How is Increasing Cancer Prevalence Propelling Embolotherapy Market?

Embolotherapy Market To Generate $6,447.1 Million
Revenue by 2030
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A number of factors, such as the rising incidence of lifestyle-associated and chronic illnesses, growing
aging population, surging patient pool, increasing healthcare spending, growing medical tourism
industry, and enhancing healthcare infrastructure, are projected to propel the growth of the
embolotherapy market at CAGR of 7.7% during the forecast period (2020–2030). According to P&S
Intelligence, the market size is expected to reach $6,447.1 million by 2030 from $3,082.9 million in 2020.
Moreover, the market is witnessing a trend of product launches and approvals, across the globe.
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One of the prime factors propelling the demand for embolotherapy is the rising incidence of lifestyleassociated
and chronic illnesses. The number of cases of chronic diseases, such as diabetes, stroke,
metabolic syndrome, various types of cancer, and chronic obstructive pulmonary disease, is increasing
rapidly, due to the prolonged exposure to smoking, alcohol consumption, unhealthy diet, and physical
inactivity. These diseases lead to a high healthcare burden across the world. For the treatment of these
chronic diseases, advanced medications and therapies, including embolotherapy, are required. Thus,
this factor drives the market growth.
The product segment of the embolotherapy market is categorized into support devices and embolic
agents. Of these, the embolic agents category generated the higher revenue in 2020, and it is also
projected to record the faster growth in the coming years. This can be attributed to the high usage of
embolic agents in several interventional radiology procedures. Moreover, the developments of
innovative embolic agents, including drug-eluting microspheres, radioactive yttrium-90 (Y-90)
microspheres, and calibrated microspheres for bland embolization, for the management of primary and
secondary liver diseases, drives the market growth in this category.
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Geographically, North America accounted for the largest share in the embolotherapy market in 2020,
and it is expected to witness the same trend during the forecast period. This will be due to the rise in the
geriatric population, technological advancements, increase in the prevalence of chronic diseases,
improvements in the healthcare infrastructure, high disposable income, and development of advanced
embolic agents by Stryker Corporation, Guerbet, Sirtex Medical Limited, Terumo Corporation, Meril Life
Sciences Pvt. Ltd., Merit Medical Systems Inc., Medtronic Plc, Johnson & Johnson, Kaneka Corporation,
Boston Scientific Corporation, and Abbott Laboratories.
Thus, the rising incidence of lifestyle-associated and chronic diseases and the surging aging population
will propel the market growth across the world during the forecast period.
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