July 21, 2024
Vascular Embolization Market

The Vascular Embolization Market Is Driven By Growing Adoption Of Minimally Invasive Procedures

The global Vascular Embolization Market is witnessing a growing demand due to increasing adoption of minimally invasive procedures for the treatment of cardiovascular diseases and cancer. Vascular embolization is a popular procedure that involves blocking blood vessels using embolic agents such as microspheres, coils, and liquid embolics throughcatheters inserted in blood vessels. It is widely used to treat various medical conditions such as uterine fibroids, kidney cancer, and brain aneurysms. The procedure allows effective blocking of blood flow to tumors or aneurysms for better treatment outcomes without open surgery. It also reduces procedure related risks, recovery time, hospital stay, and cost of treatment compared to conventional open surgery methods.

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.

Market key trends

One of the key trends in the Vascular Embolization Market is the growing adoption of expandable embolization coils. Expandable coils are thin platinum wires that can be inserted through catheters into arteries or veins. Once inserted at the target location, these coils expand to fill the aneurysm sac or block blood vessels. Expandable coils offer advantages such as higher packing densities to effectively occlude spaces, lower recanalization rates, and better clinical outcomes. Major players are focusing on developing advanced expandable coils with competitive advantages. For instance, Medtronic launched its line of Axium coils in 2013 that come in various shapes and sizes to suit different vessel anatomies. Stryker also offers a wide range of complex shaped expandable coil systems for neurological and peripheral embolization procedures.

Porter’s Analysis

Threat of new entrants: The vascular embolization market requires high R&D investments for product development and obtaining regulatory approvals. These barriers reduce the threat of new entrants.

Bargaining power of buyers: The presence of several vendors provides buyers with varied options. However, switching costs and need for fast treatment increases their dependence on vendors.

Bargaining power of suppliers: Key components such as embolic agents are specialized, increasing supplier power. However, the presence of alternative suppliers balances this power.

Threat of new substitutes: Though alternatives exist, embolization provides targeted treatment with minimal invasion. New substitutes are less likely to replace it.

Competitive rivalry: Being a specialized segment, vendors compete on technology and service differentiation.

Key Takeaways

The Global Vascular Embolization Market Demand is expected to witness high growth during the forecast period. 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

North America dominates the market currently due to developed healthcare infrastructure and increasing demand for minimal-invasive treatments. Asia Pacific is expected to grow at the fastest pace owing to large patient pools, improving access to healthcare, and increasing healthcare spending.

Key players:

Key players operating in the vascular embolization market are DyCare, Costaisa, Meditouch, Signo Motus srl, MEYTEC GmbH Informationssysteme, and Raccoon Technologies Poland LLC. DyCare and Costaisa hold a major share due to their diverse product portfolio and global presence. Meditouch focuses on developing advanced embolic agents.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it