FMI, in its latest research study, examines the absorbable tissue spacer market and presents actionable insights on its progress over the evaluation timespan of 2019-2029. As per the research study, the global absorbable tissue spacer market reached ~US$ 85 Mn in terms of value in 2018, and is expected to propel at an impressive CAGR of ~10 % during the forecast period.
Surging demand for radiation therapy in the backdrop of rising morbidities due to cancers as compared to other chronic diseases altogether in developed and under-developed economies are surfacing as the cornerstone for the progress of absorbable tissue spacer market, says the FMI study. Furthermore, stringent legal policies will persist to regulate the emission of high-energy rays during radiotherapy treatment and assure patient safety, which is likely to motivate manufacturers to perform clinical studies by consulting with experts.
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Increasing prevalence of cancers continues to be a global concern, and elimination of cancerous tissues in an efficient way remains of core interest for oncologists and dosimetrists. The leading participants in absorbable tissue spacers market landscape are focusing on conducting clinical trials to develop spacers that are tailored to specific needs of the target area.
Hydrogel-based Spacer Remains Preferred among Surgeons
As per the findings of FMI’s research, hydrogel-based absorbable tissue spacers account for ~3/4th shares of total sales. The report further suggests that the hydrogel-based spacer is rapidly becoming an integral component of prostate cancer radiotherapy and is one of the few absorbable tissue spacers that have received government clearance in most of the countries.
Hydrogel-based spacers have high tolerability as the space created between prostate and rectum efficiently lowers the emission concentration on the rectum, significantly reducing irritation of rectum during prostate radiotherapy. Placing hydrogel-based spacers is technically less-complicated, especially for surgeons who are aware of ultrasound-directed transperineal injections. Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scans enable confirmation about proper deployment of spacers. Furthermore, patients undergoing radiation therapy with hydrogel-based spacers are lesser prone to adverse long-term rectal complications and relatively decreased amount of rectal pain during treatment, making hydrogel-based spacer most sought-after among oncologists.
Cancer specialists are constantly shifting towards absorbable tissue spacer to cure different types of cancers. Absorbable tissue spacers, after proper placement, protects the adjacent healthy tissues from strong radiation, resulting in increased concentration of dose delivery at the affected organ, thereby eliminating adverse procedural events. Further, absorbable tissue spacers avoid the need for a second surgery for spacer removal as they gradually dissolve into the tissues.
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Absorbable Tissue Spacer Market Structure Analysis
- The global absorbable tissue spacer market is a highly consolidated market owing to the presence of major players.
- The oligopoly nature of the global absorbable tissue spacer market offers the key players a strong hold in their revenue share.
- The manufacturers in the absorbable tissue spacer market includes Boston Scientific Corporation (Augmenix), Palette Life Sciences, Biocomposites, and BioProtect Ltd.
- Manufacturers are focusing on receiving product approvals for the absorbable tissue spacer products across different regions. The manufacturers are investing high amounts of capital on clinical studies and commercialization of their products across regions.
- The major player in the market holds a revenue share of ~70% in the global absorbable tissue spacer market.
- Collaboration, distribution agreements, and acquisitions with strong local players in regions such as North America, Europe, and East Asia is the key market strategy being employed by major players in absorbable tissue spacer market operating globally.
- Key market players in absorbable tissue spacer market is focused on maintaining strong association with distribution partners across the globe and enhancing investments in the R&D for wide product penetration for the global absorbable tissue spacer market.
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