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(Medical-NewsWire.com, December 24, 2021 ) According to the new market research report "Embolotherapy Market by Product (Embolic Agents (Microspheres, Liquid Embolic Agents, Coil), Microcatheters), Indication (Oncology, Vascular, Aneurysm, Urology, Nephrology), Procedure (TACE, TARE), Enduser (Hospital, Clinics, ASC) - Global Forecast to 2026", published by MarketsandMarkets™, the global market is valued at USD 3.4 billion in 2021 and is expected to reach USD 5.0 billion by 2026, at a CAGR of 8.0% during the forecast period.
Browse in-depth TOC on "Embolotherapy Market"
209 – Tables
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230 – Pages
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The growth of the market is mainly attributed to factors such as the growth in the target patient population, rising preference for minimally invasive procedures, technological advancements in embolotherapy devices, and favorable reimbursement scenario.
The microspheres subsegment of embolic agents products to hold major market share by 2026
Based on product, the market is further segmented into embolization coils (detachable coils and pushable coils), embolic agents (liquid embolic agents and microspheres), detachable balloons, embolic plug systems, and support devices (microcatheters and guidewires). The microspheres subsegment of embolic agent products commanded the largest share of the embolotherapy market in 2020 and the trend is expected to continue by 2026. Market growth is driven by the surge in the prevalence of hepatocellular carcinoma (microspheres are widely used to treat this disease), coupled with favorable reimbursement criteria in developed economies. Moreover, new product launches and approvals are further supporting the growth of the segment.
The liver cancer segment is projected to hold the largest share of the market by application during the forecast period of 2021 to 2026
Based on application, the embolotherapy market is segmented into oncology (liver cancer, kidney cancer, lung cancer, breast cancer, and other cancers), peripheral vascular diseases, urology, and nephrology (benign prostatic hyperplasia, uterine fibroids, and other urology & nephrology applications), neurology (brain aneurysm and cerebral arteriovenous malformations), and gastrointestinal disorders (GIT). The dominant share of this subsegment is attributed to the rising prevalence of liver cancer. 905,677 liver cancer cases were diagnosed globally in 2020 (Source: Globocan 2020). In the US alone, an estimated 34,000 new liver cancer cases are expected to be diagnosed each year (Source: CDC). Thus, the rising incidence of liver cancer is expected to fuel the growth of the segment in the next five years.
The transcatheter arterial radioembolization (TARE) segment is expected to register the highest growth rate during the forecast period
On the basis of procedure, the embolotherapy market is segmented into transcatheter arterial embolization (TAE), transcatheter arterial chemoembolization (TACE), and transcatheter arterial radioembolization (TARE)/selective internal radiation therapy (SIRT). The transcatheter arterial radioembolization (TARE) segment is expected to register the highest growth rate during the forecast period of 2021 to 2026. The growth of this segment is attributed to the advantages offered by TARE/SIRT, such as better clinical outcomes as compared to TACE, a lesser degree of the post-embolization syndrome, and increased cancer survival rates as compared to other techniques.
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Hospitals and clinics were the key end-users in the embolotherapy market
On the basis of end-users, the market is segmented into hospitals and clinics, ambulatory surgery centers (ASCs), and other end users. In 2020, the hospital and clinics segment held the largest share of the market. The growing adoption of minimally invasive surgical procedures (including vascular, urological, and neurological procedures), increasing purchasing power of major healthcare providers across developed countries (owing to the consolidation of healthcare providers), and the greater availability of reimbursements for target procedures in the US and major European countries are the major factors that are expected to drive the demand for embolization devices in hospitals and clinics
North America is expected to dominate the global AST market in 2019
The embolotherapy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. North America is projected to hold the largest share of the regional market for embolotherapy products in 2020. The growing geriatric population, the increasing number of ASCs, and a growing preference for minimally invasive surgeries have resulted in the increasing adoption of embolotherapy procedures in the country.
The major players in the market include Boston Medical Corporation (US), Terumo Medical Systems (Japan), Medtronic (US), Johnson & Johnson (US), and Stryker Corporation (US). Other key players in the embolization therapy market include Sirtex Medical Limited (US), Abbott Laboratories (US), Acandis GmbH (Germany), Balt (France), Cook Medical (US), Kaneka Corporation (Japan), Penumbra, Inc. (US), Merit Medical Systems (US), Meril Life Sciences Pvt. Ltd. (India), Cardiva (US), Shape Memory Medical Inc. (US), Artio Medical Inc. (US), Rapid Medical (US), Emboline, Inc. (US), and IMbiotechnologies Ltd. (Canada), among others.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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