Surging Liver Cancer Treatment Procedures to Widen Tumor Embolization Growth Prospects
Rising frequencies of hepatocellular carcinoma and intrahepatic bile duct cancer among others is fueling growth prospects
Fact.MR, Rockville MD: The global tumor embolization market study, currently being undertaken by consulting firm Fact.MR, forecasts a relatively positive growth outlook for FY 2021-22, compared to the previous year. Resumption of embolization procedures on a larger scale in the aftermath of the coronavirus pandemic are largely expected to restore the said projections.
According to Fact.MR’s study, tumor embolization sales are heavily reliant on surging treatment volumes for liver cancers. The American Cancer Society’s estimates for primary liver cancer and intrahepatic bile duct cancer in the US for 2021 include over 42,000 new diagnoses and over 30,000 fatalities. This signifies an over threefold increase in incidence rates and doubling of death rates since 1980.
Consequently, healthcare expenditure to address the same is increasing manifold. A recent study discovered that overall direct costs for patients with hepatocellular carcinoma (HCC) ranged from US$ 29,355 to US$ 58,529, with median costs pegged at US$ 176,456 per patient annually. Majority of these expenses are directed towards availing tumor embolization treatments, expanding growth prospects.
“Growing complexities in the nature of tumors is prompting clinicians to demand for precise and minimally invasive surgical approaches, leading to the incorporation of nanotechnology in tumor embolization procedures,” says a Fact.MR analyst.
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Key Takeaways from Fact.MR’s Tumor Embolization Market Study
- Tumor embolization microcoils are expected to grab major eyeballs amid heightened safety concerns
- By indication, tumor embolization for paraganglioma is likely to capture the maximum revenue share
- Cancer treatment centers are poised to emerge as one of the most extensive tumor embolization end-users
- US to record impressive sales amid growing diagnosis and treatment procedures for skin cancers
- Rising Yttrium-90 redioembolization procedures to treat liver cancers driving sales across UK
- Rising cancer research and treatment initiatives catapulting tumor embolization sales across Germany and France
- India and China to garner lucrative market shares, driven by rising surgical procedures to treat breast and colorectal cancers
Tumor Embolization Market- Prominent Drivers
- Increasing prevalence of oncogenic and non-oncogenic tumors accelerating tumor embolization sales across the world
- Nanotechnology based embolization procedures, including microspheres or microbeads, are widening growth prospects
- Ever-widening scope of interventional oncology is opening doors for tumor embolization market revenue expansion
Tumor Embolization Market- Key Restraints
- Mixing of microbeads with radioactive isotopes to destroy malignant cells may also damage healthy tissue, limiting uptake
- High risks of surgical laceration infections made during the embolization process is likely to restrain growth
Discover more about the tumor embolization market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/3997/tumor-embolization-market
Microvention Inc., Kaneka Pharma Europe NV, Penumbra Inc., DePuy Synthes, Cook Medical, Deutschland GmBh & Co. KG, Boston Scientific Corporation, Balt Extrusion, AngioDynamics and Varian Medical Systems Inc. are some highly prominent tumor embolization manufacturers profiled by Fact.MR’s ongoing study. A combination of organic expansion strategies such as product launches and approvals, as well as inorganic approaches such as acquisitions, partnerships and collaborations are also relied upon.
In January 2021, Microvention Inc. announced the FDA approval of the PMA Supplement for the WEB 17 System, a new addition to the WEB Aneurysm Embolization System for treating intracranial wide neck bifurcation aneurysms. This system is designed with the latest microbraid technology, featuring a lower profile delivery system compatible with the VIATM 17 micro catheter and includes additional device configurations.
Also, Penumbra Inc. manufactures the Penumbra SMART COIL® System, equipped with Ultra HD Fiber which is designed to be 3x stronger and 3x more flexible than polypropylene. It also features a single click instant mechanical detachment system for ease of use and reliability. It is used for a wide range of neurovascular lesions, including small, medium, and large-sized aneurysms.
More Insights on the Tumor Embolization Market
In its ongoing study, Fact.MR offers unbiased analysis of the global tumor embolization market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (NBCA glue, microspheres or microbeads and microcoils), indication (hemangioblastoma, juvenile nasal angiofibroma, meningioma, aneurysmal bone cyst, paraganglioma, hemangiopericytoma & others) and end users (hospitals, intensive care units, surgical centers and cancer treatment centers) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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