VASCULAR EMBOLIZATION MARKET ANALYSIS

Market Challenges And Opportunities

• Complications associated with embolization procedures
• High costs associated with embolization procedures

Market Drivers:

• Increasing prevalence of vascular diseases across the globe is expected to propel the growth of the global vascular embolization market during the forecast period. Vascular disease is any condition that affects the network of blood vessels. They are common and can be serious. For instance, according to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. This represents 35% of global deaths.
• Advancements in embolization products and procedures is expected to augment the growth of the global vascular embolization market over the forecast period. For instance, in July 2021, Terumo Medical Corporation announced the launch of its AZUR Vascular Plug, the first and only plug compatible with a micro-catheter to occlude arteries up to 8mm in diameter. The new addition to Terumo's robust embolization portfolio is indicated for use to reduce or block the rate of blood flow in arteries of the peripheral vasculature.

Market Restraints:

• Complications associated with embolization procedures is expected to hinder growth of the global vascular embolization market. There is always a chance that an embolic agent can lodge in the wrong place and deprive normal tissue of its oxygen supply. There is a risk of infection after embolization, even if an antibiotic has been given. In patients with liver cancer that are treated using embolism develops, fever, pain in the right hypochondrium (region of abdomen), and a rise in transaminases as complications.
• High cost of embolization procedures is expected to hamper the growth of the global vascular embolization market. Although the procedure has numerous benefits, it is expensive, especially for the needful patients in developed/developing countries. The prevalence of vascular diseases is increasing globally. However, due to the higher costs of procedures, access to these facilities is prohibited in developing and underdeveloped countries.

Market Opportunities:

• Increasing preference for minimally invasive procedures is expected to provide significant growth opportunities for players in the market. For instance, according to the American College of Cardiology, in 2020, around 1.2 million angioplasties were performed in a year in the United States. Moreover, the high accessibility and affordability of hospitals, compared to the specialty clinics, are expected to attract a large patient population.
• Increase in demand for novel treatments is expected to offer lucrative growth opportunities for players in the market. For instance, in December 2020, Terumo Corporation launched WEB Embolization System, an intrasaccular aneurysm treatment device, in Japan to provide novel treatment options for brain aneurysm cases that were difficult to treat with currently approved methods. It is a first-of-its-kind intrasaccular flow disruptor device available in Japan.