Absorbable Tissue Spacer Market - Key Research Findings
- The global absorbable tissue spacer market size in 2018 was ~US$ 80.0 Mn.
- The absorbable tissue spacer market is expected to grow at a CAGR of ~10% during the forecast period of 2019-2029.
- High prevalence of prostate cancer, majorly in the geriatric male population to fuel the growth of the global absorbable tissue spacer market. As per the American Cancer Society, prostate cancer is considered to be the 2nd most common cancer for men in America, after skin cancer. The estimated incidence provided by the American Cancer Society states that there is going to be approximately 174,650 new cases of prostate cancer in 2019 and 31,620 deaths from prostate cancer in 2019
- Collectively, Europe and North America are likely to account for three fourth of the revenue shares in absorbable tissue spacer, by the end of 2029.
- North America, attributing to the strong presence of major players operating in the market, however, growing prevalence is the major driver driving the growth of the absorbable tissue spacer. Data provided by the National Cancer Institute, U.S., that around 11.6% of men are likely to be diagnosed with prostate cancer during their lives. This constant increase in the incidence of prostate cancer across regions, requiring radiation therapy might tremendously push the market growth for absorbable tissue spacer over the course of forecast
- The hydrogel-based spacer is expected to remain the prominent product type to invest in, for absorbable tissue spacer market players.
- Hydrogel-based spacer segment is a key segment, which is expected to witness significant rise in revenue share over the forecast period, owing to high popularity and penetration of the product across
- The absorbable tissue spacer market is estimated to witness robust growth over the course of the forecast period. The demand for hydrogel-based absorbable tissue spacer, is expected to be driven by their ability to improve efficiency, longevity, and lesser complications compared to conventional techniques for maintaining rectal space.
Top Factors Shaping the Absorbable Tissue Spacer Market
Wide popularity of Radiation Therapy for Cancer Treatment
With technological evolution in the field of radiation, automation is successfully implemented in radiation therapy. Radiation therapy centers are increasingly using advanced software, and technologies such as absorbable tissue spacer, for developing an effective treatment. Technological advances have enabled more efficient forms of treatment, including diagnosis and follow-up.
Most of the developed and developing markets are investing in new radiation technologies like absorbable tissue. The driving forces are the underlying need to improve clinical efficiency, and modernizing treatment.
Emerging markets are particularly underequipped with these technologies to deal with the growing number of cancer patients in these countries. As low to middle income countries gain more access to westernized cancer diagnostic facilities and technologies, cancer diagnoses rates are rising, and absorbable tissue spacer market is facing new opportunities across regions.
Increasing Incidence of Prostate Cancer
As per the American Cancer Society, prostate cancer is considered to be the 2nd most common cancer for men in America, after skin cancer. The estimated incidence provided by the American Cancer Society states that there is going to be approximately 174,650 new cases of prostate cancer in 2019 and 31,620 deaths from prostate cancer in 2019. Prostate cancer is estimated to be developed for approximately 60% of men who are above the age of 65 years.
The consistent rise in the male geriatric population is considered to be one of the key factors for the rise in incidence for prostate cancer. As per the statistics provided by the National Collaborating Centre for Cancer (UK), prostate cancer is also the second leading cancer types for men in the U.K and age is considered to be one of the strongest risk factors associated with prostate cancer. Data provided by the National Cancer Institute, U.S. states that around 11.6% of men are likely to be diagnosed with prostate cancer during their lives.
This constant increase in the incidence of prostate cancer across regions, requiring radiation therapy might tremendously push the market growth for absorbable tissue spacer over the course of forecast.
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Increasing Investments and R&D
The absorbable tissue spacer market is extremely compact with four players operating the market. Ongoing clinical studies in various regions for diverse applications of absorbable tissue spacers. Investments and funding for the manufacturers working in the absorbable tissue spacer market is also on the rise.
Government support on investments related to capital costs in order to improve the healthcare infrastructure in various regions is one of the factors that is expected to spur the market for absorbable tissue spacer during the forecast period.
Funding for the manufacturers functioning in the absorbable tissue spacer market and acquisitions, mergers, licensing agreements and distribution are also expected to drive the market and further boost the demand for absorbable tissue spacer during the forecast period.
