Vascular embolization is a minimally invasive medical procedure used to occlude or block blood vessels to prevent or treat pathological conditions. The procedure involves injecting embolic agents such as gelfoam, coils and liquid embolic agents into blood vessels through a thin tube or catheter inserted into the blood vessel. This blocks the flow of blood to certain parts of the body. Embolization offers various advantages over traditional open surgeries such as less pain, scarring, recovery time and risk of complications. It is widely used to treat uterine fibroids, prevent bleeding during surgical procedures, treat tumors, 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.
The rising preference for minimally invasive surgical procedures has propelled the demand for various embolization products and devices globally. Minimally invasive procedures are associated with reduced procedural pain, scarring, recovery time and risk of complications. Embolization offers distinct advantages such as target vessel occlusion, blocking blood supply to tumors or organs, and reduced complications. Moreover, it is emerging as the first line therapy for various conditions and disorders which were traditionally treated via open surgeries. Rapid technological advancements have enabled the development of advanced embolization devices and materials with improved safety and efficacy profiles. This is encouraging higher adoption rates among medical professionals as well as patients.
Market key trends:
The rising adoption of liquid embolic agents is one of the major trends witnessed in the global vascular embolization market. Liquid embolic agents allow for precise occlusion with uniform distribution and better penetration into complex vascular networks. Their liquid form enables intratumoral injection with fine needles and catheters even for deep seated lesions. Some commonly used liquid embolic agents are ethylene–vinyl alcohol copolymer (Onyx), butyl cyanoacrylate, and alcohols. The emergence of non-vascular embolization applications such as transcatheter arterial chemoembolization (TACE) and radioembolization using liquid embolics is augmenting their consumption. Their ability to occlude larger and complex vascular structures with accuracy makes them a desirable choice.
Porter's Analysis
Threat of new entrants: The vascular embolization market has moderate threat of new entrants due to high R&D cost involved in developing new embolization devices. However, growing demand and wide scope of application provides opportunities.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and standard product offerings in the market.
Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to concentration of few players controlling majority of market share and dependency of buyers on suppliers for quality products.
Threat of new substitutes: Threat from substitutes is moderate as new treatment methods can be developed but embolization has established itself as safe and effective minimally invasive treatment option.
Competitive rivalry: The market is consolidated with few global players dominating the market. However, regional players capture significant share through focus on niche areas, innovative product launches and service offerings.
Key Takeaways
The Global Vascular Embolization Market Size is expected to witness high growth over the forecast period. 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.
Regional analysis: North America dominated the global market and is expected to maintain its lead over the forecast period due to availability of advanced healthcare facilities, developed infrastructure and patient awareness levels regarding embolization treatments. Asia Pacific shows fastest growth potential driven by growing investment in healthcare sectors and shift towards minimally invasive surgeries.
Key players: Key players operating in the vascular embolization market are Boston Scientific Corp, Terumo Corporation, Medtronic plc, Stryker Corporation, Abbott Laboratories. Key players are focused on developing innovative products and expanding presence across emerging markets through acquisitions and partnerships to gain competitive edge.
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