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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%

·5-min read

during the forecast period. The growth of this market is primarily driven by the rising burden of target diseases and increasing investments, funds, and grants for the development of novel products. Moreover, increasing demand for minimally invasive procedures, favorable reimbursement scenario, and new product launches in the market are further supporting the growth of the market over the forecast period.

New York, May 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Embolotherapy Market by Product, Indication, Procedure, Enduser - Global Forecast to 2026" - https://www.reportlinker.com/p05806381/?utm_source=GNW
However, stringent regulatory frameworks for product commercialization and the strong market positioning of alternative treatments are expected to limit the optimal adoption of embolotherapy devices during the forecast period.

The cancer segment, by application, accounted for the largest share of the embolotherapy market in 2020
In terms of application, embolotherapy market is classified into cancer, peripheral vascular diseases, neurological diseases, urological & nephrological disorders, and gastrointestinal disorders.The high success rate and less post-operative complication rate associated with embolotherapy procedures coupled with the rising incidences of liver cancer and hepatocellular cancer are the key factors fueling the demand for embolotherapy devices for cancer disease indication.

For instance, liver cancer is the fifth most common cancer in men and the ninth most common in women.

The embolic agents segment, by product, is to register a significant growth rate owing to new product approvals
Based on product, the embolotherapy market is broadly segmented into embolization coils (detachable coils and pushable coils), embolic agents (liquid embolic agents and microspheres), detachable balloons, embolic plug systems, and support devices (microcatheters and guidewires).The embolic agents segment is anticipated to register the highest growth over the forecast period owing to new product approvals and launches in the segment.

For instance, in 2019, Terumo received the FDA Premarket Approval (PMA) for the ‘WEB Aneurysm Embolization System.’ Moreover, in 2018, Medtronic launched OptiSphere embolization spheres in the US as well as the Concerto 3D detachable coil system in Ireland.

Increasing availability of reimbursements in most of developed countries to drive the segment growth of ambulatory surgical centers end user segment

Based on end users, the embolotherapy market is segmented into hospitals and clinics, ambulatory surgery centers (ASCs), and other end users.The ambulatory surgery centers segment is projected to register the highest CAGR during the forecast period.

The significant growth of this segment can be attributed to the growing adoption of minimally invasive surgical procedures, the increasing number of procedures in ambulatory surgery centers, and the greater availability of reimbursements for target procedures in the US and major European countries.

The US market, by region, commanded the largest market share in 2020
On the basis of region, the embolotherapy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.The US held the major share of the global embolotherapy market in 2018.

Factors such as the favorable reimbursement scenario in the US, growing target patient population (CVDs, neurovascular diseases, cancer, and uterine fibroids), increasing preference for minimally invasive procedures, new product launches and technological advancements in embolotherapy devices, and the presence of key players in the region are driving the growth of the embolotherapy market in the US.

A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1–45%, Tier 2–34%, and Tier 3– 21%
• By Designation: C-level–47%, Director-level–33%, and Others–20%
• By Region: North America–35%, Europe–32%, Asia Pacific–25%, Latin America–6%, and the Middle East & Africa–2%

Some of the prominent players in the embolotherapy market 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.

Research Coverage
This report studies the embolotherapy market based on product, procedure, application, end user, and region.It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.

Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).

Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.

This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the embolotherapy market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the embolotherapy market
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the embolotherapy market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Read the full report: https://www.reportlinker.com/p05806381/?utm_source=GNW

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