What Has Been the Growth of the Tumor Embolization Devices Market So Far?
The tumor embolization devices market has seen considerable growth due to a variety of factors.
• In recent times, the market size for tumor embolization devices has experienced considerable growth. The industry is forecasted to expand from a worth of $1493.6 billion in 2024 to $1600.57 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.2%.
The key factors behind this historical growth trend include the adoption of minimally invasive techniques, technological innovation, the prevalence of cancer, and an increasing elderly population.
What Is the Forecasted Market Size and Growth Rate for The Tumor Embolization Devices Market Size In The Coming Years?
The tumor embolization devices market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, there is anticipated robust expansion in the market size of tumor embolization devices. The market is expected to reach a value of $2286.1 billion in 2029, with a 9.3% compound annual growth rate (CAGR). The projected growth within the forecast period can be linked to factors such as personalized medicine, combination therapies, image-guided embolization, telemedicine, and remote consultations. Key trends that will be dominant during the forecast period include advancements in embolic agents, transarterial chemoembolization (tace), palliative care via embolization, and image-guided procedures.
What Factors Are Driving Growth In The Tumor Embolization Devices Market?
The global increase in cancer incidences is expected to drive the growth of the tumor embolization devices market in future. For example, Macmillan Cancer Support, UK's leading health charity foundation, projected in October 2022 that by 2025 there will be 3.5 million cancer patients, 4 million by 2030, and 5.3 million by 2040. Consequently, this global escalating rate of cancer is likely to fuel the demand for the tumor embolization market in the approaching years.
What Are The Main Segments Of The Global Tumor Embolization Devices Market?
The tumor embolization devices market covered in this report is segmented –
1) By Type: Radioembolic Agents, Non-radioactive Embolic Agents
2) By Application: Cancer Tumors, Noncancerous Tumors
3) By End User: Hospitals, Cancer Treatment Centers, Intensive Care Units, Surgical Centers
Subsegments:
1) By Radioembolic Agents: Yttrium-90 (Y-90) Microspheres, Holmium-166 Microspheres
2) By Non-radioactive Embolic Agents: Drug-Eluting Beads (DEBs), Microspheres (Polyvinyl Alcohol - PVA Particles), Gelatin Sponges, Liquid Embolic Agents (Onyx, Glue-Based Agents)
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How Are New Trends Impacting The Size Of The Tumor Embolization Devices Market?
In the tumor embolization devices market, large-scale enterprises are developing innovative products such as the angiography system to boost the precision and efficiency of treatments targeting tumors. Angiography systems are specialized imaging equipment used to view blood vessels and evaluate blood circulation within the body. For instance, Siemens Healthineers, a healthcare company from Germany, introduced the Artis Icono Ceiling in June 2022. This ceiling-mounted angiography system aims to increase accuracy in tumor embolization and other related procedures. The Artis Icono Ceiling is capable of rapidly acquiring three-dimensional (3D) data and can take images at the patient's head in only 2.5 seconds, and from the sides in 4 seconds. This functionality reduces motion distortions and lowers the use of contrast media. The Artis Icono Ceiling has a versatile design which enables it to be utilized across various areas, such as interventional radiology and cardiology.
Who Are the Key Players In The Tumor Embolization Devices Market?
Major companies operating in the tumor embolization devices market include:
• Boston Scientific Corporation
• Medtronic plc
• Terumo Corporation
• Sirtex Medical Limited
• Merit Medical Systems Inc.
• Cook Medical LLC
• AngioDynamics Inc.
• Siemens Healthineers AG
• Johnson & Johnson
• Penumbra Inc.
• Teleflex Incorporated
• Meril Life Sciences Pvt. Ltd.
• Kaneka Corporation
• Imagion Biosystems Ltd.
• Guerbet
• BTI Biotechnology Institute S.L.
• BTG International
• Avinger Inc.
• Shape Memory Medical Inc.
• Delcath Systems Inc.
• Endoshape Inc.
• InSitu Technologies Inc.
• Monteris Medical Corporation
• NeuWave Medical Inc.
• Neoprobe Corporation
• OncoSec Medical Incorporated
• Helomics Corporation
• Hologic
• Surefire Medical Inc.
• Varian Medical Systems Inc.
What Is The Most Dominant Region In The Tumor Embolization Devices Market?
North America was the largest region in the tumor embolization devices market in 2023. Asia-Pacific was the second largest region in the tumor embolization devices market. The regions covered in the tumor embolization devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
