Embolization Agents Market Global Analysis & Forecast 2028

Embolization Agents Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Coils, Plugs, Beads/Particles, Detachable Balloons, Glue, Sponge, Liquid Embolics, Sclerosants, Precipitating Agents, and Others), Application (Oncology, Neurology, Urology, Cardiology, Peripheral Vascular Diseases, and Others), and End User (Hospitals, Cardiac Centers, Ambulatory Surgical Centers, and Others)

Publication Month : Oct 2021

  • Report Code : TIPRE00025058
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 219
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The embolization agents market is projected to reach US$ 4,525.75 million by 2028 from US$ 2,714.82 million in 2021; it is expected to grow at a CAGR of 7.6% from 2021 to 2028.

The growth of the market is attributed to the rising incidence of tumors and aneurysms and growing prevalence of hypertension, obesity, smoking, and alcoholism. However, high costs of embolization agents restrain the embolization agents market growth. Embolization agents are used to apply mechanical occlusion to stop the flow of blood in a blood vessel or vascular area. In interventional radiology, embolization is a common procedure. Embolization procedures are mostly used to treat traumatic injuries. Embolic agents come in a variety of forms, each with its own set of properties and applications. Depending on the duration required for arterial occlusion, embolization agents are classified as temporary or permanent.

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Embolization Agents Market: Strategic Insights

Market Size Value inUS$ 2,714.82 million in 2021
Market Size Value byUS$ 4,525.75 million by 2028
Growth rateCAGR of 7.6% from 2021-2028.
Forecast Period2021-2028
Base Year2021
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In the US, the demand for warts treatment procedures has reduced due to the shift in the focus on COVID-19 treatment. The COVID-19 pandemic has been causing havoc in the global supply chains, consumer markets, and economies. This situation has led to a decline in cardiac procedures carried out in various countries in Asia Pacific. The measures implemented by governments across the world have negatively impacted the embolization agents market growth.

Lucrative Regions for Embolization Agents Market

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Market Insights
Rising Incidence of Tumors and Aneurysms Fuels Embolization Agents Market Growth

According to the National Cancer Institute, in 2020, there were 1,806,590 new cancer cases and 606,520 deaths due to the disease in the US. In 2020, prostate, lung, and colorectal cancers accounted for 43 % of all cancers diagnosed in men. Breast, lung, and colorectal cancers are the three most frequent cancers diagnosed in women. As per the Brain Aneurysm Foundation, Statistics and Facts report, in the US, around 6.5 million people that is 1 in 50 people have an unruptured brain aneurysm. It has also mentioned that 20% of the total people diagnosed with a brain aneurysm have more than one aneurysm. It has further reported that, every year, around 30,000 people in the US suffer from a brain aneurysm rupture and a brain aneurysm rupture takes place every 18 minutes. Further, as per the NHS, every year in the UK, 1 in 12,500 people have a ruptured brain aneurysm in England. Additionally, as per the ‘Unruptured Intracranial Aneurysms Pathogenesis and Individualized Management’ report published in Deutsches Ärzteblatt International in 2020, around 2 million people (adults) in Germany have an unruptured intracranial aneurysm (IA). Embolization agents are used to acutely stop the flow in a blood vessel or vascular territory by the means of mechanical occlusion. Embolizing agents, such as embolic microspheres (beads), are used to restrict the vascular supply to tumors and can be loaded with chemotherapeutic medicines, which elute and diffuse into the tissue. Liquid embolic agents are used to prevent blood supply to aneurysm or tumor. Thus, the increasing prevalence of aneurysms and cancers is creating high demand for embolization agents.

Product-Based Insights

Based on product, the embolization agents market is segmented into coils, beads/particles, plugs, detachable balloons, glue, sponge, liquid embolics, sclerosants, precipitating agents, and others. The beads/particles segment holds the largest share of the market. However, the coil segment is anticipated to register the highest CAGR during 2021–2028. Coil Embolization is a catheter-based procedure that allows precise occlusion of abnormal blood flow in a blood vessel. The increasing number of cardiac surgeries is propelling the market growth of this segment.

