The Vascular Embolization Market is expected to register a CAGR of 5. 8% during the forecast period. 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.
New York, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vascular Embolization Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05982366/?utm_source=GNW
Embolization procedure is advantageous compare to other procedures due to minimally invasive in nature, faster recovery time, minimal risk of infection, no scarring, and high success rate compared to other procedures. Some of the embolic agents used in the vascular embolization are microspheres, embolic coils, embolic plug systems, liquid embolic agents. Some of the supportive devices used for vascular embolization are detachable balloons, guidewires and microcatheters.
According to American Heart Association, coronary artery disease accounts for the highest number of deaths in the United States, affecting more than 13 million people. Every year, nearly 610,000 people die of heart disease in the United States, 1 in every 4 deaths. In addition, according to World Health Organization (WHO), in the year 2016, worldwide about 31% of deaths are due to cardiovascular diseases (CVDs).
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 vascular embolization market.
Key Market Trends
Coiling Devices Segment is Expected to Hold a Major Market Share in the Vascular Embolization Market
- Coils are permanent embolization agents that cause mechanical vessel occlusion through thrombus formation. The coiling devices segment includes detachable coils and pushable coils.
- According to World Health Organization (WHO), globally cardiovascular diseases (CVDs) are the number 1 cause of death, an estimated 17.9 million each year suffer with cardiovascular diseases. Four out of 5 cardiovascular deaths are due to strokes and heart attacks, and one third of deaths occur prematurely in people under 70 years of age.
- Coiling devices segment holds a significant market share in the vascular embolization market and is anticipated to show similar trend over the forecast period due to high prevalence rate of cancer and vascular diseases.
- Technological advancements and innovations in embolization devices and increasing research and development activities have increased their adoption in the treatment of chronic conditions such as cancer and vascular diseases are the key driving factors in the coiling devices segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global vascular embolization market due to increasing prevalence of cancer and vascular related diseases and increasing research and development activities in this region. According to the Centers for Disease Control and Prevention (CDC), in the United States, approximately 365,914 people died due to coronary heart disease in the year 2017. About 18.2 million adults age 20 and older have Coronary heart disease. Moreover, about 2 in 10 deaths are due to Coronary heart disease in adults less than 65 years old. Furthermore, increase in technological advancements and new product launches, and presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Vascular Embolization Market is fragmented competitive and consists of a several major players. Some of the players have used various strategies such as expansions, new product launches, acquisitions, and others to increase their footprints in this market. Some of the companies which are currently dominating the market are Medtronic Plc, Cook Medical, Stryker Corporation, Boston Scientific Corporation, Abbott Laboratories, Johnson and Johnson (cerenovus), Merit Medical Systems Inc, Penumbra Inc, Terumo Corp and Shape Memory Medical Inc.
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