Embolotherapy Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The embolotherapy market size is projected to reach US$ 7.37 billion by 2031 from US$ 3.88 billion in 2023. The market is expected to register a CAGR of 8.3% during 2023–2031. Increasing use of liquid embolic agents is likely to remain a key trend in the market.

Embolotherapy Market Analysis

Rising incidences of stroke and aneurysms have been observed in the European region and the world. For instance, in Spain, stroke is considered the third leading cause of death after Alzheimer's disease and ischemic heart stroke. Additionally, in Africa, hypertension is the major risk factor for stroke, along with other risk factors that include obesity, stress, smoking, alcohol use, physical inactivity, and an unhealthy diet. Furthermore, in 2020, 111,321 new cancer cases was diagnosed in South Africa, with more than 64,547 cancer-related deaths in the country. Due to the above factors, many organizations are running programs to reduce the mortality due to chronic diseases. For instance, the Healthy Heart Africa (HHA) Program has been launched by AstraZeneca to prevent hypertension and reduce the increasing burden of CVDs across Africa.

Embolotherapy Market Overview

Increasing implementation of embolotherapy in treating endovascular disease, traumatic injuries, cerebrovascular malformation, venous malformation, arteriovenous malformation, and pediatric vascular conditions are expected to offer an opportunity for the Embolotherapy market revenue growth over the coming years. The prevalence of brain aneurysms in Canada is rising. According to the Brain Aneurysm Foundation, around 2,800-3,500 individuals suffer from a brain aneurysm every year, accounting for about 3% of all hemorrhagic strokes. Moreover, the prevalence is observed in people aged above 40. As per the Canadian Institute for Health Information, in the next 20 years, the population aged 65 is expected to grow by 68%. As per the Brain Injury Association, approximately 160,000 Canadians experience an acquired brain injury every year. These rates continue to rise and are likely to increase the chances of an aneurysm.

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Embolotherapy Market: Strategic Insights

Embolotherapy Market

• 
  CAGR (2023 - 2031)

  8.3%
• Market Size 2023
  US$ 3.88 Billion
• Market Size 2031
  US$ 7.37 Billion

Market Dynamics

GROWTH DRIVERS

• Rising Patient Preference for Minimally Invasive Procedures to Favor Market

FUTURE TRENDS

• Growing Applications of Embolotherapy

OPPORTUNITIES

• Increasing Number Of Research And Development Activities

Key Players

• Abbott Laboratories
• Boston Scientific Corporation
• Cook Medical LLC
• Johnson Johnson Consumer Inc
• Medtronic
• Acandis GmbH
• Terumo Corporation
• Balt USA LLC
• Stryker Corporation
• Guerbet LLC

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product

• Embolic Agent and Support Device

Disease Indication

• Cancer
• Peripheral Vascular Disease
• Neurological Disease
• Urological & Nephrological Disorder
• Gastrointestinal Disorder

Procedure

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

End User

• Hospital & Clinic
• Ambulatory Surgery Center
• Other End User

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Embolotherapy Market Drivers and Opportunities

Rising Patient Preference for Minimally Invasive Procedures to Favor Market

The preference has shifted from open surgery to minimally invasive procedures with real-time imaging. Prostatic artery embolization (PAE) is also a minimally invasive therapy implemented as an elective outpatient technique for lower urinary tract symptoms (LUTS) secondary to benign prostatic hyperplasia (BPH). The total patients cured with PAE has grown in recent years. Embolization has established itself as a minimally invasive technique for achieving vascular occlusion. Liquid embolic agents have attracted considerable attention as they penetrate deep into the vessels and independently of thrombus formation, which relies on the patient's coagulation system.

Increasing Number Of Research And Development Activities

Due to the increasing research and development activities, new introductions and innovations are projected to drive the adoption of new technologies, propelling market growth. For instance, in September 2021, Korea Ministry of Food and Drug Safety (MFDS) approved MicroPort NeuroTech’s NUMEN Coil Embolization System and NUMEN FR Detachment System. For hospital usage NUMEN is primarily used in endovascular coiling procedures to treat intracranial aneurysms due to its stable embolization and dense packing. Furthermore, they also dependently developed the NUMEN Coil Embolization System, which was approved by Korea’s Health Insurance Review and Assessment Service (HIRA) as a product eligible for health insurance reimbursement in Korea. The above factors will likely create opportunities for the embolotherapy market during the forecast period.

Embolotherapy Market Report Segmentation Analysis

Key segments that contributed to the derivation of the embolotherapy market analysis are product, disease indication, procedure, and enduser.

• Based on product, the embolotherapy market is bifurcated into embolic agents and support devices. Furthermore, the embolic agent’s segment is sub-segmented into microspheres, embolic coil, liquid embolic agents, embolic plug systems, detachable balloons, and others. Also, the support devices segment is further bifurcated into micro catheters and guidewires. The embolic agents segment held a larger market share in 2023.
• Based on disease indication, the embolotherapy market is divided cancer, peripheral vascular disease, neurological diseases, urological and nephrological disorders, gastrointestinal disorders, and others. The cancer segment held a larger market share in 2023.
• Based on procedure, the embolotherapy market is divided transcatheter arterial embolization (TAE), transcatheter arterial radioembolization (TARE)/selective internal radiation therapy (SIRT), and transarterial chemoembolization (TACE). The transcatheter arterial embolization (TAE) segment held a larger market share in 2023.
• Based on end user, the embolotherapy market is divided into hospitals and clinics, ambulatory surgical centers, and other end users. The hospitals and clinics segment held a larger market share in 2023.

Embolotherapy Market Share Analysis by Geography

The geographic scope of the Embolotherapy market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the market and Asia Pacific is anticipated to grow with the highest CAGR in the coming years. The growth of the Asia Pacific market iis due to the rising prevalence of brain stroke, coronary artery diseases, heart diseases, increasing surgical procedures, and others. The rise in cardiovascular diseases is observed due to the rise in risk factors such as cholesterol, blood pressure, smoking, and diabetes. The 35.4% percentage of men who smoke in Japan is greater than the rate of smoking in the US.  Furthermore, in June 2022, Medtronic launched a CE-marked fourth-generation flow diverter, a Pipeline Vantage embolization device with shield technology for the endovascular treatment of brain aneurysms. The above factors will propel the embolotherapy market.

Embolotherapy Market Report Scope

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Embolotherapy Market News and Recent Developments

The Embolotherapy market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Embolotherapy market are listed below:

• Terumo Medical Corporation announced the launch of the new AZUR HydroPack Peripheral Coil System in the United States. This coil is designed to find and fill space within the vessel, and it is the only packing coil that uses proprietary hydrogel technology to create a gel core for mechanical occlusion. (Source: Terumo Medical Corporation, Press Release, December 2023)
• Guerbet announced it would double its line of microcatheters and launch a new line of guidewires, resulting in a broad range of interventional imaging and embolization solutions available. (Source: Guerbet, Press Release, March 2022)

Embolotherapy Market Report Coverage and Deliverables

The “Embolotherapy Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Embolotherapy market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Embolotherapy market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Embolotherapy market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments3
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Embolotherapy market
• Detailed company profiles