New York, NY, Dec. 14, 2020 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Absorbable Tissue Spacer Market By Product Type (Hydrogel-Based Spacer, Biodegradable Hyaluronic Acid Spacer, Biodegradable Balloon Spacer, And Crystal-Based Spacer), By Application (Radiotherapy, And Infection Management), By End Users (Hospitals, Ambulatory Surgical Centres, And Specialized Clinics): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global Absorbable Tissue Spacer Market was estimated at USD 95 Million in 2019 and is expected to reach USD 132 Million by 2026. The global Absorbable Tissue Spacer Market is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2019 to 2026.
The Global Absorbable Tissue Spacer Market Is Powered By Increasing Prostate Cancer Incidence, Wide Popularity Of Cancer Care Radiation Therapy And Increased Investment And R&D In Healthcare.
With technological developments in the field of radiation, automation in radiation therapy is being fully deployed. In order to develop an effective treatment, radiation therapy centers are adopting advanced technologies that include absorbable tissue spacers at a rapid space. More efficient forms of treatment such as diagnosis and follow-up have been enabled by rapid technological advancement. The majority of developed and developing markets are investing in new technologies for radiation, such as absorbable tissue. The underlying need to enhance clinical productivity and to revitalize treatment is driving the target market.
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- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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The growing demand for radiation therapy around the globe is a key driving factor in the growth of the market for absorbable tissue spacers. A majority of patients with cancer receive radiation therapy and that eventually leads to the overall business growth. Furthermore, stringent regulatory requirements for the use of controlled high-energy rays during radiation therapy are in place. While this will initially slow down the growth of the industry, manufacturers will involve practitioners to perform clinical trials and develop more successful techniques. This is expected to generate sufficient business opportunities for the growth of the worldwide market.
Top market Players:
- Boston Scientific
- CR Bard, BioProtect
- Palette Life Sciences
- Biocomposites Limited
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Manufacturers are working on obtaining product approvals in various regions for absorbable tissue spacer devices. Manufacturers are spending large amounts of capital on clinical trials and region-wide marketing of their products. Additionally, the market participants concentrate on maintaining strong partnerships with distribution channels worldwide and invest in R&D for distributing products widely.
Absorbable Tissue Spacer Market: Key Segment Analysis
The worldwide market for absorbable tissue spacer is categorized into product type, application, and end-use. Based on product type, the market has been classified into a biodegradable hyaluronic acid spacer, hydrogel-based spacer, crystal-based spacer, and biodegradable balloon spacer. Hydrogel-based tissue spacers are used in many cancer areas. The application of the prostate-rectum hydrogel spacer is a relatively secure technical procedure that is well tolerated and has a high rate of technical success. The spacer application significantly reduces the dose of rectal radiation and results in reductions in rectal toxicity, and improvements in the quality of life of the urine, intestines, and sex. On the basis of application, the market is divided into radiotherapy, and infection management. In terms of end-use, the worldwide market for absorbable tissue spacer is segmented into ambulatory surgical centers, specialized clinics, and hospitals, among others. The hospital segment has accounted for prominent share of the global market. The segment is estimated to expand significantly during the forecast period, due to an increase in the number of prostate cancer, and the wide popularity of radiation therapy for cancer treatment.
Global Absorbable Tissue Spacer Market: Product Type Analysis
- Hydrogel-Based Spacer
- Biodegradable Hyaluronic Acid Spacer
- Biodegradable Balloon Spacer
- Crystal-Based Spacer
Global Absorbable Tissue Space market: Application Analysis
- Infection Management
Global Absorbable Tissue Spacer Market: End Use Analysis
- Ambulatory Surgical Centers
- Specialized Clinics
Browse the full “Absorbable Tissue Spacer Market By Product Type (Hydrogel-Based Spacer, Biodegradable Hyaluronic Acid Spacer, Biodegradable Balloon Spacer, And Crystal-Based Spacer), By Application (Radiotherapy, And Infection Management), By End Users (Hospitals, Ambulatory Surgical Centers, And Specialized Clinics): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026″ report at https://www.fnfresearch.com/absorbable-tissue-spacer-market
The high prevalence of prostate cancer, primarily in the geriatric male population, is fueling the growth of the global market for absorbable tissue spacers. Prostate treatment is known to be the 2nd most common cancer for men in America, after skin cancer, according to the American Cancer Society. The predicted incidence of prostate cancer by the American Cancer Society reports that there will be around 174,650 new prostate cancer cases in 2019 and 31,620 prostate cancer deaths in 2019. Henceforth such factors propel market growth in recent years.
The absorbable tissue spacer market research report delivers an acute valuation and taxonomy of the absorbable tissue spacer market by practically splitting the market on the basis of different product types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
Absorbable Tissue Spacer Market: Geographical Analysis
In terms of geography, North America has accounted for the highest market share during the forecast period, due to the increasing number of prostate cancer and extensive research in the field of diagnostics is driving the market in this region. The ease of the regulations of the US government and the allocation of capital from different organizations, such as the National Institute of Health, provided researchers with the opportunity to invest further in developing absorbable tissue spacers. Therefore, it is projected to hold a major share of the global absorbable tissue spacer market due to the aforementioned factors. The Asia Pacific is anticipated to grow substantially over the projected years owing to investment in healthcare infrastructure.
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