Embolotherapy Market is expected to reach US$ 5,758.28 Million by 2028

Cancer Segment to Lead Market from 2022 to 2028

According to our new research study on "Embolotherapy Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Disease Indication, Procedure, and End User," the market is expected to grow from US$ 3,341.49 million in 2021 to US$ 5,758.28 million by 2028. It is estimated to grow at a CAGR of 8.1% during 2022–2028.

Factors driving the growth of the embolotherapy market are rising incidence of cancer cases, rising patient preference for minimally invasive procedures, and increasing incidence of hypertension, obesity, smoking, and alcoholism. The availability of alternative therapies and the high cost of embolization agents hinder the overall market growth.

Based on disease indication, the embolotherapy market is segmented into cancer, peripheral vascular disease, neurological disease, urological and nephrological disorder, gastrointestinal disorder, and other. In 2021, the cancer segment accounted for the largest share of the market. Moreover, the same segment is anticipated to grow at the fastest rate during the forecast period. Embolization has become the accepted treatment modality in patients with many clinical scenarios. Embolization treats cancers such as neuroendocrine tumors, renal cell carcinoma, and hepatocellular carcinoma. The goal of embolization in cancer treatment is usually to cause ischemia within the tumor, which leads to tumor necrosis. This effect may be enhanced by adding a chemotherapeutic drug to the embolic substance which is referred chemoembolization. Another aim of embolization in cancer treatment is to remove a tumor that cannot be removed surgically because it is situated deep in the body. Thus, embolotherapy is rapidly becoming a preferred treatment for cancer as it cuts the tumor from the blood supply, starving it of nutrients. In addition, rising incidences of cancer worldwide coupled with the respective adoption of Transarterial chemoembolization (TACE) and Transcatheter Arterial Radioembolization (TARE) procedures is likely to spur the market growth during the forecast period.

Impact of COVID-19 Pandemic on Embolotherapy Market

The COVID-19 pandemic significantly affected the global healthcare system. To combat the spread of SAR-CoV-2, governments imposed stringent policies in 2020 and 2021 to prevent and reduce infection and mortality rates. This disrupted and restricted the ability of enterprises to distribute their products and compelled them to shut down their facilities temporarily. Also, to free up limited space for the people being treated for COVID, hospitals postponed or canceled elective surgeries, including cancer, cardiovascular, and other surgeries. For instance, 89.5% of cardiac surgeries performed between April and July at the All-India Institute of Medical Sciences were dropped. The cancellation of elective surgeries to reduce exposure to COVID-19 in the hospital negatively affected the growth of the embolotherapy market. However, the world is slowly returning to normal, and it is also a time to start rebuilding lives and economies. Therefore, the continuation of surgeries and consistent rise in the number of embolotherapy procedures performed, as well as significant improvements in healthcare infrastructure, were likely to favor the growth of the embolotherapy market in the coming years.

Abbott Laboratories, Boston Scientific Corporation, Cook Medical LLC, Johnson & Johnson Consumer Inc., Medtronic, Acandis GmbH, Terumo Corporation, Balt USA LLC, Stryker Corporation, and Guerbet LLC are among the leading companies operating in the embolotherapy market.

Embolotherapy Market, by Region, 2022 (%)

The embolotherapy market is segmented based on product, disease indication, procedure, end user, and geography. Based on product, the market is segmented into embolic agents and support devices. Based on disease indication, the market is segmented into cancer, peripheral vascular disease, neurological disease, urological and nephrological disorder, gastrointestinal disorder, and other. Based on procedure, the market is segmented into transcatheter arterial embolization (TAE), transcatheter arterial radioembolization (TARE)/selective internal radiation therapy (SIRT), and transarterial chemoembolization (TACE). On the basis of end user, the market is segmented into hospital & clinic, ambulatory surgical center, and other end user. Geographically, the embolotherapy market has been segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the rest of Europe), APAC (China, India, Japan, Australia, South Korea, and the Rest of APAC), the MEA (Saudi Arabia, the UAE, South Africa, and the Rest of the MEA), and SAM (Brazil, Argentina, and the Rest of SAM).