Embolization Particle Market –Regional Insights
On the basis of geography, theglobal EmbolizationParticle Market is segmented into North America, Latin America, Europe,Asia Pacific, Middle East, and Africa. North America would be dominant regionin the global embolization particle market in 2017. This is owing to the strongeconomic condition, huge expansion of healthcare domain, and increasing focusof research institutions on modernizing technology for new and advanceddiagnosis and treatment methods. Moreover, unique hospital infrastructures, andavailability of skilled healthcare professionals is further aiding growth ofthe market.
On the other hand, Asia Pacificis expected to witness significant growth in embolization particle marketduring the forecast period, owing to increasing patient population (mainlycancer) in emerging economies such as India. For instance, according to IndianCouncil Medical Research (ICMR), it is expected that over 17.3 lakh new cancercases and over 8.8 lakh deaths will occur in India due to cancer by 2020.Moreover, growing focus by government on enhancing healthcare facilities andbooming medical tourism is expected to boost growth of the embolizationparticle market in this region.
Embolization is a minimallyinvasive therapy in which an embolus is injected to stop bleeding or to cut offthe supply of blood to a tumor in order to shrink it for preparation of itsremoval. Embolization is used in various interventional radiology procedures.In this procedure, an interventional radiologist uses image guidance to insertthe catheter into a primary artery and advance it to vessel leading to a tumoror other part where the blood supply needs to be blocked. Embolization is anoption for some patients with tumors that cannot be removed by surgery. It canbe used for tumors that are usually larger than 5 cm thickness and cannot beremoved by ablation. This procedure is used to treat various types of canceroustumors, hemorrhages, along with the management of malignant hypertension causedby renal failure.
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Embolization procedure uses varioustypes of embolization particles such as radioembolization spheres,microspheres, drug eluting beads, PVA particles, gelfoam particles, and otherparticles. These particles are used in different procedures such as livercancer, metastatic cancer in the liver, kidney cancer, neuroendocrine tumors,uterine fibroids, and aneurysms. These particles are highly used in thetreatment of various types of cancers whose prevalence has been increasingacross the globe.
Embolization Particle Market -Market Dynamics
The market for embolizationparticle is driven by factors such as increasing prevalence of various types ofcancer.
Embolization particles are thecrucial product used in the treatment of malignancies such as cancer,peripheral diseases, and others. Rising prevalence of cancer globally, hassupported growth of the embolization particle market. According to World HealthOrganization (WHO), cancer is the second prominent cause of death across theglobe, and around 9.6 million deaths occurred due to cancer in 2018. Moreover,as per the Cancer Research UK, over 17 million new cases were estimated tooccur in year 2018 around the globe. The burden of cancer is increasing rapidlyin the U.S. with the incidence of 439.2 per 100,000 men and women per year asaccording to National Cancer Institute (2015).
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Moreover, major players areconstantly introducing technologically advanced products with improvedefficiency that supports growth of the embolization particle market. Forinstance, in 2017, Sirtex introduced SIR-Spheres Y-90 resin microspheres, whichserves as first-line treatment for patients with liver metastases fromright-sided primary colon cancer. In 2016, UK National Institute for Health andCare Excellence (NICE) issued a new update stating that National Health Service(NHS) doctors and commissioners may consider Sirtex’s SIR-Spheres Y-90 resinmicrospheres as an alternative to standard therapy with trans-arterialchemoembolization (TACE) or sorafenib in the treatment of patients with inoperableprimary liver cancer.
However, lesser number ofinterventional neuroradiologists and interventional neuroradiology (INR) labsacross the globe and stringent regulations for embolization particle approvalsare some of the major factors restraining growth of the global embolizationparticle market.
Embolization Particle Market –Competitive Landscape
Major players operating in theembolization particle markets include, Abbott Laboratories, Boston ScientificCorporation, BTG plc, Cook Medical, Inc., Edwards Lifesciences, Johnson &Johnson, Pfizer, Inc., Sirtex Medical Limited, St. Jude Medical, Inc., andTerumo Corporation.
Key players are focusing onmergers & acquisitions and new product launches in order to retain dominantposition in the market. For instance, in November 2018, Boston Scientificannounced it plans to acquire BTG plc is a global healthcare company focused oninterventional medicine. This will help the company to develop andcommercialize products used in minimally-invasive procedures targeting cancerand vascular diseases
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