The embolization market is estimated to be valued at US$ 1,433.6 million in 2022 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Embolization refers to a minimally invasive vascular procedure where small particles are inserted into blood vessels to obstruct blood flow to specific organs or tissues. Key applications of embolization include treatment of uterine fibroids, liver tumors, bland embolization for trauma, embolization of cerebral arteriovenous malformations and aneurysms. Technological advancements in embolization products such as use of resorbable embolic agents and detachable coils have expanded the scope of this technique to treat numerous medical conditions.

Market Dynamics:

The embolization market is driven by growing technological advancements in embolization products and increasing adoption of minimally invasive procedures. Some of the advanced technologies include utilization of liquid embolics such as ethylene vinyl alcohol copolymer (Onyx) and newer polymer mixtures, use of radioactive embolization agents such as TheraSphere and SIR-Spheres, as well as detachable coils. These advancements have expanded the treatment landscape of embolization from neurovascular diseases to oncology and other clinical areas. For instance, use of Onyx liquid embolic agent has enabled the treatment of larger brain AVMs that were traditionally difficult to access via endovascular route. Further, growing preference for minimally invasive procedures among patients and physicians over conventional open surgeries owing to benefits such as lesser pain, fewer complications, and shorter hospital stays is propelling the demand for embolization procedures. However, high cost of e

SWOT Analysis

Strength: Explain in three sentence explanation

- The embolization market is driven by the rising prevalence of cancer and cardiovascular diseases. Embolization procedures offer minimal invasion and faster recovery time compared to conventional surgeries. Advanced embolization technologies allow interventional radiologists to treat complex diseases.

Weakness: Explain two weakness in three sentence long explanation

- Embolization procedures require highly skilled interventional radiologists for performing complex procedures which results in limited number of trained medical professionals. High cost of advanced embolization devices and equipment's restricts its adoption in price sensitive markets.

Opportunity: Explain two opportunity in three sentence long explanation

- Growing geriatric population suffering from chronic diseases presents an opportunity for market players to develop innovative embolization products. Rising healthcare expenditure in emerging nations creates growth prospects for market players. Technological advancements in 3D imaging, guidewires, and embolic agents will further expand application areas of embolization procedures.

Threats: Explain two threats two sentence explanation

- Stringent regulatory approval process and ongoing product recalls delay market entry of novel embolization devices. Risk of complications associated with transcatheter embolization procedures discourage patients from adopting minimally invasive treatments.

Key Takeaways

The Global Embolization Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing prevalence of cancer, cardiovascular, gastrointestinal diseases and rising preference for minimally invasive procedures. North America currently dominates the market and is expected to maintain its lead over the forecast period due to growing awareness about embolization procedures, availability of skilled healthcare professionals, and favourable reimbursement policies.

Regional analysis Europe is the second largest market driven by rapidly aging population base suffering from chronic conditions requiring embolization and heavy investments by market players for developing advanced technologies. The Asia Pacific region is anticipated to showcase highest growth rate in the global embolization market owing to rising healthcare expenditure, increasing penetration of private healthcare players, and growing burden of lifestyle diseases requiring clinical intervention..

Key players operating in the embolization market are IMBiotechnologies Ltd., ABK Biomedical Inc., EmboMedics, Boston Scientific Corporation, Medtronic Plc., Varian Medical Systems, Inc., Terumo Corporation, Merit Medical Systems, Inc., Cook Group, and Johnson & Johnson. The major players are pursuing inorganic growth strategies of acquisitions and partnerships to gain technological expertise and product portfolio expansion to strengthen their market position in the high growth sectors of Asia Pacific and Latin America regions.

Read more: https://www.ukwebwire.com/embolization-market-insights-trends/