Embolization Particle Market - Scenario
The Global Embolization Particle Market Is Expected To Grow At A CAGR Of 9.64% During The Forecast Period 2018-2023. Embolization is a minimally invasive therapy to stop bleeding as well as to stop blood flow to a tumor in order to shrink it or in preparation for removal. In this procedure, some embolized particles or substances are injected into the veins of the patients to block or reduce the blood flow to cancer cells. Embolization is an option for some patients with tumors that cannot be removed by surgery.
It can be used for tumors that are too large to be treated with ablation (usually larger than 5 cm thickness). It can also be used with ablation. Embolization does reduce some of the blood supply to the normal liver tissue, so it may not be a good option for some patients whose liver has been damaged by diseases such as hepatitis or cirrhosis. Embolization is used in many procedures as a part of interventional radiology.
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The embolization particle market is expecting a healthy growth during the forecast period. With the growing use of embolization technique as a treatment for conditions other than cancer such as vascular malformations and fibrosis is fuelling the demand for embolization particles globally. Continuous introduction of technically advanced products with enhanced efficiency is also supporting the global market growth.
According to World Health Organization, an estimated 17.7 million people died from cardiovascular diseases in 2015, representing 31% of all global deaths
Total number of global volume of cardiovascular procedures is expected to increase on average by 3.7% per year to over 18.73 million corresponding to surgeries and transcatheter interventions in the year 2022
However, less number of interventional neuroradiologists and interventional neuroradiology (INR) labs and strict regulatory rules may hamper the market growth during the forecast period.
Embolization Particle Market - Key Findings:
The market for embolization particle is expected to reach around USD 1,909.76 million by 2023.
Radioembolization accounts the largest market share in 2016 and which is projected grow at a CAGR of 10.01% during the forecast period from 2017-2023.
Americas hold the largest share of the embolization particle market and is expected to reach USD 703.13 million by 2023.
Asia Pacific is the fastest growing region across the globe and expected to grow at a rate of CAGR 10.11% during the forecast period.
Embolization Particle Market - Top Players:
Boston Scientific Corporation
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Global Embolization Particle Market - Segmentation:
The global embolization particle market is segmented on the basis of product type, application, level of occlusion and end user.
On the basis of the product type the embolization particle market is further segmented into radioembolization and drug eluting beads.
On the basis of applications, the market is segmented into oncology, urology, peripheral vascular disease, neurology, and others.
On the basis of level of occlusion the market is segmented into proximal and distal.
On the basis of end user, it is segmented into hospitals & clinics, ambulatory services and others.
Global Embolization Particle Market Regional Analysis:
The Americas dominate the global embolization particle market owing to the presence of strong economic condition, huge development in the healthcare domain, and focus of research institutions on updating technology for new and advanced diagnosis and treatment methods. Moreover, advanced hospitals infrastructures, and availability of skilled healthcare professional is further adding fuel to the growth of the market.
Europe holds the second position in the market on the basis of increasing emphasis on rapid diagnosis and treatment of cancer, changing lifestyle, increasing prevalence of cancer among geriatric population. As per the Organization for Economic Co-operation and Development (OECD), Germany spent 11% of the total GDP on healthcare in 2013, which was 10.8% in 2012, which drives the growth of the market in this region.
Asia Pacific is the fastest growing market owing to more number of developing nations present in this region, for instance, countries like India and China. These countries are encouraging the growth of the healthcare domain. Furthermore, increasing patient population from cancer in developing countries will directly increase the demand for various diagnosis & treatment methods, which, in turn, will boost the growth of the market.
The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on the healthcare domain and developing medical facilities, which will boost the market of this region.
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