Tumor embolization devices are specialized medical tools used in the process of embolization, a minimally invasive procedure that blocks blood vessels to prevent blood flow to cancerous tumors or other abnormal growths.
The tumor embolization devices market consists of sales, by entities (organizations, sole traders or partnerships), of tumor embolization devices that are crucial in the treatment of various types of tumors, both cancerous and non-cancerous, by delivering embolic agents directly to the site of the tumor.
The global tumor embolization devices market was valued at $1,143.18 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 4.0%.
Increased Research And Development Spending
Rising research and development spending in the medical sector drove the tumor embolization devices market in the historic period. Increased research and development funding allows for the exploration of novel materials and designs for tumor embolization devices. This results in the development of more efficient and effective devices that can better target and treat tumors, leading to improved patient outcomes. R&D investments can contribute to the integration of advanced imaging technologies into tumor embolization devices. This may include the incorporation of real-time imaging modalities, such as MRI (magnetic resource imaging) or CT (computed tomography) scans, providing better visualization of tumors and surrounding tissues during the embolization procedure. For instance, according to the WebFX a US-based digital marketing agency, medical technology companies generally allocate 5.1% of their yearly revenue towards research and development projects. R&D expenditures for MedTech businesses in the US and the UK increased by 11.5%. Therefore, the increased research and development spending drove the growth of the tumor embolization devices market during the historic period.
Development Of New Systems Or Platforms For Precise Tumor Embolization
Companies in the tumor embolization devices market are focusing on developing innovative systems or platforms for precise tumor embolization to strengthen their position in the market. For instance, in November 2023, Fluidx Medical Technology, a US-based medical device company, developing embolic material and other technologies, revealed information about their new ULTRA embolic platform, which is intended to make therapeutic embolization procedures safer, better and faster. The ULTRA platform is intended to meet the demands of patients requiring moderately distal to proximal tumor embolization. Additionally, in June 2022, Siemens Healthineers, a Germany-based medical technology company that provides healthcare solutions and services, introduced Artis, a new, ceiling-mounted icono ceiling angiography system for precise tumor embolization. The new Artis icono ceiling assists medical personnel in performing with an extremely high level of precision, by combining mechanical flexibility, high positioning accuracy and intelligent operations.
The global tumor embolization devices market is concentrated, with a few players operating in the market. The top ten competitors in the market made up 42.39% of the total market in 2022.
Tumor Embolization Devices Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global tumor embolization devices market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for tumor embolization devices? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The tumor embolization devices market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider tumor embolization devices market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by application and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the tumor embolization devices market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by application and by end user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for tumor embolization devices providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Radio embolic Agents; Non-Radioactive Embolic Agents
- 2) By Application: Cancer Tumors; Noncancerous Tumors
- 3) By End User: Hospitals; Cancer Treatment Centers; Ambulatory Surgical Centers
- Companies Mentioned: Merit Medical Systems Inc.; Siemens Healthineers AG; Medical LLC; Angio Dynamics Inc.; Boston Scientific Corporation
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Canada; USA; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; tumor embolization devices indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.