Embolization Particles Market Estimated to Flourish by 2026

Embolization is a minimally invasive procedure that blocks blood flow to a particular area of the body, leading to effective shrinkage of an aneurysm or a tumor. The procedure is also used to treat various types of hemorrhages, cancerous tumors, as well as management of malignant hypertension caused due to renal failure. Carried out by interventional radiologist, the procedure is considered an alternative to open surgery. The procedure involves the introduction of emboli for selectively occluding blood vessels. Embolization procedures are carried out by interventional radiologists.

The global embolization particles market can be segmented based on product, application, end-user, and region. Based on product, the market can be classified into radioembolization spheres, microspheres, drug eluting beads, and other particles. The embolization particles market is expected to expand at a rapid pace during the forecast period. Embolization particles are highly utilized in the treatment of cancer, whose prevalence has been increasing across the globe.

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In terms of application, the global embolization particles market can be categorized into peripheral vascular disease, neurology, oncology, urology, and others. The peripheral vascular disease segment dominates the market. However, increase in prevalence of cancer globally has led to robust expansion of the oncology segment, which is expected to record high growth during the forecast period. According to Globocan, the incidence of liver cancer was 5.6% of the total cancer incidence in 2012; breast cancer was 11.9%, stomach cancer was 6.8%, and colorectal cancer was 9.7%. Embolization particles are the primary products used in the treatment of malignancies. Increase in awareness about uterine fibroid embolization procedures (UFE) and benign prostatic hyperplasia treatment through embolization is expected to boost the market in the next few years.

Based on end-user, the global embolization particle market can be divided into hospitals, ambulatory centers, and clinics. The hospitals segment constituted a major market share and is likely to maintain its leading position during the forecast period. A large part of the population prefers visiting hospitals first rather than ambulatory surgical centers or clinics for embolization procedures. Hospitals are the most favored setting for embolization procedures. However, the number of ambulatory surgical centers is increasing, specifically in emerging markets, as they provide embolization treatments at lower costs than hospitals.

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In terms of region, the embolization particle market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a prominent share of the embolization particle market due to the presence of major market players in the region. Most of the key players operating in the region have made a series of strategic acquisitions, which have contributed to the increase in their market share. Increase in cancer prevalence in the region is the one of the key factors contributing to the expansion of the market. According to the American Cancer Society, over 1,658,370 new cancer cases were diagnosed and 589,430 cancer deaths reported in the U.S. in 2015. Well-established reimbursement policies by private and public organizations is a major factor boosting the adoption of these devices in the region.

Europe is a prominent region of the embolization particle market due to increase in adoption of minimally invasive procedures for treatment. Embolization procedures have fewer side effects due to their minimally invasive nature and faster wound healing process. Rise in awareness among patients regarding embolization procedures and their associated benefits such as short hospital stay and fast healing process also contributes to market growth. Technological innovations and significant product launches also drive the market in the region. The market in Asia Pacific and Latin America is expected to expand at a rapid pace during the forecast period. Increased focus by federal governments on enhancing health care facilities, and booming medical tourism, are factors propelling the market in these regions.

Major players operating in the embolization particle market are Abbott Laboratories, Boston Scientific Corporation, BTG plc, Cook Medical, Inc., Edwards Lifesciences, Johnson & Johnson, Pfizer, Inc., Sirtex Medical Limited, St. Jude Medical, Inc., and Terumo Corporation. The market is characterized by significant acquisitions, which has led to consolidation, increasing the dominance of a few top players.

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