Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Tumor Embolization Devices Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global healthcare industry witnesses a significant development as a comprehensive market research report on tumor embolization devices surfaces, presenting insightful analysis and future projections. The report underscores a surge in the market size, delineating an anticipated increase from $1.62 billion in 2023 to a remarkable $1.82 billion by 2024, charting a compound annual growth rate (CAGR) of 12.8%.
A profound look into the historical data points reveals that the sector's growth is fueled by the escalating adoption of minimally invasive procedures, technological innovations, the rising prevalence of cancer, and the growing demand for tumor treatment options among the aging population.
Projected Market Expansion and Influencing Factors
The intensive market analysis projects a notable growth trajectory for the tumor embolization devices market, anticipated to burgeon to a substantial $2.83 billion by 2028, advancing at a compound annual growth rate (CAGR) of 11.6%. The report attributes this projected expansion to a multifaceted set of drivers: the pursuit of personalized medicine, advancements in combination therapies, and the increasing use of telemedicine. Trends forecasted to shape the future include ongoing innovation in embolic agents and the strategic application of transarterial chemoembolization (TACE) techniques.
Rising Global Cancer Incidence as a Market Catalyst
Focusing on the critical drivers underpinning this growth, the report emphasizes the escalating cancer cases globally as a pivotal propellant. In-depth data analysis reveals striking forecasts contributing to the demand for tumor embolization devices, especially considering reports such as the one released by the American Cancer Society, which highlighted about 1.9 million new cancer cases in the USA alone during 2021.
Detailing the scope of the market, the report dissects the primary categories of tumor embolization devices, including radioembolic agents and non-radioactive embolic agents, pinpointing their extensive usage across hospitals, cancer treatment centers, and more.
- Healthcare Expenditure's Impact: The report elaborates on the ascending healthcare expenditures which positively sway the market's trajectory. Such financial inputs catalyze the development and expansion of health-related products, including the pivotal tumor embolization devices.
- Regulatory Landscape: Shifting towards industry constraints, the document anticipates the impact of regulatory changes on product development costs, underscoring the increased demands for clinical data by regulatory bodies such as the FDA and the resultant time extensions in processing approvals.
- Technological Investments: Illuminating the competitive landscape, the research showcases key players' investments in technology enhancements, like biocompatible, drug-eluting microspheres, and new product innovations such as Eye90 microspheres intended for liver tumors.
Mergers and acquisitions also feature prominently as game-changing strategies among leading market players, with the recent acquisition of Obsidio Inc. by Boston Scientific highlighted as a significant move to fortify their market position in interventional oncology and embolization sectors.
Geographic Market Distribution and Key Investments
The report further presents a geographical analysis of the tumor embolization devices market, with North America emerging as the predominant region in 2023. Following closely is the Asia-Pacific market, progressing at an encouraging rate. The comprehensive research reviews pertinent market statistics, providing a panoramic view and guiding stakeholders through the dynamically evolving landscape of the tumor embolization devices industry.
Encapsulating a wealth of market-specific data and analytical foresight, this report aligns with the unwavering commitment to research excellence and remains an indispensable tool for market participants seeking to navigate the future of the tumor embolization devices sector.
A selection of companies mentioned in this report includes
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/lf6ycv
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