Dublin, Aug. 14, 2019 (GLOBE NEWSWIRE) -- The "Embolotherapy Market by Product (Embolic Agents (Microspheres, Detachable Coils, Pushable Coils), Guidewires), Disease (Oncology, Aneurysm, Peripheral Vascular), Procedure, End User (Hospitals, Clinics, ASC, Academia) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global embolotherapy market is valued at USD 3,309.3 million in 2019 and expected to reach USD 4,875.8 million by 2024, at a CAGR of 8.1% from 2019 to 2024.

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.

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.

Market Dynamics

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 fifth most common cancer in men and the ninth most common 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 agent's segment is further sub-segmented into embolic coils, embolic plug systems, liquid embolic agents, microspheres, and detachable balloons. Whereas, the support devices segment includes microcatheters and guidewires. 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.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Embolotherapy: Market Overview
4.2 Embolotherapy Market, By Product
4.3 Market, By Procedure and Region
4.4 Market, By Disease Indication
4.5 Asia Pacific Market, By End-user & Country
4.6 Geographic Snapshot of the Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Target Patient Population
5.2.1.2 Rising Patient Preference for Minimally Invasive Procedures
5.2.1.3 Funding & Investments by Government & Private Organizations
5.2.1.4 Technological Advancements in Embolotherapy Devices
5.2.1.5 Favorable Reimbursement Scenario for Minimally Invasive Surgeries
5.2.2 Restraints
5.2.2.1 Lack of Sufficient Evidence & Unfavorable Regulatory Scenario
5.2.2.2 Strong Market Positioning of Alternative Therapies
5.2.3 Opportunities
5.2.3.1 Growth Opportunities Offered by Emerging Markets
5.2.3.2 Expanding Applications of Embolization Devices
5.2.4 Challenges
5.2.4.1 Dearth of Skilled Surgeons
5.2.4.2 High Costs & Resulting Difficulties in Accessing Embolization in Developing Countries

6 Embolotherapy Market, By Product
6.1 Introduction
6.2 Embolic Agents
6.2.1 Microspheres
6.2.1.1 Preference for Alternative Procedures Limits the Growth of This Market Segment
6.2.2 Embolic Coils
6.2.2.1 Detachable Coils
6.2.2.1.1 Detachable Coils Can Be Retracted and Redeployed A Number of Times Until Satisfactory Placement is Reached, Which is A Key Advantage of This Product Segment
6.2.2.2 Pushable Coils
6.2.2.2.1 Use of Pushable Coils Increases the Risk of Non-Target Vascular Blockages, Thereby Hampering Their Use in Various Applications
6.2.3 Liquid Embolic Agents
6.2.3.1 Significant Adoption of Embolic Coils Due to Their Procedural Benefits Over Liquid Embolic Agents is Expected to Restrict Market Growth
6.2.4 Embolic Plug Systems
6.2.4.1 Procedural Advantages Delivered By Vascular Plugs Such as A Significantly Shorter Occlusion Time and Recanalization Rate are the Key Factors Leading to Their Increased Adoption
6.2.5 Detachable Balloons
6.2.5.1 Adverse Events Associated With the Use of Detachable Balloons Such as Balloon Rupture, Failure, Or Shrinkage May Limit the Utilization of This Embolic Device
6.3 Support Devices
6.3.1 Microcatheters
6.3.1.1 Advancements and Regulatory Approvals in Microcatheter Technologies are Expected to Result in Their Wider Adoption
6.3.2 Guidewires
6.3.2.1 Rising Adoption of Guidewires Among Medical Professionals Owing to Their Procedural Benefits is Expected to Drive Market Growth

