Vascular embolization products include guidewires, catheters, microcatheters, occlusion balloons, coils, liquid embolics, and plugs used in minimally invasive procedures to occlude blood vessels with abnormal vascularity. These procedures are widely adopted to treat hepatic and uterine fibroid tumors, arteriovenous malformations, and aneurysms.
The global Vascular Embolization Market is estimated to be valued at US$ 2084.49 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing preference for minimally invasive procedures
The key trend propelling the growth of the vascular embolization market is the growing preference for minimally invasive procedures over traditional open surgeries. Minimally invasive procedures are associated with reduced post-procedure complications, shorter hospital stays, and quicker recovery times. With technological advancements, new procedural methods and devices have been introduced that have simplified complex endovascular procedures and expanded treatment opportunities. Procedures such as uterine artery embolization are being increasingly adopted for the treatment of fibrotic tumors as they prevent surgical trauma and scarring. Rising awareness about these benefits among patients and healthcare providers is contributing to the higher utilization of vascular embolization products.
SWOT Analysis
Strength: The vascular embolization market has witnessed significant technological advancements in recent years such as the development of new embolic agents and techniques which have improved treatment outcomes.
Weakness: High costs associated with vascular embolization procedures limit widespread adoption. Lack of expertise and skilled healthcare professionals pose challenges.
Opportunity: Rising geriatric population suffering from vascular diseases presents sizable growth prospects. Untapped emerging markets in Asia Pacific and Latin America offer ample room for expansion.
Threats: Stiff competition from alternative treatments such as drug eluting stents can impede market growth. Stringent regulatory frameworks also restrict market growth to some extent.
Key Takeaways
The Global Vascular Embolization Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Vascular Embolization Market is estimated to be valued at US$ 2084.49 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
The North America region currently dominates the market buoyed by substantial research funding, advanced healthcare infrastructure and presence of leading market players. However Asia Pacific is expected to record the highest CAGR over the forecast period backed by increasing healthcare spending, high unmet needs and improving access to quality care across developing nations.
Key players operating in the vascular embolization market are Boston Scientific Corporation, Medtronic plc, St. Jude Medical, Terumo Corporation and Cook Medical. These companies collectively account for a sizable revenue share owing to their diversified product portfolios and strong global footprints. They are focusing on geographical expansion and investments in R&D to solidify their market position.
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