Overview and Scope
Interventional oncology devices are used in the diagnosis and treatment of cancer using minimally invasive techniques and advanced imaging technology.
Sizing and Forecast
The interventional oncology devices market size has grown strongly in recent years. It will grow from $2.35 billion in 2023 to $2.5 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to aging population pool, an increase in cancer prevalence, increase in pharmaceutical r&d expenditure, increased healthcare expenditure and growth in the number of healthcare facilities.
The interventional oncology devices market size is expected to see strong growth in the next few years. It will grow to $3.25 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing older population, increasing preference towards minimally invasive surgeries (mis), increasing research and development spending, a rise in healthcare expenditure, high potential in emerging economies and increasing prevalence of cancer and chronic diseases. Major trends in the forecast period include focusing on developing advanced image-guided oncology devices, utilizing ai to develop innovative devices, developing new, innovative embolic devices to enable improved oncology procedures, focusing on using robotics technology and collaborating with other companies and research institutes to accelerate product development and innovation.
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Segmentation & Regional Insights
The interventional oncology devices market covered in this report is segmented –
1) By Product: Embolization Devices, Ablation Devices, Support Devices
2) By procedure: Thermal Tumor Ablation, Non-Thermal Tumor Ablation, Transcatheter Arterial Chemoembolization (TACE), Transcatheter Arterial Radioembolization (TARE), Selective Internal Radiation Therapy (SIRT), Transcatheter Arterial Embolization (TAE), Bland Embolization
3) By Cancer Type: Liver Cancer, Kidney Cancer, Lung Cancer, Bone Cancer, Other Cancer Types
North America was the largest region in the interventional oncology devices market in 2023. Asia-Pacific was the second largest region in the global interventional oncology devices market report. The regions covered in the interventional oncology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The availability of private and government funding drove the interventional oncology devices market. In the field of cancer, funding from the government and private has increased, especially for the devices used in treatments as it promotes early detection and better survival rates. The American Cancer Society, the largest non-government, not-for-profit cancer research funder, has awarded 630 projects with a grant amount of $384,262,652 in 2021. BioProtect Ltd., an Israeli company that develops novel bioabsorbable polymer spacer balloons, received a funding of $13 million of its Series D equity financing from a leading global syndicate of venture investors that finances the ongoing multicenter FDA clinical trial of BioProtect’s lead product, the ProSpace balloon spacer, which protects prostate cancer patients undergoing radiation therapy. Endosight, the first augmented-reality-guided ablative system, has received 20% of its funding from private organizations. The funding from government and private organizations helps in the development of new technologies and devices, thereby driving the interventional oncology devices market.
Key Industry Players
Major companies operating in the interventional oncology devices market report are Boston Scientific Corporation, Terumo Corporation, Siemens Healthineers, Sirtex Medical Limited, Merit Medical Systems, Inc., Merck & Co. Inc., CVS Health, Henlius, Viant Medical, AngioDynamics Inc., Pfizer, Steris Applied Sterilization Technologies, CoDr.Reddys, International SOS, CapeRay, Innovent Biologics, Novartis AG, Consonance, ABLbio, Adimmune, Heraeus Medical, Bioavlee, Mediceena International, Sinapi biomedical, Olympus, Freudenberg Medical, Hisun Pharma, Beijing ShuangLu Pharmaceuticals, Edwards LifeSciences Corp, Gulf Dent Trading, LifeTech Scientific Corporation, Biomerics, Medtronic plc, Dickinson & Company, 3M Company, DISA Vascular, Johnson & Johnson, Eurolab, Koninklijke Philips, Quantum SurgicalKyowa Hakko Kirin, Viatris, Nipro, Zimmer Biomet Holdings, Profound Medical, Gedeon Richter, Baxter, Ti-TaMED, Abbott Laboratories, Cook Medical LLC, Adavium Medical, Autocam Medical, Bio-Thera, Stryker, GE Healthcare, Sonic Healthcare, Medicem, HealthTronics, Bayer AG, Intuitive Surgical Inc, Aster DM Healthcare, Danaher Corporation, Varian Medical Systems Inc., Smileneo, EDAP TMS S.A, Fresenius Medical Care AG, China Regenerative Medicine International
The interventional oncology devices market report table of contents includes:
1. Executive Summary
2. Interventional Oncology Devices Market Characteristics
3. Interventional Oncology Devices Market Trends And Strategies
4. Interventional Oncology Devices Market – Macro Economic Scenario
5. Global Interventional Oncology Devices Market Size and Growth
……………..
32. Global Interventional Oncology Devices Market Competitive Benchmarking
33. Global Interventional Oncology Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Interventional Oncology Devices Market
35. Interventional Oncology Devices Market Future Outlook and Potential Analysis
36. Appendix
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