The global vascular plugs market size was USD 109.9 million in 2021. The market is projected to grow from USD 116.2 million in 2022 to USD 178.5 million by 2029, exhibiting a CAGR of 6.3% during the forecast period. This information is provided by Fortune Business Insights, in its report, titled, “Vascular Plugs Market, 2022-2029.”
According to our analysts, the growing occurrence of vascular ailments and surging number of peripheral embolization processes is anticipated to spur the implementation rate of these devices during the forecast period.
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| North America | United States, Canada and Mexico |
| Europe | Germany, UK, France, Italy, Russia and Turkey etc. |
| Asia-Pacific | China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc. |
| South America | Brazil, Argentina, Columbia etc. |
| Middle East & Africa | Saudi Arabia, UAE, Egypt, Nigeria and South Africa |
COVID-19 Impacts:
Deterioration in Non-Vital Operations during COVID-19 to Hinder Product Sales
The COVID-19 pandemic adversely affected the growth of global market in 2020. Prime players in the market observed drop in their revenues due to fall in the volume of vascular processes and lower sales of devices. Also, in various healthcare settings, crucial healthcare sources were transferred to administer COVID-19 patients, leading to restricting non-important hospital visits and drop in the number of non-prominent embolization procedures.
Segments:
Strong Emphasis of Manufacturers on Arterial & Venous Embolization Plugs to Boost Dominance
Based on type, the market is segmented into arterial & venous embolization plugs, congenital heart malformation closure plugs, and others. The arterial & venous embolization plugs segment held a dominant share of the market in 2021, owing to constant focus of market players to launch device for arterial & venous embolization.
On the basis of material, the market is categorized into titanium nickel (nitinol) and others. Among end-users, the market is segmented into hospitals & clinics and independent catheterization labs.
Regionally, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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