Embolization Particle Market Size, Growth and Share Analysis By Product Type (Radioembolization & Drug Eluting Beads), Application, (Oncology, Peripheral Vascular Disease, Neurology), Level of Occlusion (Proximal) End User (Hospitals & Clinics) – Global Forecast till 2023
Embolization Particle Market Highlights
The global embolization particle market size is expected to secure 1.90 billion by 2023, at a CAGR of 9.64% over the review period (2017-2023). During the prognosis period, the embolization particle market expects healthy growth. The rising use of embolization procedures as a treatment for diseases other than cancer, such as vascular malformations and fibrosis, is fueling the worldwide market for embolization particles. Global market growth is also supported by the continuous introduction of technically advanced products with enhanced efficiency.
Thanks to the potential of medical practitioners to perform surgery with embolization particles, the demand for embolization particles is growing. With the increasing number of cases of vascular malformations and fibrosis, the scope of development for the market for embolization particles continues to increase. It is estimated that rising the amount of support for businesses that produce technically innovative technologies would also have a positive effect on the long-term development of the sector. The growth in the number of qualified practitioners in the medical field has boosted the results of numerous surgeries.
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However, fewer interventional neuroradiologists and interventional neuroradiology (INR) laboratories and tight regulatory rules during the forecast period may impede market development.
Embolization Particle Market Segmental Analysis
The global embolization particle market is segmented depending on the form of substance, use, occlusion level and end user.
The embolization particle market is further bifurcated into radioembolization and drug-eluting beads depending on the product form. In 2016, radio embolization accounts for the largest market share and is projected to grow at a CAGR of 10.01% over the review period.
The industry is segmented into oncology, urology, peripheral vascular disease, neurology, and others on the basis of applications.
The embolization particle market is divided into proximal and distal, on the basis of the extent of occlusion.
The embolization particle market is segmented into hospitals & clinics, outpatient care and others, on the basis of end users.
Embolization Particle Market Regional Overview
Due to the presence of strong economic conditions, enormous development in the healthcare field, and the focus of research institutions on updating technology for new and advanced diagnostic and treatment methods, the Americas dominate the worldwide embolization particle market. In addition, advanced hospital technology and the availability of trained healthcare practitioners are also contributing fuel to the market’s expansion. The major share of the embolization particle market is owned by the Americas and is forecast to hit USD 703.13 million by 2023.
Europe ranks second in the industry, with growing focus on fast cancer detection and care, evolving lifestyles and growing cancer prevalence among the geriatric population.
Asia Pacific is the fastest growing market due to the larger number of developing countries in this region, such as countries such as India and China. The growth of the healthcare domain is supported by these countries. In addition , the rising cancer patient demographic in developed countries will directly raise the need for new types of diagnosis and treatment, which in turn will fuel business growth. Asia Pacific is the world’s fastest-growing country and is expected to rise at a rate of 10.11% CAGR during the forecast period.
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Due to lower availability of medical facilities and less development in the healthcare field, the Middle East & Africa is poised to hold the least market share. Countries like Qatar and Kuwait, however, are concentrating more on the healthcare sector and expanding medical facilities, which will improve the region ‘s market.
Embolization Particle Market Competitive Dynamics
Some of the key players in embolization particle market are Boston Scientific Corporation, Guerbet, BTG International Ltd, Medtronics, Sirtex, Terumo, and Merit Medical. The growth of the industry is further driven by the expansion of a solid supply chain. Because of the launch of new goods or the intensification of the gross sales of industry participants, the growth of the market is going in a promising direction.
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