Vascular embolization is a minimally invasive surgical procedure that blocks or reduces blood flow in one or more blood vessels. It is commonly used to treat anomalies such as vascular malformations, uterine fibroids, arterial venous malformations (AVMs), and tumors. Vascular embolization makes use of catheter, guidewire and embolic agents such as coils, spheres, gel foam or liquid agents to block the blood vessels. These procedures provide painless treatment alternatives to conventional open surgeries and help in faster recovery.
The global Vascular Embolization Market is estimated to be valued at Us$ 1809.45 Mn in 2023 and is expected to exhibit a CAGR Of 11% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
The global vascular embolization market is driven by increasing prevalence of cardiovascular diseases and cancer worldwide. Cardiovascular diseases are the leading cause of death across the globe. Embolization procedures are commonly used in the treatment of cerebral arteriovenous malformations (AVMs), brain aneurysms and uterine fibroids. Moreover, growing adoption of minimally invasive surgical procedures over conventional open surgeries and technological advancements in embolization devices and agents are further expected to support market growth over the forecast period.
Market Dynamics:
The vascular embolization market growth is primarily driven by increasing prevalence of cardiovascular diseases. According to World Health Organization (WHO), cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year. Unhealthy diet, physical inactivity, tobacco and alcohol use are major lifestyle risk factors. Embolization procedures effectively cut off blood supply to tumors or abnormal blood vessels, thereby helping in treatment of cerebral arteriovenous malformations (AVMs), brain aneurysms and uterine fibroids. The other driver as explained in the heading is growing adoption of minimally invasive surgical procedures over conventional open surgeries due to benefits such as less pain, faster recovery and improved cosmetic outcomes. Advanced vascular embolization technologies minimize complications associated with open surgeries and increase procedure efficacy. These factors are expected to augment the demand for vascular embolization over the forecast period.
SWOT Analysis
Strength: Vascular embolization is a minimally invasive procedure that reduces recovery time as compared to open surgeries. It offers targeted treatment and allows physicians to reach parts of the body that would be difficult to access otherwise. Moreover, advancements in embolization devices and coils have increased the success rate of procedures.
Weakness: Vascular embolization requires specialized skills and training which is not widely available. Moreover, certain post procedure complications like infection, organ failure etc. can occur. The procedure also involves risks of incomplete blockage of blood vessels or damage to surrounding tissues.
Opportunity: Rising geriatric population suffering from liver cancer, kidney cancer and other conditions boosts the demand for minimally invasive treatments. Growing research into newer embolic agents and 3D imaging guidance also presents an opportunity. In addition, increasing awareness about benefits of vascular embolization over conventional surgeries can drive its uptake.
Threats: Stiff competition from alternative minimally invasive procedures poses a threat. Regulations surrounding new product approval can delay market entry. Economic slowdowns can impact healthcare budgets and adoption of higher-cost procedures like vascular embolization.
Key Takeaways
The Global Vascular Embolization Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global vascular embolization market is estimated to be valued at US$ 1809.45 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Regional analysis indicates North America currently dominates the market owing to developed healthcare infrastructure and rapid adoption of advanced treatment procedures. The Asia Pacific region is expected to grow at the fastest pace due to rising medical tourism, growingPrivate healthcare expenditure in countries like India, China and Indonesia.
Key players operating in the vascular embolization market are DyCare, Costaisa, Meditouch, Signo Motus srl, MEYTEC GmbH Informationssysteme, and Raccoon Technologies Poland LLC. The market is fairly consolidated with few global players dominating. Players adopt strategies like new product launches, mergers and acquisitions to strengthen their market position and expand regional presence. For instance, in 2022 Meditouch acquired NeuroDiagnostic devices to enhance its neurosurgery and vascular product portfolio.
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