Chat with us, powered by LiveChat

Loading...

Interventional Oncology Market Report

RA01567

Interventional Oncology Market by Product Type (Embolization Devices, Ablation Devices, and Support Devices), Caner Type (Liver Cancer, Lung Cancer, Bone Metastasis, Kidney Cancer, Breast Cancer, Prostate Cancer, and Other Cancers), End-user (Hospitals, Ambulatory Surgery Centers, and Research & Academic Institutes), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA01567

Pages: 170

Jan 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Interventional Oncology Market

Global Interventional Oncology Market Analysis

According to the global interventional oncology market forecast, the market size is expected to reach up to $3,313.5 million by 2028, surging from $1,982.6 million in 2020, at a noteworthy CAGR of 6.7%.

Market Synopsis

Increasing rate of cancer cases worldwide to upsurge the global interventional oncology market growth.

However, lower product penetration of interventional oncology in the middle or low-income countries, may restrict the market growth.

According to the regional analysis of the interventional oncology market, the Asia- Pacific market is expected to surge at a CAGR of 8.2%, by registering a revenue of $689.2 million, throughout the analysis period.

Interventional Oncology Overview

Interventional oncology (IO) is the emerging subspecialty that mainly utilizes image-guided procedures (diagnostics/surgeries) in order to improve cancer care. Along with surgical, medical, and radiation, now IO can be considered the 4th pillar of modern oncology care. IO is primarily emphasized on 3 prominent areas of cancer intervention namely therapy, diagnosis, and symptom palliation.

COVID-19 Impact on Interventional Oncology Market

The corona virus pandemic has had significantly disrupted the growth of the industries worldwide, creating a mass disturbance for sellers as well as buyers. Moreover, the pandemic of COVID-19 has deeply impacted the activity of IO in cancer centers and hospitals. In majority of the nations, clinic centers and hospitals have turned their operating theater to intensive care units (ICU) and mobilized oncologist to fight against coronavirus. Such elements have negatively affected the global interventional oncology market.

However, in November 2021, Quantum Surgical, France based innovative healthcare company, announced to exhibit an advanced robotic-assisted technology, Epione, at the Radiological Society of North America’s (RSNA) 2021. Epione is a new category of interventional oncology robotics that allows surgeons to plan, target, deliver, and confirm tumor ablation. Such inventions are further projected to create enormous opportunities, in the global interventional oncology market, post coronavirus outbreak.

Increasing Incidence of Cancer to Upsurge the Market Growth

Cancer is the 2nd leading cause of death worldwide and was responsible for almost 9.6 million deaths in 2018. Around 70% of deaths were reported from cancer in low- and middle-income economies. As per data published by the International Agency for Research on Cancer, intergovernmental agency forming part of the World Health Organization of the United Nations, in 2018, there were 17.0 million new cancer cases worldwide. By 2040, the global burden is predicted to increase to 27.5 million new cancer cases and 16.3 million cancer deaths mainly owing to the aging population across the globe. Inaccessible treatment options and late-stage diagnosis are the main elements responsible for growing mortality from cancerous diseases globally. All these facts and figures showcase that the demand for effective cancer care options is expected to rise, which may ultimately surge the global interventional oncology market.

To know more about global interventional oncology market drivers, get in touch with our analysts here.

Lower Product Penetration in the Low-income Regions to Restrain the Market Growth

However, lack of information regarding the interventional oncology across the middle or low-income countries may restrain the market growth of global interventional oncology market, throughout the projected period. Further, high cost of interventional oncology devices may also negatively impact the interventional oncology market, in the coming years.

Significant Expansion of Healthcare Establishments across the Asia-Pacific Region to Create Investment Opportunities

Asian countries such as India, Japan, China, and Singapore have experienced notable expansion of hospitals & healthcare equipment manufacturers in the recent several years. Furthermore, the extensively increasing awareness among the Asian consumers regarding enhancing the cancer care has also increased. In addition to this, burden of various chronic cancerous conditions along with geriatric population is increasing in the APAC region. Thereby, the adoption and constant growth of interventional oncology in this region have increased, which can create the market opportunities for global interventional oncology industry, in the forecast period.

To know more about global interventional oncology market opportunities, get in touch with our analysts here.

Interventional Oncology Market
By Product

Your browser does not support the canvas element.

