The global Embolotherapy market gathered revenue around USD 2.1 Billion in 2020 and market is set to grow USD 7.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 9.0% during the prediction period 2021 to 2027.
The global Embolotherapy market gathered revenue around USD 2.1 Billion in 2020 and market is set to grow USD 7.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 9.0% during the prediction period 2021 to 2027.
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escalating prevalence of chronic and lifestyle-associated diseases, increasing healthcare expenditure, and improving healthcare infrastructure are some of the major factors driving the growth of the market.
COVID-19 has spread to almost every country, due to which the number of infected patients is rising, which is straining the countries’ healthcare ecosystem and resources. This is mainly on account of the intensifying demand for healthcare facilities, workers, and, most importantly, medical equipment, devices, drugs, and research studies. To deal with the pandemic, significant changes were made to surgical practice around the world. Furthermore, many general guidelines were released to establish case classification criteria in order to differentiate between elective surgeries that can be postponed and urgent procedures that require immediate intervention. This led to the shutting down of most of the surgical departments in hospitals, which led to a reduced use of products associated with embolotherapy. This posed negative impact on the embolotherapy industry.
Embolic Agents Lead Market due to Their Higher Adoption in Interventional Radiology Procedures
Embolic agents dominated the embolotherapy market in 2020, based on product. The increasing use of embolic agents in various interventional radiology procedures is the primary reason for this product category's dominance on the market. Furthermore, due to the advancements in such agents, such as calibrated microspheres for bland embolization, drug-eluting microspheres, and radioactive yttrium-90 (Y-90) microspheres, for treating primary or secondary liver disease, the category is expected to grow at the higher rate over the forecast period (2021–2030).
TAE To Witness Fastest Growth due to Its Higher Adoption over other Procedures
In the embolotherapy market, transcatheter arterial embolization (TAE) is expected to be the fastest-growing category during the forecast period, based on procedure. This is attributed to the proliferating demand for minimally invasive procedures and rapidly growing geriatric population. Moreover, TAE is effective and well-tolerated in patients with ruptured hepatocellular carcinoma (HCC), and it is preferred over transarterial chemoembolization (TACE) and transarterial radioembolization (TARE)/ selective internal radiation therapy (SIRT).
North America Dominated Market due to Its Strong Healthcare Ecosystem
North America dominated the market for embolotherapy in 2020, and it is expected to hold the largest market share during the forecast period as well. The increasing prevalence of indications that require embolization procedures, established healthcare ecosystem, and development of advanced embolic agents by the players operating in the region are some of the major reasons for the growth of the North American market.
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Product Approvals and Launches Key Market Trends
Over the past few years, key players in the embolotherapy market have been focusing on the commercialization of new products for embolization. For instance, in December 2020, Terumo Medical Corporation introduced the first intrasaccular flow disruptor device in the Japanese market, under the brand name Woven EndoBridge (WEB) Embolization System, for the treatment of brain aneurysms. Moreover, in September 2019, Merit Medical Systems Inc. launched Torpedo, a proprietary gelatin foam loaded into a cartridge with an optional blunt stylet, for the smooth delivery of Torpedo to the target vasculature via a syringe.
Some of the prominent players in the Embolotherapy market include:
Boston Medical Corporation , Terumo Medical Systems , Medtronic , Johnson & Johnson , and Stryker Corporation, Sirtex Medical Limited , Abbott Laboratories , Acandis GmbH , Balt , Cook Medical , Kaneka Corporation , Penumbra, Inc. , Merit Medical Systems , Meril Life Sciences Pvt. Ltd. , Cardiva among others.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Embolotherapy market, by Product
- Embolization Coil
- Detachable Coils
- Pushable Coils
- Embolic Agents
- Liquid Embolic Agents
- Microspheres
- Detachable Balloons
- Embolic Plug Systems
- Support Devices
- Guidewires
- Microcatheters
Global Embolotherapy market, by Application
- Oncology
- Liver Cancer
- Kidney Cancer
- Lung Cancer
- Breast Cancer
- Other Cancers
- Peripheral Vascular Diseases
- Urology and Nephrology
- Benign Prostatic Hyperplasia
- Uterine Fibroids
- Other Urology and Nephrology Applications
- Neurology
- Brain Aneurysm
- Cerebral Arteriovenous Malformations
- GIT Disorders
Global Embolotherapy market, by Procedure
- Transcatheter Arterial Embolization
- Transcatheter Arterial Radioembolization/Selective Internal Radiation Therapy
- Transarterial Chemoembolization
Global Embolotherapy market, by End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Other End Users
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Embolotherapy industry analysis from 2022 to 2030 to identify the prevailing Embolotherapy industry opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global Embolotherapy industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Embolotherapy industry trends, key players, market segments, application areas, and market growth strategies.
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