How Will the Tumor Embolization Devices Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the Tumor Embolization Devices Market Grow Over the Forecast Period Based on Its Expected CAGR?
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.
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 Propelling the Growth of the Tumor Embolization Devices Market from 2025 to 2034?
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.
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Who Are the Dominant Players Expanding Their Reach 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 Key Trends Are Currently Impacting the Tumor Embolization Devices Market’s Development?
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.
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What Are the Main Segments of the Tumor Embolization Devices Market, and How Are They Evolving?
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)
Which Regions Are Setting the Pace for Tumor Embolization Devices Market Growth?
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
How Is the Tumor Embolization Devices Market Defined Across Different Regions?
Tumor embolization devices are minimally invasive devices used in the treatment of tumors. These devices are used either to shut down the supply of blood to the tumor or to deliver tumor-killing therapy directly to the tumor.
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