CAGR: 8.1%Current Market Size: USD 3.6 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global embolotherapy market is expected to grow from USD 3.6 billion in 2022 to USD 6.7 billion by 2030, at a CAGR of 8.1% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising cases of cardiovascular disorders.
Embolotherapy is the process of obstructing arteries with a device (such as a balloon catheter) in order to treat or stop uncontrollable bleeding. Utilizing this technique, tumours are reduced and bleeding is controlled. It is an endovascular procedure that attempts to stop bleeding by restricting aberrant blood arteries. Embolotherapy is mostly used to treat cervical uprooted pregnancy, postpartum situations, and pelvic tract haemorrhage. This treatment has shown potential in the management of iatrogenic solid organ, vascular, and non-operative organ damage, including lesions to the liver, spleen, and kidneys. Embolotherapy is used to treat enlarged uterine fibroids, devascularize tissues and organs prior to surgery, and eliminate duodenal varices. This necessitates choosing an embolization agent with the required level of vascular blockage permanence. Embolotherapy is a minimally invasive surgical technique used to stop and manage bleeding. In order to cure bleeding ulcers and blood vessel problems, embolotherapy is a surgical treatment in which the arteries are stopped by inserting coils, balloons, and other devices. The rising incidence of hepatocellular cancer and liver cancer, along with the leading manufacturers' increased attention on technological breakthroughs, will drive up demand for embolotherapy. The market value for embolotherapy will expand as a result of rising infrastructure construction costs and improved research and development capabilities to advance healthcare technology. Other factors influencing market expansion include rising personal disposable income and rising patient desire for minimally invasive procedures.
Sample Request: - Global Embolotherapy Market
Market Dynamics:
Drivers:
Over the Projection period, it is anticipated that the prevalence of several chronic diseases, such as cancer, will increase the demand for embolotherapy. For instance, according to the Centers for Disease Control (CDC), over 25,000 men and 11,000 women are diagnosed with liver cancer each year in the United States, and approximately 19,000 men and 9,000 women pass away from the condition.
Restraints:
The market for embolotherapy would be restricted by the lack of experienced radiologists to treat patients. There is lack of skilled professionals capable of performing embolotherapy also hampers the market’s growth. The process of embolotherapy is complicated and requires a lot of experience for performing the procedure. Thus it is very much important to have a skilled medical professionsl to perform the procedure.
Opportunities:
Because of the rising prevalence of various types of liver cancer and the rising need for minimally invasive procedures, it is projected that the global market for embolotherapy would see increased demand. The rise in patients with hepatic cell carcinoma (HCC), varicose veins, renal cell carcinoma (RCC), and aneurysms is contributing to an increase in death rates, which is fueling the expansion of the embolotherapy industry. Additionally, it is anticipated that the market for embolotherapy would increase as a result of rising spending to upgrade healthcare infrastructure and expanding R&D for technical developments in the healthcare industry.
Challenges:
Although there are many end uses for the embolotherapy industry, there are several challenges that may limit market expansion throughout Projections. The development of the global embolotherapy market is anticipated to be constrained by strict regulatory standards for the devices used in embolotherapy systems and the expensive nature of the treatment. There are several countries which have several stringent regulatory policies for the use of devices which challenges the market’s growth.
Segmentation Analysis:
The global embolotherapy market has been segmented based on disease, embolic agents, application, and region.
By Disease
The disease segment includes oncology, peripheral vacsular diseases and others. The oncology segment led the largest share of the embolotherapy market with a market share of around 47% in 2022. The increasing number of cancer cases worldwide is the cause. According to statistics from the Centers for Disease Control and Prevention (CDC), 24,000 men and 10,000 women are diagnosed with liver cancer per year, and 18,000 men and 9,000 women die from it.
By Embolic Agents
The embolic agents segment includes liquid embolic agents, microspheres, embolic coils, detachable balloons and others. The liquid embolic agent segment led the largest share of the embolotherapy market with a market share of around 27% in 2022. It is becoming increasingly apparent that liquid embolic agents have advantages in distal infiltration that solid embolic agents cannot reach, enabling more extensive embolization than solid embolic agents. In the treatment of blood vessel embolism, liquid formulations have an established role with the widespread use of cyanoacrylate glues, precipitating polymers, oil and chemotherapeutic agents. Currently used liquid embolic products have a few shortcomings that are being addressed by the emerging market for next-generation liquid embolic products.
By Application
The end-user segment includes ambulatory surgery centres, hospitals & clinics and others. The hospitals & clinics segment led the largest share of the embolotherapy market with a market share of around 44% in 2022. A major share of the market is accounted for by the hospitals and clinics segment, which is Projection to grow at the highest CAGR over the Projection period. The segment holds a significant share due to the adoption of advanced technology in hospitals and the increase in surgeries at hospital facilities. Furthermore, minimally invasive surgical procedures are expected to drive market growth. These facilities are performing an increasing number of embolization procedures and adopting advanced embolotherapy devices to perform complex procedures, which are driving the demand for embolotherpay devices in the hospitals & clinics.
Global Embolotherapy Market- Sales Analysis.
The sale of embolotherapy expanded at a CAGR of 7.9% from 2016 to 2022.
The embolotherapy market is anticipated to increase over the course of the Projection period as a result of rising investments in the construction of healthcare infrastructure, particularly in emerging countries, and rising applications in end-use industries. When treating cancer, internal haemorrhages, aneurysms, and venous disorders, embolization, a minimally invasive endovascular technique, is used to purposefully restrict blood flow in blood vessels.
The market for embolotherapy is primarily being driven by a sedentary lifestyle that causes obesity and other cardiovascular disorders like heart attack, stroke, ischemic heart diseases (IHD), etc. Due to an increased preference for treating COVID-19 patients, embolotherapy treatments are expected to decline at the same time.
