Vascular Embolotherapy Market Size Projection (2024-2030)

The estimated value of the Vascular Embolotherapy Market stood at USD 4.03 Billion in 2023, with a projected growth to USD 6.06 Billion by 2030, indicating a Compound Annual Growth Rate (CAGR) of 6% during the forecast period spanning from 2024 to 2030.

Vascular Overview

In contrast to conventional open surgery, embolization offers a minimally invasive approach to treat various vascular conditions by obstructing one or more blood vessels or anomalous vascular pathways. Embolization techniques enable the blockage of blood vessels, serving as an alternative to invasive surgical procedures. Widely employed in interventional radiology, embolization effectively halts blood flow through mechanical occlusion of blood arteries or vascular areas. The utilization of vascular embolization agents presents numerous benefits, including high success rates, minimal need for general anesthesia, shorter recovery periods, reduced infection risks, and absence of scarring. The market anticipates significant growth driven by increasing demand for minimally invasive procedures. For instance, data from the American College of Cardiology indicates approximately 1.2 million angioplasties performed in the United States in 2020. Moreover, hospitals' widespread accessibility and cost advantages over specialty clinics are expected to attract a substantial patient base. Key drivers propelling the global vascular embolotherapy market include the escalating prevalence of vascular diseases, advancements in embolization products and techniques, heightened research and development activities, and growing preference for less invasive interventions. The market's expansion will be further fueled by the increasing adoption of minimally invasive procedures alongside the rising incidence rates of peripheral vascular diseases, liver cancer, strokes, uterine fibroids, as well as augmented research funding and investments from both public and private sectors.

Global Vascular Embolotherapy Market Drivers:

Increasing Global Incidence of Vascular Diseases Driving Market Growth:

The global incidence of vascular diseases is projected to rise over the forecast period, contributing to the expansion of the global vascular embolotherapy market. Vascular diseases encompass various conditions affecting the vascular system, which can be severe and prevalent. For instance, according to the World Health Organization (WHO), cardiovascular diseases (CVDs) account for an estimated 17.9 million deaths annually, representing the leading cause of global mortality, with 35% of deaths attributable to CVDs worldwide.

Advancements in Embolization Products and Techniques Propel Market Growth:

Anticipated advancements in embolization products and techniques are expected to drive further growth in the global vascular embolotherapy market. For example, Terumo Medical Corporation introduced its AZUR Vascular Plug in July 2021, representing the first plug-like device equipped with a micro-catheter for occluding arteries with diameters of up to 8 mm. This novel addition to Terumo's established embolization portfolio is recommended for use in reducing or halting blood flow rates in peripheral vascular arteries.

Global Vascular Embolotherapy Market Challenges:

Vascular embolotherapy entails intricate procedures and equipment, posing challenges for training and implementation among medical personnel. Despite advancements, there remains limited awareness regarding the benefits and accessibility of vascular embolotherapy among both medical professionals and patients, potentially constraining market expansion. Products employed in vascular embolotherapy are subject to stringent regulatory clearances and safety evaluations, which may prolong product introductions and elevate overall development costs. Additionally, there exists a shortage of skilled surgeons, including radiologists and neurosurgeons, within the healthcare sector. According to projections from the Association of American Medical Colleges (US), the US is anticipated to face a shortage of 41,000 general surgeons by 2025. Similarly, India is experiencing shortages in oncologists, radiotherapists, and surgical oncologists, with just one oncologist for every 2,000 cancer patients in the country, which has approximately 1.8 million cancer patients. The global shortage of oncologists and radiologists is expected to influence the adoption of embolotherapy techniques. Moreover, varying reimbursement regulations and coverage for vascular embolotherapy across different regions contribute to confusion and financial challenges for patients and healthcare professionals alike.

Impact of COVID-19 on the Global Vascular Embolotherapy Market:

The COVID-19 pandemic significantly disrupted healthcare systems worldwide, leading to the postponement or cancellation of numerous non-emergency procedures and surgeries, consequently reducing the demand for vascular embolotherapy procedures temporarily. The pandemic underscored the importance of minimizing hospital stays and infection risks, thus elevating the significance of minimally invasive techniques like vascular embolotherapy as alternatives to more invasive interventions. This shifting preference towards minimally invasive therapies may eventually drive market growth. Originating in Wuhan, China, in December 2019, COVID-19 rapidly evolved into a global pandemic, imposing unprecedented strain on healthcare systems worldwide. In response, companies intensified their research and development efforts to develop vaccines and treatments to combat the virus. The pandemic disrupted the vascular embolotherapy market as hospitals and healthcare providers faced restricted access to care for non-COVID symptoms due to global social distancing measures. Consequently, the demand for vascular embolotherapy procedures experienced a temporary decline.

