Embolization Particle Market Expected to Expand at a CAGR of 9.64% by 2023

The Global Embolization Particle Market is expected to grow at a CAGR of 9.64% during the forecast period 2017-2023.

With the growing number of procedures for interventional radiology, the market for embolization therapy is also increasing. For instance, According to the University of Colorado, the IR section of Department of Radiology performs approximately 9,000 procedures each year.

Embolization therapy is an effective and a widely used and treatment with over 50,000 procedures performed each year. The most widely used effective minimally invasive treatment is the uterine artery embolization (UAE), also called uterine fibroid embolization (UFE). According to a research conducted by the Hansen Medical, an estimated approximately 25,000 UFE procedures are performed annually in the U.S. and UFE is supported by the Society of Interventional Radiology as a safe and effective procedure with high patient satisfaction.

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Major Players in the Embolization Particle Market

Some of the key players in this market are Boston Scientific Corporation, Guerbet, BTG International Ltd, Medtronics, Sirtex, Terumo, and Merit Medical.

Regional Analysis:

The global embolization particle market consists of four regions the Americas, Europe, Asia Pacific, and the Middle East & Africa.

The Americas account for a major share of the market owing to the presence of patient population, well-developed technology, high healthcare expenditure and the presence of the leading players. People in this region are health conscious that leads to increase in the healthcare spending. To improve the quality of monitoring & treatment, the demand for the advanced and better diagnostic devices has increased. As per the American Cancer Society (2017), about 63,990 new cases of kidney cancer (40,610 in men and 23,380 in women) will occur and about 14,400 people (9,470 men and 4,930 women) will die from this disease. Increasing prevalence of cancer with increasing demand for better treatment has boosted the growth of the market.

Europe accounts for the second largest market, which is followed by Asia Pacific. Europe consists of two regions namely Western Europe and Eastern Europe. Western Europe held the major share of the market which is majorly contributed by Germany, the U.K., and France. Major driving factors for the market are increasing prevalence of cancer, increasing government support, and well developed technology.

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Asia Pacific is the fastest growing embolization particle market. Increasing need for better treatment methods, rapidly improving technology, and the presence of huge patient pool drives the growth of this market in Asia Pacific region. According to the ESCAP Statistical Database, in 2016, approximately 12.4% of the population in the Asia Pacific was over 60 years. According to WHO, in 2013, the per capita healthcare expenditure in Australia was USD 6,110, which was followed by Japan with USD 3,966. The healthcare spending in China is expected to grow at a rate of 8.8% during 2015-2018.

On the other hand, the Middle East & Africa owns the minimum market share of the embolization particle market due to less development in healthcare services such as new and advanced diagnosis & treatment methods in healthcare domain.

Segmentation

The global embolization particle market is segmented on the basis of product type, application, level of occlusion and end user. On the basis of the product type, the embolization particle market is further segmented into radioembolization and drug eluting beads.

On the basis of applications, the market is segmented into oncology, urology, peripheral vascular disease, neurology, and others. On the basis of level of occlusion, the market is segmented into proximal and distal. On the basis of end user, it is segmented into hospitals & clinics, ambulatory services and others.

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