Interventional Oncology Market Size, Share & Industry Analysis, By Therapy (Radiation Therapy, Ablation Devices, Particle Embolization Devices), By Cancer Type (Liver Cancer, Kidney Cancer, Lung Cancer, Others), By End-user (Hospitals, Ambulatory surgical centers, Specialty clinics, Others) Others and Regional Forecast, 2023-2030

Interventional oncology procedures comprise of diagnostics and treatment of cancer with the use of minimally invasive procedures that are conducted under image guidance program. The interventional oncology process utilizes equipment such as x-ray, computed tomography, ultrasound, and magnetic imagining resonance for image guidance. Interventional oncology procedures are performed using accessories and instruments that include biopsy needles, guidewires, ablation electrodes, and intravascular catheters that allow the removal of the tumor of the body. Interventional oncology is used to treat metastatic and primary cancer such as liver, kidney, bone, breast cancer, and others.

Key Market Driver -

Growing liver, lung, and breast cancer rates to propel the market growth

Key Market Restraint -

High treatment cost for interventional oncology treatment

The rise in demand for the minimally invasive procedures leading to several benefits such as the minimal risk of infection, lesser complications, shorter stay in the hospitals and faster recovery as compared to invasive surgeries are the major factors driving the growth of the global interventional oncology market. Additionally, increasing prevalence of cancer, technological advancements, and new product launches are some of the factors driving the growth of the global interventional oncology market.

However, the high treatment cost associated with interventional oncology is likely to hinder the market growth during the forecast period.

Market segmentation:

The global interventional oncology market is segmented into therapy, cancer type, and end user. On the basis of therapy, the market is categorized into radiation therapy, ablation devices, and particle embolization devices. Based on cancer type, the global interventional oncology market is segmented into liver cancer, lung cancer, kidney cancer, and others. Various end users covered in the market are hospitals, ambulatory surgery centers, specialty clinics, and others.

Key Players Covered:

The major companies covered in the global interventional oncology market report include Boston Scientific Corporation, Smith & Nephew, C.R. Bard, Angio Dynamics, Health Tronics, Cook Medical, BOVIE MEDICAL, Profound Medical, MedWaves, TERUMO, Merit Medical Systems, Perseon, ALPINION MEDICAL SYSTEMS, Varian Medical, and Baylis Medical and others.

Key Insights:

• Prevalence of cancer- For key countries, 2018


• Technological advancements in the global interventional oncology market


• Reimbursement scenario


• Regulatory scenario


• Key Mergers & acquisitions

Regional Analysis:

Geographically, the interventional oncology market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among the region, North America accounted for the highest share in the global interventional oncology market in 2017. Increasing mergers and acquisitions and research collaboration between manufacturers and universities in the North America region to develop new products are key factors for the estimate high share of this region. In 2015, Boston Scientific acquired Celo Nova Biosciences spherical involved in the development of Embozene and Oncozene microspheres.

To gain extensive insights into the market, Request for Customization

Europe is anticipated to grow at a significant CAGR owing to high prevalence of cancer in the region. According to the survey conducted by World Health Organization (WHO), in 2016, more than 753,600 people were diagnosed with cancer. Furthermore, technological advancement and high investment in healthcare infrastructure in the region is expected to boost the interventional oncology market in Europe. Asia Pacific is anticipated to register a higher CAGR during the forecast period owing to high growth opportunities for the market players in countries like India, China, South Korea, and others.

Segmentation

Interventional Oncology Industry Developments

• In April 2018, Medtronic plc announced the launch of OPTISPHERE embolization spheres for embolization of hypervascular tumors.


• In 2017, Terumo Corporation launched QUIREM SPHERES microspheres. These are used to treat solid liver tumours, which cannot be removed by surgery completely.