Global Embolization Market Players Focus on Approval and Launch of New Products
Embolization is a procedure where a thin tube is threaded through a vein or artery and a soft metal coil is inserted into the affected blood vessel. This minimally invasive treatment that blocks one or more blood vessels or abnormal vascular channels.
Major players operating in the global embolization market include, ABK Biomedical Inc., Boston Scientific Corporation, Cook Group, EmboMedics, Guerbet, IMBiotechnologies Ltd., Johnson & Johnson, Medtronic Plc., Terumo Corporation, Merit Medical Systems, Inc., and Varian Medical Systems, Inc.
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Key Market Drivers:
Approval and launch of new products is expected to propel growth of the global embolization market over the forecast period. For instance, in October 2021, Varian, a Siemens Healthineers company, received U.S. Food and Drug Administration’s breakthrough device designation for its Embozene microspheres for genicular artery embolization for symptomatic knee osteoarthritis.
Moreover, high prevalence of brain aneurysm is also expected to propel growth of the global embolization market over the forecast period. For instance, according to the Brain Aneurysm Foundation, around six million people in the U.S. i.e. one in 50 people suffer from brain aneurysm every year.
Covid-19 Impact Analysis
Globally, as of 5:54pm CET, 27 December 2021, there have been 279,114,972 confirmed cases of COVID-19, including 5,397,580 deaths, reported to WHO. As of 23 December 2021, a total of 8,649,057,088 vaccine doses have been administered. Supply of key materials such as probes required for interventional ablation have been severely disrupted due to forced quarantine, and imposed lockdowns in various countries.
The global embolization market is witnessing recall of products. For instance, in September 2021, Medtronic Plc recalled Pipeline Flex Embolization devices used to treat brain aneurysms following reports of serious injuries and at least two deaths.
Major players operating in the global embolization market are focused on approval and launch of new products to expand their product portfolio. For instance, in April 2020, Kaneka Corporation received the U.S. Food and Drug Administration approval for its new brain aneurysm Embolization Coil.
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