Embolotherapy Market is Anticipated to Expand and Reach US$ 7.13 Billion by the end of 2028 with 9.3% CAGR

The global embolotherapy market size reached USD 3.50 Billion in 2020 and is expected to register a revenue CAGR of 9.3%, during the forecast period, according to latest analysis by Emergen Research. One of the main factors propelling the expansion of the worldwide embolotherapy market's revenue is the rising prevalence of chronic diseases including cancer, peripheral artery disease, and neurological disorders, among others. The continuous shift away from invasive open surgical procedures and toward minimally invasive techniques is anticipated to fuel revenue growth for the global embolotherapy market.

Increasing demand for image-guided minimally invasive interventions have not only broadened the scope of vascular pathologies that can be treated, but has also resulted in reduction of post-operative morbidity compared to open surgical techniques. Embolization is an advanced form of treatment option whereby tiny equipment is used to navigate the body's vasculature without the need for using wound incision or open surgery. This enables reduced complication rates, increases success rate, and improves quality of life of patients.

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The report provides a sophisticated analysis of the insightful data of the Embolotherapy Market  industry that has been formulated based on thorough primary and secondary research. The details have further been validated and verified by the industry experts. The precise data offered by the report offers fruitful information about sales strategies to improve market performance.

Effect of COVID-19 on the market for embolotherapy globally

Sales of embolotherapy are declining, and it is expected that this trend will continue through the end of 2020. Unfavorable changes in legislation and norms are limiting the growth of this industry. The CDC, WHO, MHRA, TGA, and EMA, among other important international regulatory organisations, have found that adults without cancer are more likely than healthy adults to get COVID-19 infection. Therefore, screening, diagnostic tests, and surgical operations are significantly constrained or delayed at hospitals and cancer treatment centres. This will probably have a negative impact on the embolotherapy market.

Some Key Highlights From the Report :

The microspheres segment accounted for the largest share of the embolotherapy market, by product, in 2020

Detachable balloons, embolic plug systems, support devices, and embolization coils (detachable coils and pushable coils) make up the majority of the five product categories that make up the market for embolotherapy (microcatheters and guidewires). The embolic agents microspheres segment held the largest market share in 2020. One of the main factors promoting the growth of this market segment is the frequent usage of microspheres in the treatment of hepatocellular carcinoma, combined with favourable reimbursement criteria in developed nations. The introduction of new products and regulatory approvals are also helping this market category to grow.

Transcatheter Arterial Embolization (TAE) procedure attributes to rising preference for minimally invasive surgeries

 The transcatheter arterial embolization (TAE), transcatheter arterial chemoembolization (TACE), and transcatheter arterial radioembolization (TARE)/selective internal radiation therapy market segments are based on procedure (SIRT). The substantial proportion of the transcatheter arterial embolization segment is mostly due to the rising demand for less invasive procedures, the prevalence of chronic diseases, and the quick growth in the geriatric population.

The Hospitals and Clinics end user segment garnered the highest revenue in the embolotherapy market in 2020

 The embolotherapy market is divided into hospitals and clinics, ambulatory surgery centres (ASCs), and other end users depending on who would be using it. The primary end users of embolotherapy equipment are hospitals and clinics. This market segment includes products used in critical care units, minor clinics, and large hospitals for embolotherapy. The main factors that are anticipated to drive the demand for embolization devices in hospitals and clinics are the growing adoption of minimally invasive surgical procedures (including vascular, urological, and neurological procedures), increasing purchasing power of major healthcare providers across developed countries (due to the consolidation of healthcare providers), and the greater availability of reimbursements for target procedures in the US and major European countries.

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The prominent players participating in this industry include:

Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Terumo Medical Corporation, Penumbra Inc., Johnson & Johnson, Merit Medical Systems Inc., Cook Medical Inc., Kaneka Corporation, and Stryker Corporation.

Emergen Research has segmented the global embolotherapy market on the basis of product, procedure, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2018-2028)

Embolic Agents

Liquid Embolic Agents

Microspheres

Embolization Coils

Detachable Coils

Pushable Coils

Detachable Balloons

Embolic Plug Systems

Support Devices

Microcatheters

Guidewires

Procedure Outlook (Revenue, USD Billion; 2018-2028)

Transcatheter Arterial Embolization

Transcatheter Arterial Radioembolization

Transcatheter Chemoembolization

Application Outlook (Revenue, USD Billion; 2018-2028)

Cancer

Peripheral Vascular Disease

Neurological Disease

Urological & Nephrological Disorders

Others

End-use Outlook (Revenue, USD Billion; 2018-2028)

Hospitals & Clinics

Ambulatory Surgical Centers

Others

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Global Embolotherapy Market has been classified into the subsequent geographical segments:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Objectives of the Global Embolotherapy Market Study:

An extensive study of the product portfolios of the major market players and their regional presence

A closer look at the strategic initiatives undertaken by the leading companies across this industry, including mergers & acquisitions, collaborations, partnerships, and joint ventures

An in-depth study of the evolving market sectors and the growth & penetration status of the global Embolotherapy Market

COVID-19 Impact Analysis to highlight the major opportunities and challenges

Strategic recommendations to help readers formulate lucrative business strategies

Identification of the emerging players and their tactical approaches to expand market presence

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