Vascular Embolization Market Updates: Predicted to Hit USD 7.8 Billion By 2031, at 7.7% CAGR, Report
Vascular embolization, also referred to as occlusion, is a medical procedure that involves obstructing the blood supply to an atypical tissue region or tumor. This technique is commonly employed in addressing a range of conditions, such as brain aneurysms, tumors like uterine fibroids, unusual developments within the circulatory system, and arteriovenous malformations (AVMs) affecting the brain and spine.
The vascular embolization market was valued at $3.7 billion in 2021, and is estimated to reach $7.8 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.
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Vascular Embolization Market Drivers
Factors that drive the growth of global vascular embolization market includes the surge in vascular ailments and the progression of vascular embolization treatment and products. The growing preference for minimally invasive procedures is anticipated to create avenues for market development. Additionally, the escalating incidence of liver cancer and hepatocellular carcinoma is expected to drive the demand for vascular embolization equipment, owing to the high success rates and minimal post-operative complications linked with embolotherapy procedures. These trends are expected to shape the future of the vascular embolization market.
Vascular Embolization Market Segmentation
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Vascular Embolization Market Regional Analysis
In terms of geographical distribution, North America held the largest share of the vascular embolization market in 2021, and it is anticipated to sustain its lead over the forecast period. This can be attributed to the increasing preference for minimally invasive procedures and the presence of robust healthcare infrastructure in the region. On the other hand, the Asia-Pacific region is projected to witness the highest compound annual growth rate (CAGR) for the vascular embolization market from 2022 to 2031. This growth is expected due to the rising incidence of chronic diseases and a surge in healthcare spending in the region.
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- ABBOTT LABORATORIES
- BOSTON SCIENTIFIC CORPORATION
- DEPUY SYNTHES (J&J MEDICAL DEVICES)
- BALT
- MERIT MEDICAL SYSTEMS
- TERUMO CORPORATION
- STRYKER CORPORATION
- MEDTRONIC PLC
- COOK MEDICAL
- KANEKA CORPORATION
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Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vascular embolization market analysis from 2021 to 2031 to identify the prevailing vascular embolization market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porterβs five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the vascular embolization market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global vascular embolization market trends, key players, market segments, application areas, and market growth strategies.
Key findings of the study
β’ On the basis of product, the embolic agents segment was highest contributor to the vascular embolization industry in 2021.
β’ On the basis of application, the neurology segment dominated the vascular embolization market share in 2021, and is expected to continue this trend during the forecast period.
β’ On the basis of end user, the hospitals & clinics segment dominated the vascular embolization industry in 2021, and is expected to grow at a higher CAGR.
β’ On the basis of region, North America generated the largest revenue share in 2021, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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