Press release
Conversational AI to drive the Liquid Embolic Market at a CAGR of 8.9%
Embolization is a procedure that uses certain particles such as tiny gelatine sponges or beads to inhibit blood vessels. The embolization process is used to stop bleeding or inhibit the flow of blood to a tumour or an abnormal area of tissue. Tumor embolization, thus, is a process that is used for treating tumors by blocking blood supply to the tumor cells.
Availability of effective conventional, first-level therapies for the treatment of liver cancer, uterine fibroids, hemorrhagic stroke, and other hemorrhagic conditions is a key driver for market growth. Therapies such as surgery, chemotherapy, and radiation therapy are preferred options in cancer treatment.
Liquid embolic therapy has shown to be safe and effective with high success rate and less post-operative complications. Commercially available liquid embolics have been used to successfully treat hypervascular tumors, peripheral vascular lesions, and varicoceles.
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According to Globocan, around 19.3 million cases of cancer were detected in 2020 globally. On the other hand, as per data published by Cancer.Net in 2021, liver cancer is the fifth-most-common cancer in men and the ninth-most-common in women. Rising prevalence of cancer and tumors such as brain tumor will drive demand for liquid embolics over the coming years.
Key Takeaways from Market Study
Liquid embolic vials, owing to their effectiveness in the storage of large volumes of liquid and ease of use, continue to hold the largest market. This product segment is expected to experience a CAGR of 9.6% through 2031.
Based on indication, brain arterio-venous malformations (bAVM) is leading with over 44% of market share.
Hospitals will dominate the liquid embolic market with a market share of nearly 60%.
By region, North America is slated to dominate the global market for liquid embolics with over 1/3 market share, while experiencing twofold growth over the decade.
"Rising prevalence of tumours & cardiovascular diseases and new product launches & approvals are expected to drive market expansion over the coming years," says an analyst of Persistence Market Research.
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Who is Winning?
Key market players such as Medtronic and Terumo, amongst others, are focusing on expansion in emerging regions by manufacturing and introducing new product lines in their already existing product portfolios.
OptiSphere embolization spheres launched in the U.S. by Medtronic (2018) is providing new treatment options for embolization of hypervascular tumours.
Launch of an intravascular aneurysm treatment device called WEB™ Embolization System in Japan by Terumo Corporation (2020).
Prominent liquid embolic product manufacturers include Medtronic, Meril Life Sciences Pvt. Ltd., Johnson & Johnson, Microvention Inc., Guerbet, and Emboflu.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the liquid embolic market in its latest study, presenting a historical demand assessment of 2016 - 2020 and projections for 2021 - 2031.
The research study is based on the product (liquid embolic vials and liquid embolic prefilled injectables), indication (brain arterio-venous malformations, tumour embolization, radiology, and cardiology), and end user (hospitals, ambulatory surgical centers, and independent speciality centers), across seven key regions of the world.
Persistence Market Research's Expertise in Life Sciences and Transformational Health
Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations. Click here to learn more about how we zero in on the critical aspects of this industry.
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