Recent Developments in the Global Vascular Embolotherapy Market:

• In March 2022, ongoing research and development efforts have focused on expanding the indications for vascular embolotherapy. Novel applications of embolization procedures in the treatment of liver cancer, uterine fibroids, and benign prostatic hyperplasia (BPH) have been explored by various companies, aiming to offer less invasive alternatives to conventional treatment modalities.
• In October 2023, Biosense Webster, Inc., a division of Johnson & Johnson MedTech, launched the HELIOSTARTM Balloon Ablation Catheter, the first radiofrequency balloon ablation catheter in Europe.
• In September 2021, BTG International introduced the ICEfx Cryoablation System, a minimally invasive tool utilized for treating tumors and other vascular conditions by freezing tissue with liquid nitrogen, thereby halting blood flow and eliminating aberrant cells.

Segmentation of the Vascular Embolotherapy Market by Product Type includes the following categories:

• Microspheres
• Embolic coils
• Embolic Plug Systems
• Detachable Balloons
• Liquid Embolic Agents
• Other Devices

Microspheres, small spherical entities, are utilized in embolization procedures to restrict or halt blood flow to specific areas. Typically composed of biocompatible materials such as gelatin or acrylic, these microspheres are deployed to achieve therapeutic outcomes. Embolic coils, consisting of small metallic wires or coils, are inserted into blood vessels to induce clotting and impede blood flow. They find frequent application in managing vascular abnormalities and aneurysms. Embolic plug systems, designed to physically obstruct blood vessels or shunts, employ plug-like devices inserted via catheters to halt blood flow. Detachable balloons, inflatable devices introduced into blood vessels, are utilized to temporarily or permanently obstruct blood flow, often in the treatment of aneurysms and arteriovenous malformations. Liquid embolic agents, injectable compounds, are utilized to obstruct blood vessels, with the potential to solidify or polymerize post-injection, effectively impeding blood flow.

Global Vascular Embolotherapy Market Segmentation by Indication comprises:

• Peripheral Vascular Disease
• Neurovascular Disease
• Oncology
• Uterine Fibroids
• Varicocele
• Other Conditions

Peripheral Vascular Disease encompasses various conditions affecting peripheral arteries, including arteriovenous malformations, deep vein thrombosis, and peripheral arterial disease. Vascular embolotherapy techniques are employed to occlude or halt blood flow in affected arteries. Neurovascular Disease involves the treatment of conditions affecting blood vessels in the brain and central nervous system, such as arteriovenous malformations and intracranial aneurysms, using embolotherapy methods. In Oncology, vascular embolotherapy plays a crucial role in blocking blood supply to tumors using embolic agents, inducing tumor necrosis or shrinkage. This approach is commonly employed in treating solid tumors like liver cancer and renal cancer. Uterine Fibroids, alternatively known as uterine fibroid embolization or uterine artery embolization, offer a minimally invasive alternative to surgical fibroid excision by restricting blood supply to fibroids, leading to symptom relief.

Global Vascular Embolotherapy Market Segmentation by End-User includes:

• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Other Healthcare Facilities

Hospitals serve as primary recipients of vascular embolotherapy treatments, boasting necessary facilities, trained personnel, and equipment for complex embolization procedures. Clinics, both general and specialized, along with outpatient facilities, offer outpatient embolization treatment with specialized expertise in areas like interventional radiology or vascular surgery. Ambulatory surgery centers provide same-day surgical procedures, including vascular embolotherapy, offering high-quality care at a lower cost compared to hospitals, particularly suitable for less involved embolization treatments.

Global Vascular Embolotherapy Market Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

The global embolotherapy market is categorized into these geographical regions, each exhibiting distinct growth drivers such as the presence of key market players, improving healthcare infrastructure, and large patient populations for target diseases. Market leader Boston Scientific Corporation, headquartered in the United States, pursues growth through acquisitions and expansions, exemplified by its acquisition of BTG, enhancing its product portfolio in areas like chemoembolization and radioembolization. The company's strategic focus on obtaining governmental and insurance approvals aligns with its long-term growth strategy, emphasizing expansion into burgeoning healthcare markets worldwide.

Key Players in the Global Vascular Embolotherapy Market:

1. Terumo Corporation
2. Medtronic plc
3. BTG International Ltd. (Part of Boston Scientific Corporation)
4. Stryker Corporation
5. Cook Medical Inc.
6. Merit Medical Systems Inc.
7. Johnson & Johnson (Cerenovus)
8. Penumbra Inc.
9. Boston Scientific Corporation
10. Cardinal Health Inc.