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
Treating Cancer without Side-effects with Clinically-tested Absorbable Tissue Spacers
Radiation therapy or particle therapy involves emission of high-energy rays, such as, X-rays that destroy the cancer cells in the target area or tumor as well as the normal cells in its vicinity, resulting in lasting radiation morbidities, for instance, nausea and dry mouth, among others. To tackle the side-effects, manufacturers are introducing absorbable tissue spacers that counter the effect of the radiation by creating a physical barrier between the prostate and the rectum, enabling efficient and more specific delivery of radiation doses to the target tissue.
As per the clinical trials conducted earlier by dosimetrists, doctors typically do not prefer implantable rectal spacers (IRS) due to their potential displaceability after certain time post- deployment, further leading to complications. Manufacturers are thus introducing virtual absorbable tissue spacers with Computed Tomography (CT) and Magnetic Resonance Imaging (MRI) scans that simplify the decision-making process for surgeons by precisely helping them predict the required amount of absorbable tissue spacer to be injected prior its actual implantation.
Furthermore, an upsurge can be witnessed in the number of clinical trials demonstrating high tolerability and low rectal treatment-related toxicity by leveraging absorbable tissue spacers, for instance, biodegradable hyaluronic acid spacer.
Upgrading Medical Facilities amidst High Operational Costs
Oncologists are maneuvering non-absorbent materials, including, silicon balloons and sheets as tissue spacers in the abdomen and intestines, or absorbent mesh to shield the intestines or other organs from the radiation field, compelling patients to undergo a second surgery to remove the spacer and thereby, avoid serious complications.
Manufacturers are leveraging biodegradable materials, such as, polyglycolic acid (PGA) and non-woven fabric to produce absorbable tissue spacers that are subject to easy absorption and excretion in the form of urine post six months of the injection. Based on some clinical studies, patients exposed to radiation therapy without absorbable tissue spacer have comparatively greater tendency to experience degraded quality of life in domains including, urinary, sexual and bowel.
However, patients in most of the economies are yet to access advanced healthcare services and radiation therapy treatment owing to high expenses of radiotherapy equipment and building of treatment rooms, eventually increasing the cost of services. National healthcare authorities in low and medium economies are failing to deliver efficient and top-quality cancer treatments, given huge financial burden over the price-sensitive demographic.
Increasing Cases of Prostate Cancer in Developed Regions
Europe was the sole contributor to absorbable tissue spacers sales till a couple of years ago, as indicated by research. However, it is highly likely that the market in North America will take the lead post 2019, on account of the regulatory approvals expected for absorbable tissue spacers. Prostate cancer is the 2nd most common cancer within the USA, following skin cancer, whereas the most common one in the UK.
A research estimated that about 174, 000 new prostate cancer cases will be diagnosed in the US alone this year, while over 47, 000 men are affected with prostate cancer annually in the UK. Further, leading US and UK-based manufacturers are receiving regulatory allowances for commercializing absorbable tissue spacers in countries, including Japan and Australia, thereby boosting the growth of absorbable tissue spacer market in North America and Europe.
Significant Trends Influencing Stakeholders’ Winning Tactics
The current market scenario is being run by four players, including Boston Scientific Corporation (Augmenix), Palette Life Sciences, BIOPROTECT LTD., and Biocomposites. Manufacturers are substituting non-absorbent materials, such as, silicone with bio-absorbent materials, for instance, hydrogel-based spacers and are performing clinical research on them for approval in regulatory bodies, including the Food and Drug Administration (FDA), and similar international regulatory agencies.
Market players are developing absorbable tissue spacers in collaboration with leading hospitals and medical professionals. Furthermore, manufacturers are deepening their product pipeline by penetrating the developing economies of APAC and MEA.
How Growth Will Unfold
The absorbable tissue spacer market is estimated to witness tremendous progress despite stringent regulatory barriers over the forecast period. In countries, such as the USA and the UK, prostate cancer is among the most prominent cancers among the male geriatric population, critically demanding radiation therapy, eventually fueling the demand for absorbable tissue spacers.
A majority of cancer patients have to undergo radiation therapy during the course of their disease, with 7 out of 10 patients resorting to radiotherapy for their treatment, be it of breast, prostate, lung or esophagus. Furthermore, about one-third of the global population is likely to be prone to cancer by 2020, thereby, propelling the growth of the absorbable tissue spacer market.
By Product Type
- Hydrogel-Based Spacer
- Biodegradable Hyaluronic Acid Spacer
- Biodegradable Balloon Spacer
- Crystal-Based Spacer
- Infection Management
By End Use
- Ambulatory Surgical Centres
- Specialized Clinics
- North America
- Latin America
- South Asia
- East Asia