What are Latest Technologies in Embolotherapy Market?

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Rising Incidence of Chronic Illnesses Driving
Demand for Embolotherapy
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With the surging population of patients seeking
treatment for renal cell carcinoma (RCC),
aneurysms, varicose veins, and hepatocellular
carcinoma (HCC), the demand for embolotherapy is
rising sharply across the world. As per the
Centers for Disease Control and Prevention (CDC),
aortic aneurysms claimed the lives of 9,923
people in the U.S. in 2018. This showed that the
medical needs for these procedures were unmet in
the country. Besides, the growing incidence of
lifestyle-associated and chronic diseases is also
positively impacting the worldwide demand for
embolotherapy. Lifestyle behaviors, such as
unhealthy eating habits, consumption of alcohol,
smoking, and lack of physical activity, causes
chronic illnesses, such as diabetes, stroke,
metabolic syndrome, several types of cancer, and
chronic obstructive pulmonary disease. These
diseases are rapidly becoming a major healthcare
burden for both low- and middle-income countries
(LMICs) and high-income countries. Central
nervous system disorders, hepatitis, and cancer
are some of the chronic ailments that need
advanced treatment procedures.
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Apart from the above-mentioned factors, the
booming medical tourism sector is also fueling
the expansion of the global embolotherapy market,
as a result of which, the market revenue is
predicted to surge from 3,082.9 million in 2020
to 6,447.1 million by 2030, demonstrating a CAGR
of 7.7 from 2020 to 2030. Between embolic agents
and support devices, the demand for the former
was found to be higher during the last few years,
on account of their extensive use in several
interventional radiology procedures. Further,
the development of advanced embolic agents, such
as calibrated microspheres for bland
embolization, radioactive yttrium-90 (Y-90)
microspheres, and drug-eluting microspheres for
treating primary or secondary live disease, is
expected to propel their popularity globally in
the coming years. Transarterial chemoembolization
(TACE), transarterial radioembolization
(TARE)/selective internal radiation therapy
(SIRT), and transcatheter arterial embolization
(TAE) are the major embolization procedures.
Amongst these, the requirement for the TAE
procedure was observed to be the highest in the
years gone by, and its demand is expected to
surge sharply in the coming years as well.
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The players operating in the embolotherapy market
are focusing on regulatory approvals and product
launches for gaining an edge over their rivals
and bolstering their position. For instance, Cook
Medical LLC developed the 2.6 Fr CXI support
catheter for super-selective anatomy or
small-vessel anatomy for interventional and
diagnostic procedures. Similarly, Terumo Europe
announced in January 2019 that its product
QuiremScout has received the CE mark, which
subsequently made the product available all over
Europe. Hence, it can be safely said that the
demand for embolotherapy will soar in the coming
years, mainly because of the rising incidence of
lifestyle-associated and chronic diseases and the
mushrooming population of geriatric people across
the globe.
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