Embolotherapy Market Share, Growth and Forecast Report | P&S Intelligence
Irrespective of the economic standing of the countries, the growing burden of chronic diseases has become a major cause of worry for governments across the globe. Changing lifestyle and degrading quality of the environment has resulted in the increased prevalence of chronic diseases, such as cancer, cardiovascular diseases, hepatitis, and disorders of the nervous system. The World Health Organization reported that in 2018, about 9.6 million deaths occurred due to cancer, globally. In another study, conducted by the American Society of Clinical Oncology, in the 2006–2015 period, an approximate annual increase of 3% in liver cancer cases was observed in the US.
The deliberate occlusion of vessels with the help of different embolic agents, such as glue, balloons, and coils is referred to as embolization. Embolotherapy is carried out for various purposes, such as devascularization of organs, bleeding control, reduction of tumors, and elimination of vascular malformations. This is performed while treating numerous conditions, such as gastrointestinal disorders, urological & nephrological disorders, neurological disorders, peripheral vascular diseases, and cancer. During 2014–2018, embolotherapy was most extensively used in the treatment of cancer. In the coming future, cancer would continue being the largest application area for embolotherapy. In the forecast period (2019–2024), the embolotherapy market is predicted to register an 8.0% CAGR.
Due to the rising number of diseases, the demand for embolotherapy is also surging. People are commonly suffering from renal cell carcinoma, hepatocellular carcinoma (HCC), aneurysms, and varicose veins. A study published in September 2018 mentioned that the most common liver cancer type is HCC, and is responsible for the growing number of deaths, especially in the African and Asian regions. Further, as majority of the patients suffering from HCC, aren’t diagnosed at the early stages, they fail to respond to curative therapies, such as surgical resection, ablation, and liver transplantation. In such cases, catheter-based image-guided embolotherapy has become a standard procedure, which is even recommended by numerous regulatory bodies.
Various life-threatening conditions, such as arteriovenous malformations, aneurysms, and strokes, are being treated with several embolic agents that are available in the market, such as absorbable gelatin pledgets and powder, stainless steel coils, ethanol, polyvinyl alcohol foam, and glue. Many manufacturers are working for the development of liquid embolic agents that can be used in the treatment of other diseases besides HCC. In October 2018, for their product named the Magic Glue, Balt International Received the CE mark. This product is a next-generation cyanoacrylate liquid embolic agent, which is used in the embolization of arteriovenous malformations.