Embolotherapy Market

BTG plc (UK) and Stryker Corporation (US) are Leading Players in the Embolotherapy Market

The embolotherapy market is projected to reach USD 4.9 billion by 2024 from USD 3.3 billion in 2019, at a CAGR of 8.1% from 2019 to 2024. The growth of this market is attributed to the growing target patient population, rising preference for minimally invasive procedures, technological advancements in embolotherapy devices, and favorable reimbursement scenario. However, a lack of sufficient evidence for the efficacy of embolotherapy and the preference for alternative procedures are hindering the growth of the market.

The major players in the market include Boston Scientific Corporation (US), Stryker Corporation (US), Merit Medical Systems (US), Terumo Corporation (Japan), Medtronic plc (Ireland), BTG plc (UK), Abbott Laboratories (US), Johnson & Johnson (US), Penumbra, Inc. (US), Cook Medical (US), Kaneka Corporation (Japan) Acandis GmbH (Germany), BALT Extrusion (France), Sirtex Medical Limited (Australia), and Meril Life Sciences Pvt., Ltd (India).

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An analysis of market developments between 2016 and 2019 revealed that several growth strategies such as product launches and enhancements, partnerships, agreements, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the embolotherapy market. Product launches were the most widely adopted growth strategies by market players.

BTG plc (UK): In 2018, BTG dominated the microspheres market. Its Interventional Oncology division is the major revenue-generating segment of the company through which embolotherapy products are offered. The company has adopted both organic as well as inorganic strategies to maintain its position in the microspheres market. In the last three years, BTG launched various products, namely, LC Bead Lumi and DC Bead & Bead Block, to expand its product portfolio.

Stryker Corporation (US): Stryker Corporation (Stryker) is among the key players operating in the embolic coils market. Stryker is engaged in the development, manufacturing, marketing, and distribution of medical products across the globe. Through its Neurotechnology & Spine segment, the company offers embolotherapy products, which include guidewires, microcatheters, and detachable coils. Under this segment, the company offers its Target series of embolic coils, including Target XL Coils, Target XXL Coils, Target 360 Coils, Target Nano Coils, and 3D Coils for neurological conditions.

Related Reports:

Embolotherapy Market by Product (Embolic Agents (Microspheres, Detachable Coils, Pushable Coils), Guidewires), Disease (Oncology, Aneurysm, Peripheral Vascular), Procedure, End User (Hospitals, Clinics, ASC, Academia) - Global Forecast to 2024

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Report Code
MD 7279
RI Published ON
8/2/2019
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