COVID-19 Impact on the Global Embolotherapy Market

Greater availability of reimbursements for target procedures in the US and major European countries are the major factors that are expected to drive the demand for embolization devices in hospitals and clinics.

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. Thus, screening, diagnostic exams, and surgical procedures are being severely restricted or postponed at hospitals and cancer care centers. This is expected to cause disruption in the embolotherapy market. 

 

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. 

 

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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. 

 

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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. 

 

Healthcare markets are witnessing a dearth of well-trained surgeons (including neurosurgeons and radiologists). The Association of American Medical Colleges (US) has estimated a deficit of 41,000 general surgeons in the US by 2025 (Source: Association of American Medical Colleges US, 2017). 

 

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The embolotherapy market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East Africa. Improving healthcare infrastructure in the region, the large patient population for target diseases, and expanding presence of key market players in the region to grab elevating opportunities offered by these countries are the key factors supporting the market growth in this region. 

 

Key Market Players

The major players in the embolotherapy market are Boston Medical Corporation (US), Terumo Medical Systems (Japan), Medtronic (US), Johnson Johnson (US), and Stryker Corporation (US). Other key players in the embolization therapy market include Sirtex Medical Limited (US), Abbott Laboratories (US), Acandis GmbH (Germany), Balt (France), Cook Medical (US), Kaneka Corporation (Japan), Penumbra, Inc. (US)


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