What Will The Tumor Embolization Devices Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s tumor embolization devices market report forecasts the tumor embolization devices market size to grow to $2.5 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.
Learn More On The Tumor Embolization Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/tumor-embolization-devices-global-market-report
Tumor Embolization Devices Market Size Forecast
The global tumor embolization devices market is expected to grow from $1.44 billion in 2022 to $1.61 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The tumor embolization devices market is expected to grow from $2.5 billion in 2027 at a CAGR of 11.6%.
North America held the largest tumor embolization devices market share.
Key Tumor Embolization Devices Market Driver – Rise In The Number Of Cancer Cases Across The Globe
According to the American Cancer Society, there were about 1.9 million new cases and 608,570 cancer deaths in 2021 in the USA. The four most common types of cancers worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the tumor embolization market over the forthcoming years.
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Key Tumor Embolization Devices Market Trend – Technological Advancement
Companies in the tumor embolization devices market are increasingly investing in technological advances to provide more efficient devices to consumers. The advances include the emergence of biocompatible, biodegradable, drug-eluting microspheres that provide effective embolization. Bioresorbable microspheres block the blood vessels causing tumors without long-term blockage of the healthy tissue blood vessels. In May 2021, Emboline received an investment of $55 m to develop and launch embolic protection catheters from Matrix Capital Management.
Tumor Embolization Devices Market Segment
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
Tumor Embolization Devices Market Major Players and Strategies
Major players in the tumor embolization devices market are Boston Scientific Corporation, Medtronic PLC., Terumo Corporation, Sirtex Medical Ltd., Merit Medical, Cook Meidical LLC., BTG PLC., Angiodynamics, and Siemens Healthineers.
The Tumor Embolization Devices Global Market Report 2023 covers regional data on tumor embolization devices market size, tumor embolization devices market trends and drivers, opportunities, strategies, and tumor embolization devices market competitor analysis. The countries covered in the tumor embolization devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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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