Market Synopsis
Market Research Future (MRFR) speculates that the global embolization particle market is slated to garner USD 1,909.76 million and is estimated to demonstrate a notable CAGR of 9.64% during the forecast period (2017-2023). The rising use of embolization technique as a treatment for vascular malformations is highly influencing the market growth. Embolization is referred to as a minimally invasive therapy to stop the blood flow into the tumor to shrink its size and prepare it for removal. Embolized particles are injected into the veins of the patients to reduce or block the flow of blood to the cancer cells. It is an ideal option for the patients with tumors which can be removed by surgery.
Market Potential and Pitfalls
The market’s course is chiefly directed by the augmenting use of embolization technique as a treatment for cancer, fibrosis, and vascular malformations. There has been a continuous introduction of technically advanced products with enhanced efficiency, which is highly contributing to the growth of the market. Embolization particles are extensively used in treating malignancies like peripheral diseases and cancer. With the increasing incidences of cancer across the globe, the embolization particles market is presumed to flourish. As per the WHO, cancer is considered the second prominent cause of death with maximum deaths occurring due to cancer.
Major market players are continuously introducing technologically advanced products which are highly supporting the growth of embolization particles market. For instance, Sirtex introduced SIR-Spheres Y-90 resin microspheres in 2017 which serves as the first-line treatment for the patients suffering from liver metastases from right-sided primary colon cancer. Moreover, the growing awareness among the people is further leading to an increased demand for embolization particle. Also, the growing number of minimally invasive surgeries and increasing interventional procedure owing to positive results are further contributing to the market growth.
On the contrary, less number of interventional neuroradiology and interventional neuroradiologists labs coupled with the strict regulatory mandates are some of the major concerns considered to vitiate the market growth throughout the appraisal period.
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Global Embolization Particle Market: Segmental Analysis
The global embolization particle market has been segmented on the basis of application, product type, level of occlusion, and end user.
By mode of product type, the embolization particle market has been segmented into drug eluting beads and radioembolization.
By mode of application, the embolization particle market has been segmented into urology, oncology, neurology, peripheral vascular disease, and others. Among these, the peripheral vascular disease is likely to dominate the global market owing to its rising prevalence over the years.
By mode of level of occlusion, the embolization particle market has been segmented into distal and proximal.
By mode of end-user, the embolization particle market has been segmented into ambulatory services, hospitals & clinics, and others. Among these, the hospital’s segment is predicted to constitute a major share as people mostly prefer to visit hospitals for diagnosis and treatment.
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Regional Insights
Geographically, the embolization particle market span across regions namely, Europe, America, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the American region is considered to dominate the global embolization particle market. The presence of a strong economic condition, the high focus of the research institutes on updating technologies for advanced treatment and diagnosis methods, and continuous development in the healthcare sector are influencing the market growth. Additionally, the availability of healthcare professionals and advanced hospital infrastructures are likely to influence the market growth in this region.
The European region holds the second position owing to the changing lifestyle, rapid diagnosis & treatment and diagnosis of cancer, and rising prevalence of cancer, especially among the geriatric population. According to the Organization for Economic Co-operation & Development, in 2013 Germany had spent almost 11% of the total GDP on healthcare. This has further influenced the market growth to a large extent.
The Asia Pacific region will expand at the fastest rate and is likely to retain its growth in the coming years. The growth is mainly due to the presence of developing nations such as China and India in this region. A major chunk of the population from these nations are suffering from cancer which has increased the demand for diagnosis and treatment. Such factors are highly influencing the market growth throughout the appraisal period.
Industry Updates
November 30, 2018: Merit Medical has recently received FDA clearance of 510(k) for its EmboCube embolization gelatin. Used in the embolization of hypervascular tumors, EmboCube features cubes of gelatin foam which are uniformly cut and have been specifically designed to address inconsistent particle sizes and preparation concerns that come with traditional gelatin foam sheets as an embolic.
Competitive Dashboard
The prominent players operating in the embolization particle market are Sirtex, Terumo, BTG International Ltd, Boston Scientific Corporation, Medtronics, Merit Medical, and Guerbet.
TABLE OF CONTENT:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
Chapter 3. Research Methodology
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
Chapter 6. Embolization Particle Market, By Type
Chapter 7. Embolization Particle Market, By Diagnosis
Chapter 8. Embolization Particle Market, By Treatment
Chapter 9. Embolization Particle Market, By End-User
Chapter 10. Embolization Particle Market, By Region
Chapter 11. Company Landscape
Chapter 12 Company Profiles
Chapter 13 MRFR Conclusion
Chapter 14 Appendix
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