Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 3.67 Billion

CAGR (2023-2028)

8.35%

Fastest Growing Segment

Embolic Agents

Largest Market

North America


Market Overview

Global Embolotherapy Market has valued at USD 3.67 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8.35% through 2028. Embolotherapy is a minimally invasive treatment that selectively restricts blood flow to targeted areas. It is an endovascular procedure utilized to occlude abnormal blood vessels, effectively controlling or ceasing bleeding. In urgent cases of severe hemorrhage, Embolotherapy has emerged as a viable alternative to invasive surgery. This treatment option has gained widespread recognition and is performed globally by interventional radiologists in various clinical settings. The applications of Embolotherapy have expanded significantly, particularly in cutting-edge procedures such as prostatic artery embolization (PAE) for benign prostatic hyperplasia and gastric artery embolization (GAE) for weight loss. Both of these procedures serve as effective treatment options for their respective conditions. PAE, in particular, is performed worldwide in over 800 procedures annually to address lower urinary tract symptoms (LUTS) caused by BPH. Furthermore, Embolotherapy is employed in the management of chronic pain conditions in the musculoskeletal system, including osteoarthritis, frozen shoulder, and overuse injuries. Its application in treating uterine fibroids has shown a success rate of approximately 85% globally. Additionally, it is utilized in the treatment of specific types of cancer, notably liver cancer.

Key Market Drivers

Growing Target Patient Population

Cardiovascular disease (CVD) is a significant target ailment, and its importance and high prevalence have made it a focal point for research into successful and effective treatments. In 2017, peripheral vascular diseases affected over 200 million individuals worldwide. According to the same source, the prevalence of these diseases rises with age, with a prevalence rate of over 20% in those aged 80 and above. The increasing demand for Embolotherapy devices will be driven by the notable success rate and low postoperative complication rate associated with Embolotherapy procedures, coupled with the rising incidence of liver cancer and hepatocellular cancer. Liver cancer ranks as the fifth most common cancer in men and the ninth most common cancer in women, with over 840,000 new cases diagnosed worldwide in 2018 (source: World Cancer Research Fund). Furthermore, kidney cancer incidence rates in the United Kingdom have witnessed a significant 42% increase over the past decade, with males experiencing a 38% incidence rate and females a 44% rate.

Rising Patient Preference for Minimally Invasive Procedures

The prevalence of minimally invasive surgeries is on the rise as patients increasingly opt for these procedures due to their associated benefits, including reduced postoperative pain, fewer complications, shorter hospital stays, and quicker recovery times. In the realm of early-stage breast cancer treatment, noninvasive or minimally invasive alternatives to surgery are being developed. One such example is Trans Arterial Chemo Embolization (TACE), a minimally invasive procedure commonly used for hepatocellular carcinoma treatment in asymptomatic and unresectable cases. TACE is employed to shrink tumor size and render patients eligible for liver transplantation, representing an evolution from the previously utilized technique known as Trans-catheter Arterial Embolization (TAE). Additionally, Prostatic Artery Embolization (PAE) serves as a minimally invasive therapy for benign prostatic hyperplasia (BPH) and its associated lower urinary tract symptoms (LUTS). PAE is performed as an elective outpatient technique and has seen a notable increase in patient utilization in recent years. Overall, the growing preference for minimally invasive procedures is contributing to the expansion of the embolotherapy market.

Funding & Investments by Government and Private Organizations

Adequate funding allows researchers and medical professionals to explore, develop, and refine new medical procedures like embolotherapy. Research investments can lead to innovative techniques, improved technologies, and enhanced safety protocols, making the therapy more effective and appealing to patients and healthcare providers. Funding supports the conduct of clinical trials to evaluate the safety and efficacy of new therapies. Positive trial results can provide evidence of the therapy's benefits, instilling confidence in medical professionals and patients and driving demand for its adoption. Investments in training programs and medical education help disseminate knowledge about new therapies among healthcare professionals. Well-trained healthcare providers are more likely to recommend and administer the therapy, increasing patient demand. Government funding and support can influence insurance coverage and reimbursement policies for medical procedures. If embolotherapy is proven effective, insurance coverage can make it more accessible to a larger patient population, thus increasing demand.

Technological Advancements in Embolotherapy Devices

Technological advancements have significantly transformed the field of embolotherapy, leading to the development of more precise, effective, and minimally invasive devices. Microcatheters are thin, flexible tubes used to navigate intricate blood vessels. Technological improvements have led to the development of microcatheters with enhanced steerability, trackability, and flexibility, allowing physicians to reach challenging anatomical locations more accurately. Advanced imaging techniques, such as 3D rotational angiography and cone-beam CT, offer real-time visualization of blood vessels. These technologies aid physicians in precise device placement, reducing the risk of complications. Navigation systems integrate real-time imaging with navigation tools, providing physicians with 3D guidance during catheterization. These systems enhance accuracy, safety, and efficiency in embolotherapy procedures. Robotic systems have been introduced to assist in catheter navigation and positioning, enhancing precision and reducing radiation exposure for both patients and healthcare providers. Advanced visualization tools, such as augmented reality (AR) and virtual reality (VR), can help guide catheterization and device placement, improving accuracy and procedural outcomes. Many modern embolotherapy devices incorporate safety features, such as improved anchoring mechanisms and reduced risk of device migration. These technological advancements have revolutionized the field of embolotherapy by improving procedural outcomes, patient safety, and recovery times. As technology continues to evolve, the field of embolotherapy is likely to see further innovations that enhance the precision, effectiveness, and accessibility of these procedures.