Embolotherapy Market at a CAGR of 8.1%, increasing demand for minimally invasive procedures, favorable reimbursement scenario

Embolotherapy Market research analysis and data lend a hand to businesses in the planning of production, product launches, costing, inventory, purchasing, and marketing strategies. The company profiles of all the chief and dominating market players and brands who are taking steps such as product launches, joint ventures, mergers, and acquisitions are mentioned in the report. The Embolotherapy Market report includes a systematic investigation of the current scenario of the market, which covers several market dynamics. The Embolotherapy Market report provides the supreme base for the competitor analysis, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.

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The major players in the market include Boston Scientific Corporation (US), Merit Medical Systems (US), Terumo Corporation (Japan), Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), BTG plc (UK), Penumbra, Inc. (US), Cook Medical (US), Abbott Laboratories (US), Acandis GmbH (Germany), BALT Extrusion (France), Sirtex Medical Limited (Australia), Kaneka Corporation (Japan), and Meril Life Sciences Pvt. Ltd. (India) among others.

The embolotherapy market is projected to reach USD 4.9 billion by 2024 from USD 3.3 billion in 2019, at a CAGR of 8.1% from 2019 to 2024. 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. 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 disease indication, accounted for the largest share of the embolotherapy market in 2018"

In terms of disease indication, 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 fifthmostcommon cancer in men and the ninthmostcommon 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 embolic agents and support devices. The embolic agents segment is further sub segmented into embolic coils, embolic plug systems, liquid embolic agents, microspheres, and detachable balloons. Whereas, the support devices segment includes micro catheters and guide wires. 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.

"The US market, by region, commanded the largest market share in 2018"

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.

Breakdown of supply-side primary interviews:

By Company Type: Tier 1 -25%, Tier 2- 30%, and Tier 3 - 45%
By Designation: C-level- 26%, Director-level -30%, and Others - 44%
By Country: North America-34%, Europe- 26%, APAC -23%, and RoW -17%

Research Coverage

This report studies the embolotherapy market based on product, disease indication, procedure, end user, and region. The report also studies factors such as drivers, restraints, opportunities, and challenges affecting market growth. It also provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to individual growth trends, and it also forecasts the revenue of the market segments with respect to four main countries.

Key Benefits of Buying the Report

This report focuses on various levels of analysis-industry trends, market shares of top players, and company profiles, which together form basic views. It also analyzes the competitive landscape; and high-growth countries along with their respective drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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