Embolization Agents Market, by Product – 2021 and 2028

Embolization Agents Market, by Product – 2021 and 2028
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Application - Based Insights

Based on application, the embolization agents market is segmented into neurology, oncology, cardiology, peripheral vascular diseases, and others. The oncology segment holds the largest share of the market and is anticipated to register the highest CAGR in the market during the forecast period.

End User-Based Insights

Based on end user, the embolization agents market is segmented into hospitals, ambulatory surgical centers, cardiac centers, and others. The hospitals segment holds the largest market share and is estimated to register the highest CAGR during the forecast period. The market growth for this segment is attributed to the increasing number of hospitals across the world and rapidly growing number of surgical procedures.

Companies operating in the embolization agents market are adopting the product innovations strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market.

Embolization Agents Market – by Product

  • Coils
    • Detachable Coils
    • Pushable Coils
  • Beads/ Particles
    • Spherical
    • Non-Spherical
  • Plugs
  • Detachable Balloons
  • Glue
  • Sponge
  • Liquid Embolics
  • Sclerosants
  • Precipitating Agents
  • Others

Embolization Agents Market – by Application

  • Oncology
  • Neurology
  • Urology
  • Cardiology
  • Peripheral Vascular Diseases
  • Others

Embolization Agents Market – by End User

  • Hospitals
  • Cardiac Centers
  • Ambulatory Surgical Centers
  • Others

Embolization Agents Market– by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East and Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • Medtronic
  • Terumo Corporation
  • Cook Medical LLC
  • Boston Scientific Corporation
  • Abbott
  • Stryker Corporation
  • Penumbra, Inc.
  • Merit Medical Systems Inc.
  • DePuy Synthes
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Application and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

What are embolization agents?

Embolization agents are used to apply mechanical occlusion to stop the flow of blood in a blood vessel or vascular area. In interventional radiology, embolization is a common procedure. Embolization procedures are most used to treat traumatic injuries. Embolic agents come in a variety of forms, each with its own set of properties and applications. Depending on the duration of time that arterial occlusion is required, embolization agents are classified as temporary or permanent.

What are the driving factors for the embolization agents market across the globe?

The factors that are driving growth of the market are rising incidence of tumors and aneurysms, and growing incidence of hypertension, obesity, smoking, and alcoholism.

Who are the developments carrying out by major players in the embolization agents market?

Various companies have made organic growth strategies in the embolization agents market. Some of the activities undertaken by the company, which have promoted its growth are, launches, enhancements and expansion & relocation activities. Companies such as Medtronic, Cook Medical LLC amongst others are some of the companies that have been implementing various organic strategies that have helped the growth of the company.

Which region is dominated the embolization agents market?

North America dominates the global embolization agents market due to factors such as increasing incidences of the neurological disorders such as stroke, brain aneurysms and others across the country, increasing product launches, well-developed healthcare facility centres equipped with modern-age equipment and instruments.

Which segment is growing at the highest CAGR in the embolization agents market?

The coil segment is growing at the highest CAGR owing to increasing number of cardiac surgeries.

Which region is the fastest growing in the embolization agents market?

Asia Pacific is expected to be the fastest growing region in the embolization agents market. The growth of the market in this region is primarily due to factors such as rising prevalence of the brain stroke, coronary artery diseases, heart diseases, increasing surgical procedures, growing number of hospitals and ambulatory surgeries centers, focus by industry players in Japan and developing healthcare infrastructure in India are likely to boost the market growth in forecast period.

The List of Companies - Embolization Agents Market

  1. Medtronic
  2. Terumo Corporation
  3. Cook Medical LLC
  4. Boston Scientific Corporation
  5. Abbott
  6. Stryker Corporation
  7. Penumbra, Inc.
  8. Merit Medical Systems Inc.
  9. DePuy Synthes
  10. KANEKA CORPORATION            

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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