AI adoption trends projected to boost the growth of Embolization Market

Embolization Market


 Market Overview:

Embolization is a minimally invasive procedure used for blocking blood vessels through the purposeful introduction of materials such as micro coils, liquids, foams and particles into the blood vessel leading to occlusion. This procedure is frequently used to treat cancerous growths, uterine fibroids and abnormal blood vessel formations. It offers advantages such as minimal scarring, reduced risks of infection and bleeding and shorter recovery time. With advancements in minimally invasive procedures and growing adoption of AI technology, the demand for embolization procedures is on the rise.

Market key trends:
Rising demand for minimally invasive procedures: Advances in interventional radiology and AI guidance systems have increased the adoption of minimally invasive procedures over conventional open surgeries. Minimally invasive procedures offer benefits such as reduced post-procedure pain, lower risk of infection and scarring. Growing awareness about advantages of embolization procedures is fueling their demand.
Increasing research and development: Key players are increasingly investing in R&D to develop advanced embolization devices and fluids such as drug eluting microspheres and detachable coils. Ongoing research to expand the application scope of embolization procedures for treatment of other diseases and conditions is also supporting market growth. Adoption of AI and robotics: Integration of AI technology and robotics offers benefits such as improved accuracy, minimal invasiveness and shorter procedure time. With increasing AI adoption trends, companies are developing AI-guided embolization systems which can expand the market potential over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as significant capital investment is required to build manufacturing facilities and establish distribution channels. In addition, established players enjoy economies of scale and brand loyalty that provides them an advantage over new players.
Bargaining power of buyers: The bargaining power of buyers is moderate given the availability of alternative treatment options for various diseases. However, technological advancements are helping reduce healthcare costs.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many component suppliers and commodity-like nature of raw materials.
Threat of new substitutes: The threat of new substitutes is low as embolization techniques have significant advantages over alternative treatment options and newer technologies usually enhance rather than replace existing techniques.
Competitive rivalry: Intense as major players compete based on product portfolio expansion, pricing, and geographical presence.

Key Takeaways
The Global Embolization Market Share is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing prevalence of cardiovascular, oncology and neurological disorders. North America is the largest market for embolization currently however Asia Pacific is poised to register fastest growth during the forecast period driven by growing medical tourism, rising healthcare investments and increasing incidence of target diseases.

Key players operating in the embolization market are IMBiotechnologies Ltd., ABK Biomedical Inc., EmboMedics, Guerbet, Boston Scientific Corporation, Medtronic Plc., Varian Medical Systems, Inc., Terumo Corporation, Merit Medical Systems, Inc., Cook Group, and Johnson & Johnson. Regional analysis related content comprises Regional analysis related content

North America currently dominates the global embolization market owing to advanced healthcare infrastructure, favorable reimbursement policies, new product approvals and rising prevalence of chronic diseases in the region. Asia Pacific region is expected to witness highest growth during the forecast period owing to expanding medical tourism industry, rapidly increasing healthcare spending and heavy burden of cancer and cardiovascular diseases.

Read More:

https://www.dailyprbulletin.com/embolization-market-is-estimated-to-witness-high-growth/

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