The global absorbable tissue spacer market, valued at US$ 80 million in 2018, is set to achieve remarkable growth, with projections indicating a substantial increase to cross US$ 303.8 million by the year 2032. A leading market intelligence provider, forecasts a robust Compound Annual Growth Rate (CAGR) of approximately 10% during the forecast period of 2022 to 2032.
The driving force behind this surge is the high prevalence of prostate cancer, particularly in the geriatric male population. Prostate cancer stands as the 2nd most common cancer for men in America, following skin cancer, according to data from the American Cancer Society. The estimated incidence for 2019 reveals approximately 174,650 new cases and 31,620 deaths from prostate cancer. This alarming trend underscores the critical need for innovative solutions in cancer treatment.
Geographically, Europe and North America are anticipated to collectively account for three-fourths of the revenue shares in the absorbable tissue spacer market by the end of 2032. North America, in particular, is witnessing substantial growth, driven by a strong presence of major market players and the escalating incidence of prostate cancer. Data from the National Cancer Institute, U.S., indicates that around 11.6% of men are likely to be diagnosed with prostate cancer during their lives. This consistent rise in prostate cancer incidence, coupled with the increasing demand for radiation therapy, is expected to propel the absorbable tissue spacer market’s growth throughout the forecast period.
The market dynamics underscore the urgency for advanced and effective solutions in cancer care. As key players in the absorbable tissue spacer market continue to innovate, the industry is poised for significant advancements in the years ahead.
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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