Vascular Embolization Market Research, 2031
The global vascular embolization market was valued at $3.7 billion in 2021, and is projected to reach $7.8 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031. Embolization is a minimally invasive procedure that restricts blood flow in particular areas. The technique is carried out while maintaining normal blood flow in the vicinity to protect tissues and control troublesome bleeding. An embolism occurs when a blood vessel becomes blocked, while an embolization surgery is when a blood vessel is purposely obstructed for medical purposes. An alarming rise in the prevalence of oncology, neurology, urology and gastro intestinal diseases is a primary factor fueling the growth of the global market for vascular embolization. The market for vascular embolization is expanding quickly due to advances in embolization procedures and products used to treat vascular disease.
The main drivers driving the global vascular embolization market are technological developments in embolization products and procedures, rise in R&D activities, and surge in desire for minimally invasive procedures. In recent times, the patients are shifting their preference toward minimal-invasive procedures for various diseases. In addition, it is safer than traditional open surgeries as it provides faster recovery. Furthermore, vascular embolization is a minimal invasive procedure used for blocking blood supply to abnormal tissue mass. Thus, shift of patient’s preference toward minimum-invasive vascular embolization propels the growth of the market. The demand for minimally invasive procedures is expected to rise, opening vascular embolization market opportunity.
In addition, it is projected that other technological advancements in this area, as well as the enhanced success rate of embolization plugs in non-invasive procedures for vascular occlusion, is projected to propel the growth of the market. The high cost of vascular embolization and its associated complications, however, restrain expansion of the market Furthermore, as cases of liver cancer and hepatocellular carcinoma rise will surge the embolotherapy procedures. Untapped potential in emerging economies along with developing healthcare infrastructure is expected to boost the market growth during the forecast period, thus creating opportunities. Moreover, the healthcare industry in emerging economies is developing at a significant rate, due to augmentation in demand for sophisticated healthcare services, significant investments by governments of various countries to improve healthcare infrastructure, and development of the medical tourism industry in emerging countries. Thus, all these factors are projected to create potential growth opportunities for the market.
Impact of COVID-19 on the Market
Nearly all industries have been impacted by the global public health epidemic COVID-19. As coronavirus crises sweep the globe and force healthcare organizations to devote the majority of their funds to fighting COVID-19. The outbreak of COVID-19 has resulted in a significant upsurge. The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global vascular embolization market. The COVID-19 pandemic has stressed healthcare systems of the world. A huge number of clinics, hospitals across the globe, were restructured to increase the hospital capacity for the patients diagnosed with COVID-19. All non-emergency surgeries were postponed during the pandemic. However, this is expected to be a temporary downfall, and the market is expected to resume vascular embolization market growth in the future.
Vascular Embolization Market Segmentation
The vascular embolization market is segmented into product, application, and end-users. By product, the market is categorized into embolic agents and embolization devices. Embolic agents and embolic devices are further sub categorized into liquid embolic agents and microspheres. And embolization devices are classified into coils, detachable balloons, embolic plugs, and support devices. On the basis of application, thevascular embolization industry is segregated into oncology, peripheral vascular diseases, urology and nephrology, neurology and others. On the basis of end user, the market is segmented into hospitals & clinics, ambulatory surgical centers and others. By region market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA)
By Product Segment Review
On the basis of product, the embolic agents segment dominated the vascular embolization market share and is also expected to is expected to register highest CAGR, owing to wide availability and new product launches & approval of the products.
By Application Segment Review
On the basis of application, the neurology segment dominated the vascular embolization market size in 2021, owing to surge in the brain aneurysm. However, oncology is expected to register highest CAGR from 2022-2031, owing to surge in the incidence of cancer cases.
By End User Segment Review
On the basis of end user, hospital and clinics segment dominated the vascular embolization market size in 2021 and is expected to register highest CAGR of from 2022-2031, owing to surge in the oncology, neurology, nephrology disorders and increasing preference of minimally invasive procedures.
Region Review
Region wise, North America has the highest vascular embolization market share in 2021, and is expected to maintain its lead during the forecast period, owing to rise in preference for minimum invasive procedure and availability of strong healthcare infrastructure in the region. However, Asia-Pacific is expected to register highest vascular embolization market forecast, CAGR from 2022-2031, owing to rising in chronic diseases and surge in healthcare expenditure.
Some of the major companies that operate in vascular embolization industry are Abbott Laboratories., Balt Group, Boston Scientific Corporation, Cook Medical, Johnson and Johnson, Kaneka Corporation, Medtronic Plc, Merit Medical, Stryker Corporation, and Terumo Medical Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vascular embolization market analysis from 2021 to 2031 to identify the prevailing vascular embolization market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the vascular embolization market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global vascular embolization market trends, key players, market segments, application areas, and market growth strategies.
Vascular Embolization Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 7.8 billion |
 Growth Rate | CAGR of 7.7% |
 Forecast period | 2021 - 2031 |
 Report Pages | 282 |
 By Product |
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 By Application |
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 By End User |
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 By Region |
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 Key Market Players | MERIT MEDICAL SYSTEMS, DEPUY SYNTHES (J&J MEDICAL DEVICES), TERUMO CORPORATION, BOSTON SCIENTIFIC CORPORATION, COOK MEDICAL, BALT, STRYKER CORPORATION, ABBOTT LABORATORIES, KANEKA CORPORATION, MEDTRONIC PLC |
Analyst Review
This section provides various opinions of the top-level CXOs in the global vascular embolization market. According to the insights of the CXOs, the global vascular embolization market is expected to exhibit high growth potential attributable to factors such as increase in vascular illness. It is one of the key factors for the growth of the vascular embolization market. Devices for vascular embolization are used to stop bleeding from aneurysms, some tumor forms, and arteriovenous malformations. Vascular embolization devices are also used to treat neurovascular and peripheral vascular illness. Thus, the rise in prevalence of peripheral vascular disease is projected to further increase the demand for vascular embolization devices.
The CXOs further added that North America is expected to hold a major share, in terms of revenue, owing to rise in prevalence of vascular disorders, increase in investment from government and other organizations for enhancing healthcare, and strong presence of key players. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in research and development activities and unmet medical demands during the forecast period
Neurology is the leading application of vascular embolization market.
Preference for minimally invasive surgeries is the upcoming trend of vascular embolization market.
The global vascular embolization market was valued at $3,682.73 million in 2021, and is projected to reach $7,780.98 million by 2031, registering a CAGR of 7.7% from 2022 to 2031.
North America is the largest regional market for vascular embolization.
Abbott Laboratories., Balt Group, Boston Scientific Corporation, Cook Medical, Johnson and Johnson, Kaneka Corporation, Medtronic Plc, Merit Medical, Stryker Corporation, and Terumo Medical Corporation are the top companies to hold the market share in vascular embolization.
2021 is the base year of vascular embolization market.
2022 to 2031 is the forecast period of vascular embolization market.
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