Liquid Embolic System Market: Current Analysis and Forecast (2023-2030)

A liquid embolic system is a medical device used in healthcare services for the treatment of blood vessel abnormalities, including aneurysms, AVMs, tumors, etc. to prevent severe bleeding in blood vessels. These agents are available in the form of vials and injections and delivered into the vascular malformation sites using a catheter guided by X-ray imaging. Factors such as rising demand for minimally invasive procedures, rising cancer cases, and genetic disorders provide a propelling force to the liquid embolic system market. For instance, as per the Centers for Disease Control and Prevention, in the U.S., increasing age poses a high risk of developing gynecological cancers in most women. It has been estimated that each year in the U.S., about 71,500 new cases of gynecological cancers are diagnosed, including cervical, ovarian, uterine, vaginal, and vulvar cancers. Several factors, including a surge in diagnostic tests, a growing number of obese people, increasing awareness regarding chronic diseases like cancer, rising cancer screening programs, unhealthy lifestyles, and increased investments from the government, public, and private sectors in oncology departments are driving the growth of the market during the forecast period.

The Liquid Embolic System Market is expected to grow at a steady rate of around 1.5% owing to the increased prevalence of immune system deficiency globally due to unhealthy lifestyles. For instance, according to the BMC Public Health, in July 2023, the prevalence of unhealthy lifestyles was 86.4% for diet, 14.5% for alcohol, 6.0% for tobacco, 72.2% for physical activity, 42.3% for screen time, and 63.9% for sleep duration. Also, according to the 2021 National Survey on Drug Use and Health (NSDUH), 29.5 million people ages 12 and older had an Alcohol Use Disorder (AUD) in the year 2020. Several other factors, such as rising genetic disorders are leading drivers of the liquid embolic system globally. Apart from this, accelerated diagnostic tests with advanced therapeutics have resulted in faster treatment procedures and better accuracy which is also driving this market of liquid embolic system at a steady rate. These days companies are trying to deliver environment-friendly products. For instance, Medtronic's Onyx 34L LES packaging with 6 ml vials has been made with 98% recyclable content which makes it environment friendly.

Based on type, the market is segmented into liquid embolic vials and liquid embolic prefilled injectables. The liquid embolic vials segment held the maximum share in the global market of liquid embolic system market in 2022. This segment dominated the market because of the feasibility of using the product for large-volume treatments. The ease of use of using less storage space is also a propelling factor for this segment. Thus, liquid embolic vials held a significant share of the market amongst blade types in 2022.

Based on indication, the market is categorized into brain arteriovenous malformations, tumor and brain cancer, brain aneurysm, and others. The brain arteriovenous malformations segment is expected to hold a significant share of the market in the forecast period owing to rising cases of brain arteriovenous malformations and genetic abnormalities. For instance, according to the Brain Aneurysm Foundation, in about 5-10% of individuals, arteriovenous malformations are discovered during a routine examination while in approximately half of the patients, an arteriovenous malformation makes its presence known with sudden hemorrhage or stroke. Thus, the brain arteriovenous malformations category is expected to witness a higher CAGR during the forecast period.

Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals category held the highest share in the market in 2022 attributed to the ease of access to healthcare provided by hospitals, the availability of highly qualified healthcare personnel, the utilization of advanced medical technology, and a diverse number of units all over the globe. For instance, according to the American Hospital Association in 2023, there are in total of 6,129 hospitals in the U.S with 919,649 staffed beds and 34,011,386 hospital admissions in the year 2022. The market for the hospital segment is highly competitive and is projected to remain so in the foreseeable future. Thus, the hospital segment held dominance in the market in the year 2022.

For a better understanding of the market adoption of liquid embolic system, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is expected to grow with a high CAGR in the global liquid embolic system market in the forecast period. Several factors such as the development of a wide range of medical products, enhanced accessibility, increasing cases of chronic diseases, and diversified healthcare costs are driving the market's growth during the forecast period. For instance, according to the National Institute of Health in 2022, there were approximately 4,820,000 and 2,370,000 new cancer cases in China. Further, the presence of key medical device companies in the region, and the surge in government initiatives and special communities are also having a positive impact on the market's growth. There have been significant improvisations and enhancements in women's health diagnostics in the region. Thus, amongst regions, APAC is expected to witness higher CAGR during the forecast period.

Some of the major players operating in the market include: Medtronic; Terumo Corporation; BALT group; Johnson & Johnson Services, Inc.; Meril Life Sciences Pvt. Ltd.; Fluidx Medical Technology, Inc.; Instylla, Inc.; TheraTarget; Sirtex SIR-Spheres Pty Ltd.; NeuroSafe Medical Co., Ltd.