Learn Details of the Embolization Agents Market Report
Factors such as new product approval, growing prevalence of chronic diseases (such as cancer and vascular diseases), unmet needs, increasing health care expenditure, and rising number of road accidents leading to trauma would drive the embolization agents market in the next few years. The global health care industry expanded by 6.9% to reach US$ 1.68 Trn in 2016, with the industry in Asia Pacific registering a double-digit growth rate.
Increasing number of clinical trials, rising number of pipeline products, and technological advancements are other factors augmenting the embolization agents market. Rapid evolution of the microcatheter technology has led to development of numerous embolic agents that are compatible with microcatheters. A growing number of embolic agents are designed specifically for use with the microcatheter technology. On the other hand, unfavorable reimbursement scenario and stringent government regulations are key factors that may hamper the global embolization agents market during the forecast period.
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The embolization agents market has been segmented based on product, application, end-user, and geography. In terms of product, the market has been classified into permanent large-vessel occluders, permanent small-vessel occluders, temporary large-vessel occluders, and temporary small-vessel occluders. The permanent large-vessel occluders segment has been sub-classified into coils, balloons, amplatz vascular plugs, guidewires, silk suture material, porcine submucosa, and amplatz vascular obstruction devices. The permanent small-vessel occluders segment has been sub-divided into liquid sclerosants, liquid adhesives, ethiodol, thrombin, and ethylene–vinyl alcohol copolymer.
The temporary large-vessel occluders segment has been sub-classified into gel foam sponges and autologous clots. The temporary small-vessel occlusions segment has been sub-divided into gel foam powder starch microspheres and fibrillated collagen. In terms of application, the embolization agents market has been classified into trauma, chemoembolization, tumors, and vascular malformations. In terms of end-user, the market has been segmented into hospitals, clinics, radiology centers, and ambulatory surgery centers.
Geographically, the global embolization agents market has been classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global embolization agents market due to advanced health care infrastructure, high health care spending, and presence of a large number of cancer patients in the region.
According to Cancer Statistics 2016, pancreatic cancer is expected to exceed breast cancer to become the third leading cause of cancer-related deaths in the U.S. Factors such as growing geriatric population and increasing number of surgical procedures make Europe the second-largest market for embolization agents. According to the Lancet Commission on Global Surgery, about 15,000 surgical procedures per 100,000 people are performed in the U.K. every year.
The market in the Asia Pacific region is expected to expand at a higher rate during the forecast period, due to rising health care expenditure, favorable government initiatives, boom in the economy, developing health care infrastructure, rising prevalence of chronic diseases, growing awareness among people, and increasing R&D activities in the region. In Southeast Asia, the private health care expenditure is higher compared to the government expenditure.
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Major players operating in the global embolization agents market are Boston Scientific Corporation, Stryker Corporation, Penumbra, Inc., Terumo Corporation, Medtronic Public Limited, Pfizer Inc., St. Jude Medical, LLC, and Cook Medical.
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