Increasing incidences of peripheral vascular diseases, liver cancer, strokes, and uterine fibroids coupled with rising preference for minimally invasive procedures; increasing investments, funds, and grants by public-private organizations for research; and technological advancements in the market will fuel the market growth over the forecast period.
The embolotherapy market is witnessing a loss of business, and the trend is expected to continue till December 2020. Unfavorable changes in regulations and guidelines are hampering the growth of this industry. Major regulatory authorities across the globe (such as CDC, WHO, MHRA, TGA, and EMA) have identified that cancer patients are at greater risk of COVID-19 infection than healthy adults.
The embolotherapy devices market has experienced steady growth over the last decade, owing to the growing target patient population base, which has increased the number of target surgeries performed.
𝐆𝐞𝐭 𝐌𝐨𝐫𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐆𝐫𝐚𝐛 𝐏𝐃𝐅 @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=185897830
The high success rate and less post-operative complication rate associated with embolotherapy procedures coupled with the rising incidences of liver cancer and hepatocellular cancer will further boost the demand for embolotherapy devices in the near future. Liver cancer is fifth-most-common cancer in men and the ninth-most-common in women.
Globally, there were over 840,000 new cases diagnosed in 2018. (Source: World Cancer Research Fund). Furthermore, over the last decade, kidney cancer incidence rates increased by 42% in the UK. In females, the incidence rates increased by 44%, while there was a 38% incidence rate in males. (Source: Cancer Research UK).
The availability of effective conventional first-level therapies for the treatment of liver cancer, uterine fibroids, hemorrhagic stroke, and other hemorrhagic conditions is a key restraint to market growth.
Embolotherapy market is classified into cancer, peripheral vascular diseases, neurological diseases, urological & nephrological disorders, and gastrointestinal disorders. The cancer segment commanded the largest share of the market in 2020, and the same segment will grow at the highest CAGR over the forecast period between 2021 and 2026.