The global absorbable tissue spacer market is poised for remarkable growth, with projections indicating a substantial increase to surpass USD 303.8 million by 2032. This anticipated surge represents a robust Compound Annual Growth Rate (CAGR) of approximately 10% during the forecast period of 2022-2032.
A primary driver of this growth is the alarming rise in the prevalence of prostate cancer, particularly among the geriatric male population. Prostate cancer is the second most common cancer among men in America, trailing only skin cancer, according to data from the American Cancer Society. The projected incidence for 2019 alone is approximately 174,650 new cases, with an estimated 31,620 deaths attributed to prostate cancer. This escalating incidence underscores the urgent need for effective treatment solutions, including absorbable tissue spacers.
Geographically, Europe and North America are anticipated to dominate the revenue shares of the absorbable tissue spacer market, jointly accounting for three-quarters of the market by 2032. North America, in particular, benefits from the presence of key market players and is witnessing a surge in prevalence, with data from the National Cancer Institute revealing that approximately 11.6% of men are expected to be diagnosed with prostate cancer during their lifetimes.
Hydrogel-based spacers emerge as the leading product type within the market, poised to experience significant revenue growth throughout the forecast period. The popularity and widespread adoption of hydrogel-based spacers can be attributed to their efficacy, durability, and reduced complications compared to conventional techniques for maintaining rectal space.
“The absorbable tissue spacer market is entering a phase of unprecedented growth driven by the escalating prevalence of prostate cancer and the increasing adoption of hydrogel-based solutions,” said a representative from FMI. “As leaders in this space, we are committed to advancing innovative solutions that enhance patient outcomes and address the evolving needs of healthcare providers.”
With demand expected to surge, market players are gearing up to capitalize on opportunities within the absorbable tissue spacer market. Continued investment in research and development, strategic partnerships, and product innovation will be instrumental in meeting the growing demand and driving the market forward.
Key Takeaways: Absorbable Tissue Spacer Market
- Market size is expected to grow significantly, reaching over USD 303.8 million by 2032 from USD 80 million in 2018.
- Anticipated growth rate of around 10% annually between 2022 and 2032.
- Rising prostate cancer cases, particularly among older men, is a major driver. Prostate cancer is the second most common cancer in men after skin cancer (according to the American Cancer Society).
- North America and Europe are expected to hold the dominant share (three-fourths) of the market by 2032.
- North America’s strong market presence and increasing prostate cancer rates are key factors for its growth. Over 11% of men in the US are likely to be diagnosed with prostate cancer in their lifetime (National Cancer Institute data).
- Hydrogel-based spacers are expected to be the most popular product type due to their widespread use and effectiveness.
- The market is predicted to experience strong growth due to the advantages of hydrogel spacers, such as improved efficiency, durability, and fewer complications compared to traditional methods for maintaining rectal space during treatment.
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Key Players:
- Boston Scientific Corporation (Augmenix)
- Palette Life Sciences
- BIOPROTECT LTD.
- Biocomposites
- Key Segment
By Product Type
- Hydrogel-Based Spacer
- Biodegradable Hyaluronic Acid Spacer
- Biodegradable Balloon Spacer
- Crystal-Based Spacer
By Application
- Radiotherapy
- Infection Management
By End Use
- Hospitals
- Ambulatory Surgical Centres
- Specialized Clinics
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
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