The 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.
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%.
Market Restraints and Challenges
The availability of efficient first-level conventional medicines for the management of hemorrhagic disorders such as liver cancer, uterine fibroids, hemorrhagic stroke, and other hemorrhagic conditions is a major market growth inhibitor. For example, therapies like surgery, chemotherapy, and radiation therapy are preferred options in the treatment of cancer due to the high awareness of conventional cancer treatments among the general public, the low adoption of advanced treatment options (especially in developing countries), and the reluctance of oncologists to use alternative therapies.
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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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