Market Highlights
The Vascular Embolization Market Size was valued at USD 1.7 Billion in 2022 and is projected to grow from USD 1.9 Billion in 2023 to USD 4.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.90% during the forecast period (2023 - 2032).
One area of the medical business that is expanding quickly is the vascular embolization market. In order to treat a variety of illnesses, including tumors, aneurysms, and uterine fibroids, it entails the use of minimally invasive techniques and tools to block or occlude blood arteries. Technology developments and rising desire for less invasive treatments are what are driving the market.
The Vascular Embolization market is experiencing remarkable growth as medical technology continues to advance. Vascular embolization is a minimally invasive procedure that plays a vital role in treating various medical conditions, including aneurysms, tumors, and vascular malformations. This technique involves blocking or reducing blood flow to specific areas within the body using embolic agents, such as coils, particles, or liquid agents.
The market's growth is driven by several factors, including the rising prevalence of vascular diseases, the increasing adoption of minimally invasive procedures, and a growing aging population. As the demand for more effective and less invasive treatments continues to rise, the Vascular Embolization market is poised for further expansion. Additionally, ongoing research and development efforts are likely to introduce innovative embolization materials and techniques, further enhancing patient outcomes and market growth. In conclusion, the Vascular Embolization market is set to thrive in the coming years, offering hope and improved treatment options for patients worldwide.
Segment Analysis
The global vascular embolization market has been segmented based embolization technique and application.
On the basis of embolization technique, the market is segmented into coiling devices and non-coiling devices. Non-coiling devices segment dominated the global market in 2022. The category is expected to increase due to a number of variables, such as the growing number of target patients and the burden of chronic diseases.
Based on application, the global vascular embolization market has been segmented into peripheral vascular disease, oncology, neurology, urology, and other. Neurology segment dominated the global Vascular Embolization market in 2022. An increase in brain aneurysms is to blame for this.
Regional Analysis
The global vascular embolization market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Vascular Embolization market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Vascular Embolization market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Vascular Embolization market comprises of Middle East, Africa, and Latin America.
The North America Vascular Embolization Market dominated this market in 2022 (45.80%). This is a result of growing research and development efforts as well as the rising frequency of vascular and cancer-related disorders in this region. According to the American Cancer Society, there will be around 89,500 newly diagnosed cases of cancer among adolescents and young adults (AYAs) between the ages of 15 and 39, and there will be about 9,270 cancer fatalities nationwide in 2020. Embolization is one of the most often used cancer therapeutic choices for patients with a variety of clinical conditions. The intention is to induce tumor ischemia, which will result in tumor necrosis.
Moreover, In 2022, the Europe Vascular Embolization market held a sizable market share. This is a result of the expansion of research and development efforts in this field as well as the increased frequency of vascular and cancer-related disorders.
Additionally, From 2023 to 2032, the Asia Pacific Vascular Embolization market is anticipated to have rapid growth. This is a result of the area's expanding population, modified lifestyles, and greater awareness of vascular embolization.
Furthermore, the rest of the world's Vascular Embolization market is divided into the Middle East, Africa, and Latin America. The market for vascular embolization in Latin America is steadily expanding as a result of factors such increased elderly populations, rising cardiovascular disease prevalence, and improved healthcare infrastructure. The market is propelled by the uptake of cutting-edge
medical technology, rising public awareness of minimally invasive procedures, and rising healthcare investment.
Key Findings of the Study
- The Asia-Pacific region accounted for the fastest-growing global market. The region's expanding population, modified lifestyles, and greater awareness of vascular embolization are the causes of this.
- Based on application, the neurology segment was attributed to holding the largest market in 2022.
Key Players:
Shape Memory Medical Inc., Terumo Corp, Abbott Laboratories, Stryker Corporation, Cook Medical, Medtronic PLC, Merit Medical Systems Inc., Penumbra Inc., Johnson and Johnson (Cerenovus), and Boston Scientific Corporation
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