The Global Embolotherapy Market size reached USD 3.50 Billion in 2020 and is expected to register a revenue CAGR of 9.3%, during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of chronic diseases such as cancer, peripheral artery disease, and neurological disorders among others is a key factor driving global embolotherapy market revenue growth. Steady transition towards minimally invasive procedures from invasive open surgical procedures is expected to continue to drive revenue growth of the global embolotherapy market.
Increasing demand for image-guided minimally invasive interventions have not only broadened the scope of vascular pathologies that can be treated, but has also resulted in reduction of post-operative morbidity compared to open surgical techniques.
Embolization is an advanced form of treatment option whereby tiny equipment is used to navigate the body’s vasculature without the need for using wound incision or open surgery. This enables reduced complication rates, increases success rate, and improves quality of life of patients.
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Rapid development of more advanced drug delivery systems such as drug-eluting beads is enabling radiologists to control drug release to tumors with reduced systemic drug exposure. This has also led to the development of new endovascular treatment procedures such as Drug-Elating Bead Transarterial Chemoembolization (DEB-TACE) procedure. The new procedure is based on the use of microspheres which release chemotherapeutic agents to targeted lesions with controlled amount of pharmacoketinics, thereby significantly improving clinical outcomes and reducing side-effects of embolotherapy treatment procedure. These and further advancements in the field are is expected to boost revenue growth of global embolotherapy market going ahead.
However, availability of conventional first-level therapies is a major factor expected to hamper global embolotherapy market growth to some extent during the forecast period.
The key industry participants include:
- Abbott Laboratories
- Boston Scientific Corporation
- Medtronic PLC
- Terumo Medical Corporation
- Penumbra Inc
- Johnson & Johnson
- Merit Medical Systems Inc
- Cook Medical Inc
- Kaneka Corporation
- Stryker Corporation
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Some Key Highlights from the Report:
- Embolic agents segment is expected to account for largest revenue share over the forecast period due to increasing use of calibrated microscopes, biodegradable microspherical embolic agents and increasing development of next generation liquid embolics for facilitating treatment of a variety of pathological disease.
- Transcatheter arterial radioembolization segment revenue is expected to expand at a rapid CAGR over the forecast period owing to rising popularity of this therapeutic modality for effectively treating both primary and secondary hepatobilary disease and increasing investment to develop next generation radioembolic devices to improve clinical outcomes.
- Ambulatory surgical segment is expected to register a significantly robust CAGR in terms of revenue over the forecast period due to increasing preference for outpatient surgical procedures, increasing patient admissions in these facilities, availability of reimbursement, and increasing number of embolotherapy surgical procedures performed at these facilities.
- North America is expected to account largest revenue share over the forecast period due to rising number of clinical trials for assessing safety and efficacy of embolization in a wide range of applications and increasing use of Drug-Elating Bead Transarterial Chemoembolization (DEB-TACE)
- Cancer segment is expected to account for largest revenue share over the forecast period owing to rising prevalence of liver cancer and increasing number of transarterial chemoembolization procedures performed for controlling tumor growth and destroying cancer cells and providing quality care to patients suffering with liver cancer.
- In January 2021, MicroVention Inc., which is a subsidiary of Terumo Medical Corporation, announced that U.S. Food & Drug Administration (FDA) has granted Premarket Approval (PMA) for WEB 17 system. The new technology is the newest addition to the WEB Aneurysm Embolization System for the treatment of intracranial wide neck bifurcation aneurysms.
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Emergen Research has segmented the global embolotherapy market on the basis of product, procedure, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
- Embolic Agents
- Liquid Embolic Agents
- Embolization Coils
- Detachable Coils
- Pushable Coils
- Detachable Balloons
- Embolic Plug Systems
- Support Devices
Procedure Outlook (Revenue, USD Billion; 2018–2028)
- Transcatheter Arterial Embolization
- Transcatheter Arterial Radioembolization
- Transcatheter Chemoembolization
Application Outlook (Revenue, USD Billion; 2018–2028)
- Peripheral Vascular Disease
- Neurological Disease
- Urological & Nephrological Disorders
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Objectives of the Global Embolotherapy Market Report:
- An all-inclusive analysis and forecast estimation of the market have been included in this report.
- The report offers valuable insights into the major drivers, limitations, opportunities, and challenges faced by the global Embolotherapy market and its leading players.
- The report sheds light on the prominent market contenders, as well as their business strategies and long-term expansion plans.
The report, additionally, presents a comprehensive analysis of the key elements of the Embolotherapy market that influence its growth over the projected timeline. These vital elements include the key drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The authors of the report have implemented a set of analytical tools, such as SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis, to offer strategic recommendations to the new entrants on how to overcome the entry-level barriers.
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