Status : Published Published On : Nov, 2019 Report Code : VRHC1210 Industry : Healthcare Available Format : Page : 371

Global Embolotherapy Market - Analysis and Forecast (2019-2024)

Industry Insights by Product (Embolic Agents [Microspheres, Embolic coils, Liquid embolic agents, Embolic plug systems, Detachable balloons], Support Devices [Microcatheters, Guidewires]), by Procedure (Transcatheter Arterial Embolization [TAE], Transarterial Radioembolization/Selective Internal Radiation Therapy [TARE/SIRT], Transarterial Chemoembolization [TACE]), by Indication (Cancer [Liver, Kidney, Others], Neurological Diseases [Cerebral aneurysm, Arteriovenous malformation and fistulas], Peripheral Vascular Diseases, Urological & Nephrological Disorders, Gastrointestinal Disorders), by End User (Hospitals & Clinics, Ambulatory Surgical Centers [ASCs], Others)

Industry Overview

The global embolotherapy market was valued at USD 3,200.0 million in 2018. The market is growing significantly due to the extensive incidences of liver cancer, uterine fibroids, vascular diseases, strokes along with technological progressions being undertaken in this market. Furthermore, increasing preference pertaining to nominally invasive processes and excessive funds, grants and investments availed to key players by public-private enterprises for research are another factors that are bolstering the growth of global embolotherapy market at a significant rate.

Embolotherapy Market Highlights

Embolotherapy is a form of endovascular treatment that intends to obstruct abnormal blood vessels for controlling bleeding, devascularise organs, arteriovenous malformations and close fistulae. Furthermore, embolotherapy is performing crucial role in medicine domain that aims at the accomplishment of occlusion and utilises various embolic agents and minimally invasive techniques for instance coils, gelfoam, angiographic, balloons and catheters. This technique helps in treating wide range of problems and utilises varies therapies such as UFE, TACE and venous embolisation for the treatment of arthritis embolization and haemorrhoid and is further witnessing technological progressions that is contributing towards rampant growth of global embolotherapy market.

Market Segmentation

Insight by Product

On the basis of product, the global embolotherapy market is categorised into embolic agents, and support devices, wherein embolic agents category held the larger share in the market in 2018, owing to the evolution of advanced embolic agents, such as calibrated microspheres for bland embolization, and radioactive Y-90 microspheres to treat primary or secondary liver diseases.

Embolic agents are further categorized into microspheres, embolic coils, liquid embolic agents, embolic plug systems, and detachable balloons.

Support devices category is also further segmented into microcatheters and guidewires.

Insight by Procedure

On the basis of procedure, the global embolotherapy market is categorised into TAE (transcatheter arterial embolization), TACE (transarterial chemoembolization) and TARE/SIRT (transarterial radioembolization/selective internal radiation therapy). Amongst these segments, TAE segment is anticipated to generate largest revenue throughout the estimated period as transarterial embolization is used for treating kidney cancer, neuroendocrine tumors and liver cancer and is further utilised for the treatment of aneurysyms, uterine fibroids and various such diseases and are commonly being known as TAE or arterial embolization and is performing vital role in strengthening the growth of the global embolotherapy market at rapid pace.

Insight by Indication

Based on indication, the global embolotherapy market is segmented into cancer, neurological diseases, peripheral vascular diseases, urological & nephrological disorders, and gastrointestinal disorders, wherein cancer category held the largest share in the market in 2018, owing to the rising prevalence of cancer, especially kidney and liver cancers.

Cancer category is further segmented into the liver, kidney, and others.

Neurological diseases are further segmented into cerebral aneurysm, and arteriovenous malformation and fistulas.

Insight by End User

Based on end user, the global embolotherapy market is segmented into ambulatory surgical centers (ASCs), hospitals and clinics, and others. Amongst these segments, hospitals and clinics are dominating in terms of revenue throughout the estimated period owing to extensive accessibility of reimbursements policies being implemented by hospitals and clinics and excessive adoption of these devices in small clinics, big hospitals and critical care units.

Industry Dynamics

Growth Drivers

Increasing target population of patient along with extensive preference of patients for minimally invasive techniques are the key factors that are driving the growth of global embolotherapy market. Several patients across the globe require embolotherapy processes for treating several diseases for instance liver cancer tumors, kidney cancer, hepatocellular, renal cell carcinoma, aneurysms and varicose veins. Moreover, embolotherapy has wider usage in clinical settings such as in the treatment of non-trauma related vascular disorders and treatment of inflammation that is significantly contributing towards the growth of the global embolotherapy market.

Furthermore, improving healthcare infrastructure along with increasing expenditure on healthcare domain are other factors that are driving the growth of global embolotherapy market. Additionally, increasing burden of target diseases, grants and funds for the growth of novel offerings are other factors pertaining towards the growth of global embolotherapy market. Furthermore, excessive demand for minimally invasive surgery procedures, favourable reimbursement scenario and new product launches are further anticipated to strengthen the growth of global embolotherapy market.

Furthermore, increasing adoption of minimally invasive surgical processes such as neurological, vascular and urological and existence of consolidated market structure amongst healthcare providers along with their increasing purchasing power are the key factors that are pertaining towards the growth of global embolotherapy market.

Restraints

Challenges and risks related with embolization is the key factor that is anticipated to hamper the growth of the global embolotherapy market.

Geography Insight

North America has accounted for the largest share in embolotherapy market, globally and is predicted to grow significantly during the forecast period, owing to the increasing emphasis in the region towards development of advanced embolic agents, extensive pervasiveness of incidents that necessitates adoption of embolization processes. Moreover, established healthcare system in this region is the key factor that is further anticipated to drive the growth of embolotherapy market in this region.

Moreover, embolotherapy market in Asia-Pacific is anticipated to witness fastest growth during the forecast period owing to the increasing number of patient’s population, increasing emphasis by the government authorities in the region towards healthcare expenditure and rapid incidences of cancer among individuals. Additionally, presence of key players emphasizing upon technological advancements are the key factors that are pertaining towards the growth of embolotherapy market in this region.

Competitive Insight

The eminent key players in the global embolotherapy market are undertaking considerable investment decisions and launching new products in order gain competitive advantage. Moreover, entering into partnership agreements and performing mergers & acquisitions are the key development strategies being implemented by the crucial players in the global embolotherapy market.

Some of the players having prominent presence in the global embolotherapy market include Merit Medical Systems, Acandis GmbH, Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Cook Medical, Terumo Corporation, Stryker Corporation, Johnson & Johnson, BALT Extrusion, Sirtex Medical Limited, Kaneka Corporation, Meril Life Sciences Pvt. Ltd., Penumbra, Inc., and BTG Plc.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising of consumers are also conducted to understand consumer behavior.

Embolotherapy Market Size

Source: VynZ Research

Embolotherapy Market Analysis

Source: VynZ Research

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Embolotherapy Market