Interventional Oncology Market

Interventional Oncology Market

Growth Factors of Interventional Oncology Market

The interventional oncology market size was valued at USD 2.02 billion in 2023, and the market is now projected to grow from USD 2.18 billion in 2024 to USD 4.04 billion by 2032, exhibiting a CAGR of 8% during the forecast period of 2024-2032.

Pandemic slowed the global interventional oncology marketplace's boom. Government-imposed lockdown limitations led to cancelation or postpone of most cancers remedies, resulting in fewer affected person visits to hospitals and clinics, inflicting a fall in marketplace increase. As a result, interventional oncology became much less famous with patients global.

The oncology affected person population is increasing due to the developing prevalence of cancers like liver, lung, and breast. The male populace is greater affected than the female population. In 2020, there were 20 million new cancer instances and 9.7 million deaths. This fashion, coupled with market players awareness on developing new most cancers remedies, is predicted to enhance interventional oncology call for and adoption inside the destiny.

Radioembolization, a minimally invasive remedy for oncology, has visible tremendous adoption in latest years. This minimally invasive process involves the transport of radioactive microspheres without delay into tumor-feeding blood vessels. Initially evolved for liver most cancers, it is now being explored for colorectal and neuroendocrine cancers. A examine by the Radiological Society of North America located a 15-month patient survival after transarterial radioembolization for metastatic colorectal cancer. Market players also are that specialize in imaging generation improvements and growing greater unique microspheres to enhance safety and effectiveness.

Comprehensive Analysis of Interventional Oncology Market

The market is divided into radiation remedy, ablation, and embolization devices. The ablation devices section is similarly subdivided into microwave ablation, radiofrequency ablation, cryoablation, and microcatheters. The radiation therapy devices phase is predicted to develop substantially due to the growing number of hospitalizations and cancer prevalence. The embolization gadgets section is anticipated to develop at the highest CAGR due to the benefits of precise tumor control and minimal harm to wholesome tissues. The cancer segment is segmented into lung cancer, liver most cancers, kidney most cancers, and others. The liver most cancers phase is expected to develop appreciably because of the rising adoption of embolization gadgets and the growing choice for minimally invasive techniques in healthcare facilities. The kidney most cancers section is expected to grow at the best CAGR because of the increasing prevalence of kidney cancers globally and the growing attention of market gamers on developing superior liver cancer treatments using interventional gadgets. The stop-consumer segment is segmented into hospitals and forte clinics.

The North America region lead the interventional oncology market share by benefitting a market size of USD 0.86 billion in 2023 due to the increasing adoption of embolization devices and minimally invasive oncology treatments. Factors including the growing most cancers patient population, multiplied hospital admissions, and strong presence of key marketplace gamers also are predicted to reinforce interventional oncology market growth.

In 2023, the market for interventional oncology turned into ruled through key game enthusiasts like Siemens Healthineers, Boston Scientific Corporation, and Terumo Corporation. Boston Scientific Corporation's assorted product portfolio and higher abilties in studies, development, production, and advertising contributed to its dominance. Merit Medical Systems and BD also held sizable market share because of their presence inside the U.S. And Europe. Strategic tasks like product portfolio growth and new product launches are predicted to growth their market stocks in the long run.

Delcath Systems, Inc. has launched HEPZATO KIT, a combination drug/device product, for the first time in treating metastatic uveal melanoma (mlJM), offering higher drug exposure and reducing systemic toxicity.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Unit Value (USD billion)

Growth Rate CAGR of 8% from 2024-2032

Segmentation By Type

• Radiation Therapy Devices
• Ablation Devices
• Microwave ablation
• Radiofrequency ablation
• Cryoablation
• Others
• Embolization Devices
• Microcatheters
• Guidewires

By Cancer Type

• Lung Cancer
• Liver Cancer
• Kidney Cancer
• Others

By End-User

• Hospitals
• Specialty Clinics
• Others

By Geography

• North America (By Type, Cancer Type, End-user, and Country)
• U.S. (By Cancer Type)
• Canada (By Cancer Type)
• Europe (By Type, Cancer Type, End-user, and Country/Sub-region)
• U.K. (By Cancer Type)
• Germany (By Cancer Type)
• France (By Cancer Type)
• Spain (By Cancer Type)
• Italy (By Cancer Type)
• Rest of Europe (By Cancer Type)
• Asia Pacific (By Type, Cancer Type, End-user, and Country/Sub-region)
• Japan (By Cancer Type)
• China (By Cancer Type)
• India (By Cancer Type)
• Australia (By Cancer Type)
• Rest of Asia Pacific (By Cancer Type)
• Rest of the World (By Type, Cancer Type, and End-user)

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