PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420309
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420309
The global liquid embolic market, valued at US$ 270 million in 2024, is set to experience a significant growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 8.9% to reach a market valuation of approximately US$ 580.5 million by 2031, according to a recent market analysis by Fairfield Market.
Liquid embolic vials currently hold a substantial share of 82.7% in the global market. While liquid embolic products have been successfully used in the treatment of arteriovenous malformations, their application in aneurysm treatment remains limited to a select group of patients, primarily due to concerns about preventing the migration of the liquid to the parent vessel.
The global market for liquid embolics has expanded at a CAGR of 4.2% over the past five years. Embolization is a minimally invasive procedure used to block one or more blood vessels or abnormal vascular channels. Various embolic agents are introduced through catheters into blood vessels to inhibit blood flow to specific areas, with liquid embolic agents such as n-Butyl Cyanoacrylate (NBCA) and ethyl vinyl alcohol copolymers playing a vital role in therapeutic embolization.
The demand for liquid embolic products is expected to surge at a substantial rate over the next decade, with a projected CAGR of around 8.9%. This growth is anticipated to bring about an incremental opportunity of US$ 333.4 million from 2024 to 2031. Liquid embolic vials are expected to remain in high demand throughout the forecast period compared to liquid prefilled injectables.
Tumor embolization presents a significant opportunity for liquid embolic product manufacturers, given the increasing incidence of tumors worldwide. This minimally invasive procedure involves shutting down the blood supply to tumors or delivering tumor-killing therapy directly to them.
Companies developing liquid embolic agents could expand their market share by pursuing regulatory approvals for indications beyond neuro interventional, tapping into the rising prevalence of cancer. Additionally, the growing demand for neurovascular embolization devices, driven by an increasing prevalence of cerebral aneurysms, offers further market growth prospects.
Advancements in research and development also provide opportunities for both emerging and established liquid embolic product suppliers to establish a strong presence in the market.
While the demand for liquid embolic products is on the rise, certain challenges must be addressed. These include issues such as balloon deflation, catheter entrapment, and difficulties in deploying the device to the targeted lesion. Moreover, the high risk associated with liquid embolic procedures, including the potential of targeting the wrong blood vessels during surgical procedures, is a concern.
Additionally, limited liquid embolic agent manufacturers face intense competition from alternative transcatheter embolization devices, which could potentially restrain the growth of the liquid embolic systems market.
The United States dominates the North America liquid embolic market, with a substantial market share. This dominance is driven by factors such as unhealthy lifestyle habits, including junk food consumption, smoking, and alcohol use, as well as a sedentary lifestyle. These habits have led to a higher prevalence of chronic diseases like high blood pressure, migraines, and bAVM, increasing the demand for liquid embolic products and agents in the U.S. Moreover, lifestyle changes have been associated with a significant percentage of cancer cases in the country, further contributing to the demand for such products.
Germany is expected to be a prominent player in the European market for liquid embolics. This is primarily due to the substantial number of clinical trials and research conducted in the country, particularly in the field of cancer research. Germany boasts a significant number of research ethics committees, with active government involvement in healthcare and cancer-related research and innovation. This environment presents lucrative opportunities for suppliers of liquid embolic products to grow in the market.
South Korea is an emerging market in the East Asia liquid embolic market. The country is witnessing substantial growth in this sector, mainly due to the increasing prevalence of cardiovascular diseases. For instance, coronary heart disease-related deaths in South Korea have been a significant concern. This growth in cardiovascular issues has led to a rising demand for liquid embolic products and is expected to continue to expand in the coming years.
Leading liquid embolic product providers are adopting growth strategies such as new product launches, approvals, agreements, collaborations, and partnerships. These strategies are helping key stakeholders expand their geographic footprint and strengthen their existing product portfolios.