Report : North America Embolization Agents Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Coils, Plugs, Beads/ Particles, Detachable Balloons, Glue, Sponge, Liquid Embolics, Sclerosants, Precipitating Agents, and Others), Application (Oncology, Neurology, Urology, Cardiology, Peripheral Vascular Diseases, and Others), and End User (Hospitals, Cardiac Centers, Ambulatory Surgical Centers, and Others)
Hospitals Segment to Dominate North America Embolization Agents Market during 2019–2028
According to a new market research study on “North America Embolization Agents Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User,” is expected to reach US$ 1,763.73 million by 2028 from US$ 1,041.25 million in 2021. The market is estimated to grow at a CAGR of 7.8% from 2021 to 2028. Rise in the incidence of tumors and aneurysms is the major factor driving the growth of the North America embolization agents market. However, high cost of embolization agents may hinder the growth of North America embolization agents market. The report provides trends prevailing in the North America embolization agents market along with the drivers and restraints pertaining to the market growth.
The United States has the highest number of COVID-19 cases in North America. The epidemic has caused havoc in the medical industry in North American countries, with demand for diagnostic and therapeutic assistance to combat the sickness skyrocketing. Furthermore, the COVID-19 pandemic is posing unprecedented operational and clinical problems to healthcare institutions in the region. Furthermore, a shift in focus from cardiovascular therapy to COVID-19 therapeutic services resulted in a reduction in the growth of the North American embolization agents market in 2020. COVID patients with comorbidities including CVDs and hypertension require critical ICU resources and are at a high risk of developing further problems. As a result, most hospitals and surgical centres have considered cancelling or deferring elective surgery, such as cardiovascular procedures. There was a 52.7 percent decline in adult cardiac surgery volume and a 65.5 percent reduction in elective cases in the United States, according to the Society of Thoracic Surgeons Adult Cardiac Surgery Database and the Johns Hopkins COVID-19 database. Following the first COVID-19 surge, nationwide cardiac surgical case volumes decreased, indicating a COVID-19-related impact on heart surgery patients. In the long run, however, with the widespread deployment of vaccination campaigns and a drop in the transmission rate, healthcare systems are returning to normal, and demand for embolization products is projected to recover to normal in the future years.
The embolization agents market is segmented into product, application, end user, and country. Based on product, the market is segmented into coils, beads/particles, plugs, detachable balloons, glue, sponge, liquid embolics, sclerosants, precipitating agents, others. The beads/particles segment held the largest share of the market in 2020. Based on coils the market is divided into detachable coils and pushable coils. The pushable coils segment held the largest share of the market in 2020. Based on beads/particles the market is divided into spherical and non-spherical. The pushable non-spherical segment held the largest share of the market in 2020. Based on application, the market is segmented into neurology, oncology, cardiology, peripheral vascular diseases, and others. In 2020, the oncology segment is likely to hold the largest share of the market. The embolization agents market by end user, is segmented into hospitals, ambulatory surgical centers, cardiac centers, and others. The hospitals segment held the largest share of the market in 2020. Based on country the market is divided into US, Canada, and Mexico. In 2020, the US is likely to hold the largest share of the market.
Abbott; Boston Scientific Corporation; Cook Medical LLC; DePuy Synthes; KANEKA CORPORATION; Medtronic; Merit Medical Systems Inc; Penumbra, Inc.; Stryker Corporation; and Terumo Corporation are among the leading companies in the North America embolization agents market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Terumo Medical Corporation (TMC) has launched the AZUR Vascular Plug, the first and only plug compatible with a microcatheter and capable of occluding arteries up to 8mm in diameter. The newest addition to Terumo's extensive embolization portfolio is recommended for use in arteries of the peripheral vasculature to limit or stop blood flow.
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