Newark, Oct. 17, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global Embolotherapy market is expected to grow from USD 3,341 Million in 2022 to USD 6,657 Million by 2030, at a CAGR of 9% during the forecast period 2022-2030.
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The medical community is continuously looking for ways to treat cancer and stop the growth of tumours, though. This element has been crucial in driving demand in the global embolotherapy market. The requirement to adhere to tougher standards for invasive procedures, such as the placement of balloons in arteries, has also impacted market expansion.
Competitive Strategy
To enhance their market position in the global Embolotherapy market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In May 2022: Stryker introduced the EasyFuseDynamic Compression System. It is a foot and ankle staple system that simplifies surgery, offers robust dynamic-compression implants, and cuts down on operating room waste.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2022-2030 |
| Base Year | 2021 |
| Market Size in 2022 | USD 3,341 million |
| Market Size in 2030 | USD 6,657 million |
| CAGR | 9% |
| No. of Pages in Report | 235 |
| Segments Covered | By Product, Disease, End-User, Regions |
| Drivers | Increase prevalence of chronic diseases |
| Opportunities | Need for advancement in oncology |
| Restraints | Stringent regulations |
Market Growth & Trends
Embolotherapy is a sort of endovascular therapy used to treat malignancies, revascularize organs, and manage injuries by obstructing aberrant blood arteries. Vascular occlusion is the medical term for this blood artery obstruction. For embolisation to be successful, three factors must be considered: the embolic agent's choice, clinical application, and technical proficiency. The primary embolic agents employed are stainless steel coils, absorbable gelatin gels and powder, polyvinyl alcohol foam, ethanol, and glues. Both of these agents function at different levels in the vascular system; for instance, coils block medium to small arteries similarly to surgical ligation, whereas liquid agents and particles with smaller diameters block at the level of the arteriolar or capillary bed. Chronic diseases, such as stroke, diabetes, obesity, metabolic syndrome, chronic obstructive pulmonary disease, and different types of cancer, are frequently brought on by extended exposure to four modifiable lifestyle behaviours: smoking, eating poorly, drinking alcohol, and being inactive. Chronic diseases significantly strain healthcare systems in high-income and low- and middle-income countries (LMICs). Chronic illnesses requiring cutting-edge care are cancer, hepatitis, and central nervous system conditions. It can be applied to stop bleeding in different body parts. As a result, the global embolotherapy market is being driven by the rise in the prevalence of chronic diseases and disorders linked to lifestyle.
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Key Findings
• In 2022, the microspheres segment dominated the market with the largest market share of 43% and market revenue of USD 1,436.63 Million.
The product segment is divided into embolic coils, microspheres, guidewires, microcatheters, and others. In 2022. In 2022, the microspheres segment dominated the market with the largest market share of 43% and market revenue of USD 1,436.63 Million. This market segment is primarily driven by an increase in the incidence of hepatocellular carcinoma (microspheres are typically used to treat hepatocellular carcinoma) and more lenient reimbursement standards in advanced economies. Tris-acryl gelatin microspheres, sold under the trade name Embosphere by Biosphere Medical, were the first calibrated microsphere embolic agents (TAGM).
• In 2022, oncology segment dominated the market with the largest market share of 39% and market revenue of USD 1,302.99 Million.
The disease segment is divided into peripheral vascular diseases, oncology, and others. In 2022, oncology segment dominated the market with the largest market share of 39% and market revenue of USD 1,302.99 Million. The explanation is the rising incidence of cancer cases around the world. 24,000 men and 10,000 women are diagnosed with liver cancer each year, and 18,000 men and 9,000 women pass away from it, according to the Centre for Disease Control and Prevention (CDC) estimates.
• In 2022, the hospital segment is expected to grow at the fastest CAGR of 9.8%.
The end-user segment is divided into ambulatory surgical centers and hospitals. In 2022, the hospital segment is expected to grow at the fastest CAGR of 9.8%. This growth is attributed to hospitals which offer the most comprehensive health insurance options, are the most reliable source for medical care, and are increasingly using minimally invasive surgical techniques to address urological, neurological, and vascular conditions.
Regional Segment Analysis of the Embolotherapy Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Embolotherapy industry, with a market share of 37% and a market value of around USD 1,236.17 Million in 2022. One of the main factors driving the expansion of the North American market is the rising frequency of indications that call for embolization procedures, the region's well-established healthcare ecosystem, and the development of advanced embolic agents by players doing business there. The United States government has made significant investments to lower the statistics on cancer cases, which has led to a decrease in cancer cases.
Key players operating in the global Embolotherapy market are:
• Terumo Corporation,
• Simbionix USA Corporation.,
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.,
• Boston Scientific Corporation,
• BTG International Limited,
• Heraeus Holding,
• Debakey Medlife Private Limited,
• Meril Life Sciences Pvt. Ltd.,
• Abbott,
• AngioDynamics,
• IMBIOTECHNOLOGIES LTD.,
• Guerbet
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global Embolotherapy market based on below mentioned segments:
Global Embolotherapy Market by Product:
• Embolic Coils
• Microspheres
• Guidewires
• Microcatheters
• Others
Global Embolotherapy Market by Disease:
• Peripheral Vascular Diseases
• Oncology
• Others
Global Embolotherapy Market by End User:
• Ambulatory Surgical Centers
• Hospitals
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About the report:
The global Embolotherapy market is analysed based on value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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