Embolotherapy Market to Reach US$ 7,942.8 Million by 2032; Embolic Agents to Document A 7.5% CAGR: Fact.MR
Rapid Technological Advancement, Increased Prevalence of Cancer and Other Chronic Disorder and Wide Acceptance of Embolization Procedures Are Projected To Drive the Growth of the Embolotherapy Market
Rockville, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The global embolotherapy market is currently valued at US$ 3,545.56 Million and is anticipated to expand at a CAGR of 8.4% to reach US$ 7,942.8 Million by 2032-end. The market is expected to witness growth owing to the increasing prevalence of cancer and more focus of the key players on technological advancements. The increasing expenditure to improve healthcare infrastructure and the growing research and development activities for technological advancements in the healthcare sector is expected to drive growth of embolotherapy market.
The increasing number of patients suffering from hepatic cell carcinoma (HCC), varicose veins, renal cell carcinoma (RCC), and aneurysms is rising, thereby leading to an increased mortality rate to drive the embolotherapy market growth. However, lack of skilled medical professionals and lack of some side effects associated with the emboli-removal catheter is the factor limiting the growth of the global embolotherapy market.
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2023 - 2032
Value Projection (2032)
US$ 7942.8 Billion
Growth Rate (2022-2032)
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Key Takeaways from Market Study
The global embolotherapy market demand is likely to surge at an 8.4% CAGR during the forecast period.
North America dominates the global embolotherapy market, likely to register at an 8.1% CAGR
Based on end-user hospitals & clinics segment accounts for a CAGR of 7.3% during the forecast period.
Embolic agent segment holds he highest share of the embolotherapy market dusting the forecast period
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Medtronic plc, Stryker Corporation, Johnson & Johnson, BTG plc, Cook Medical, Penumbra, Inc., Abbott Laboratories, Boston Scientific Corporation, Merit Medical Systems, Terumo Corporation are some of the key companies in the embolotherapy market.
Companies operating in the market have been focusing on innovations. There is an immense focus on offering more efficient solutions depending upon evolving needs of end users. The global embolotherapy market is considered fairly fragmented due to the presence of a numerous players. Besides this, collaborations have been a key strategy among market players as they aim at expanding regional footprint as well as their product portfolio.
Some of the recent developments from the market are
In June 2022 -Stryker, today the opening of its new research and development facility, Stryker’s Global Technology Centre (SGTC), at the International Tech Park. The 150,000-square-foot facility will help accelerate innovation in India and globally, and further support the company’s mission to make healthcare better.
In September 2021 – Abbott announced that the U.S. Food and Drug Administration (FDA) has approved the company's Portico™ with FlexNav™ transcatheter aortic valve replacement (TAVR) system to treat people with symptomatic, severe aortic stenosis who are at high or extreme risk for open-heart surgery. With this latest TAVR advancement, Abbott continues to offer the industry's leading portfolio of structural heart solutions that include innovative, minimally invasive therapies to repair or replace diseased or damaged heart valves or close openings in the heart.
In October 2022 – Biosense Webster, Inc., part of Johnson & Johnson MedTech, announced the European launch of the HELIOSTAR™ Balloon Ablation Catheter – the first radiofrequency balloon ablation catheter. The HELIOSTAR™ Balloon Ablation Catheter is indicated for use in catheterbased cardiac electrophysiological mapping (stimulating and recording) of the atria and, when used with a compatible multi-channel RF generator, for cardiac ablation.
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Key Segments Covered in the Embolotherapy Market Industry Survey
By Product Type :
Embolic Plug Systems
Liquid Embolic Agents,
By Disease Indication :
Peripheral Vascular Disease
Peripheral Vascular Disease
Urological & Nephrological Disorder
By Procedure :
Transcatheter Arterial Embolization (TAE)
Transcatheter Arterial Radioembolization (TARE)/Selective Internal Radiation Therapy (SIRT)
Transarterial Chemoembolization (TACE)
By End-user :
Ambulatory Surgical Centre
By Region :
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the embolotherapy market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights into the embolotherapy market analysis report Market by Product Product type(Embolic Agents (Microspheres, Embolic coils, Embolic Plug Systems, Detachable Ballons, Liquid Embolic Agents, others) Support Devices (Microcatheters, Guidewires))by Disease Indiaction (Cancer(Liver Cancer, Kidney Cancer, Other Cancer), Peripheral Vascular Disease, Peripheral Vascular Disease, Urological & Nephrological Disorder, Gastrointestinal Disorder, others) by Procedure( Transcatheter Arterial Embolization (TAE), Transcatheter Arterial Radioembolization (TARE)/Selective Internal Radiation Therapy (SIRT), Transarterial Chemoembolization (TACE)) by End-user (Hospitals& Clinics, Ambulatory Surgical Centre, Others) by Region - Global Forecast 2022-2032
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