Vascular Embolization Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, France, UK, Japan - Size and Forecast 2024-2028

Vascular Embolization Devices Market Forecast 2024-2028

The global vascular embolization devices market size is estimated to grow by USD 735.35 million at a CAGR of 6.69% between 2023 and 2028. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

Moreover, the array of new launches under the market across product lines provides better options to buyers, which helps stimulate the overall product demand for medical equipment in the market. Encouraged by this demand growth, healthcare equipment manufacturers are finding opportunities to convert this increased demand into a continuous cycle of innovation and improvisation for enhanced products. Thus, all these factors have the potential to accelerate the growth of the healthcare equipment market, including the market, during the forecast period.

What will be the size of the Market During the Forecast Period?

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Segmentation by End-user, Product, and Geography Analysis

 End-user Analysis

The market share by the hospitals segment will be significant during the forecast period. These devices are in high demand in hospitals because they are the main delivery point for medical care. This is due to the high incidence of vascular disease and the growing acceptance of minimally invasive techniques. Additionally, the development of healthcare infrastructure and the increasing awareness among healthcare providers of the advantages of interventional therapies increase the demand for these devices in hospitals around the world.

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The hospitals segment was valued at USD 1.04 billion in 2018. In the market, hospitals represent a key segment due to their extensive patient base and the availability of specialized medical personnel capable of performing complex procedures. For instance, large tertiary care hospitals & clinics often possess dedicated interventional radiology (IR) departments equipped with state-of-the-art imaging technologies and interventional suites, where various embolization procedures are routinely performed. Commonly used devices in hospitals include the following: Embolic coils, Liquid embolic agents, Microspheres and particles These factors under the hospital segment will fuel the expansion of the market during the forecast period.

Product Analysis

The coiling devices segment dominates the market due to factors like rising cancer and vascular disease cases, new product launches, and increased R&D investments by key players. Established companies and new entrants are driving segment growth through innovative coiling products. For instance, Medtronic's pipeline vantage device with shield technology and Terumo Corp.'s WEB Embolization System have bolstered market expansion. Coiling has become the preferred treatment for neurovascular diseases, with increasing adoption due to its clinical superiority and cost-effectiveness over surgical options. The rising prevalence of aneurysms further boosts demand for coiling devices, projecting market growth during the forecast period. 

The non-coiling devices segment is poised for rapid growth, driven by technological advancements, favorable reimbursement policies, and increased product launches from new players. Key vendors' focus on R&D activities also contributes to segment expansion. Non-coiling devices like embolization plugs and liquid embolics offer advantages over coiling devices, such as precise deployment and reduced complications. Surgeons are increasingly adopting non-coiling devices, spurring demand. Start-ups are introducing innovative products, further stimulating segment growth and fueling the market during the forecast period. 

Regional Analysis

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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The North American market is poised for moderate growth due to advancing technology, increased product launches, and heightened funding for innovative medical devices by start-up companies. Rising cases of cancer and vascular diseases, along with a skilled workforce for embolization procedures, will drive market expansion. Regulatory approvals for new devices from emerging players and government support for research and development further bolster growth. Enhanced devices will enable real-time monitoring and improve the effectiveness of embolization procedures, benefiting patients and practitioners alike.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Guerbet: The company offers vascular embolization devices such as DC Bead, which contains hydrophilic microspheres made from cross-linked polyvinyl alcohol polymer. It is injected via a catheter into targeted blood vessels to achieve selective embolization.

Acandis GmbH, B.Braun SE, BALT Group, Boston Scientific Corp., Braile Biomedica, Eisai Co. Ltd., Embolx Inc., Johnson and Johnson Services Inc., Kaneka Corp., Medtronic, Merit Medical Systems Inc., Penumbra Inc., Shape Memory Medical Inc., Spartan Micro Inc., Stryker Corp., Wallby Medical LLC, Terumo Corp., Cook Group Inc., and Abbott Laboratories

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market plays a crucial role in managing blood flow and halting the progression of disease. It addresses conditions such as bleeding and enables the delivery of targeted treatments. With organizations like the Brain Aneurysm Foundation raising awareness about unruptured brain aneurysms and ruptured brain aneurysms, hospitals and healthcare services rely on vascular embolization techniques. These include procedures like severe hemoptysis (SH) and bronchial artery embolization (BAE), performed by skilled interventional radiology (IR) staff. Used in treating various vascular diseases and gastrointestinal diseases, embolization products facilitate minimally invasive procedures for conditions like liver cancer and hepatocellular carcinoma, utilizing effective embolic agents. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Drivers

The growing number of M&A activities is the key factor driving the market. Recognizing the interconnected nature of vascular diseases and the prevalence of targeted diseases, companies are increasingly seeking to diversify their product portfolios to offer integrated solutions that address a broader spectrum of patient needs and therapeutic purposes. Through strategic acquisitions of companies specializing in related vascular disease products such as stents, catheters, and imaging technologies, market players aim to augment their capabilities and offer comprehensive treatment options to healthcare providers and patients.