Based on product type, the market has been divided into Embolization Devices, ablation devices, and support devices sub-segments of which the Embolization Devices sub-segment is anticipated to experience the fastest growth, throughout the analysis period. Download PDF Sample Report

Source: Research Dive Analysis

The embolization devices sub-segment is expected to have the dominating share and lucrative growth in the global market and register a revenue of $2,165.6 million by 2028.
Embolization devices mainly comprised of radio embolic agents and non-radioactive embolic agents. These devices play crucial role in the treatment of hepatocellular carcinoma, and various other forms of cancer in which the tumor size is large. Moreover, embolization devices are also utilized in palliative procedures in order to enhance the outcome of liver resection. All these factors are expected to augment the growth of embolization sub-segment, in the analysis period.

Interventional Oncology Market
By Cancer Type

Your browser does not support the canvas element.

Based on cancer type, the market has been divided into Liver Cancer, lung cancer, bone metastasis, kidney cancer, breast cancer, prostate cancer, and other cancers sub-segments of which the Liver Cancer sub-segment is anticipated to have maximum share, throughout the analysis period.

Source: Research Dive Analysis

The liver cancer sub-segment is expected to have the dominating share in the global market and register a revenue of $1,027.6 million by 2028.
Interventional oncology has important part in treating liver tumor with keeping healthy liver for effective functioning. Thus, primary liver tumors caused by metastatic cancer can be successfully treated by advanced interventional oncology surgeries. In addition to this, growing cases of liver cancer worldwide along with rising research/development activities utilizing interventional oncology in order to enhance liver cancer therapies are some of the elements bolstering the liver sub-segment’s growth.

Interventional Oncology Market
By End User

Your browser does not support the canvas element.

Based on end-user, the market has been categorized into Hospitals, ambulatory surgery centers, and research & academic institutes. Out of these, the Hospitals sub-segment is anticipated to garner the maximum revenue in the global market, throughout the analysis period.

Source: Research Dive Analysis

The hospitals sub-segment of the global interventional oncology market holds prominent share and is estimated to grow at the most notable CAGR and surpass $2,278.4 million by 2028, with a rise from $1,368.3 million in 2020.
Massive increase in the prevalence of cancer worldwide, increase in awareness about advanced oncological therapies in developing region, and noticeable R&D funding are some of the driving elements fueling the sub-segments growth. Along with this, enhancement of healthcare infrastructure and surged adoption of innovative interventional oncology devices such as embolization and ablation devices in the hospitals may create enormous opportunities for the hospital sub-segment, in the coming years.

Global Interventional Oncology Market, Regional Insights:

The interventional oncology market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Interventional Oncology Market, Regional Insights

Source: Research Dive Analysis

The Market for Interventional Oncology in Asia-Pacific to be the Most Lucrative

Asia-Pacific interventional oncology market accounted $368.8 million in 2020 and is projected to generate a revenue of $689.2 million by 2028.
The massive support from the government authorities to fortify effective innovative cancer diagnostics and treatment in Asian countries, is one of the major reasons driving interventional oncology market, in the APAC region. Also, Asia-Pacific region is backed by huge population base in countries, namely China and India, where enormous improvements in healthcare infrastructure is taking place. Moreover, the increasing awareness programs initiated by government as well as non-governmental bodies are contributing to the growth of the interventional oncology market in Asia-pacific region.

The Market for Interventional Oncology in North America to be the Most Dominant

Interventional oncology market for North America region is highly competitive and leading companies in the market are adopting multiple strategies to garner maximum North America interventional oncology market share. North America interventional oncology market accounted $874.3 million in 2020 and is expected to register a revenue of $1,434.7 million by 2028.
Furthermore, increase in the geriatric population along with growing cancer prevalence & incidence is creating positive impact on the North America interventional oncology market. In addition to this, key elements like rising cancer related healthcare expenditure and growing need for state-of-the-art cancer care options are surging the adoption of interventional oncology in the US and Canada.

Competitive Scenario in the Global Interventional Oncology Market

Treatment type launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Interventional Oncology Market

Source: Research Dive Analysis

Some of the leading interventional oncology market players are Medtronic, Boston Scientific, BD, Terumo, Merit Medical, AngioDynamics, J&J, Teleflex, Cook Medical, and HealthTronics.

Porter’s Five Forces Analysis for the Global Interventional Oncology Market:

  • Bargaining Power of Suppliers: The suppliers operating in the global interventional oncology market are high in number and are much larger and more globalized. So, there will be less threat from the supplier.
    Thus, the bargaining power of the suppliers is low.    
  • Bargaining Power of Buyers: Buyers demand effective interventional oncology at lower cost. This has increased the pressure on the interventional oncology manufacturers to offer the interventional oncology devices in a cost-effective way. Thus, many suppliers have started offering best yet cost–effective interventional oncology devices. This gives the buyers the option to freely choose interventional oncology device that best fits their preference.
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: The companies entering the global interventional oncology market are adopting technological innovations to attract customers. Also, these companies are implementing various effective strategies and there is government support in some countries.
    Thus, threat of the new entrants is high.
  • Threat of Substitutes: There is no alternative equipment available. 
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among the industry leaders is rather intense, especially between the global players including Medtronic, Boston Scientific, and BD. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
    Therefore, the competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product Type