7 Embolotherapy Market, By Disease Indication
7.1 Introduction
7.2 Cancer
7.2.1 Liver Cancer
7.2.1.1 Rising Prevalence of Liver Cancer is Projected to Fuel Segment Growth
7.2.2 Kidney Cancer
7.2.2.1 The Wide Adoption of Preoperative Kidney Tumor Embolization in the Treatment of Kidney Cancer is Driving Market Growth
7.2.3 Other Cancers
7.2.3.1 Increasing Clinical Research to Check the Effectiveness of Embolization for Cancer Treatment to Drive Market Growth
7.3 Peripheral Vascular Disease
7.3.1 Rising Adoption of Vascular Plugs is A Key Driving Factor for the Market
7.4 Neurological Diseases
7.4.1 Cerebral Aneurysm
7.4.1.1 Limited Availability of Reimbursements Across Major Markets May Hinder Market Growth
7.4.2 Arteriovenous Malformation and Fistulas
7.4.2.1 Side Effects Associated With AVM Embolization Procedures May Restrict Market Growth to A Certain Extent
7.5 Urological & Nephrological Disorders
7.5.1 Embolic Agents are Used to Treat Uterine Fibroids, Autosomal Dominant Polycystic Kidney Disease, and Benign Prostatic Hyperplasia
7.6 Gastrointestinal Disorders
7.6.1 Embolization is A Widely Adopted Procedure Used to Treat LGIB and LGIB

8 Embolotherapy Market, By Procedure
8.1 Introduction
8.2 Transcatheter Arterial Embolization (TAE)
8.2.1 Transcatheter Arterial Embolization Dominates the Market Due to the Increasing Incidence of Uterine Fibroids & Vascular Lesions
8.3 Transcatheter Arterial Radioembolization (TARE)/Selective Internal Radiation Therapy (SIRT)
8.3.1 Better Clinical Outcomes & Increased Cancer Survival Rate are Supporting the Growth of This Segment
8.4 Transarterial Chemoembolization (TACE)
8.4.1 TACE Can Be Used to Treat Tumors That are Relatively Larger in Size, Which Cannot Be Easily Treated By Tumor Ablation

9 Embolotherapy Market, By End User
9.1 Introduction
9.2 Hospitals and Clinics
9.3 Ambulatory Surgery Centers
9.4 Other End Users

10 Embolotherapy Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 The US Dominates the Global Market in 2018 Due to the Large R&D Investments in the Country
10.2.2 Canada
10.2.2.1 High Burden of Cancer to Support Market Growth
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany is the Fastest-Growing Market in Europe
10.3.2 UK
10.3.2.1 Increasing Incidence of Target Health Conditions Coupled With the Rising Geriatric Population to Drive Market Growth
10.3.3 France
10.3.3.1 Government Initiatives to Raise Awareness About Embolotherapy Will Increase the Adoption of Embolization Procedures in the Country
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.1.1 Growing Geriatric Population and the Increasing R&D Investments in the Country are the Major Factors Driving Market Growth
10.4.2 China
10.4.2.1 China to Register the Highest Growth in the APAC Embolotherapy Market Due to the Growing Target Patient Population
10.4.3 India
10.4.3.1 Ongoing Modernization and Expansion of Healthcare Infrastructure and Growing Medical Tourism to Support Market Growth
10.4.4 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.1.1 Increasing Incidence of Hepatocellular Carcinoma and Cerebral Aneurysm to Drive the Adoption of Embolization Products
10.5.2 Rest of Latin America
10.6 Middle East & Africa

11 Competitive Landscape
11.1 Introduction
11.2 Market Share Analysis
11.2.1 Market Share Analysis for Microspheres (2018)
11.2.2 Market Share Analysis for Embolization Coils (2018)
11.3 Competitive Situation and Trends
11.4 Competitive Leadership Mapping
11.5 Vendor Inclusion Criteria
11.6 Vendor Dive
11.6.1 Visionary Leaders
11.6.2 Innovators
11.6.3 Dynamic Differentiators
11.6.4 Emerging Players

12 Company Profiles
12.1 Abbott Laboratories
12.2 Acandis GmbH
12.3 Balt Extrusion
12.4 Boston Scientific Corporation
12.5 BTG PLC
12.6 Cook Medical
12.7 Johnson & Johnson
12.8 Kaneka Corporation
12.9 Medtronic PLC
12.10 Meril Life Sciences Pvt. Ltd.
12.11 Merit Medical Systems
12.12 Penumbra Inc.
12.13 Sirtex Medical Limited
12.14 Stryker Corporation
12.15 Terumo Corporation

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