Global Vascular Embolization Market - 2021-2028

Global Vascular Embolization Market - 2021-2028

Market Overview

The global vascular embolization market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).

Vascular Embolization is a procedure in which an embolic agent is injected into the blood vessel to close them and stop the blood flow to a targeted area.

Market Dynamics

The global vascular embolization market growth is driven by the increasing prevalence of vascular diseases, technological advancements in embolization products and procedures, increasing research and development activities, and growing demand for minimally invasive procedures are the key driving factors in the global vascular embolization market.

Increasing prevalence of vascular diseases and technological advancements in embolization products and procedures is expected to drive the growth in the forecast period

According to 2020 updates of the World Health Organization, ischemic heart disease is responsible for 16% of the world’s total deaths annually, owing to cardiovascular diseases that include coronary heart disease, rheumatic heart disease, cerebrovascular disease, and other heart conditions. It is one of the leading causes of death worldwide. Also, a few of the key players are developing and launching novel products and technologies to compete with the existing products, while others are acquiring and partnering with the other companies trending in the market. For instance, in February 2020, EmboCube and Torpedo devices of Merit Medical Systems Inc. were FDA indicated for the embolization of blood vessels to occlude blood flow, and thus aids in the control of bleeding and hemorrhaging in the peripheral vasculature. Thus, owing to the aforementioned factors, the studied segment is expected to grow over the forecast period.

High cost associated with the embolization procedures are likely to hinder the market growth

The high cost associated with the procedures are likely to hinder the growth of the market studied. For instance, according to the National Institute of Health and Care Excellence, the total procedure costs over the 10-year time horizon associated with Pipeline as £24,341. For the comparators, the total procedure costs were £37,451 for stent-assisted coiling, £11,658 for neurosurgical clipping, £16,893 for endovascular parent vessel occlusion, £11,654 for neurosurgical parent vessel occlusion and £10,352 for conservative management.

COVID-19 Impact Analysis

The COVID-19 outbreak impacted the vascular embolization market, as hospitals and healthcare services for non-covid indications were significantly reduced due to social distancing measures enforced globally. However, many research studies have proven that vascular embolization techniques are safe during COVID-19 if performed with utmost care and precautions. According to a research study titled “Bronchial Artery Embolization Performed in COVID-19 Patients: Tolerance and Outcomes”, published in 2020, the results demonstrated that Management of severe hemoptysis (SH) in COVID-19 patients with bronchial artery embolization (BAE) was feasible efficient and concerning the safety guidelines, it is of utmost importance to protect the interventional radiology (IR) staff. Thus, the studied market is expected to be impacted during the COVID-19 pandemic due to the factors above.

Segment Analysis

The non-coiling devices segment is expected to hold the largest share in this market segment

The non-coiling devices include coiling assist devices, catheters, foam and liquid embolic systems, and embolization plugs. Factors such as the growing burden of chronic diseases and the expanding target patient pool are expected to propel the segment’s growth. According to the World Health Organization report 2020, the mortality rate is growing due to chronic diseases; for the past 20 years, heart disease has been the leading cause of death worldwide. Since 2000, heart disease deaths have increased by nearly 2 million, to nearly 9 million in 2019. In the United States, heart disease now accounts for 16% of all deaths. This indicates a potential market demand for vascular embolization. Owing to the rising burden of various types of chronic disorders, the market studied is expected to grow in the future.

In addition, the market players are focusing on launching new products. For instance, in March 2021, Shape Memory Medical received approval from Japan’s Pharmaceutical and Medical Devices Agency for IMPEDE-FX Embolization Plug. Impede embolization plugs are indicated to obstruct or reduce the rate of blood flow in the peripheral vasculature. Thus, owing to these factors, the Non-coiling Devices segment is expected to experience lucrative growth during the forecast period.

Geographical Analysis

North America region holds the largest market share of global vascular embolization market

North America is expected to hold a major market share in the global vascular embolization market due to the increasing prevalence of cancer and vascular-related diseases and increasing research and development activities in this region. According to the American Cancer Society estimates, in 2020, there were approximately 89,500 cancer cases diagnosed and about 9,270 cancer deaths among adolescents and young adults (AYAs) aged between 15 and 39 years in the United States. Embolization is one of the most accepted cancer treatment modalities in patients with a variety of clinical scenarios. It is done to produce ischemia within the tumor, resulting in tumor necrosis; this effect may be further potentiated by adding a chemotherapeutic agent to the embolic material. Hence, the rising burden of cancer is giving growth to the embolization procedures in this region. Brain Aneurysm is another major disorder that has affected the American population. As per 2019 Statistics by the Brain Aneurysm Foundation, an estimated 6.5 million people in the United States have an unruptured brain aneurysm, with an annual rate of rupture of approximately 8-10 per 100,000 people. In a patient with a brain aneurysm, coil embolization is one of the most common minimally-invasive procedures to treat an aneurysm by filling it with material that closes the sac and reduces the risk of bleeding. Hence, the increasing burden of diseases in the country is expected to drive the demand for vascular embolization.

Moreover, the North American region is ahead in technology and R&D activities compared to other regions, which is expected to impact the market positively. For instance, in March 2021, Instylla Inc. reported the enrollment of the first patients in the pivotal Embrace Hydrogel Embolic System (HES) global, a randomized clinical trial for the treatment of hypervascular tumors. Thus, the studied market is expected to witness significant growth in North America over the forecast period due to the factors mentioned above.

Competitive Landscape

The global vascular embolization market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Medtronic Plc, Cook Medical, Stryker Corporation, Boston Scientific Corporation, Abbott Laboratories, Johnson and Johnson (Cerenovus), Merit Medical Systems Inc, Penumbra Inc, Terumo Corporation, and Shape Memory Medical Inc. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market. For instance, in October 2020, Johnson and Johnson launched NIMBUS to remove tough clots and enable revascularization for patients with acute ischaemic stroke in Europe.

Global Vascular Embolization Market – Key Companies to Watch

Stryker Corporation

Overview: Stryker together with their customers, is driven to make healthcare better. Stryker offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. The company's research facilities are situated in the US, France, Germany, Ireland, Puerto Rico and Switzerland, and invested about $625 million in the year 2015 in R&D activities. The company is offering its products in more than 100 countries globally covering majorly three regions such as the Americas, Europe, Middle East Africa (EMEA) and Asia Pacific.

Product Portfolio: It includes Target 3D Detachable Coils, boast an accurate deployment with geometric shape for a stable frame.

Key Developments: In August 2020, Stryker Corporation launched Surpass Evolve flow diverter following approval in the United States which is indicated in brain aneurysms.

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Visualize the composition of the vascular embolization market segmentation by embolization technique, application, and region highlighting the key commercial assets and players.

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Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Vascular Embolization Market – By Embolization Technique

Coiling Devices

Non-Coiling Devices

Global Vascular Embolization Market – By Application

Peripheral Vascular Disease

Oncology

Neurology

Urology

Others

Global Vascular Embolization Market - By Region

North America

Europe

Asia-Pacific

Middle East & Africa

South America