Drug Eluting Beads Market: Snapshot
Expansive growth opportunities are forecasted for the drug eluting beads market across the forecast period of 2020-2030. The growing prevalence of liver diseases across the globe can bring good growth opportunities for the drug eluting beads market. The drug eluting beads therapy is primarily used for treating hyper vascularized tumors. These beads allow the continuous release of chemotherapeutic agents.
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Based on type, the drug eluting beads market can be classified into Quadra Sphere, Oncozene Beads, LC Beads, and others. The drug eluting beads market, on the basis of application can be segmented into research centers, ambulatory surgical centers, specialized clinics, and hospitals.
This report provides an extensive analysis of the factors that bring good growth for the drug eluting beads market. The report also focuses on growth parameters such as competitive landscape, key trends, regional assessment, etc. The study helps the stakeholders to grasp the diverse growth factor of the drug eluting beads market conscientiously. The report also brings substantial information about the COVID-19 impact on the drug eluting beads market.
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Drug Eluting Beads Market: Competitive Assessment
The drug eluting beads market comprises numerous players that are involved in neck-to-neck competition for gaining a prominent position. The players in the drug eluting beads market are also involved in mergers, acquisitions, joint ventures, collaborations, and partnerships for strengthening their position. These activities also ensure a rise in the growth rate for the drug eluting beads market. For instance, Varian Medical Systems acquired two product lines from Boston Scientific and Alicon for entering the drug eluting beads market.
Some well-entrenched players in the drug eluting beads market are as follows:
- Medtronic, Inc.
- ABK Biomedical, Inc.
- Merit Medical Systems
- Terumo Corporation
- CeloNova BioSciences, Inc.
- Surefire Medical, Inc.
- Biocompatibles UK Ltd.
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Drug Eluting Beads Market: Key Trends
The ballooning number of liver diseases around the world will prove to be an important growth generating factor for the drug eluting beads market. The growing awareness about the adoption of drug eluting beads therapy may also prove to be an important growth factor for the drug eluting beads market.
The drug eluting beads market has progressed immensely over the years. BTG, a UK-based company bagged the clearance for its DC Bead LUMI radiopaque drug eluting bead and it was the first such device available in Europe. The beads are injected into the tumors with the liver and with the help of radiopacity and allow the physician to track the beads in the tumor, thus assuring the patients of correct treatment. Many similar developments have taken place over the years and have helped in increasing the growth rate of the drug eluting beads market greatly.
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Drug Eluting Beads Market: COVID-19 Impact
As the drug eluting beads market comes under the pharmaceuticals category, the production was not impacted to a large extent by the lockdown norms imposed by various countries to contain the spread of the virus. Therefore, the drug eluting beads market is minimally affected by the COVID-19 outbreak.
However, some disruptions in the supply chain logistics have resulted in dampening the growth of the drug eluting beads market. Nonetheless, the relaxations in the restrictions to put the economy back on track will help the drug eluting beads market greatly in gaining the lost growth. Thus, the post-lockdown era may prove to be an important period for the drug eluting beads market.
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Drug Eluting Beads Market: Regional Perspective
The drug eluting beads market can be geographically segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. North America may gain an upper hand in terms of growth contribution to the drug eluting beads market. Novel technology adoption may serve as an important growth factor for the drug eluting beads market in the region. Europe may also gain substantial growth for the drug eluting beads market across the forecast period.
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