Embolotherapy Market: Overview
The global embolotherapy market is currently valued at US$ 3,545.56 Million in 2022 and is anticipated to expand at a CAGR of 8.4% to reach US$ 7,942.8 Million by 2032. Embolotherapy is a minimally invasive surgical technique used to stop and manage bleeding. In order to cure bleeding ulcers and blood vessel problems, embolotherapy is a surgical treatment in which the arteries are stopped by inserting coils, balloons, and other devices. The rising incidence of hepatocellular cancer and liver cancer, along with the leading manufacturers' increased attention on technological breakthroughs, will drive up demand for embolotherapy. The market value for embolotherapy will expand as a result of rising infrastructure construction costs and improved research and development capabilities to advance healthcare technology. Other factors influencing market expansion include rising personal disposable income and rising patient desire for minimally invasive procedures.
Embolotherapy Market - Growth Factors
Due to the rising incidence of cancer and the increased focus of the major players on technical breakthroughs, the market is anticipated to rise. The embolotherapy market is anticipated to increase over the course of the forecast period as a result of rising investments in the construction of healthcare infrastructure, particularly in emerging countries, and rising applications in end-use industries. When treating cancer, internal haemorrhages, aneurysms, and venous disorders, embolization, a minimally invasive endovascular technique, is used to purposefully restrict blood flow in blood vessels. However, the lack of trained workers, particularly in developing nations, would pose a hindrance to the market's expansion during the aforementioned projected period. Alternative medicines with strong market positioning will slow the rate of market expansion. The stringent regulatory framework that must be followed for product approval and commercialization will further stymie market expansion.
Embolotherapy Market Market Trends
Due to the rising prevalence of various types of liver cancer and the rising need for minimally invasive procedures, it is projected that the global market for embolotherapy would see increased demand.
Additionally, it is anticipated that the market for embolotherapy would increase as a result of rising spending to upgrade healthcare infrastructure and expanding R&D for technical developments in the healthcare industry.
The rise in patients with hepatic cell carcinoma (HCC), varicose veins, renal cell carcinoma (RCC), and aneurysms is contributing to an increase in death rates, which is fueling the expansion of the embolotherapy industry.
Embolotherapy Market Segmentation
By Product Type :
o Embolic Agents
Microspheres
Embolic coils
Embolic Plug Systems
Detachable Ballons
Liquid Embolic Agents,
others
o Support Devices
Microcatheters
Guidewires
By Disease Indication :
o Cancer
Liver Cancer
Kidney Cancer
Other Cancer
o Peripheral Vascular Disease
o Peripheral Vascular Disease
o Urological & Nephrological Disorder
o Gastrointestinal Disorder
o others
By Procedure :
o Transcatheter Arterial Embolization (TAE)
o Transcatheter Arterial Radioembolization (TARE)/Selective Internal Radiation Therapy (SIRT)
o Transarterial Chemoembolization (TACE)
By End-user :
o Hospitals& Clinics
o Ambulatory Surgical Centre
o Others
Embolotherapy Regional Analysis
With a CAGR of 8.5%, Europe is predicted to be the second-leading region for the market. Because of the rising prevalence and incidence of cancer, the accessibility of treatment, and the growing awareness of general health, the European market is expected to gradually expand. The market for embolotherapy is anticipated to grow as incidences of cardiovascular illnesses rise in European nations like the U.K., Germany, and Italy. Another important aspect promoting the acceptance of these medicines in the area is well-established payment procedures by commercial and public organisations.
Embolotherapy Market Key Market players
The major players in the market are: Terumo Corporation, Merit Medical Systems, Inc., Simbionix USA Corporation., Cook, Boston Scientific Corporation, Penumbra, Inc., Meril Life Sciences Pvt. Ltd., Medtronic, BTG International Limited, ABK Biomedical, Abbott, AngioDynamics, IMBIOTECHNOLOGIES LTD., Debakey Medlife Private Limited, Heraeus Holding, Guerbet, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and BD among others.
Report scope
Global Embolotherapy Market: Historical Years- 2018-2021
Global Embolotherapy Market: Forecast Years- 2022-2030
Global Embolotherapy Market 2022- of US$ 3,545.56 Million
Global Embolotherapy Market CAGR- 8.4%
