New York, Global Embolotherapy Market was valued at USD 3.8 billion in 2021 and it is anticipated to grow up to USD 7.7 billion by 2031, at a CAGR of 7.3% during the forecast period.
The global Embolotherapy market report from Global Insight Services is the single authoritative source of intelligence on Embolotherapy Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Embolotherapy is the process of obstructing arteries with a device (such as a balloon catheter) in order to treat or stop uncontrollable bleeding. Utilizing this technique, tumors are reduced, and bleeding is controlled. It is an endovascular procedure that attempts to stop bleeding by restricting aberrant blood arteries. Embolotherapy is mostly used to treat cervical uprooted pregnancy, postpartum situations, and pelvic tract hemorrhage.
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Market Drivers and Trends
Because more target procedures are being performed on more target patients, the market for embolotherapy devices has been rising steadily over the past ten years. CVD is a major target illness, and research on successful and efficient treatments has focused on it because of its significance and high prevalence. Globally, more than 200 million people have peripheral vascular disorders as of 2017. The prevalence of these disorders increases with age, with the over-80 age group showing a prevalence rate of more than 20%.
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Global Embolotherapy Market Segmental Overview
The report analyses the global embolotherapy market based on product, application, procedure, end user, and region.
Global Embolotherapy Market by Product
Based on product, it is segmented into embolization coil, embolic agents, detachable balloons, embolic plug systems, and support devices. The embolic agents segment is likely to dominate the market during the forecast period. The market growth of this segment is primarily driven by the surge in the prevalence of hepatocellular carcinoma combined with favorable reimbursement criteria in developed economies. Likewise, new product launches and approvals are further boosting the growth of the market.
Global Embolotherapy Market by Application
Based on application, it is segmented into cancer, peripheral vascular diseases, neurological diseases, urological & nephrological disorders, and gastrointestinal disorders. The cancer segment is likely to hold the major share of the market. The growing incidences of liver cancer & kidney cancer coupled with the respective adoption of TACE and TARE procedures are boosting the growth of the market.
Global Embolotherapy Market by Procedure
Based on procedure, it is segmented into transcatheter arterial embolization, transcatheter arterial chemoembolization, and transcatheter arterial radioembolization/selective internal radiation therapy. The transcatheter arterial embolization segment is likely to dominate the market during the forecast period. The key factors such as increasing demand for minimally invasive procedures coupled with growing prevalence of chronic diseases and rapid growth in the geriatric population are boosting the growth of the market.
Global Embolotherapy Market by End User
Based on end user, it is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals and clinics segment is likely to dominate the market during the forecast period. The key factors such as growing adoption of minimally invasive surgical procedures (including vascular, urological, and neurological), increasing purchasing power of major healthcare providers across developed countries (owing to the consolidation of healthcare providers), and the greater availability of reimbursements for target procedures in the US and major European countries are the major factors that are expected to drive the demand for embolization devices in hospitals and clinics.
Geographical Analysis of Global Embolotherapy Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to hold the majority of the market share during the forecast period. Improving healthcare infrastructure in the region, the large patient population for target diseases, and expanding presence of key market players in the region to grab elevating opportunities offered by these countries are the key factors supporting the market growth in this region.
Major Players in the Global Embolotherapy Market
The key players studied in the global embolotherapy market are Boston Scientific Corporation (US), Merit Medical Systems (US), Terumo Corporation (Japan), Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), BTG plc (UK), Penumbra, Inc. (US), Cook Medical (US), Abbott Laboratories (US), Acandis GmbH (Germany), BALT Extrusion (France), Sirtex Medical Limited (Australia), Kaneka Corporation (Japan), and Meril Life Sciences Pvt. Ltd. (India).
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