How is Expanding Patient Pool Fueling Embolotherapy Market Growth?

According to P&S Intelligence, the market was valued at $3,082.9 million in 2020, and it is projected to generate $6,447.1 million revenue by 2030. In recent years, the rising number of product approvals and launches has become a major market trend.

One of the key growth drivers of the market is the soaring number of patients living with aneurysms, renal cell carcinoma (RCC), hepatocellular carcinoma (HCC), and varicose veins. For example, the Brain Aneurysm Foundation states that around 30,000 people in the U.S. suffer from brain aneurysm every year. Furthermore, the American Cancer Society (ACS) forecasts that a total of 76,080 new cases of RCC or kidney cancer will be recorded in the U.S. in 2021.

The procedure segment of the embolotherapy market is classified into transarterial radioembolization (TARE)/selective internal radiation therapy (SIRT), transcatheter arterial embolization (TAE), and transarterial chemoembolization (TACE). Under this segment, the TAE category is projected to exhibit the fastest growth during the forecast period, due to the surging preference for minimally invasive procedures and booming geriatric population. Moreover, patients suffering from ruptured HCC prefer TAE over TACE and TARE/SIRT, as it is more effective than others.

Globally, North America accounted for the largest share in the embolotherapy market in 2020, and it is expected to maintain its lead during the forecast period as well. This can be primarily ascribed to the surging prevalence of chronic and lifestyle-associated diseases, growing geriatric population, and increasing efforts of market players toward developing advanced embolic agents in the region. Moreover, the presence of an established healthcare ecosystem also facilitates the regional market growth.

Thus, the increasing number of patients suffering from RCC, HCC, and aneurysms and the soaring cases of chronic and lifestyle-associated diseases are expected to drive the demand for emobolotherapy in the forthcoming years.

Comments are closed.