Additionally, market players are engaging in M&A activities as a business strategy for technological advancements and to expand their product portfolio and strengthen their business in oncology, neurology, and urology. Further, in September 2021, Abbott Laboratories acquired Walk Vascular to bolster its endovascular product portfolio with embolization devices. Thus, such an increase in the number of M&A by companies will fuel the growth of the market in focus during the forecast period.

Significant Trends

Innovation in embolization products and procedures is one of the primary market trends shaping the growth. 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 embolism, have enabled physicians to perform embolization procedures with more ease and accuracy, which has driven the demand for vascular embolization devices.

Further, key players are developing new coils with various technological innovations, which are likely to drive market growth during the forecast period. The market players investing in the development of different varieties of embolization coils, which are designed for dedicated applications. For instance, Penumbra Inc. developed three coil technologies: ruby coil, penumbra occlusion device (POD), and POD Packing Coil. Each coil technology is different in terms of coil shape and softness. Thus, such factors will drive the growth of the market during the forecast period.

Major Challenges

The existence of product recalls is the major challenge that affects market expansion. The medical equipment industry witnesses frequent product recalls on account of safety or functionality issues. There are instances where the medical equipment must be checked, adjusted, or fixed to ensure that it does not fail unexpectedly or violate regulatory guidelines. Medical equipment manufacturers also recall their devices to inspect and repair them so that they do not cause serious health issues in patients.

Consequently, such instances cause a major setback to the underlying player's financial books and hamper the growth of the market. Furthermore, issues related to products, errors in product designs, software errors, or other issues can lead to product recalls. Manufacturing defects, technical errors, and labeling and design faults in products can also lead to improper results and patient management. In such cases, either regulatory authorities or the manufacturers recall products. Thus, such factors may impede market growth during the forecast period.

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Key Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

 Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• End-user Outlook
  • Hospitals
  • Speciality clinics
  • ASCs

• Product Outlook
  • Coiling devices
  • Non-coiling devices

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Australia

Market Analyst Overview:

The market is witnessing rapid growth, driven by advancements in embolization particles and liquid embolic agents. With a focus on treating conditions like arteriovenous malformations (AVMs) and cerebral aneurysms, these devices find applications in neuro-interventional radiology and neurovascular malformations. Innovations like the NUMEN Silk 3-D Electronically Detachable Coil Embolization System and the Avenir Coil System enhance minimally invasive treatments, catering to a diverse patient population across hospital and clinics segment, and ambulatory surgical centers.

Further, the market experiences growth spurred by flow diverters and increasing use of liquid embolic agents. A rise in incidences of conditions like AVMs and aneurysms prompts innovations. These devices find application in treating intracranial aneurysms and peripheral vascular disease (PVD), addressing concerns related to ischemic heart disease, stroke, and other cardiovascular diseases. With contributions from organizations like the National Health Department and the American College of Cardiology, the market caters to diverse patient needs across the neurology segment, oncology segment, and specialty clinics.

Market Scope
Report Coverage	Details
Page number	167
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 6.69%
Market Growth 2024-2028	USD 735.35 million
Market structure	Fragmented
YoY growth 2023-2024(%)	5.94
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 39%
Key countries	US, Germany, France, UK, and Japan
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Acandis GmbH, B.Braun SE, BALT Group, Boston Scientific Corp., Braile Biomedica, Eisai Co. Ltd., Embolx Inc., Guerbet, Johnson and Johnson Services Inc., Kaneka Corp., Medtronic, Merit Medical Systems Inc., Penumbra Inc., Shape Memory Medical Inc., Spartan Micro Inc., Stryker Corp., Wallby Medical LLC, Terumo Corp., Cook Group Inc., and Abbott Laboratories
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2024 and 2028
• Precise estimation of the size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies

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