The global embolotherapy market was valued at $3.0 billion in 2018, and is projected to reach $4.8 billion by 2024, progressing at a CAGR of 8.0% during the forecast period (2019–2024). Based on types of product available in the market, embolic agents will lead the market throughout the forecast period. The category is expected to occupy the larger share in the market. The growing adoption of embolic agents for various interventional radiology procedures is a key factor for the dominant position of this category.
Embolotherapy Market is Likely to Witness Significant Growth due to the Increasing Patient Pool
Globally, the adoption of embolic procedures for the management of various diseases is increasing, owing to the rising healthcare spending and increasing patient pool. Furthermore, most of the patients who are diagnosed at intermediate stage and advanced stage, do not respond to curative therapies, such as ablation, surgical resection, and liver transplantation. Thus, increasing pool of patients, at an advanced stage of various life-threatening diseases, which require embolotherapy intervention, is a key driver supporting the growth of the embolotherapy market.
Segmentation Analysis of Embolotherapy Market
Geographical Analysis of Embolotherapy Market
Globally, the North American embolotherapy market is expected to hold around 40% share by 2024. This can be mainly attributed to the rising cases of chronic diseases and increasing geriatric population.
In North America, the U.S. is experiencing a demographic shift, with the increasing number of citizens aged 65 years and above. The 65 years and older age group’s share in the total population is projected to rise to nearly 24% (98 million) by 2060 from 15% (46 million) in 2016. Hence, increasing the number of patients for embolotherapy will drive the regional market.
Europe, APAC, LATAM, and Middle East and Africa are the other regions, which hold considerable shares in the embolotherapy market, on account of rising prevalence of cancer, and peripheral vascular and neurological diseases in these regions.
Competitive Landscape of Embolotherapy Market
Manufacturers in the embolotherapy market are involved in product launches to increase their shares. For instance, in 2018, Medtronic Plc launched OptiSphere embolization spheres in the U.S., as well as Concerto 3D detachable coil system in Ireland.
Stryker Corporation, Terumo Corporation, Sirtex Medical Limited, Merit Medical Systems, Meril Life Sciences Pvt. Ltd., Kaneka Corporation, Johnson and Johnson, Cook Medical Inc., Boston Scientific Corporation, BTG Plc, Balt Extrusion, and Acandis GmbH and Medtronic Plc are some of the major players operating in the global embolotherapy industry.
Browse report overview with detailed TOC on "Embolotherapy Market Research Report: By Product (Embolic Agents, Support Devices), Procedure (Transcatheter Arterial Embolization, Transarterial Radioembolization/Selective Internal Radiation Therapy, Transarterial Chemoembolization), Indication (Cancer, Peripheral Vascular Diseases, Neurological Diseases, Urological and Nephrological Disorders, Gastrointestinal Disorders), End-User (Hospitals and Clinics, ASCs), Geographical Outlook (U.S., Canada, Germany, France, U.K., Italy, Spain, China, Japan, India, South Korea, Singapore, Brazil, Mexico, Saudi Arabia, South Africa) – Global Industry Analysis and Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/embolotherapy-market
Embolotherapy Market Segmentation
Market Segmentation by Product
Market Segmentation by Procedure
Market Segmentation by Indication
Market Segmentation by End User
Market Segmentation by Region