Market Trends of Global Vascular Plugs Industry
This section covers the major market trends shaping the Vascular Plugs Market according to our research experts:
Arterial or Venous Closer Vascular Plugs Segment is Expected to Show a High Growth During the Forecast Period
The Arterial or Venous Closer Vascular Plugs segment is expected to hold a significant market share. As per the National Center for Biotechnology, an article published in 2020, arterial or venous closer vascular plugs are the established type of embolic devices that are an excellent alternative to coils or detachable balloons to embolize medium to large vessels with high flow. These devices are also easy to use and could be precisely deployed in the target vessel with high resistance to migration and a low recanalization rate. The arterial or venous closer vascular plugs have minimal risk of migration even in high-flow situations or in short landing zones, where coils may not be stable. The delivery mechanism also allows repositioning. It is possible to achieve occlusion of a large-diameter vessel with a single device rather than multiple coils. It could also be used when coil placement does not achieve complete occlusion. Thus, the advantages offered by Arterial or Venous Closer Vascular Plugs are generating the demand for arterial or venous closer vascular plugs in healthcare settings which are fueling the growth of the market.
Increasing research and development activities along with novel product launches are further boosting the demand for the product. For instance, in july 2021, Terumo Medical Corporation has launched AZUR Vascular Plug which represents a balance of properties - stability, accuracy, and reliable occlusion. The Azur Vascular Plug comes in sizes to treat arterial anatomy ranging from 2.5mm to 8mm, with a short deployment length for increased precision. The Features involves a conformable nitinol braid that stays in place, even in tortuous anatomy. It also comes with a polytetrafluoroethylene (ePTFE) and polyethylene terephthalate (PET) inner composite membrane to facilitate mechanical occlusion.
Thus, the aforementioned factors are propelling the growth of the segment.
North America is Expected to Dominate the Vascular Plugs Market
In 2020, North America dominated the global vascular plugs market, The large share of the North American market could be attributed to the increasing prevalence of cardiovascular diseases, the growing trend of one-day surgeries for vascular procedures, rising research, and clinical trials for vascular plugs in the United States, the increasing number of cardiac arrest cases, and the long waiting periods for cardiac surgeries in the region.
Also, the rising number of vascular surgeries in the United States are increasing demand for vascular plugs in the region. As per the society of vascular surgery report published in 2021, as the United States' population of Baby Boomers continues to age, the potential for vascular disease increases. In 2020, the youngest Baby Boomers turned 55. Because many vascular diseases occur in the elderly, these 76 million Americans would create a demand for more vascular health services such as vascular plugs.
Also approximately, 200,000 people in the United States are diagnosed annually with an abdominal aortic aneurysm (AAA). Approximately 795,000 people Americans die each year from a ruptured abdominal aortic aneurysm (AAA). Vascular disease could block the carotid arteries to the brain and cause paralyzing strokes. Stroke remains the third leading cause of death in the United States as per the American Stroke Association statistics. Thus, the increasing incidences of stroke are propelling the need for vascular plugs in tretament processess. Thus, the aforementioned factors are boosting the growth of the North America Region.
