Interventional Oncology Devices Global Market By Product Type, By Procedure, By Cancer Type, Opportunity Analysis and Forecast, 2024-2033

The Interventional Oncology Devices 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 (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Interventional Oncology Devices, 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.

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.

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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

Major companies are focusing on deploying robotics technology in interventional oncology devices, for higher efficiency. The robotic system integrates image-based planning and navigation with the installation of different instruments to the desired body part with better accuracy and efficiency. For instance, in March 2022, the U.S. Food and Drug Administration approved Quantum Surgical’s Epione interventional oncology robotics platform.

The interventional oncology devices market report table of contents includes:
1. Executive Summary