Vascular Embolization Market To Be Valued at US$ 2,851.5 Mn with a CAGR of 9.5% By 2028 | Abbott Laboratories, Stryker Corporation
Vascular Embolization Market
The transit and lodging of an embolus within the circulation is referred to as vascular embolization. Vascular embolization agents are used to mechanically occlude blood vessels or other vascular areas to abruptly cease flow. Vascular embolization agents are substances and fluids that can be injected into the circulation through a catheter to either temporarily or permanently mechanically or physiologically occlude the target artery. It is a typical and efficient interventional radiology treatment. Embolization is a minimally invasive procedure that closes off one or more vascular abnormalities, such as blood vessels. Embolization enables blood vessel blockage without requiring invasive surgery. It serves as a substitute for open surgery.
According to estimates, the global market for vascular embolization is worth US$1,651.9 million.
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The global market for vascular embolization is anticipated to rise as vascular illnesses become more commonplace. For instance, ischemic heart disease is one of the main causes of mortality globally, according to a study that was published in July 2020 in Cureus Journal of Medical Science. Around 1.72% of the world’s population, or over 126 million individuals (1,655 per 100,000), are afflicted by ischemic heart disease. By 2030, it is anticipated that there would be more than 1,845 cases of ischemic heart disease per 100,000 people worldwide. As a result, there is a rising need for vascular embolization devices due to the incidence of vascular disorders.
The global vascular embolization market is predicted to provide participants with significant development prospects due to the rising demand for vascular embolization devices. For instance, after receiving permission from the Food and Drug Administration, Stryker introduced the Surpass Evolve Flow Diverter in August 2020. (FDA). This is a 64-wire flow diverter made of cobalt and chromium for the first time created in the United States with the goal of rerouting blood flow and accelerating aneurysm repair. It is Stryker’s most recent flow diversion invention and follows the introduction of Surpass Streamline. Surpass Evolve’s increased mesh density should help patients experience quicker aneurysm closure.
Stringent regulatory requirements, high cost of embolization operations, and problems related to embolization procedures are some of the key factors predicted to restrain the growth of the worldwide vascular embolization market. Vascular disorders are becoming more commonplace on a global scale. However, access to these facilities is restricted in poor and disadvantaged nations due to the greater prices of treatments. Authorities often conduct rigorous regulatory evaluations of high-risk technologies, such vascular embolization devices, to identify any possible dangers associated with the devices and to protect patient safety.
The COVID-19 outbreak has had a considerable negative influence on the expansion of the vascular embolization industry, since hospitals and healthcare services for non-COVID reasons were drastically decreased as a result of widespread lockdowns (enforced to curb the spread of the virus). Vascular embolization is safe during the pandemic, nonetheless, according to several research papers, provided it is carried out with the utmost prudence. This is anticipated to have a favourable effect on the vascular embolization market’s expansion during the pandemic.
The market for vascular embolization was valued at US$ 1,509.1 Mn in 2021 and is expected to expand at a Cagr of 9.5% between 2022 and 2028 attending US$ 2,851.5 Mn.
Non-coiling devices had a prominent position in the worldwide vascular embolization market in 2021, accounting for 67.8% of the market’s value share. Increasing product approval and the introduction of new products are anticipated to fuel the segment’s expansion over the forecast period.
The worldwide market for vascular embolization is predicted to expand faster due to frequent approvals and launches of innovative products. For instance, following the CE mark’s clearance in March 2019, Stryker announced the availability of the Surpass Evolve Flow Diverter in April 2019. Stryker’s newest product, Surpass Evolve, is a flow diversion device used to treat brain aneurysms.
The launch of innovative products by industry participants is anticipated to accelerate market growth for vascular embolization. For instance, Guerbet LLC USA announced the release of innovative micro-catheters, such as SeQure and DraKon, in May 2018 for use in operations to embolize tumours and vascular aneurysms. At the Global Embolization Symposium and Technologies (GEST) 2018 U.S., held in Miami from May 17–20, the business debuted micro-catheters.
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Boston Scientific Corporation, Shape Memory Medical Inc., Johnson and Johnson (Cerenovus), Terumo Corp, Merit Medical Systems Inc., Penumbra Inc., Medtronic PLC, Abbott Laboratories, Cook Medical, and Stryker Corporation, are a few of the major companies active in the global vascular embolization market.
Boston Scientific and Farapulse Inc., which specialises in developing Pulse Field Ablation (PFA) systems for atrial fibrillation, entered into an investment agreement in September 2020.
The Atlas stent system, which is used in conjunction with metal coils to pack aneurysms at the back of the brain, has obtained extended indication approval from the U.S. Food and Drug Administration (FDA), according to a statement released by Stryker in August 2020.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Vascular Embolization Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Vascular Embolization Industry Impact
Chapter 2 Global Vascular Embolization Competition by Types, Applications, and Top Regions and Countries
2.1 Global Vascular Embolization (Volume and Value) by Type
2.3 Global Vascular Embolization (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Vascular Embolization Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Vascular Embolization Market Analysis
Chapter 6 East Asia Vascular Embolization Market Analysis
Chapter 7 Europe Vascular Embolization Market Analysis
Chapter 8 South Asia Vascular Embolization Market Analysis
Chapter 9 Southeast Asia Vascular Embolization Market Analysis
Chapter 10 Middle East Vascular Embolization Market Analysis
Chapter 11 Africa Vascular Embolization Market Analysis
Chapter 12 Oceania Vascular Embolization Market Analysis
Chapter 13 South America Vascular Embolization Market Analysis
Chapter 14 Company Profiles and Key Figures in Vascular Embolization Business
Chapter 15 Global Vascular Embolization Market Forecast (2022-2028)
Chapter 16 Conclusions
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