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).
Another major driver for the embolotherapy market is the booming geriatric population. Elderly people are more prone to chronic diseases, especially cancer and cardiovascular diseases (CVDs), which is why they account for a high hospitalization rate. Moreover, due to their weak biological functions, many elderly are poor candidates for proper invasive surgeries, as their tissues can take months to heal, as could natural blood coagulation. Therefore, many are now undergoing embolization, as it is a minimally invasive procedure carried out via microcatheters.
Additionally, on the basis of procedure, the embolotherapy market is classified into transcatheter arterial embolization (TAE), transarterial radioembolization (TARE) / selective internal radiation therapy (SIRT), and transarterial chemoembolization (TACE). Among these, the TAE category accounts for the largest market share, and it is also projected to witness the fastest growth during the forecast period. This can be ascribed to the fact that TAE is well-tolerated and effective in patients suffering from ruptured hepatocellular carcinoma (HCC) and due to the increasing requirement for minimally invasive procedures, especially by the surging geriatric population.
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.
Detailed Analysis of the Embolotherapy Market Size
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
