New York, Global Interventional Oncology Market was valued at USD 1.9 billion in 2031 and it is anticipated to grow further to USD 4.4 billion by 2031, at a CAGR of 8.8% during the forecast period.
The global interventional oncology market report from Global Insight Services is the single authoritative source of intelligence on Interventional Oncology Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Interventional oncology procedures include cancer detection and therapy using minimally invasive techniques carried out with the use of images. For guidance, the procedure makes use of tools like x-ray, ultrasound, computed tomography, or magnetic resonance imaging. With the aid of image guidance during interventional oncology operations, cancer is targeted and eliminated.
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Market Trends and Drivers
Due to the benefits these procedures offer over conventional treatment methods, the demand for minimally invasive procedures has significantly increased in recent years. Fewer postoperative complications, a shorter hospital stay, less pain, smaller and more cosmetic incisions, a lower risk of infection, less post-operative care, and a speedier recovery time are the main benefits of minimally invasive procedures. Modern technology is used in minimally invasive procedures to identify and treat diseases like cancer. These techniques are utilized as an efficient way to remove cancerous lymph nodes and tumors without leaving scars. The collection of tissues for biopsies and precise staging tests are both made possible by minimally invasive surgical methods. In turn, this aids surgeons in developing a precise and appropriate cancer treatment strategy.
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Global Interventional Oncology Market Segmental Overview
The report analyses the global interventional oncology market based on the product, procedure, cancer type, end user, and region.
Global Interventional Oncology Market by Product
Based on the product, it is segmented into embolization devices, ablation devices, and support devices. The embolization devices segment is anticipated to dominate the market during the forecast period. Although these tools are largely used to treat hepatocellular carcinoma, their use to numerous other cancer types has been greatly expanded. When ablation procedures cannot be utilized to treat a tumor or when the tumor is big, these devices are used. In order to enhance the results of liver resection, they are frequently employed in palliative treatments and as a pre-operative therapy.
Global Interventional Oncology Market by Procedure
Based on the procedure, it is segmented into thermal tumor ablation, non-thermal tumor ablation, transcatheter arterial chemoembolization, transcatheter arterial radioembolization, and transcatheter arterial embolization. The thermal tumor ablation segment is anticipated to dominate the market during the forecast period. Together with medical, surgical, and radiation oncology, interventional oncology has emerged as a cornerstone of cancer treatment. The interventional oncology program uses image guidance to guide targeted, minimally invasive operations that are used to diagnose, treat, and/or relieve cancer symptoms.
Global Interventional Oncology Market by Cancer Type
Based on the type, it is segmented into liver cancer, lung cancer, bone metastasis, kidney cancer, breast cancer, prostate cancer, and other cancers. The liver cancer segment accounted for the largest share of the interventional oncology market. Since surgically removing the tumor may not leave the surrounding tissue healthy enough for the liver to function properly, interventional oncology is essential in the treatment of liver cancer. Therefore, interventional oncology treatments can be used to effectively treat primary liver tumors as well as liver tumors brought on by metastatic cancers. Because of this, interventional oncology is used in more than half of all therapies for both primary and metastatic liver cancer.
Global Interventional Oncology Market by End User
Based on the end user, it is segmented into hospitals, ambulatory surgery centers, and research & academic institutes. The hospitals & diagnostics centers segment accounted for the largest share of the interventional oncology market. There is a constant need for hospital-based care since there are modern facilities for treating illnesses and injuries and skilled staff available. Another important factor influencing market growth is the fact that hospitals see a lot more patients than other healthcare facilities. A wide variety of surgical operations are regularly carried out in hospitals, and the majority of these surgeries are done while the patient is an inpatient. The adoption of robotic surgery as well as the rise in the use of electrosurgery and minimally invasive surgeries in hospitals are principally responsible for this segment’s growth.
Geographical Analysis of the Global Interventional Oncology Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific region is anticipated to dominate the market during the forecast period. The major factors influencing the growth of the APAC interventional oncology market are government initiatives to increase funding, supportive regulations for the development and commercialization of advanced interventional oncology products, rising healthcare expenditure, expanding hospitals and clinics in China and India, expanding research bases across China, Japan, and India, and rising surgical incidence.
Major Players in the Global Interventional Oncology Market
The key players studied in the report are Medtronic (Ireland), Boston Scientific (US), BD (US), Terumo (Japan), Merit Medical (US), AngioDynamics (US), J&J (US), Teleflex (US), Cook Medical (US), HealthTronics (US), MedWaves (US), Sanarus (US), IMBiotechnologies (Canada), Trod Medical (US), and IceCure Medical (Israel) among others.
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