Embolization Market- Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

 

Embolization Market

Researchers and key players are focusing on the development of novel embolization products for the treatment of chronic diseases such as tumour, haemorrhage, and others, which will drive growth in the global embolization market over the forecast period. For example, MicroVention, Inc., a Terumo subsidiary and global neurovascular company, received FDA approval in January 2021 for its PMA Supplement for the WEB 17 System, a new addition to the WEB Aneurysm Embolization System for the treatment of intracranial wide neck bifurcation aneurysms. The WEB 17 System is built with the most recent MicroBraid technology and includes a lower profile delivery system that is compatible with the VIA 17 microcatheter as well as additional device configurations.

The global Embolization Market is estimated to be valued at US$ 1,433.6 million in 2020 and is expected to exhibit a CAGR of 8.1% over the forecast period (2020-2027).

Over the forecast period, the rising prevalence of chronic diseases such as cancer, cardiovascular disease, neurovascular disease, and others is expected to drive growth in the global embolization market. For example, according to World Health Organization statistics published in March 2021, cancer is the second leading cause of death worldwide, accounting for approximately 10 million deaths per year, and accounting for approximately one in every six deaths. Furthermore, according to the same source, an estimated 9.6 million people died from cancer in 2018.

Furthermore, the prevalence of ischemic heart disease is increasing, according to the Global Burden of Disease (GBD), an article published in the National Center for Biotechnology Information (NCBI) in July 2020. According to the GBD datasets, the prevalence rate of ischemic heart disease was 1,655 per 100,000 global population in 2020 and is expected to exceed 1,845 by 2030. Furthermore, according to the Brain Aneurysm Foundation report 2020, brain aneurysms cause nearly 500,000 deaths worldwide each year, with half of the victims being under the age of 50.

Embolization Market Divisions-

·        Product Type: Particles (Radioembolization Spheres, Drug-Eluting Beads, Microspheres (or Blands beads, without drug), PVA particles (Polyvinyl Alcohol)), Liquid Embolic, Plugs, Coils

·        Indication: Hemorrage/Bleeding, Benign Prostatic Hyperplasia (BPH), Uterine Fibroid, Tumor (Malignant, including Liver Cancer), Malformation (AVM, AVF), Venous embolization (incl. Varicocele for ex), Others

·        End User: Hospitals & Clinics, Ambulatory Surgical Centers, Others

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