Global Embolotherapy Market: Overview
The European Conference on Embolotherapy, held in Valencia in June, shed light on some of the modern-day practices in healthcare and medicine. The conference was attended by over 800 medical experts who discussed contemporary techniques and practices for conducting embolization procedures. This conference acted as a means to popularise embolotherapy across the globe, and generate awareness about embolization amongst the masses. It is expected that the global embolotherapy market would expand at a respectable pace in the years to follow.
The future of embolization procedures lies in the ability of researchers to foster innovation and embrace the latest technologies. It is projected that the total value of the global embolotherapy market would reach unprecedented values in the years to come. This is partly due to the rising incidence of chronic diseases, and majorly because of the adoption of better practices in healthcare and medicine. The relevance of embolization is not limited to a particular domain within medicine. It can be used to prevent haemorrhaging in various parts of the body. This factor has played an integral role in the growth of the global embolotherapy market.
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Expansion of the catheters market shall play an integral role in expediting the growth of the globalembolotherapy market. Furthermore, the presence of a seamless medical fraternity shall augment advancements in embolotherapy. A syndicate report by Transparency Market Research (TMR) on the global embolotherapy market offers key value propositions for market growth. The global embolotherapy market is segmented on the basis of the following parameters: product, disease, procedure, end-user, and region. Based on disease, the use of embolotherapy for treating aneurysm has gained momentum in recent times.
Global Embolotherapy Market: Notable Developments
The global embolotherapy market is treading along a lucrative growth path, and several developments have housed this market in recent times.
- Boston Scientific Corporation has shown spontaneity in introducing new business strategies for growth and development. In 2019, the company acquired UK’s BTG plc. with the intent to expand it global presence. The distinct treatment portfolio of Boston Scientific Corporation has also helped the company in gaining the trust of the consumers.
- Merit Medical Systems, Inc. is a renowned manufacturer of medical devices and products. The company is also a key provider of embolotherapy devices, under its oncology segment. The emergence of such companies has largely helped in popularising embolotherapy across global medical centers.
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Some of the leading vendors operating in the globalembolotherapy market are:
- Medtronic plc (Ireland)
- Stryker Corporation (US)
- Johnson & Johnson (US)
- BTG plc (UK)
- Cook Medical (US)
- Penumbra, Inc. (US)
- Abbott Laboratories (US)
Global Embolotherapy Market: Growth Drivers
- Need for Advancements in Oncology
The domain of oncology has undergone rapid advancements in the past decades. However, the medical fraternity is constantly looking for pathways to treat cancers and prevent the development of tumours. This factor has played an integral role in propelling demand within the global embolotherapy market. Furthermore, the need for following stricter standards for invasive treatments, such as insertion of balloons in arteries, has also influenced market growth.
- Presence of Wide Range of Products
The process of embolization is carried out with the help of a range of devices and aids. Hence, the large number of products available in the global embolotherapy market has aided the growth of the market. Some of the key devices used for embolotherapy are microspheres, embolic coils, and embolic plug systems.
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