Global Interventional Oncology Market Size To Exceed USD 5.93 Billion By 2033 | CAGR Of 8.98%
Category: HealthcareGlobal Interventional Oncology Market Size To Exceed USD 5.93 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Interventional Oncology Market Size is Expected to Grow from USD 2.51 Billion in 2023 to USD 5.93 Billion by 2033, at a CAGR of 8.98% during the forecast period 2023-2033.
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Browse key industry insights spread across 190 pages with 90 Market data tables and figures & charts from the report on the"Global Interventional Oncology Market Size, Share, and COVID-19 Impact Analysis, By Type (Radiation Therapy Devices, Ablation Devices, and Embolization Devices), By Cancer Type (Lung Cancer, Liver Cancer, Kidney Cancer, Others), By End User (Hospitals, Specialty Clinics and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/interventional-oncology-market
The interventional oncology market is a subspecialty of interventional radiology that deals with minimally invasive, image-guided treatments for the diagnosis, treatment, and palliation of cancer. Moreover, the rising incidence of cancer, particularly liver, lung, kidney, and bone cancers, is a key driver for the interventional oncology market. This increasing burden generates a strong need for more efficient, localized, and less invasive treatment options such as interventional oncology procedures. Both patients and medical professionals are increasingly moving towards minimally invasive procedures because of their benefits, shorter hospital stays, quicker recovery, fewer complications, and lower costs. Interventional oncology perfectly meets this need by providing accurate, image-guided treatments like ablation and embolization, making it a sought-after alternative to traditional surgery and systemic chemotherapy. However, the success of interventional oncology procedures is largely dependent on the skills of specialized experts like interventional radiologists, oncologists, and surgical teams. The scarcity of trained experts, especially in underserved or rural communities, limits the extensive use of these treatments. This shortage would constrain market growth and expansion.
The embolization devices segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the interventional oncology market is divided into radiation therapy devices, ablation devices, and embolization devices. Among these, the embolization devices segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is due to embolization and is commonly applied to liver cancer, it is also being more and more applied to other cancer types, including kidney cancer, lung cancer, and endometrial cancer. This expands its clinical use and further propels the demand for embolization devices.
The liver cancer segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the cancer type, the interventional oncology market is divided into lung cancer, liver cancer, kidney cancer, and others. Among these, the liver cancer segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is attributed to liver cancer, most commonly hepatocellular carcinoma (HCC), which ranks among the world's most frequent and deadly malignancies. Its increasing prevalence, especially in parts of the world with high infection rates of hepatitis and liver cirrhosis, plays an enormous role in demanding interventional oncology interventions.
The hospitals segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the end user, the interventional oncology market is divided into hospitals, specialty clinics and others. Among these, the hospitals segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is driven by hospitals provide comprehensive cancer care with access to multidisciplinary teams that include interventional radiologists, oncologists, and surgeons. They are best positioned for the delivery of complicated interventional oncology procedures such as ablations and embolizations.
North America is expected to hold the majority share of the global interventional oncology market during the forecast period.
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North America is expected to hold the majority share of the global interventional oncology market during the forecast period. North America, and specifically the U.S., has a high prevalence of many cancers. This creates significant demand for novel, targeted treatment modalities such as interventional oncology, which offers effective, minimally invasive alternatives to conventional cancer therapy.
Asia Pacific is anticipated to grow at the fastest pace in the global interventional oncology market during the forecast period. India, Thailand, and Malaysia, among other countries, provide quality cancer care at a lower price, drawing foreign patients. This increase in medical tourism increases investment in interventional oncology and increases the global market presence of the region.
Major vendors in the global interventional oncology market are Medtronic plc, Boston Scientific Corporation, Johnson & Johnson (Ethicon), Teleflex Incorporated, Cook Medical, AngioDynamics Inc., Stryker Corporation, Profound Medical, Terumo Corporation, Siemens Healthineers, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In December 2024, Angiodynamics was granted FDA 510(k) clearance for its NanoKnife System to ablate prostate tissue. It is a non-thermal, radiation-free therapy that provides a minimally invasive treatment approach for patients with prostate cancer.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the interventional oncology market based on the below-mentioned segments:
Global Interventional Oncology Market, By Type
- Radiation Therapy Devices
- Ablation Devices
- Embolization Devices
Global Interventional Oncology Market, By Cancer Type
- Lung Cancer
- Liver Cancer
- Kidney Cancer
- Others
Global Interventional Oncology Market, By End User
- Hospitals
- Specialty Clinics
- Others
Global Interventional Oncology Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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