Report : South & Central America Embolotherapy Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Embolic Agent and Support Device), Disease Indication (Cancer, Peripheral Vascular Disease, Neurological Disease, Urological and Nephrological Disorder, Gastrointestinal Disorder, and Other), Procedure [Transcatheter Arterial Embolization (TAE), Transcatheter Arterial Radioembolization (TARE)/Selective Internal Radiation Therapy (SIRT), and Transarterial Chemoembolization (TACE)], and End User (Hospital & Clinic, Ambulatory Surgery Center, and Other End User)
At 8.8 CAGR, the South & Central America Embolotherapy Market is speculated to be worth US$ 339.16 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America embolotherapy market was valued at US$ 230.83 million in 2022 and is expected to reach US$ 339.16 million by 2028, registering an annual growth rate of 6.6% from 2022 to 2028. Broadening patient preference for minimally invasive procedures and burgeoning incidence of cancer cases.
The number of minimally invasive surgeries is rising as patients increasingly prefer such surgeries due to their lower postoperative pain, postoperative complications, shorter hospital stays, fast recovery times, etc. Noninvasive or minimally invasive treatments are being developed as alternatives to surgery for patients with early-stage breast cancer. For instance, Trans Arterial Chemo Embolization, also known as TACE, is a minimally invasive procedure that is typically used to treat hepatocellular carcinoma. TACE is for patients with asymptomatic and unresectable liver cancer. TACE can be used to diminish the size of the tumor and make the patient eligible for liver transplantation. It is considered an evolution from a formerly applied technique called Trans-catheter Arterial Embolization (TAE). Bleeding is a common issue in cancer patients, related to local tumor invasion, tumor angiogenesis, systemic effects of cancer, or anti-cancer treatments. TACE involves a two-step process—selective arterial occlusion restricts the blood supply to the tumor, which causes ischemic tumor necrosis, and regional chemotherapy is arranged that helps the drug to remain in the area for a prolonged period, which starts causing the therapeutic effects. Prostatic artery embolization (PAE) is also a minimally invasive therapy implemented as an elective outpatient technique for lower urinary tract symptoms (LUTS) secondary to benign prostatic hyperplasia (BPH). The number of patients treated with PAE has grown in recent years. Thus, the increasing preference for minimally invasive procedures is fueling the embolotherapy market growth.
On the contrary, access of other alternative therapies.
- Based on product, the South & Central America embolotherapy market is segmented into embolic agents and support devices. The embolic agents segment held 82.6% market share in 2022, embolic agents US$ 190.73 million. It is projected to garner US$ 282.36 million by 2028 to expand at 6.8% CAGR during 2022–2028.
- Based on Disease Indication, the South & Central America embolotherapy market is categorized into cancer, neurological diseases, urological and nephrological disorders, peripheral vascular diseases, gastrointestinal disorders, and others. The cancer segment held 24.0% market share in 2022, amassing US$ 55.48 million. It is projected to garner US$ 84.02 million by 2028 to expand at 7.2% CAGR during 2022–2028.
- Based on procedure, the South & Central America embolotherapy market is segmented into transcatheter arterial embolization (TAE), transcatheter arterial radioembolization/selective internal radiation therapy, and transarterial chemoembolization (TACE). The transcatheter arterial embolization segment held 51.3% market share in 2022, amassing US$ 118.45 million. It is projected to garner US$ 177.59 million by 2028 to expand at 7.0% CAGR during 2022–2028.
- Based on end user, the South & Central America embolotherapy market is segmented into hospitals and clinics, ambulatory surgical centers, and other end users. The hospitals and clinics segment held 71.9% market share in 2022, amassing US$ 166.02 million. It is projected to garner US$ 245.48 million by 2028 to expand at 6.7% CAGR during 2022–2028.
- Based on country, the South & Central America embolotherapy market has been segmented into Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 62.0% market share in 2022. It was assessed at US$ 143.20 million in 2022 and is likely to hit US$ 213.89 million by 2028, exhibiting a CAGR of 6.9% during the forecast period.
Key players dominating the South & Central America embolotherapy market are Abbott Laboratories; Boston Scientific Corporation; Cook Medical LLC; Johnson & Johnson; Medtronic; Acandis GmbH; Balt USA LLC; Stryker Corporation; Guerbet LLC; and Terumo Corporation among others.
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