by The prostatic artery embolization market involves minimally invasive procedures that block the small blood vessels that supply blood to the prostate gland. This treatment helps in managing symptoms of benign prostatic hyperplasia by reducing enlarged prostate size and relieving urinary obstruction. It is performed by an interventional radiologist through catheterization of the femoral artery and identifying prostatic arteries using fluoroscopy for selective embolization. The procedure provides relief from urinary symptoms and improves quality of life with shorter hospital stays and reduced risks as compared to transurethral resection of the prostate.
The Global Prostatic Artery Embolization Market is estimated to be valued at US$ 270.72 Bn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Prostatic Artery Embolization Market Demand are Ingersoll-Rand plc (Nexia), Vivint, Inc., Protection One Alarm Monitoring, Inc., The ADT Corporation, Telus Communications, Frontpoint Security Solutions, AT&T Inc., Johnson Controls, Inc., Comcast Corporation, Charter Communications (TWC), and CenturyLink, Inc. The increasing awareness about minimally invasive treatment options and rising geriatric population suffering from benign prostatic hyperplasia drives the demand for prostatic artery embolization. Various factors like technological advancements, favorable reimbursement policies, and growing preference for outpatient procedures are fueling the adoption of prostatic artery embolization globally.
The growing demand for prostate artery embolization is attributed to rising cases of benign prostatic hyperplasia among the male population worldwide. It is a common health issue affecting over 50% of men in their 50s and over 80% of men in their 70s and 80s. According to the National Association of Prostate Cancer Survivors, 1 in 9 men under 60 years of age and 1 in 5 men over 65 years of age are affected by benign prostatic hyperplasia.
The global expansion of the prostatic artery embolization market is driven by increasing awareness about the procedure through conferences, meetings, and social media marketing by key industry players. Favorable medical reimbursement for minimally invasive procedures and availability of technologically advanced devices are supporting the adoption in developed markets. Additionally, emerging economies are anticipated to showcase high growth owing to improving healthcare infrastructure and rising healthcare expenditure.
Market key trends
One of the key trends in the prostatic artery embolization market is the development of minimally invasive robotic platforms. Manufacturers are focusing on innovative technological solutions like robotic navigation and imaging systems to perform prostate artery embolization. Robot-assisted procedures allow conducting minimally invasive treatments with improved precision, flexibility, and control. This enhances the safety profile and clinical outcomes of prostatic artery embolization.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established industry players make entry difficult. Bargaining power of buyers: Individual consumers have low negotiating power against large established players. Bargaining power of suppliers: A few large suppliers dominate the market which gives them stronger negotiating position. Threat of new substitutes: Alternate security options like home security cameras provide substitutes but are not complete replacement. Competitive rivalry: Intense competition among major players results in pricing pressures and marketing innovations.
Geographical Regions
North America remains the major revenue generating region for prostatic artery embolization market currently. This is mainly attributed to developed healthcare infrastructure, favorable reimbursement policies and increasing adoption of minimally invasive treatments in the region. Asia Pacific represents the fastest growing region owing to rising geriatric population, growing medical tourism and increasing healthcare expenditure in major emerging countries of China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
