Transarterial Chemoembolization (TACE) Market Research Report: By Procedure Type (Conventional TACE, DEB-TACE), Indication (Unresectable HCC, Early-Stage HCC), Product Type (Chemotherapeutic Agents, Radiotherapeutic Agents, Drug-eluting Particles), End-User (Hospitals & Clinics, Cancer Research Centers) - Forecast to 2027
Transarterial Chemoembolization (TACE) Market is expected to cross USD 2777.22 Million by 2025 at a CAGR of 8.57%.
Market Influencer:
Improvement in the reimbursement scenario and increasing incidence of HCC are impacting the growth of the market. HCC accounts for approximately 70% to 90% of all primary liver cancers and is the third most fatal cancer worldwide. Moreover, Lipiodol is approved for National Health Insurance reimbursement for transcatheter arterial chemoembolization for HCC.
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Key Players:
- Advaxis Inc
- Baxter
- Bellicum Pharmaceuticals, Inc
- Boston Scientific Corporation
- Cook
- Hikma Pharmaceuticals PLC
- Isofol Medical AB
- Nippon Kayaku Co
- Novartis
- Sirtex SIR-Spheres Pty Ltd
- Spectrum Pharmaceuticals
- Jiangsu Hengrui Medicine Co
Regional Analysis:
Americas: The largest regional market for transarterial chemoembolization, the Americas has a well-established healthcare industry, with the increasing preference for early diagnosis. Increased R&D funding is also propelling the Americas market growth in the region.
North America: The North American market is divided into the US and Canada.
US: The larger market in North America. Healthcare expenditure in the US was over USD 3.65 trillion in 2018. Moreover, increasing awareness about HCC and early diagnosis are also boosting the transarterial chemoembolization market in this country. The American Association for the Study of Liver Diseases thus recommends hepatic imaging every six months among patients at risk for HCC
Europe: Rising healthcare expenditure is one of the key drivers in Europe transarterial chemoembolization (TACE) market. The European Commission (EC) reported that in 2017, the total government expenditure in the European Union (EU) accounted to 45.8% of the gross domestic product (GDP) and government expenditure on health as a proportion of GDP was 7.0%
Asia-Pacific: The fastest-growing regional market for Transarterial chemoembolization due to the increasing incidence of HCC in this region.
Japan: Japan held the largest revenue share in the Asia-pacific region in 2018 due to presence of better reimbursement policies. For instance, in November 2013, Guerbet Japan announced that Lipiodol is approved for National Health Insurance reimbursement for Transcatheter Arterial Chemoembolization (TACE) for HCC
Middle East & Africa: Limited medical infrastructure limits the size of the regional transarterial chemoembolization market. However, the presence of favorable government initiatives is expected to fuel the growth of the market during the forecast period.
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