Global Prostatic Artery Embolization Market- Impact of COVID-19
The COVID-19 pandemic has impacted growth of various markets, and it is also expected to hamper the growth of the global Prostatic Artery Embolization Market during the forecast period. Moreover, implementation of nationwide lockdown in several countries and safety precautions suggested by World Health Organization to decrease the risk of spread of COVID-19 while performing surgical procedures it has become very difficult to conduct surgical procedures in patients.
Prostatic artery embolization is a short invasive treatment used to treat prostate gland enlargement due to benign prostate hyperplasia (BPH) and its associated urinary tract symptoms. Benign prostate hyperplasia is a non-malignant enlargement of the prostate gland and mostly found in men. Prostatic artery embolization is performed when prostate tumor grows bigger and the patient may have uncontrollable urinary tract symptoms. Prostatic artery embolization is an alternative treatment for surgical procedures which is performed through interventional radiology. In a prostatic artery embolization procedure, the interventional radiologist shrinks the prostate by treating blood vessels in the prostate through an incision in the patient’s upper thigh.
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Global Prostatic Artery Embolization Market- Drivers
Prostatic artery embolization is more effective than surgical prostate gland enlargement. Prostatic artery embolization has several advantages compared to surgical procedures such as less morbidity, fast recovery. Moreover, the prostatic artery embolization is short invasive treatment than traditional prostatic treatment. Therefore, several healthcare facilities are implementing prostatic artery embolization treatment due to its efficiency and safety. According to the University of California and San Francisco (UCSF), Department of Radiology and Bio-medical Imaging, there is a growing adoption of prostatic artery embolization procedures among physicians in the U.S. due to the procedure’s less invasive nature compared to traditional surgical procedures. These factors are expected to support global prostatic artery embolization market growth during the forecast period.
Global Prostatic Artery Embolization Market- Restraints
Prostatic artery embolization procedure is accompanied with ‘Post-PAE Syndrome’ in patients. In Post-PAE syndrome, patients may experience nausea, pelvic pain, and frequent urination which may refrain them from opting for this treatment option. Moreover, according to U.S National Library of Medicine, prostatic artery embolization procedures involves use of ionization radiation with dose range of approximately 47 mSv, which is roughly equivalent to increase lifetime cancer risk in patient population with average age of 65 in men. These factors are expected to restrain the global prostatic artery embolization market.
Global Prostatic Artery Embolization Market- Regional Analysis
On the basis of regions, the global prostatic artery embolization market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The North America Prostatic artery embolization market is expected to exhibit significant growth due pharmaceutical medical device companies focusing on new product development in global prostatic artery embolization market. For instance, in 2017 Merit Medical Systems Inc. received an approval for its Merit’s Embosphere from the Food Drug Administration (FDA) for Prostatic artery embolization, a non-surgical treatment for men who suffer from Benign Prostate Hyperplasia (BPH).
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Moreover, the Europe Prostatic artery embolization market is expected to witness significant growth due to various actions taken by regulatory bodies across the region. In 2018, the United Kingdom National Institute of Health and Care Excellence, which provides guidance and advice related to health, stated that the prostatic artery embolization procedure is safe and provides clinically stable results in treatment of prostate enlargement due to Benign Prostate Hyperplasia (BPH).
Global Prostatic Artery Embolization Market- Competitive Landscape
Key operating players in the global prostatic artery embolization market are Mentice AB, Merit Medical Systems, Inc, Boston Scientific Corporation, Siemens Healthineers AG, GE Healthcare, Terumo Corporation, Embolx, Inc., and QXMedical, LLC.
In 2018, Embolx, Inc., a medical device company, announced CE certification for its next generation of sniper balloon occlusion micro-catheters for treatment of enlarged prostate and cancerous tumors.
In 2019, QX Medicals, a medical device company, acquired the rights of bioresorbable embolic technology developed by researchers at the University of Minnesota. This bioresorbable embolic technology is are used by interventional radiologist for prostatic artery embolization.
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