8 Medical Device Trends and Outlook for 2024

The Oncology Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Oncology Devices Global Market Report 2024, The oncology devices market size has grown rapidly in recent years. It will grow from $128.46 billion in 2023 to $153.93 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%.  The growth in the historic period can be attributed to rising prevalence of cancer, growing aging population, increasing demand for personalized cancer treatments, genomic profiling.

The oncology devices market size is expected to see rapid growth in the next few years. It will grow to $298.31 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%.  The growth in the forecast period can be attributed to minimally invasive surgical techniques, biodegradable implants, global expansion of healthcare, value-based care models, digital health integration. Major trends in the forecast period include advancements in radiation therapy, early detection technologies, advancements in oncology devices, liquid biopsies, ai-powered decision support.

A growing number of cancer cases across the globe is anticipated to boost the demand for the oncology devices market. Cancer is a major health problem across the globe and is the second leading cause of death in the USA. The increasing incidence of cancer is contributing to the surge in demand for oncology devices to treat cancer patients. The four most common types of cancer globally are prostate, lung, bowel, and female breast cancer, accounting for 43% of all new cancer cases. According to the American Cancer Society, there were 1.9 million new cases and 608,570 cancer deaths in 2021 in the USA. Therefore, the rise in cancer incidence is anticipated to boost the demand for the oncology drugs market.

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The oncology devices market covered in this report is segmented –

1) By Device Type: Brachytherapy Devices; Endoscopic Devices

2) By Therapy: Chemotherapy; Hormone Therapy; Biotherapy/Immunotherapy; Radition Therapy

3) By End User: Hospitals; Cancer Research Institutes; Other End Users

The oncology devices market report table of contents includes:

 

1. Executive Summary
2. Oncology Devices Market Characteristics
3. Oncology Devices Market Trends And Strategies
4. Oncology Devices Market – Macro Economic Scenario
5. Global Oncology Devices Market Size and Growth

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31. Global Oncology Devices Market Competitive Benchmarking
32. Global Oncology Devices Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Oncology Devices Market
34. Oncology Devices Market Future Outlook and Potential Analysis
35. Appendix

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