Press release
Future of the Tumor Embolization Devices Market: Trends, Innovations, and Key Forecasts Through 2034
Tumor Embolization Devices
Tumor Embolization Devices Market Size Growth Forecast: What to Expect by 2025?
Recent years have seen a significant expansion in the market size for tumor embolization devices. It is projected to inflate from $1493.6 billion in 2024 to $1587.48 billion in 2025 with a compound annual growth rate (CAGR) of 6.3%. This surge during the historical period can be accredited to factors like minimally invasive procedures, advancements in technology, increasing incidence of cancer, and the rise in the aging population.
How Will the Tumor Embolization Devices Market Size Evolve and Grow by 2029?
Predictions indicate that the market size for tumor embolization devices is set to experience considerable growth in the coming years. The market is anticipated to reach $2254.67 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.2%. The expected growth during this forecast period can be attributed to factors such as personalized medicine, combination therapies, image-guided embolization, telemedicine, and remote consultations. Key trends expected to be seen during the forecast period include innovative developments in embolic agents, transarterial chemoembolization (tace), embolization for palliative care, and image-guided procedures.
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What Drivers Are Propelling the Growth of Tumor Embolization Devices Market Forward?
The global increase in cancer cases is expected to drive the growth of the tumor embolization devices market in the forecast period. For example, Macmillan Cancer Support, the largest healthcare charity in the UK, projected in October 2022 that the number of cancer patients would reach 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. As such, the increasing rate of cancer globally is predicted to stimulate demand for the tumor embolization market in the upcoming years.
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What Trends Will Shape the Tumor Embolization Devices Market Through 2029 and Beyond?
Leading enterprises in the tumor embolization devices market are focusing on product innovation such as the angiography system to improve the precision and efficiency of tumor-targeted treatments. Angiography systems, which are specific imaging devices, are utilized to inspect blood vessels and determine the blood flow in the body. For example, in June 2022, the Germany-based healthcare firm, Siemens Healthineers, introduced Artis Icono Ceiling. This is a ceiling-mounted angiography system crafted to reinforce exactitude in tumor embolization and several other interventional procedures. The Artis Icono Ceiling boasts a speedy 3D data collection feature, capable of picture-taking at the patient's head in merely 2.5 seconds, and from the sides in 4 seconds. This characteristic reduces movement disturbances and cuts down the utilization of contrast media. The Artis Icono Ceiling is fashioned for multipurpose uses, making it operable across various specialties like interventional radiology and cardiology.
What Are the Key Segments in the Tumor Embolization Devices Market?
The tumor embolization devices market covered in this report is segmented -
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
Subsegments:
1) By Radioembolic Agents: Yttrium-90 (Y-90) Microspheres, Holmium-166 Microspheres
2) By Non-radioactive Embolic Agents: Drug-Eluting Beads (DEBs), Microspheres (Polyvinyl Alcohol - PVA Particles), Gelatin Sponges, Liquid Embolic Agents (Onyx, Glue-Based Agents)
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Who Are the Key Players Shaping the Tumor Embolization Devices Market's Competitive Landscape?
Major companies operating in the tumor embolization devices market include 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.
What Geographic Markets Are Powering Growth in the Tumor Embolization Devices Market?
North America was the largest region in the tumor embolization devices market in 2024. Asia-Pacific was the second largest region in the tumor embolization devices market. The regions covered in the tumor embolization devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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