The impact of COVID-19 pandemic can be felt across the Healthcare Industry The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in Pharmaceuticals plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the Healthcare Industry
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the Healthcare Industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
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Embolism is the blockage of blood vessel which creates a barrier for blood supply. Liquid Embolic agents are used to prevent blood supply to tumor or aneurysm. It helps in suppressing the growth and the adverse effects potentially caused by tumors and aneurysms to the vital organs. Traditionally, coils have been used as embolic agents but liquid embolic agents have the advantage over expense and flexibility as well as over the threat of vascular injury during navigation. Liquid embolic agents are injected through a DMSO compatible micro-catheter. Visualization by fluorescence is facilitated in the liquid embolic systems for convenient navigation to the target site. Liquid embolic agents are used to treat cerebral arteriovenous malformations (AVMs), spider veins, smaller varicose veins, hemorrhoids, hydroceles, etc.
The global liquid embolic market is projected to register significant growth over the forecast period owing to the increasing adoption of liquid embolic agents as well as due to favorable clinical research results. The increasing prevalence of arteriovenous malformation, rise in the incidence of tumor, and aneurysms are factors anticipated to impel the demand for liquid embolic agents and drive the global liquid embolic market. The advantages over the limitations of coils are also expected to enhance the growth of liquid embolic market over the forecast period. Liquid embolic agents have an advantage of ability to penetrate and pass through complex vascular structure which allows easy surgery. Further fueling easy surgery is the rapid action nature of the liquid embolic agents. Moreover, the rising number of clinical trials and doctor testimonies are expected to propel the liquid embolic market.
However, liquid embolic agents may not be suitable for everyone and there lies a potential risk in embolization of incorrect or untargeted blood vessel. Such conditions may limit the growth of the liquid embolic market. Shortage of manufacturers and insufficient supply of liquid embolic agents are another factors that hinder the demand for the liquid embolic agents and restrain the growth of global liquid embolic market.
The global liquid embolic market is apprehended to foresee remarkable growth in the near future due to in use and new product launches and rising awareness about the pros of usage of liquid embolic agents. However, liquid embolic agents are not universally accepted as standard treatment yet, despite various clinical trials. The global liquid embolic market holds the potential to expand on product popularization. For this reason, companies are focusing on conducting surgeon seminars and conferences to showcase the applicability of the product and entering untapped markets.
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Liquid Embolic Market: Segmentation
The global liquid embolic market can be segmented on the basis of drug class, route of administration and distribution channel.
- By product type, the global liquid embolic market is segmented as:
- DMSO-based embolics
- Sclerosants foams
- By material used, the global liquid embolic market is segmented as:
- Polymer dissolved in non-adhesive DMSO
- N-butyl-2 cyanoacrylate (NBCA)
- Absolute alcohol
- By end users, the global liquid embolic market is segmented as:
- Ambulatory Surgical Centers
In terms of geography, the liquid embolic market is segmented into five key regions, namely North America, Latin America, Europe, Asia pacific (APAC), and the Middle East & Africa (MEA). North America is one of the lucrative markets for liquid embolic market owing to the faster adoption of innovative techniques for surgeries as well as large research and development environment. Europe liquid embolic market is expected to register significant growth over the forecast period due to higher spending on healthcare research and presence of key players. APAC is also anticipated to register significant growth in the liquid embolic market over the forecast period due to the rising availability of the product as well as emerging players in the liquid embolic market.
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Examples of some of the key participants in the global blood clot prevention drug market are,
- BALT EXTRUSION
- Medtronic plc.
- Cardinal Health
- Johnson & Johnson (Codman & Shurtleff, Inc.)
- Terumo Corporation (Microvension)
- Gem srl, B. Braun Melsungen AG
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