Embolization Agents Market Overview Forecast Analysis up to 2028 – The Insight Partners.
Posted by niket gore on July 27th, 2022
The embolization agents’ market is projected to reach US$ 24,525.75 million by 2028 from US$ 2,714.82 million in 2021; it is expected to grow at a CAGR of 7.6% from 2021 to 2028. The growth of the market is primarily attributed to the rising incidence of tumors and aneurysms and growing prevalence of hypertension, obesity, smoking, and alcoholism. Moreover, technological advancements in embolization products and procedures are expected to foster the market growth during the forecast period. However, the high costs of embolization agents hinder the market growth. The medical practices worldwide continue to adapt to the challenges of the COVID-19 outbreak. Pandemic has been challenging the already overburdened and underfunded public healthcare systems of South and Central America. With a vast population living in poverty, the countries in the region continuously face widespread health problems due to overcrowding, limited sanitation, food insecurity, and unpredictable environmental conditions. In this scenario, Brazil observed enormous difficulties in the management of cancer surgeries such as head and neck cancer surgeries, chronic neurological disorders such as brain aneurysms, from headache to neurodegenerative diseases. Due to inadequate monitoring, many patients end up being admitted to emergency departments because of the decompensation of their cancer and neurological disease, thus limiting the embolization agents market growth.
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The developments in the embolization agents market have been characterized as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as launches, expansion, enhancement as well as relocation. Inorganic growth strategies witnessed in the market were mergers & acquisitions, partnership, collaborations, alliance, and agreement & joint ventures. These activities have paved way for expansion of business and customer base of market players
The COVID-19 pandemic has negatively impacted the embolization agents market in North America. The shift of priorities from cardiovascular treatment to COVID-19 diagnosis and treatments is restraining the market growth up to a certain extent. After cardiac surgical procedure, patients require vital ICU resources as well as they may suffer from the highest risk of COVID-19 complications. Hence, many hospitals and surgical centers have decided to cancel or postpone elective surgeries, including cardiovascular surgeries. Therefore, the impact of the COVID-19 pandemic is somewhat negative on the embolization agents market.
Based on application, the embolization agents market is segmented into neurology, oncology, cardiology, peripheral vascular diseases, and others. In 2021, the oncology segment held the largest share of the market. Also, the market for this segment is expected to grow at the fastest rate during the forecast period.
The report segments the embolization agents market as follows:
The embolization agents market is segmented on the basis of product, application, and end user. Based on product, the market is segmented into coils, beads/particles, plugs, detachable balloons, glue, sponge, liquid embolics, sclerosants, precipitating agents, and others. Based on application, the market is segmented into neurology, oncology, cardiology, peripheral vascular diseases, and others. By end user, the embolization agents market is segmented into hospitals, ambulatory surgical centers, cardiac centers, and others.
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East and Africa (MEA)
Rest of MEA
South and Central America (SCAM)
Rest of SCAM
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About the Authorniket gore
Joined: July 6th, 2022
Articles Posted: 290
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