Embolotherapy Market Size Volume, Share, Demand growth, Business Opportunity by 2027

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New York, United States: The Report on Embolotherapy Market by Decisive Markets Insights was released in the middle of Covid -19 after a thorough analysis of the top players and primary interviews with key industry figures. A market study from Embolotherapy Market examines the market size, segmentation, future trends, growth rate, drivers and challenges, as well as the sales channels and distributors. The global Embolotherapy market gathered revenue around USD 2.1 Billion in 2020 and market is set to grow USD 7.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 9.0% during the prediction period 2021 to 2027.

Overview of Embolotherapy Market Study

Embolotherapy market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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Growth Factors:

The market 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. 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.

Embolotherapy Market Dynamics
Driver: Growing target population
The embolotherapy devices market has experienced steady growth over the last decade, owing to the growing target patient population base, which has increased the number of target surgeries performed. CVD is a key target disease; its importance and high prevalence have made it a focus for research on successful and effective therapies. As of 2017, more than 200 million people are suffering from peripheral vascular diseases globally (Source: Elsevier, 2018). According to the same source, the prevalence of these diseases rises with age, with the above-80 age group displaying a prevalence rate of greater than 20%.

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 will further boost the demand for embolotherapy devices in the near future. Liver cancer is fifth-most-common cancer in men and the ninth-most-common in women. Globally, there were over 840,000 new cases diagnosed in 2018. (Source: World Cancer Research Fund). Furthermore, over the last decade, kidney cancer incidence rates increased by 42% in the UK. In females, the incidence rates increased by 44%, while there was a 38% incidence rate in males. (Source: Cancer Research UK).

Restraint: Strong market positioning of alternative therapies
The availability of effective conventional first-level therapies for the treatment of liver cancer, uterine fibroids, hemorrhagic stroke, and other hemorrhagic conditions is a key restraint to market growth. For instance, therapies such as surgery, chemotherapy, and radiation therapy are preferred options in cancer treatment due to the high awareness among individuals about traditional cancer treatments, low adoption of advanced treatment options (especially in developing countries), and the reluctance among oncologists to shift from conventional treatment options.

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.

Challenge: Dearth of skilled surgeons
Healthcare markets are witnessing a dearth of well-trained surgeons (including neurosurgeons and radiologists). The Association of American Medical Colleges (US) has estimated a deficit of 41,000 general surgeons in the US by 2025 (Source: Association of American Medical Colleges US, 2017). A shortage of more than 2,300 medical oncologists is expected in the US by 2025 (Source: Journal of Global Oncology). Similarly, India is also facing an acute shortage of oncologists, radiotherapists, and surgical oncologists. With 1.8 million cancer patients in the country, there is only one oncologist to treat every 2,000 patients. The shortage of oncologists and radiologists in several countries worldwide is expected to affect the adoption of embolotherapy procedures.

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COVID-19 Impact on Embolotherapy Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Embolotherapy market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Embolotherapy market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Embolotherapy market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Embolotherapy market include:

Boston Medical Corporation , Terumo Medical Systems , Medtronic , Johnson & Johnson , and Stryker Corporation, Sirtex Medical Limited , Abbott Laboratories , Acandis GmbH , Balt , Cook Medical , Kaneka Corporation , Penumbra, Inc. , Merit Medical Systems , Meril Life Sciences Pvt. Ltd. , Cardiva  among others.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

Global Embolotherapy market, by Product

  • Embolization Coil
    • Detachable Coils
    • Pushable Coils
  • Embolic Agents
    • Liquid Embolic Agents
    • Microspheres
  • Detachable Balloons
  • Embolic Plug Systems
  • Support Devices
    • Guidewires
    • Microcatheters

Global Embolotherapy market, by Application

  • Oncology
    • Liver Cancer
    • Kidney Cancer
    • Lung Cancer
    • Breast Cancer
    • Other Cancers
  • Peripheral Vascular Diseases
  • Urology and Nephrology
    • Benign Prostatic Hyperplasia
    • Uterine Fibroids
    • Other Urology and Nephrology Applications
  • Neurology
    • Brain Aneurysm
    • Cerebral Arteriovenous Malformations
  • GIT Disorders

Global Embolotherapy market, by Procedure

  • Transcatheter Arterial Embolization
  • Transcatheter Arterial Radioembolization/Selective Internal Radiation Therapy
  • Transarterial Chemoembolization

Global Embolotherapy market, by End User

  • Hospitals and Clinics
  • Ambulatory Surgical Centers
  • Other End Users

Why Buy this Report?

The purpose of Nova one advisor’s Embolotherapy market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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