The vascular embolization market is estimated to be valued at USD 1,932.9 Mn in 2024 and is projected to expand at a CAGR of 9.5% over the forecast period (2024 – 2031). The increasing prevalence of cardiovascular diseases and cancer is contributing to the growth of the market. Furthermore, advancements in embolization devices and techniques are expanding the applications of vascular embolization procedures.
Market Dynamics:
The growth of the vascular embolization market is driven by the rising geriatric population and increasing preference for minimally invasive procedures over conventional open surgeries. The aging population is more susceptible to various health conditions such as cardiovascular diseases and cancer. This is expected to propel the demand for vascular embolization procedures for effective treatment of these diseases. Additionally, minimally invasive procedures are known to reduce recovery time, hospital stay, and post-procedure complications. This makes vascular embolization a preferred choice over open surgeries. However, the high cost of embolization devices and procedures may hamper the market growth during the forecast period.
Increasing prevalence of cerebrovascular diseases driving demand for vascular embolization procedures
Cerebrovascular diseases such as stroke are one of the leading causes of death and disability globally. As per the World Stroke Organization, over 17 million people suffer a stroke each year. Vascular embolization procedures are increasingly being used to treat conditions such as brain aneurysms that can cause stroke. The rising geriatric population who are at higher risk of cerebrovascular diseases is contributing to the growing number of cases. Healthcare providers are also advocating vascular embolization as a minimally invasive alternative to open surgery for conditions like arteriovenous malformations (AVM). This is positively impacting the adoption of vascular embolization procedures.
Rising burden of liver cancer and portal vein thrombosis expanding opportunities
Liver cancer incidence has been rising globally due to risk factors like obesity, diabetes and hepatitis infections. Vascular embolization plays a vital role in managing complications arising from liver cancer or treating the primary disease itself. Portal vein thrombosis is also a common complication of advanced-stage liver cancer. Embolization helps relieve symptoms by reducing portal venous blood flow. It is being increasingly used pre-liver transplantation as well. With liver cancer projected to continue rising, the need for interventions like vascular embolization procedures will keep increasing.
Lack of skilled interventional radiologists posing a challenge
Vascular embolization is an advanced procedure requiring a high degree of technical skill and experience on the part of the interventional radiologist performing it. However, most countries report severe shortages of trained interventional radiology specialists. This can negatively impact the timely and effective delivery of vascular embolization services. Lack of specialists acts as a constraint for addressing the growing disease burden effectively as well as for market expansion. Training and retaining interventional radiology talent remains a challenge, especially in developing nations.
High infrastructure and equipment costs hampering market growth in low-resource settings
Vascular embolization procedures require a dedicated interventional radiology suite equipped with high-quality digital imaging and guidance systems like CT and fluoroscopy. However, setting up such facilities entails significant investments that may not be feasible or affordable for most healthcare providers in low and middle-income countries. The need for expensive consumables like embolic agents, catheters, coils, etc. per procedure also adds to the costs. This makes vascular embolization unreachably expensive for many patients, restricting market growth potential in underserved regions.
Advancing technologies opening new opportunities
Continuous refinements in embolization devices, equipment and techniques are widening the scope of applications. New bioabsorbable embolic agents are helping overcome limitations of permanently implanting foreign materials. Advanced digital imaging and navigation aids are improving safety and accuracy. Vascular embolization is also being studied for managing conditions previously not considered feasible like uterine fibroids. Expanding research interest in new indications holds promise for market growth.
Growing use of embolization in oncology expected to drive future demand
Vascular embolization is emerging as an adjunct to chemotherapy and radiation therapy for improving cancer treatment outcomes. It helps eliminate blood supply to tumors, enhancing drug delivery and response. Embolization is now established for liver cancer but ongoing studies are evaluating its role in managing other malignancies like renal and lung cancers as well. With the global cancer burden continuing to rise, widespread adoption of embolization as a complementary oncology treatment modality can boost future revenues in this market.
Link - https://www.coherentmarketinsights.com/market-insight/vascular-embolization-market-5150
Key Development
- In January 2023, Fluidx Medical Technology, Inc., a privately-held medical device company, announced the successful outcomes of in-vivo studies involving the IMPASS Embolic Device for middle meningeal artery (MMA) embolizations. These embolizations are instrumental in treating chronic subdural hematomas (CSDH) on the surface of the brain.
- In November 2022, Varian, a company under , a leading medtech company announced the treatment of the first trial participant as part of GENESIS II (Genicular Artery Embolization in Patients with Knee Osteoarthritis). This study focuses on Embozene microspheres for genicular artery embolization (GAE) as a treatment for mild to moderate knee osteoarthritis. GENESIS II represents the largest randomized clinical trial aimed at evaluating pain alleviation for this chronic condition through GAE.
- In August 2022, Boston Scientific Corporation, a renowned medical device company, announced the acquisition of Obsidio, Inc., a privately-held firm known for developing Gel Embolic Material (GEM) technology utilized in embolizing blood vessels in the peripheral vasculature. Recently approved by the U.S. Food and Drug Administration (FDA), GEM technology comprises a semi-solid, patented material packaged in a ready-to-use form, thereby reducing the preparation time necessary for various embolization treatments.
- In April 2021, Medtronic plc, a leading global innovator in medical technology, received approval from the U.S. FDA for its Pipeline Flex Embolization Device with Shield Technology. This groundbreaking technology, developed by Medtronic plc, represents a proprietary advancement in biomaterial science. It enhances flow diversion therapy by introducing the first surface-modified implant device with reduced material thrombogenicity, which refers to the surface treatment material's ability to form clots. The nation's first patient procedure with this innovative technology was completed at NYU Langone Health in , U.S.
Key Players: Shape Memory Medical Inc., Terumo Corp, Penumbra Inc., Abbott Laboratories, Stryker Corporation, Cook Medical, Medtronic PLC, Merit Medical Systems Inc., Johnson and Johnson (Cerenovus), and Boston Scientific Corporation, among others
