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Embolotherapy Market By Product, Procedure, Indication, End-User and Growth Forecast to 2030

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Embolotherapy Market By Product, Procedure, Indication, End-User and Growth Forecast to 2030

November 17
11:53 2021
North America led the global embolotherapy industry in 2020 owing to the rising number of technological advancements, strong healthcare ecosystem, surging geriatric population, and increasing prevalence of chronic diseases.

With the surging population of patients seeking treatment for renal cell carcinoma (RCC), aneurysms, varicose veins, and hepatocellular carcinoma (HCC), the demand for embolotherapy is rising sharply across the world. As per the Centers for Disease Control and Prevention (CDC), aortic aneurysms claimed the lives of 9,923 people in the U.S. in 2018. This showed that the medical needs for these procedures were unmet in the country. Besides, the growing incidence of lifestyle-associated and chronic diseases is also positively impacting the worldwide demand for embolotherapy.

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Lifestyle behaviors, such as unhealthy eating habits, consumption of alcohol, smoking, and lack of physical activity, causes chronic illnesses, such as diabetes, stroke, metabolic syndrome, several types of cancer, and chronic obstructive pulmonary disease. These diseases are rapidly becoming a major healthcare burden for both low- and middle-income countries (LMICs) and high-income countries. Central nervous system disorders, hepatitis, and cancer are some of the chronic ailments that need advanced treatment procedures.

Apart from the above-mentioned factors, the booming medical tourism sector is also fueling the expansion of the global embolotherapy market, as a result of which, the market revenue is predicted to surge from $3,082.9 million in 2020 to $6,447.1 million by 2030, demonstrating a CAGR of 7.7% from 2020 to 2030. Between embolic agents and support devices, the demand for the former was found to be higher during the last few years, on account of their extensive use in several interventional radiology procedures.

Further, the development of advanced embolic agents, such as calibrated microspheres for bland embolization, radioactive yttrium-90 (Y-90) microspheres, and drug-eluting microspheres for treating primary or secondary live disease, is expected to propel their popularity globally in the coming years. Transarterial chemoembolization (TACE), transarterial radioembolization (TARE)/selective internal radiation therapy (SIRT), and transcatheter arterial embolization (TAE) are the major embolization procedures. Amongst these, the requirement for the TAE procedure was observed to be the highest in the years gone by, and its demand is expected to surge sharply in the coming years as well.

Browse detailed report on Global Embolotherapy Market Growth Analysis, Opportunities, Trends and Forecast to 2030

This will be because this procedure is highly effective for treating patients who suffer from ruptured HCC. Geographically, North America was the largest embolotherapy market in the past and this trend will continue in the forthcoming years as well, as per the estimates of the market research company, P&S Intelligence. This is ascribed to the growing incidence of indications that need embolization procedures, presence of a well-established healthcare sector, and the launch of advanced embolic agents by various market players in the region.

The players operating in the embolotherapy market are focusing on regulatory approvals and product launches for gaining an edge over their rivals and bolstering their position. For instance, Cook Medical LLC developed the 2.6 Fr CXI support catheter for super-selective anatomy or small-vessel anatomy for interventional and diagnostic procedures. Similarly, Terumo Europe announced in January 2019 that its product QuiremScout has received the CE mark, which subsequently made the product available all over Europe.

Hence, it can be safely said that the demand for embolotherapy will soar in the coming years, mainly because of the rising incidence of lifestyle-associated and chronic diseases and the mushrooming population of geriatric people across the globe.

Market Size Breakdown by Segment

By Product

  • Embolic Agents
    • Microspheres
    • Embolic coils
    • Liquid embolic agents
    • Embolic plug systems
    • Detachable balloons
  • Support Devices
    • Microcatheters
    • Guidewires

By Procedure

  • Transcatheter Arterial Embolization (TAE)
  • Transarterial Radioembolization (TARE)/Selective Internal Radiation Therapy (SIRT)
  • Transarterial Chemoembolization (TACE)

By Indication

  • Cancer
    • Kidney
    • Liver
    • Others
  • Peripheral Vascular Diseases
  • Neurological Diseases
    • Cerebral aneurysms
    • Arteriovenous malformations & fistulas
  • Urological & Nephrological Disorders
  • Gastrointestinal Disorders

By End User

  • Hospitals & Clinics
  • Ambulatory Surgical Centers (ASCs)

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    •  France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    •  Singapore
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa

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Website: https://www.psmarketresearch.com/market-analysis/embolotherapy-market