Rising healthcare expenditure and increasing application of embolization devices to drive global embolotherapy market
According to TechSci Research report, “Global Embolotherapy Market By Indication (Cancer, Gastrointestinal Disorders, Neurological Diseases, Peripheral Vascular Disease, Urological & Nephrological Disorders), By Product (Embolic Agents, Support Devices), By Type (Chemoembolization, Radioembolization, Arterial embolization, Combination), By End-User (Hospitals, Clinics, Ambulatory Surgical Centers, Others), By Region, Forecast & Opportunities, 2025”, the global embolotherapy market is expected to witness substantial growth during the forecast period owing to factors like technological advancements & developments in embolotherapy devices, adoption of embolic procedures for management of various diseases and surge in target patient population. Furthermore, rising incidences of peripheral vascular diseases globally and increasing investments, funding and grants by both public and private organizations for research and technological advancements are further expected to propel embolotherapy market through 2025. Patients are also now preferring for minimally invasive procedures, which is anticipated to drive market growth until 2025. Additionally, in some countries, there are favorable repayment policies for the minimally invasive surgeries, which is serving as a major driving factor for embolotherapy market growth. Moreover, world is witnessing significant rise in cases of hepatocellular cancer and liver cancer. This is further expected to fuel the demand for embolotherapy, which is one of the effective ways of treating cancer.
However, availability of alternate therapies in the market and strict regulations for product commercialization might restrict the growth of embolotherapy market.
Browse XX market data Tables and XX Figures spread through XXX Pages and an in-depth TOC on“Global Embolotherapy Market”
The global embolotherapy market is segmented based on indication, product, type, end-user and region. Based on indication, the market is segmented into cancer, gastrointestinal disorders, neurological diseases, peripheral vascular disease, urological & nephrological disorders. Among them, the cancer segment dominated the market in 2019 and is predicted to hold its dominance during the forecast years owing to rising prevalence of the disorders like kidney and liver cancers and adoption of TACE and TARE procedures globally. Based on product, the market is segmented into embolic agents and support devices. The embolic agents segment is further divided into embolic coils, embolic plug systems, liquid embolic agents, microspheres, and detachable balloons. The support devices segment is further segmented into microcatheters and guidewires. Among these, the embolic agents segment, particularly microspheres embolic agents category is anticipated to witness rapid growth compared to support devices. This can be ascribed to surge in the prevalence of hepatocellular carcinoma and favorable reimbursement criteria in developed economies. Based on type, the global embolotherapy market is segmented into chemoembolization, radioembolization, arterial embolization and combination. The arterial embolization segment is expected to undergo fastest growth as it has a better toxicity profile than chemoembolization, radioembolization and combination therapy procedures.
Major players operating in the global embolotherapy market include Abbott Laboratories , ABK Biomedical Inc, Acandis GmbH, AngioDynamics Inc, Becton Dickinson and Company, Boston Scientific Corporation, Cook Medical, Guerbet, Imbiotechnologies Ltd., Johnson & Johnson, Kaneka Corporation, Medtronic, Meril Life Sciences Pvt. Ltd., Merit Medical Systems, Inc., Penumbra, Inc., Simbionix USA Corporation, Sirtex Medical Limited, Stryker Corporation, Terumo Corporation and others. The market players are adopting strategies like product launches and enhancements, partnerships, and strategic acquisitions to strengthen their product portfolios and create their monopoly in the global embolotherapy market. Moreover, partnership agreements and mergers & acquisitions are some other widely adopted growth strategies by market players.
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“Growing adoption of minimally invasive surgical procedures including vascular, urological, and neurological are leading to high growth in embolotherapy market. Additionally, most of the developed nations are focusing on development of advanced embolic agents, extensive pervasiveness of incidents that necessitates adoption of embolization processes and hence, these economies serve as the largest market for embolotherapy companies. Also, availability of large number of products for embolotherapy is acting as one of the major driving factors for the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Embolotherapy Market By Indication (Cancer, Gastrointestinal Disorders, Neurological Diseases, Peripheral Vascular Disease, Urological & Nephrological Disorders), By Product (Embolic Agents, Support Devices), By Type (Chemoembolization, Radioembolization, Arterial embolization, Combination), By End-User (Hospitals, Clinics, Ambulatory Surgical Centers, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of embolotherapy market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global embolotherapy market.
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