South and Central America Embolization Agents Market is expected to reach US$ 262.40 million by 2028


PRESS RELEASE BY The Insight Partners 30 Nov 2021

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Oncology Segment to Dominate South and Central America Embolization Agents Market during 2019–2028

According to The Insight Partners market research study on “South and Central America Embolization Agents Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User,” is expected to reach US$ 262.40 million by 2028 from US$ 167.17 million in 2021. The market is estimated to grow at a CAGR of 6.7% from 2021 to 2028. Rise in the incidence of tumors and aneurysms is the major factor driving the growth of the South and Central America embolization agents market. However, high cost of embolization agents may hinder the growth of South and Central America embolization agents market. The report provides trends prevailing in the South and Central America embolization agents market along with the drivers and restraints pertaining to the market growth.

The increasing number of COVID-19 cases in Brazil, Peru, Chile, Ecuador, and Venezuela is likely to have negative impact on the South and Central America embolization agents market. For instance, in Brazil, the number of cases has reached ~18,513,305, with 516,119 deaths, as per the world meter data of June 2021. With the onset of the second wave of COVID-19 pandemic, there has been an increasing number of cases in the South American countries. According to the International Council of Nurses, the number of deaths of health professionals in Brazil are greater than the numbers in other countries, which can be associated with the high transmission of the virus. As Brazil has many populated regions with small houses with 6-7 people per house, the virus has spread rapidly. Currently, the countries in this region are rapidly increasing its clinical programs to fight against the novel coronavirus.  In this scenario, Brazil is facing enormous difficulties in the management of cancer, head and neck surgeries, chronic neurological disorders such as brain aneurysms, and headache and neurodegenerative diseases. Due to inadequate monitoring, many patients end up being admitted to emergency departments due to decompensation of their cancer and neurological disease. During the pandemic, patients with cancer and stroke, as well as other neurological conditions, have been arriving late at the hospital, and the treatment procedures of such patients fall outside the therapeutic window for acute intervention. In addition, the country also faced difficulties in obtaining beds in the intensive care unit for management of these disease amid the COVID-19 crisis. These factors are limiting the South and Central America embolization agents market growth.

The embolization agents market is segmented into product, application, end user, and country. Based on product, the market is segmented into coils, beads/particles, plugs, detachable balloons, glue, sponge, liquid embolics, sclerosants, precipitating agents, others. The beads/particles segment held the largest share of the market in 2020. Based on coils the market is divided into detachable coils and pushable coils. The pushable coils segment held the largest share of the market in 2020. Based on beads/particles the market is divided into spherical and non-spherical. The pushable non-spherical segment held the largest share of the market in 2020. Based on application, the market is segmented into neurology, oncology, cardiology, peripheral vascular diseases, and others. In 2020, the oncology segment is likely to hold the largest share of the market. The embolization agents market by end user, is segmented into hospitals, ambulatory surgical centers, cardiac centers, and others. The hospitals segment held the largest share of the market in 2020. Based on country the market is divided into Brazil, Argentina, and rest of South and Central America. In 2020, Brazil is likely to hold the largest share of the market.

Abbott; Boston Scientific Corporation; Cook Medical LLC; DePuy Synthes; KANEKA CORPORATION; Medtronic; Merit Medical Systems Inc; Stryker Corporation; and Terumo Corporation are among the leading companies in the South and Central America embolization agents market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Terumo Corporation announced the acquisition of Quirem Medical B.V., a healthcare company based in the Netherlands that specializes in the development of next-generation microspheres for Selective Internal Radiation Therapy (SIRT), a liver tumor treatment. Terumo bought 80.1 percent of Quirem Medical's shares under the terms of the agreement.

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