(PharmaNewsWire.Com, June 18, 2021 ) Global Embolotherapy Market Size, Trends & Growth Opportunity, By Product (Embolization Coil, Embolic Agents, Detachable Balloons, Embolic Plug Systems, Support Devices (Guidewires, and Microcatheters)), By Application, By Procedure, By End User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), By Region and Forecast till 2027.
Embolotherapy is defined as a type of endovascular treatment which aims to block abnormal blood vessels in order to control bleeding, close fistulae or arteriovenous malformations, devascularise organs, reduce tumors & much more. To achieve blocking, embolotherapy performs minimally-invasive methods as well as several embolic agents are used. The embolic agents used can be either temporary or permanent & are determined according to the clinical application, and thus can differ greatly from case to case.
The increase in prevalence of several chronic diseases such as cancers, strokes, and their growing adverse effects on the elderly population will positively influence the growth of global embolotherapy market over the forecast period. For i9nstance, as per the information provided by World Health Organization, in 2016 around 15.2 out of 56.9 million deaths were caused due to the stroke, worldwide. Also, increase in funding by government as well as private organizations expected to drive the growth of global embolotherapy market growth. Furthermore, Favorable repayment policies for the minimally invasive surgeries is also contributing target market growth. Moreover, the increase in cases of heptocellular cancer and liver cancer will also accelerate the embolotherapy market growth.
Key Players
The major players in the market include Johnson & Johnson, Stryker Corporation, Medtronic, Terumo Medical Systems, Boston Medical Corporation, Cook Medical, Kaneka Corporation, BTG PLC, Abbott Laboratories, Acandis GmbH, etc. key players are focusing on various inorganic strategies like acquisition and collaborations to expand their market presence in the market.
By Product • Embolization Coil • Embolic Agents • Detachable Balloons • Embolic Plug Systems • Support Devices o Guidewires o Microcatheters
By Application • Oncology o Liver Cancer o Kidney cancer o Lung cancer o Breast Cancer o Other Cancers • Peripheral Vascular Diseases • Urology and Nephrology • Neurology • GIT Disorders
By End User • Hospitals and Clinics • Ambulatory Surgical Centers • Others
By Region • North America • Latin America • Europe • Asia Pacific • Middle East & Africa
Impact of COVID 19 on Market
The Global Embolotherapy Market is witnessing a loss of business, due to the COVID-19 pandemic. Unfavorable changes in regulations & guidelines are hampering the growth of this industry. Major regulatory authorities across the world have identified that cancer patients are at greater risk of COVID-19 infection than healthy adults. Thus, screening, diagnostic exams, and surgical procedures are being severely restricted at hospitals and cancer care hospital which is expected to hinder the global embolotherapy market growth.
Regional Analysis
The Global Embolotherapy Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America accounted for the largest share in the Global Embolotherapy Market, due to the growing healthcare industry and availability of advanced healthcare infrastructure in the region. Furthermore, Asia Pacific is expected to observe the fastest growth during the forecast period due to the increase in geriatric population, the increasing number of ASCs, and a growing preference for minimally invasive surgeries in the region.
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