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
Market Size Value in US$ 3,341.49 Million in 2021 Market Size Value by US$ 5,758.28 Million by 2028 Growth rate CAGR of 8.1% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Embolotherapy Market: Strategic Insights
| Market Size Value in | US$ 3,341.49 Million in 2021 |
| Market Size Value by | US$ 5,758.28 Million by 2028 |
| Growth rate | CAGR of 8.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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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
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Disease Indication, Procedure, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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
North America has dominated the Embolotherapy market.
Factors such as rising patient preference for minimally invasive procedures and growing application of embolotherapy will boost the market growth.
Increasing use of liquid embolic agents is likely to remain a key trend in the market.
The Embolotherapy market size is projected to reach US$ 7.37 billion by 2031.
The market is expected to register a CAGR of 8.3% during 2023–2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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