Global Embolotherapy Market to Surpass $6,447.1 Million Revenue by 2030 says P&S Intelligence

NEW YORK, Sept. 8, 2021 /PRNewswire/ -- The global embolotherapy market value, which was $3,082.9 million in 2020, will likely reach $6,447.1 million in 2030, at a 7.7% CAGR between 2020 and 2030, according to the market research report published by P&S Intelligence.

The key factors driving the demand for embolotherapy procedures are:

• Growing Patient Pool: The number of patients suffering from hepatic cell carcinoma (HCC), varicose veins, renal cell carcinoma (RCC), and aneurysms is rising, thereby leading to an increasing mortality rate. For instance, the American Cancer Society has put the expected number of liver cancer cases to be diagnosed in the U.S. in 2021 at 42,230.
• Rising Prevalence of Chronic Diseases: Another key driving factor for the embolotherapy market is the increasing prevalence of cancers and other chronic and lifestyle-associated diseases. According to the World Health Organization (WHO), cancer leads to 9.6 million deaths each year. Embolotherapy is rapidly becoming a preferred treatment for cancer as it cuts the tumor from the blood supply, essentially starving it of nutrients.

The COVID-19 pandemic has negatively affected the embolotherapy market by reducing both the supply and demand for the associated products. During the lockdowns, factories producing non-essential commodities were shut down and the supply chains were also disrupted. On the demand side, most surgery departments were closed as the focus shifted entirely to COVID care. This led to a drastic decrease in the number of embolotherapy procedures, which resulted in an extremely low demand for the associated products.

Get the Sample Copy of this Report at @ https://www.psmarketresearch.com/market-analysis/embolotherapy-market/report-sample

The embolic agents bifurcation will witness the faster growth within the product segment of the embolotherapy market in the years to come. The rising volume of interventional radiology procedures is driving the demand for a variety of embolic agents. Moreover, numerous technological advancements have been brought about in these products, such as radioactive yttrium-90 (Y-90) microspheres, drug-eluting microspheres, and calibrated microspheres for bland embolization.

In the coming years, the transcatheter arterial embolization (TAE) category will hold the largest share in the embolotherapy market, based on procedure. The rising demand for minimally invasive surgeries by the elderly and the fact that TAE is better tolerated by and effective in patients with a ruptured HCC are propelling the preference for TAE.

Browse detailed report on Global Embolotherapy Market Analysis and Demand Forecast to 2030

In the near future, the highest embolotherapy market CAGR, of 8.0%, under segmentation by end user, is projected to be witnessed by the hospitals & clinics category. Compared to ambulatory surgery centers and other facilities, hospitals and clinics witness a higher patient footfall as they boast cutting-edge equipment and experienced professionals.

North America is the largest embolotherapy market on account of the rising incidence of diseases that require such procedures. Moreover, the advanced healthcare sector of the region is complemented by the development of improved embolotherapy products by medical device and pharma companies.

Key players in the global embolotherapy market are Stryker Corporation, Sirtex Medical Limited, Terumo Corporation, Merit Medical Systems Inc., Medtronic Plc, Meril Life Sciences Pvt. Ltd., Kaneka Corporation, Boston Scientific Corporation, Johnson & Johnson, BALT EXTRUSION SAS, Abbott Laboratories, and Guerbet.

Browse Other Related Reports

Radiotherapy Market Report - The Asia-Pacific radiotherapy market will demonstrate the fastest growth during the forecast period, driven by the improving healthcare infrastructure, widespread burden of cancer, and rising investments by private and public organizations.

Guidewires Market Report - North America contributed the highest revenue to the guidewires market in 2017, and it will continue to do so throughout the forecast period. This would be a result of the introduction of advanced guidewires, rising healthcare spending, and high volume of medical procedures.

Catheter Market Report - The North American catheter market generated the highest revenue in 2019, because of the presence of leading market players, growing prevalence of chronic disease, increasing number of government and private initiatives to create awareness about the application of catheters, increasing healthcare expenditure, and growing number of aging people.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:

Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: [email protected]
Web: https://www.psmarketresearch.com

SOURCE P&S Intelligence