COVID 19 has a detrimental impact on the market for embolotherapy because there is a decrease in both the supply and demand for the related items. However, issues brought on by COVID-19 infections are given priority, supporting market expansion.
Thus, owing to the aforementioned factors, the global embolotherapy market is expected to grow at a CAGR of 8.1% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the embolotherapy market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the embolotherapy market and held a 39.5% share of the market revenue in 2022.
Global Embolotherapy Market - Country Analysis:
Germany's embolotherapy market size was valued at USD 0.25 billion in 2022 and is expected to reach USD 0.46 billion by 2030, at a CAGR of 8.2% from 2023 to 2030.
In the coming years, the embolotherapy market in Germany is expected to grow enormously. Extensive applications in the health industry are keeping the embolotherapy market afloat. As a result of the high population in Germany, and the increasing incidence of cardiovascular diseases, the market is growing.
China’s embolotherapy market size was valued at USD 1.04 billion in 2022 and is expected to reach USD 1.99 billion by 2030, at a CAGR of 8.5% from 2023 to 2030.
Increasing healthcare infrastructure expenditures as well as increased research and development skills will further drive growth in the embolotherapy market. Another factor driving the market growth of the country includes an increasing patient preference for minimally invasive procedures and an increase in personal disposable income.
India's embolotherapy market size was valued at USD 0.20 billion in 2022 and is expected to reach USD 0.38 billion by 2030, at a CAGR of 8.4% from 2023 to 2030.
An array of organic developments are implemented in the Indian embolotherapy market by companies that result in dynamic market improvements. Market growth is fueled by organic growth strategies such as product launches and product development, as well as numerous inorganic strategies, including mergers and acquisitions and partnerships, boosting the market growth.
Key Industry Players Analysis:
To increase their market position in the global embolotherapy market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
8.1% |
Market Size |
3.6 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Disease, By Embolic Agents, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Boston Scientific Corporation, Balt USA LLC, Johnson & Johnson, Abbott, Guerbet LLC, Stryker, SSEM Mthembu Medical Ltd, Medtronic, Cook Medical LLC, Acandis GmbH, and Terumo Corporation. |
By Disease |
|
By Embolic Agents |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Embolotherapy Market by Disease:
Global Embolotherapy Market by Embolic Agents:
Global Embolotherapy Market by End-User:
Global Embolotherapy Market by Region:
Global embolotherapy market is expected to reach USD 6.7 billion by 2030, at a CAGR of 8.1% from 2023 to 2030.
Leading players in the embolotherapy market are Boston Scientific Corporation, Balt USA LLC, Johnson & Johnson, Abbott, Guerbet LLC, Stryker, SSEM Mthembu Medical Ltd, Medtronic, Cook Medical LLC, Acandis GmbH, Terumo Corporation among others.
Increasing prevalence of cancer and rising technological advancements.
North America region will witness more growth in the embolotherapy market.
Political Factors- The foundation of the current political system, which supports the operations of the embolotherapy industry, is democracy. The market for embolotherapy could become financially independent with the help of a democratic political system that encourages initiative and free commerce. By partnering with powerful media outlets, pressure organisations can have an effect on the corporate environment. By starting marketing efforts and protests, these organisations are being pressured by these groups. The embolotherapy market must keep an eye on these pressure organisations because they have the power to affect government policy, which in turn may have an impact on the general business environment.
Economic Factors- The effectiveness of the financial market and overall economic growth, which have a strong positive link, enable capital accumulation and the creation of goods and services. The embolotherapy firm must pick nations with incredibly efficient financial markets if it wants to quickly develop its financial and human capital. The effectiveness of the financial system can keep the market for embolotherapy one step ahead of its rivals. The embolotherapy market should take the rates of economic growth in the various nations into account when deciding whether to become global. Long-term growth objectives can be more easily attained in nations with high economic growth rates.
Social Factors- There are two positive demographic indicators when the embolotherapy market's products/services are primarily targeted at young consumers: rapid population growth and an increasing share of the young population group. The embolotherapy market should take into account the host country's perspective on immigration because a friendly attitude toward immigrants from varied cultural origins implies that diversity management methods should be utilised. Marketers of embolotherapy must alter their marketing techniques in order to promote diversity and inclusion. A positive perspective on migration also shows how individuals from all cultural backgrounds can readily find employment in the modern coils market. Diversity in the workplace is frequently linked to increased productivity, enhanced innovation, and improved overall corporate performance.
Technological Factors- The direction of research and development in the selected field or industry reveals how forward-thinking companies are in commercialising ground-breaking discoveries. The market for embolotherapy has to comprehend how new technological developments can help the sector and benefit consumers. Markets with disruptive technology would require a substantial investment in research and development. The embolotherapy sector must, however, keep a long-term perspective and refrain from anticipating a speedy return on R&D investments.
Environmental Factors- In a range of nations and industries, the use of the closed-loop, circular economy concept is growing in popularity. Industries that gain from supportive institutional frameworks can enable material recycling and reuse. Similar to this, recycling is a well-liked practise everywhere in the world. The embolotherapy market may benefit from these sustainability trends by selling more products and using them as a tool to minimise costs associated with production and environmental concerns.
Legal Factors- There are numerous federal and state legislation in place in a number of nations to safeguard consumers from potential economic exploitation. The laws governing consumer privacy have tightened in the era of digital technology. the resources market for embolotherapy Businesses must rigorously abide by data privacy laws when conducting online transactions in order to prevent lawsuits. Market suppliers for embolotherapy must review local laws controlling returns, discounts, credit terms, quality, deceptive advertising, and maximum price before entering new markets (particularly in the case of basic essential goods).
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