Global Embolization Therapy Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021 – 2029; A Report by Absolute Markets Insights
The fast-paced work culture along with sedentary lifestyle is taking huge toll on the health of many individuals, especially the youngsters. The number of people suffering from chronic diseases like cancer is continuously going upwards. All these factors directly contribute to the growth of the Embolization Therapy Market. This therapy basically happens to be a procedure where substances are injected straight into an artery in the liver in an effort to block or bring down the flow of blood to a tumor in the liver. The growth of the global embolization therapy market took a hit due to the recent COVID-19 pandemic. According to most of the leading regulatory authorities worldwide like WHO, EMA and CDC, people suffering from cancer were more to be getting infected with the dreadful virus. Most of the hospitals were full and this too caused postponement in procedures like diagnostic examinations and screening.
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Several factors including the massive jump in the spending capacity of leading pharma and medical research companies in order to develop innovative products is driving the growth of the embolization therapy market. Similarly surge in patients who intend to seek target procedures like embolization as it has proven its efficacy also contributes to the growth of this market.
One of the major factor that proves as a restraining factor to the growth of this market is the fact that the procedure of embolization costs on the higher side. Along with this other factors like better positioning of alternative therapies when it comes to the treatment of liver cancer, hemorrhagic stroke and uterine fibroids also hamper embolization therapy market’s growth.
Irrespective of such restraining factors, the embolization therapy market is forecasted to grow rampantly over the period of next few years. Major governments across the globe are allocating huge funds towards the development of advanced technology through interventional oncology, and this will drive the growth over of this market over the forecast period. Previously embolization therapy was used only for uncontrolled gastrointestinal bleeding and now it is being extensively adopted for non-operative management of tumors.
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Key Takeaways of the Report:
- In terms of revenue, global embolization therapy market was valued at US$ 3.4 Bn in 2021, growing at an estimated CAGR of 8.0% over the forecast period.
- High rate of success along with low complication in terms of post-operative complication contributes to the increasing adoption of embolization therapy.
- Rising number of patients suffering from hepatocellular cancer and liver cancer, specifically in young people ageing in mid-thirties is boosting the demand for devices that are being used for procedures of embolization therapy.
- Treatment of cancer through surgery, chemotherapy along with radiations still remain the number choice of several clinicians and patients, and this dents the growth of the Embolization Therapy Market.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the embolization therapy market. Existence of key market players and high patient population for target diseases in countries like China and India drives the growth of this market.
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A few of the players operating in the global embolization therapy market are listed below:
- ABK Biomedical Inc.
- Boston Scientific Corporation
- BTG International Limited
- Cook Medical
- EmboMedics
- IMBIOTECHNOLOGIES LTD.
- Johnson & Johnson Services Inc.
- Merit Medical Systems Inc.
- Radiology Imaging Associates
- Sirtex Medical Pty Ltd
- Stryker Corporation
- Terumo Corporation
- Other Market Participants
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Global Embolization Therapy Market
By Therapy Procedure
- Radioembolization
- Transarterial Radioembolization (TARE)
- Selective Internal Radiation Therapy (TARE)
- Blandembolization
- Chemoembolization
By Embolization Agents
- Organic
- Coils
- Plugs and Balloons
- Beads and Particles
- Suture Materials
- Others
By Application
- Hepatocellular Carcinoma
- Neuroendocrine Tumor
- Liver Cancer
- Kidney Cancer
- Breast Cancer metastases
- Uterine Fibroids
- Others
By End Use
- Hospitals and Clinics
- Specialty Clinics
- Research Institutions
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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