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Vascular Embolization Devices Market Overview 2024
Vascular Embolization Devices Market Overview
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According to The Business Research Company's, The vascular embolization market size has grown strongly in recent years. It will grow from $2.89 billion in 2023 to $3.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to rising prevalence of vascular diseases, rise in demand for non-coiling devices, surge in the use of clot agents, increased awareness about advanced treatment options.
The vascular embolization market size is expected to see strong growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to growth in the cases of chronic diseases, rising investments in r&d activities, growing preference for minimally invasive procedures, geographic expansion and access to healthcare, rising disposable incomes. Major trends in the forecast period include technological advancements, strategic collaborations, strategic collaborations, development of innovative vascular embolization devices.
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Market Drivers and Trends:
The increasing prevalence of vascular diseases is expected to propel the growth of the vascular embolization market going forward. Vascular disease refers to a group of disorders that affect the blood vessels, including the arteries and veins, decrease blood flow, and lead to a variety of conditions such as peripheral vascular disease, abdominal aortic aneurysm, deep vein thrombosis, atherosclerosis, chronic venous insufficiency, peripheral artery diseases, and others. Vascular embolization is used for treating vascular disorders that involve occluding or obstructing blood vessels to stop bleeding, repair aneurysms, and improve blood supply in veins. For instance, in April 2023, according to HMP Communications LLC, a US-based patient-centered education resource, the global prevalence of peripheral artery diseases (PAD) reached 21 million in 2020, estimated to reach 23.8 million by 2030. Therefore, the increasing prevalence of vascular diseases is driving the growth of the vascular embolization market.
Technological advancements are a key trend gaining popularity in the vascular embolization market. Major companies operating in the vascular embolization market are developing new technologies to sustain their position in the market. For instance, in June 2022, India Medtronic Private Limited, a subsidy of Medtronic plc, a US-based medical device company, introduced Pipeline Vantage, a flex embolization device to treat brain aneurysms. Pipeline Vantage with shield technology is a revolutionary flow diverter with improved delivery design characteristics. These device characteristics make it easier and more reliable for clinicians to transport, deploy, and treat brain aneurysms and intracranial aneurysms while also providing a scaffold that encourages cell proliferation in the inner lining of the target blood vessel.
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Major Key Players of the Market:
Johnson and Johnson Co, Abbott Laboratories, Medtronic Plc., Merck Group, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Kaneka Corporation, Terumo Corporation, W. L. Gore & Associates Inc., Teleflex Inc., Cook Group Incorporated, Merit Medical Systems Inc., Penumbra Inc., MicroPort Scientific Corporation, MicroVention Inc., Medikit Co Ltd., Silk Road Medical Inc., Galt Medical Corporation, Neuravi Ltd., Phenox GmbH, Spartan Micro Inc., EndoShape Inc., Shape Memory Medical Inc., Balt Group, Vascular Solutions Inc.
Vascular Embolization Market 2024 Key Insights:
• The vascular embolization market size is expected to see strong growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Vascular Disease Surge Fuels Anticipated Growth In The Vascular Embolization Market
• Vascular Embolization Market Witnesses Growth With Technology Advancements
• North America was the largest region in the vascular embolization market in 2023
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Braun Melsungen AG
Boston Scientific Corporation
R. Brad, Inc.
Cardinal Health, Inc.
Medtronic plc.
Cook Medical, Inc.
Teruma Corporation
Jude Medical, Inc.
The Spectranetics Corporation
Volcano Corporation
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