8%
Market Size in 2029:
US $ 7.8 Bn.


 Segments Covered:
by Embolization Technique
• Non-coiling Devices
• Coiling Devices


by Application
• Neurology
• Peripheral Vascular Disease
• Oncology
• Urology
• Other



Vascular Embolization Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Vascular Embolization Market Key Players are:
• Medtronic PLC
• Cook Medical
• Stryker Corporation
• Boston Scientific Corporation
• Abbott Laboratories
• Johnson and Johnson (CERENOVUS)
• Merit Medical Systems Inc.
• Penumbra Inc
• Terumo Corp
• Shape Memory Medical Inc.
• B. Braun Melsungen AG
• W. L. Gore & Associates Inc.
• Microport Scientific Corporation
• Microvention Inc
• Codman Neuro

Frequently Asked Questions:

1] What segments are covered in the Global Vascular Embolization Market report?
Ans. The segments covered in the Vascular Embolization Market report are based on Embolization Technique and Application.

2] Which region is expected to hold the highest share in the Global Vascular Embolization Market?
Ans. The North America region is expected to hold the highest share in the Vascular Embolization Market.

3] What is the market size of the Global Vascular Embolization Market by 2029?
Ans. The market size of the Vascular Embolization Market by 2029 is expected to reach US$ 7.8 Bn.

4] What is the forecast period for the Global Vascular Embolization Market?
Ans. The forecast period for the Vascular Embolization Market is 2021-2029.

5] What was the market size of the Global Vascular Embolization Market in 2021?
Ans. The market size of the Vascular Embolization Market in 2021 was valued at US$ 4.2 Bn.