New York, Aug. 24, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Embolotherapy Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Disease Indication, Procedure, and End User," Rising incidence of cancer cases and rising patient preference for minimally invasive procedures drive the market growth. However, the availability of other alternative therapies and the high cost of embolization agents hampers the embolotherapy market growth.
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| Report Coverage | Details |
| Market Size Value in | US$ 3.34149 Billion in 2021 |
| Market Size Value by | US$ 5.75828 Billion by 2028 |
| Growth rate | CAGR of 8.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 255 |
| No. Tables | 192 |
| No. of Charts & Figures | 92 |
| Historical data available | Yes |
| Segments covered | Product, Disease Indication, Procedure, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Embolotherapy Market: Competitive Landscape and Key Developments
Abbott Laboratories, Boston Scientific Corporation, Cook Medical LLC, Johnson & Johnson Consumer Inc., Medtronic, Acandis GmbH, Terumo Corporation, Balt USA LLC, Stryker Corporation, and Guerbet LLC are among the leading companies operating in the embolotherapy market.
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Embolotherapy Market: Key Insights – Future Trends
Among various types of embolic agents used, liquid embolic agents are gaining increasing attention owing to their advantages in distal infiltration, which solid embolic agents cannot reach, enabling more extensive embolization. Liquid formulations have a well-established role in the therapeutic embolization of blood vessels with the widespread use of cyanoacrylate glues, precipitating polymer suspensions, sclerosing agents, and viscous emulsions of oil and chemotherapeutic agents—the emerging market for next-generation liquid embolic aims to address a few shortcomings of the currently used products. There are currently two main liquid agents used for embolization procedures in the clinic in South Africa; ethylene-vinyl alcohol (EVA) copolymer solution (such as Onyx and Medtronic) and iodinated poppy seed oil (such as Lipiodol and Guerbet).
Prominent players are constantly focusing on maintaining their leadership position in the market by continuously introducing new products and improving the existing products to broaden the use of embolotherapy techniques. For instance, in July 2021, Terumo Medical Corporation announced the launch of its AZUR Vascular Plug, the first and only plug compatible with a microcatheter to occlude arteries up to 8mm in diameter. The newest addition to Terumo's robust embolization portfolio is indicated for use to reduce or block the rate of blood flow in arteries of the peripheral vasculature. In March 2022, Guerbet announced that it would double its line of microcatheters and launch a new line of guidewires to offer a broad range of interventional imaging and embolization solutions. SeQure by Guerbet is the only reflux control microcatheter enabling a fluid barrier technology for flow-directed embolization. Therefore, the use of liquid embolic is likely to introduce new trends in the embolothreapy market.
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In North America, the US holds a significant share of the embolotherapy market. Rising cases of brain aneurysms primarily drive the market growth in the US. According to the Brain Aneurysm Foundation’s report, approximately 6 million people have unruptured brain aneurysms in the US.
Moreover, in South Africa, the embolotherapy market is primarily driven by high incidences of cancer and other chronic diseases. It is estimated that in 2020, almost 110,000 new cancer cases were diagnosed in South Africa, with more than 56,000 cancer-related deaths in the country. The cancer burden is estimated to increase in the future, with the incidence of new cancer cases expected to reach 138,000 and 175,000 in 2030 and 2040, respectively. Thus, increasing incidences of chronic diseases increase the demand for embolization, as embolotherapy helps cut the tumor from the blood supply, essentially starving it of nutrients, rapidly becoming a preferred treatment for cancer and chronic diseases.
The embolotherapy market players are adopting various organic and inorganic strategies for market development. For instance, in July 2021, Terumo Medical Corporation launched AZUR Vascular Plug, the first and only plug compatible with a microcatheter to occlude arteries up to 8mm in diameter. The newest addition to Terumo's robust embolization portfolio is indicated for use to reduce or block the rate of blood flow in arteries of the peripheral vasculature.
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Embolotherapy Market: Segmental Overview
Based on end user, the embolotherapy market is segmented into hospital & clinic, ambulatory surgical center, and other end user. In 2021, the hospitals and clinics segment held the largest market share and is anticipated to register the highest CAGR in the market during the forecast period. The segment holds a major market share owing to the adoption of advanced technology in hospitals and the increasing number of surgeries in hospital settings. Moreover, the growing adoption of minimally invasive surgical procedures (including vascular, urological, and neurological), higher patient footfall in hospitals for the treatment of various diseases such as cancer, an increasing number of embolization procedures performed in these facilities, and growing adoption of advance and cutting-edge embolotherapy devices to perform complex procedures are fueling the demand for embolotherpay devices in hospital and clinic.
Companies operating in the embolotherapy market implement various organic developments that lead to dynamic improvements in the market. Various organic growth strategies such as product launch and product development propel the market growth. Several companies are implementing numerous inorganic strategies, such as partnerships and mergers and acquisitions.
In March 2021, Boston Scientific Corporation received US Food and Drug Administration (FDA) approval for TheraSphere Y-90 Glass Microspheres. It is developed to treat patients suffering from hepatocellular carcinoma (HCC). HCC is mostly treated through surgery, liver transplantation, chemotherapy, or embolization, including chemoembolization and radioembolization, also called selective internal radiation therapy (SIRT). TheraSphere treatment is delivered directly to liver tumors via catheter and results in minimal exposure to surrounding healthy tissue.
In July 2019, Varian signed an asset purchase agreement to acquire the Boston Scientific portfolio of drug-loadable microsphere and bland embolic bead products for treating arteriovenous malformations and hypervascular tumors. The acquisition helped to expand Varian's embolic bead offering.
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