Precipitating Liquid Embolic Agent Segment, by Type to Account Larger Share in Peripheral Liquid Embolic Agents Market during 2023-2031
According to our latest study on "Peripheral Liquid Embolic Agents Market Forecast to 2031 -Global Analysis - Type and Application" the market is expected to grow from US$ 40.42 million in 2023 and is expected to reach US$ 81.41 million by 2031; it is anticipated to record a CAGR of 9.1% from 2023 to 2031. The report highlights the key factors driving the peripheral liquid embolic agents market growth and prominent players with their developments in the market.
The peripheral liquid embolic agents market analysis has been carried out by considering the following segments: type, application and geography.
Based on type, the peripheral liquid embolic agents market is bifurcated into polymerizing liquid embolic agents and precipitating liquid embolic agents. The precipitating liquid embolic agent segment held the largest market share in 2023. Precipitants are combined with a solvent. After dilution in the blood, the polymer precipitates, and the mechanism of action is similar to that of ethylene vinyl alcohol (EVOH). EVOH is a copolymer with a dimethyl sulfoxide (DMSO) solvent and a suspension of (radiopaque) micronized tantalum powder. When injected through a catheter and mixed with blood, the solvent is diluted, causing the copolymer to precipitate into a spongy plaster with a gel-like consistency, resulting in vascular occlusion at a slower rate than glue. Onyx has been used to embolize arteriovenous malformations (AVMs). Other applications include embolization of visceral aneurysms/pseudoaneurysms, endoleaks, portal vein embolization, and end-organ embolization, such as renal angiomyolipomas (AML). Poly(2-hydroxyethyl methacrylate) or pHEMA is a biocompatible, hydrophilic, optically transparent, and non-degradable polymer. pHEMA has been used in various biomedical applications over the years, owing to advances in research and development. These applications include soft contact lenses, ocular drug delivery and controlled drug delivery systems, bone tissue regeneration, artificial corneas, artificial skin, breast augmentation, catheters, wound dressings, intrauterine inserts, and prostheses. Onyx (Medtronic, Dublin, Ireland) is an example of a currently available precipitant. Squid (Emboflu, Gland, Switzerland), precipitating hydrophobic injectable liquid (PHIL; Terumo Medical), Easyx (Antia Therapeutics AG, Bern, Switzerland), Lava (Black Swan Vascular Inc, Hayward, CA), and others are available in various concentrations.
In terms of application, the peripheral liquid embolic agents market is classified into endoleak type II, malformations, bleedings and trauma, varicose vein, tumors and visceral aneurysm. The endoleak type II segment held the largest market share in 2023. Type II endoleak (T2E) is the retrograde filling of the aneurysm sac by open aortic branch vessels, usually lumbar or inferior mesenteric arteries. T2E is the most common complication after endovascular aneurysm repair (EVAR). There is a shift toward liquid emboli, particularly NBC (N-butyl cyanoacrylate) and EVOH-based liquids such as Onyx (Onyx LES, Covidien), which are most commonly used. Iodized liquid polyvinyl alcohol (PVA) polymer agent (EASYX, Qmedics AG) with CE approval for peripheral use consists of a PVA polymer in liquid form that forms a solid cast when the solvent (DMSO) comes into contact with the blood circulation dissolves. This liquid agent has no adhesive properties and is covalently bound to iodine, which gives it its intrinsic opacity. Better understanding of the type II endoleak circuit regarding inflow and outflow vessels has led to greater accomplishments in embolization techniques.
The scope of the peripheral liquid embolic agents market report covers North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, Japan, India, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America is the biggest contributor to the global peripheral liquid embolic agents market. Asia Pacific is predicted to show the highest CAGR in the market during 2023-2031. The Asia Pacific peripheral liquid embolic agents market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The market growth in the region is driven by various factors such as the rising prevalence of peripheral artery diseases (PAD), increasing demand for minimally invasive procedures, growing number of hospitals and ambulatory surgery centers, rising focus on developing countries by market players , and developing healthcare infrastructure in Asia Pacific.
China, as a significant low- and middle-income country, faces the challenge of the PAD burden as the country's economic expansion. According to the Journal of Vascular Surgery, in China, the total number of people affected by PAD is estimated to have increased by 40% from 2000 to 2020. China has the largest population with type 2 diabetes mellitus (T2DM). Type 2 diabetes affects over 116 million adults in China, and estimates predict that this number will rise to 147 million by 2045. People affected by type 2 diabetes are 1.5 to 4.0 times more likely to develop PAD than non-diabetic people. In China, the prevalence of PAD in diabetic patients has been reported to be between 6% and 10%. However, the lack of awareness and lower treatment and control rates for PAD and its risk factors in China may be the reason for the higher prevalence of PAD in women than in men, as well as the sharp increase in PAD cases after the mid-1960s. In addition, the robust healthcare infrastructure in the country is facilitating the adoption of advanced technologies. Market players are engaged in strategic activities to expand their footprint in the market. In May 2021, Grand Pharmaceutical and Healthcare Holdings Limited acquired Shenming Medical Technology Co., Ltd. The company obtained all rights of an innovative thermosensitive embolic agent that is used for liver cancer treatment, further expanding the tumor intervention treatment product pipeline.
The peripheral liquid embolic agents market growth in Japan is primarily attributed to the rising prevalence of PAD. The geriatric population is more prone to developing various health-related issues. According to the World Economic Forum, in 2023, more than 10% of Japan's population was 80 or above, that is almost a third of the entire population (~36.23 million) was aged 65 and above. As per the Ministry of Internal Affairs Communications, 29.1% of the population in Japan is of elderly people aged 65 years and above. Furthermore, Japan is technologically advanced and has many companies that provide the best treatment devices and contribute to better healthcare facilities.
Medtronic, B Braun SE, Guerbet SA, Sirtex Medical Ltd, Balt, MicroVention Inc, Johnson & Johnson, and GEM srl are among the leading companies operating in the global peripheral liquid embolic agents market.
Companies operating in the peripheral liquid embolic agents market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the peripheral liquid embolic agents market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall peripheral liquid embolic agents market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.
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