The absorbable tissue spacer market is expected to grow at a compound annual growth rate (CAGR) of more than 4.0% to reach US $145.0 million by 2028.
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"The Global Absorbable Tissue Spacer Market 2018-2028 (USD Million)")
The global absorbable tissue spacer market was valued at USD 94.5 million in 2019. The global burden of prostate cancer, primarily in the elderly population males, is fueling the development of the global demand for absorbable tissue spacers. Prostate cancer is known to be one of the most prevalent cancer for men in North America and other geographies, after skin cancer, according to the American Cancer Society. The predicted prevalence of prostate cancer by the American Cancer Society reports that there will be around 174,650 additional prostate cancer cases in 2019 and 31,620 prostate cancer deaths in 2019.
In order to treat multiple forms of tumors, cancer researchers are actively working towards increasing adoption rate of absorbable tissue spacers. Absorbable tissue spacers shield neighboring healthy tissues from heavy radiation following careful positioning, resulting in improved dose distribution concentrations to the infected organ. Thus reducing adverse procedural events. This also skips the need for a second spacer removal surgery as they disappear progressively into the tissues. Such advantages are key reasons for spur in the demand for absorbable tissue spacers.
Absorbable Tissue Spacer Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2018-2019 |
| Forecast Period | 2022-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD 145.0 million |
| Growth Rate | CAGR of 4.0% during 2018-2028 |
| Segment Covered | Product, Application, End User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Key Players Profiled | Biocomposites, Bioprotect Ltd, Boston Scientific, BD, Palette Life Sciences and many more. |
Key segments of the global absorbable tissue spacer market
Product Overview, (USD Million)
- Hydrogel Based Spacers
- Biodegradable Balloon Spacers
Application Overview (USD Million)
- Radiotherapy
- Infection Management
End User Overview, (USD Million)
- Hospitals
- Ambulatory Surgical Centers
- Others
Regional Overview, (USD Million)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- Increasing Government Support for the Pharmaceutical & Biotechnology Industry
- Growth in Biopharmaceutical Industry
What does the report include?
- The study on the global absorbable tissue spacer market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of Product, end use, Application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global absorbable tissue spacer market is suitable for all the players across the value chain including raw material suppliers, absorbable tissue spacer providers, pharmaceutical and medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global absorbable tissue spacer market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global absorbable tissue spacer market
Frequently Asked Questions (FAQ) :
The application of the absorbable tissue spacer market Radiotherapy and Infection Management
The major contenders in the global market are Biocomposites, Bioprotect Ltd, Boston Scientific, BD, Palette Life Sciences and many more.
The market value of absorbable tissue spacer market in 2028 was USD 145.0 million
With scientific advances in the area of radiation, automation of radiation therapy is being actively applied. In order to develop a successful cure, radiation therapy facilities are gradually using innovative software and technology, such as absorbable tissue spacers. More effective modes of care, including diagnosis and follow-up, have been facilitated by technical advancements.
The majority of industrialized and emerging markets are investing in new technology for radiation, such as absorbable tissue. The overarching desire to increase healthcare quality and to modernize care is the driving force. In order to cope with the rising number of cancer patients in these countries, developing markets are especially under-equipped with these technologies. If countries with low to medium incomes gain more access to westernized cancer testing facilities and technology, cancer detection rates are growing, and the demand for absorbable tissue spacers faces new prospects across regions.
The global market is segmented on the basis of product, end user and application. The product segment is further broken down to hydrogel based spacers and biodegradable balloon spacers). In terms of application, the market is bifurcated into radiotherapy and infection management). On the basis of end user the market is segmented into hospitals, ambulatory surgical centers, and others. Hydrogel-based absorbable tissue spacers accounted for more than 60% of the market in 2019. These are increasingly becoming an essential component of radiotherapy for prostate cancer and are one of the few absorbable tissue spacers that in most countries have earned government approval.
On the basis of region, the global market is classified into North America, Europe, Asia Pacific, Central & South America, and Middle East and Africa. In 2019, North America dominated the global market and is antipcated to maintain its leading position through 2028.
The lenient regulations within the U.S. coupled with product availability across the country is the major reason for such highly established market for spacers. Continuous research with efficient reimbursement scenario for cancer patients has resulted in increasing adoption rates in past few years.
Key players in the market include Biocomposites, Bioprotect Ltd, Boston Scientific, BD, Palette Life Sciences and many more. Key players are replacing non-absorbent materials with bio-absorbent materials due to their advantages and high number of product approvals from regulatory bodies. Such trend is likely to bring more bio-based spacers in the market.