Global Absorbable Tissue Spacer Market Size

Absorbable Tissue Spacer Market Analysis

The Global Absorbable Tissue Spacer Market size is estimated at USD 254.36 million in 2024, and is expected to reach USD 725.76 million by 2029, growing at a CAGR of 16.79% during the forecast period (2024-2029).

The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks. Due to the fragility and immunosuppression, oncologic patients were reported to be at higher risk of COVID-19 complications and deaths. Hence, government initiatives were taken to overcome the complications. For instance, according to an article published by SAGE Publications, in December 2021, during the COVID-19 pandemic, the Regional Health Council converted selected hospitals for cancer care in oncologic hubs to create COVID-19-free zones and guarantee the continuation of cancer treatments safely. The European Institute of Oncology (IEO) IRCSS (Milan, Italy) was one of those. Therefore, even though the COVID-19 pandemic significantly impacted market growth in the initial phases, cancer treatments resumed following government initiatives, which significantly impacted the absorbable tissue spacer market. Additionally, as the COVID-19 cases started to decline, the market has returned to the normal levels of demand for radiotherapy and is anticipated to show significant growth over the forecast period.

Certain factors that are driving the market growth include the increasing prevalence of cancer and the advantages associated with tissue spacers. The growing number of people suffering from various cancers is the key driving factor for the growth of the market. For instance, as per the data published by the American Cancer Society in January 2023, around 1,958,310 people were expected to be diagnosed with new cancer cases in the United States in 2023. Thus, the increasing prevalence of cancer is likely to create a great demand for diagnosis and treatment. Additionally, in January 2023, the Australian Government mentioned that an estimated 20,640 new cases of breast cancer were diagnosed in 2022. Thus, the huge burden of cancers among the population is expected to increase the demand for absorbable tissue spacers to provide adequate protection and to produce a strong protective barrier during radiotherapy, thereby boosting market growth.

Various initiatives taken by the key market players, such as product launches, expansion, and partnerships, are expected to boost the market's growth during the forecast period. For instance, in February 2022, Palette Life Sciences commercialized Palette's portfolio of medical products. It expanded its Japanese offering, actively pursuing regulatory clearance for its Barrigel and Solesta brands. Such developments are expected to drive the growth of the market over the forecast period.

However, the high cost and lack of skilled professionals are some of the factors that are impeding the market growth over the forecast period.