Vascular Embolization Devices Market by Product and Geography - Forecast and Analysis 2020-2024
Global Vascular Embolization Devices Market: About this market
Technavio’s vascular embolization devices market analysis considers sales from both coiling and non-coiling devices. Our study also finds the sales of vascular embolization devices in Asia, Europe, North America, and ROW. In 2019, the coiling segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing prevalence of cancer and vascular diseases will play a significant role in the coiling segment to maintain its market position. Also, our global vascular embolization devices market report looks at factors such as increasing prevalence of vascular diseases, rising number of new product launches, and growing number of M&A activities. However, high costs associated with embolization procedures, frequent product recalls, and stringent regulations and complications associated with embolization procedures may hamper the growth of the vascular embolization devices industry over the forecast period.
Global Vascular Embolization Devices Market: Overview
Rising number of new product launches
Healthcare equipment manufacturers are exploring the potential opportunities to convert the increased demand for medical devices into a continuous cycle of innovation and improvisation for enhanced products. Vendors in the market are launching an array of new product lines to offer better options to buyers. In addition, key players in the market are developing new coils with various technological innovations. Thus, increasing product launches coupled with rising technological innovations in the device designing process will lead to the expansion of the global vascular embolization devices market at a CAGR of almost 6% during the forecast period.
Innovations in embolization products and procedures
Technological advancements and innovations in embolization devices have increased their adoption in the treatment of chronic conditions such as cancer and neurovascular diseases. Innovations in vascular embolization devices, including coils, particles, plugs, and liquid embolic, have enables physicians to perform embolization procedures with more ease and accuracy, which has driven the demand for vascular embolization devices. The embolic agents, developed by scientists at the University of Minnesota, are made of organic materials, which degrade at a controlled rate and are reabsorbed by the body. Another innovative advancement noted in the market is microvascular plugs, which can be used in microcatheters. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global vascular embolization devices market during the forecast period 2020-2024, click here.
With the presence of several major players, the global vascular embolization devices market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading vascular embolization devices manufacturers, that include Abbott Laboratories, Boston Scientific Corp., Cook Group, Johnson & Johnson Services Inc., Medtronic Plc, Merit Medical Systems Inc., Penumbra Inc., Shape Memory Medical Inc., Stryker Corp., and Terumo Corp.
Also, the vascular embolization devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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