Arteriovenous malformations (AVM) refer to congenital vascular malformations, which consist of a complex tangle of abnormal and enlarged blood vessels connecting arteries and veins, bypassing the capillary bed. These malformations can occur in the brain, spine, lungs, and other organs. AVMs most commonly occur in the brain and brain's blood vessels. Brain AVMs require careful treatment to prevent life-threatening bleeding and neurological problems. Treatment options for brain Arteriovenous Malformations Market includes minimally invasive endovascular embolization procedures using liquid epoxy or detachable platinum coils to block the blood vessels and prevent bleeding. The Global Arteriovenous Malformations Market is estimated to be valued at US$ 693 million in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2032.
Key Takeaways
Key players operating in the Arteriovenous Malformations market are Medtronic, Stryker, Terumo Corporation, Johnson Johnson, and Boston Scientific Corporation.
The increasing incidence rate of arteriovenous malformations (AVM) is expected to drive market growth. According to a study published in Neurology, the overall incidence rate of AVM is approximately 1.1 to 1.35 new cases per 100,000 person-years.
Technology advancements such as flow diverters and liquid embolic agents are helping clinicians better treat complex AVMs and reduce risk of complications. Microsurgical resection techniques using microscope and endoscope have also improved treatment outcomes for brain AVMs.
Market Trends
The rising adoption of minimally invasive endovascular procedures: The market has witnessed an increased number of endovascular procedures such as embolization and flow diversion being performed to treat brain AVMs. This is mainly due to advantages such as minimal incision, reduced risk of infection, shorter hospital stay, and faster recovery time associated with endovascular methods.
Growing popularity of Onyx liquid embolic agent: Onyx liquid embolic agent is being widely adopted for the treatment of complex vascular malformations due to its properties like ability to penetrate deep into the abnormal vasculature and provide a permanent block.
Market Opportunities
Untapped growth potential in emerging economies: There exists significant growth opportunities in developing markets such as India, China, Brazil owing to growing healthcare expenditures, increasing awareness, and improving access to advanced treatment options in these regions.
Newer technologies in the pipeline: Companies are investing in innovation and coming up with newer technologies such as bioabsorbable liquid embolics, advanced flow diverters and stent-assisted coiling systems to offer more effective treatment solutions.
Impact of COVID-19 on Arteriovenous Malformations Market Growth
The COVID-19 pandemic has adversely impacted the growth of the Arteriovenous Malformations market. During the pandemic, the number of brain surgeries and other medical procedures declined significantly due to lockdowns and restrictions imposed. This negatively affected the demand for arteriovenous malformation (AVM) treatment devices and equipment in 2020. However, with the resumption of non-COVID healthcare services in 2021, the market is gradually recovering.
In the pre-COVID era, the Arteriovenous Malformations market was growing at a steady pace owing to the rising incidence of brain AVMs and advancements in treatment technologies. Neurointerventional procedures emerged as a mainstream treatment approach for brain AVMs. However, during the peak of the pandemic in 2020, most elective surgeries were postponed to avoid virus exposure and conserve medical resources for COVID patients. This resulted in a short-term decline in the revenues of key players in the AVM market.
As the pandemic situation improves with higher vaccination rates, the demand for AVM treatments is expected to bounce back. Market players are focusing on expanding telehealth services to continue engaging with patients during such crises. Governments too are taking initiatives to ramp up non-COVID care. With a focus on sanitisation, social distancing and prioritising critical procedures, the Arteriovenous Malformations market is projected to regain its pre-COVID growth trajectory in the coming years.
Regional Scenario of the Arteriovenous Malformations Market
In terms of value, North America accounts for the largest share in the global Arteriovenous Malformations market. This is attributed to factors such as the rising prevalence of cerebral AVMs, growing elderly population vulnerable to strokes, strong reimbursement structure and rapid adoption of advanced treatment technologies. For instance, embolization procedures are widely used in the United States for curing brain AVMs, driving regional growth. Europe follows North America in terms of market size due to supportive government policies and increasing healthcare expenditures.
Asia Pacific is identified as the fastest growing region for the Arteriovenous Malformations market. This can be credited to improving access to sophisticated neurointerventional therapies, rising medical tourism and surging healthcare investments in the region. China and India specifically are likely to offer lucrative opportunities for AVM treatment device makers. With growing awareness, early diagnosis and availability of multi-disciplinary care, the Asia Pacific Arteriovenous Malformations market is positioned for high growth in the coming years.
Regional Scenario of the Arteriovenous Malformations Market
The growth of Arteriovenous Malformations market is concentrated majorly in the Asia Pacific region. Factors such as rising healthcare infrastructure, growing disposable income, increasing per capita healthcare expenditure, and expanding medical tourism industry are driving the growth of the AVM market in Asia Pacific.
Countries like India, China, South Korea, and Japan are experiencing tremendous economic development. As a result of prosperous economies, people in Asia Pacific countries are now able to afford advanced medical treatments for critical illnesses such as brain arteriovenous malformations which were earlier considered a rich man's disease. Countries in this region are also actively working towards universal healthcare coverage which is further improving access to AVM diagnosis and care.
The Asia Pacific region is emerging as a medical tourism hub for treatments like cerebral angiography, endovascular embolization, radiosurgery, and microsurgery. This trend is attracting patients from other regions to the Asia Pacific for affordable AVM care. Coupled with the rising incidence of strokes and the growing aging population in nations such as China and India, the Asia Pacific Arteriovenous Malformations market is expected to witness fastest growth over the forecast period compared to other regions.
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