(PharmaNewsWire.Com, August 20, 2021 ) The global embolotherapy market is valued at USD 3.4 billion in 2021 and is expected to reach USD 5.0 billion by 2026, at a CAGR of 8.0% during the forecast period. Increasing incidences of peripheral vascular diseases, liver cancer, strokes, and uterine fibroids coupled with rising preference for minimally invasive procedures; increasing investments, funds, and grants by public-private organizations for research; and technological advancements in the market will fuel the market growth over the forecast period.
Opportunity: Expanding applications of embolotherapy devices
The applications of embolotherapy continue to expand. Initially, embolotherapy was applied for uncontrolled gastrointestinal bleeding; in recent years, embolotherapy is being increasingly adopted for various indications such as non-operative management of solid tumors of the liver, spleen, and kidney; visceral and solid organ aneurysm; vascular malformations in the central nervous systems, pulmonary circulation, head & neck, trunk, and extremities; uterine fibroids; and benign prostatic tumors.
The Asia Pacific market is expected to grow at the highest CAGR during the forecast period
The embolotherapy market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Improving healthcare infrastructure in the region, the large patient population for target diseases, and expanding presence of key market players in the region to grab elevating opportunities offered by these countries are the key factors supporting the market growth in this region.
Key Market Players
The major players in the embolotherapy market are Boston Medical Corporation (US), Terumo Medical Systems (Japan), Medtronic (US), Johnson & Johnson (US), and Stryker Corporation (US). Other key players in the embolization therapy market include Sirtex Medical Limited (US), Abbott Laboratories (US), Acandis GmbH (Germany), Balt (France), Cook Medical (US), Kaneka Corporation (Japan), Penumbra, Inc. (US), Merit Medical Systems (US), Meril Life Sciences Pvt. Ltd. (India), Cardiva (US), Shape Memory Medical Inc. (US), Artio Medical Inc. (US), Rapid Medical (US), Emboline, Inc. (US), and IMbiotechnologies Ltd. (Canada), among others.
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