  • Embolization Devices
  • Ablation Devices
  • Support Devices

  Segmentation by Cancer Type

  • Liver Cancer
  • Lung Cancer
  • Bone Metastasis
  • Kidney Cancer
  • Breast Cancer
  • Prostate Cancer
  • Other Cancers

  Segmentation by End-user

  • Hospitals
  • Ambulatory Surgery Centers
  • Research & Academic Institutes

  Key Countries Covered

 U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Brazil, Saudi Arabia, United Arab Emirates, Rest of LAMEA

  Key Companies Profiled

  • Medtronic
  • Boston Scientific
  • BD
  • Terumo
  • Merit Medical
  • AngioDynamics
  • J&J
  • Teleflex
  • Cook Medical
  • HealthTronics

Frequently Asked Questions
 

A. The global interventional oncology market size was over $1,982.6 million in 2020 and is projected to reach $3,313.5 million by 2028.

A. Cook Medical and HealthTronics are some of the key players in the global interventional oncology Market.

A. The Asia-Pacific region possesses great investment opportunities for the investors to witness the most promising growth in the future.

A. Asia-Pacific interventional oncology market is anticipated to grow at 8.2% CAGR during the forecast period.

A. Capacity expansion, treatment type development, along with joint ventures are the key strategies opted by the operating companies in this market.

A. Merit Medical and AngioDynamics are investing more on R&D activities for developing new treatment types and technologies.

A. Interventional oncologist addresses the diagnosis and treatment of cancer by using minimally invasive surgeries performed with image guidance.

A. Yes. Interventional radiology can be used for the cancer treatment.

A. Yes. Oncology is same as chemotherapy.

A. Radiation oncologists treat cancers through the medical use of ionizing radiation while in interventional radiology, trained surgeons use minimally invasive procedures to diagnose and treat cancer.

A. Interventional oncologist are fellowship trained and board-certified physicians who specialize in targeted and minimally invasive treatment. Interventional oncologist should be graduated from the medical college, pass a licensing exam, and complete at-least 5 years of graduate medical education.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By product trends
2.3.By cancer type trends
2.4.By end user trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers

3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.by product type
3.8.2.by end user

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors

3.10.Strategic overview

4.Interventional Oncology Market, by Product

4.1.Embolization Devices

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Ablation Devices

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028

4.3.Support Devices

4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028

5.Interventional Oncology Market, by Cancer Type

5.1.Liver Cancer

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Lung Cancer

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

5.3.Bone Metastasis

5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028

5.4.Kidney Cancer

5.4.1.Market size and forecast, by region, 2020-2028
5.4.2.Comparative market share analysis, 2020 & 2028

5.5.Breast Cancer

5.5.1.Market size and forecast, by region, 2020-2028
5.5.2.Comparative market share analysis, 2020 & 2028

5.6.Prostate Cancer

5.6.1.Market size and forecast, by region, 2020-2028
5.6.2.Comparative market share analysis, 2020 & 2028

5.7.Other Cancer

5.7.1.Market size and forecast, by region, 2020-2028
5.7.2.Comparative market share analysis, 2020 & 2028

6.Interventional Oncology Market, by End User

6.1.Hospitals

6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028

6.2.Ambulatory Surgery Centers

6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028

6.3.Research & Academic Institutes

6.3.1.Market size and forecast, by region, 2020-2028
6.3.2.Market size and forecast, by region, 2020-2028

7.Interventional oncology Market, by Region

7.1.North America

7.1.1.Market size and forecast, by product, 2020-2028
7.1.2.Market size and forecast, by cancer type, 2020-2028
7.1.3.Market size and forecast, by end user, 2020-2028
7.1.4.Market size and forecast, by country, 2020-2028
7.1.5.Comparative market share analysis, 2020 & 2028

7.1.6.U.S.

7.1.6.1.Market size and forecast, by product type, 2020-2028
7.1.6.2.Market size and forecast, by cancer type, 2020-2028
7.1.6.3.Market size and forecast, by end user, 2020-2028
7.1.6.4.Comparative market share analysis, 2020 & 2028

7.1.7.Canada

7.1.7.1.Market size and forecast, by product type, 2020-2028
7.1.7.2.Market size and forecast, by cancer type, 2020-2028
7.1.7.3.Market size and forecast, by end user, 2020-2028
7.1.7.4.Comparative market share analysis, 2020 & 2028

7.1.8.Mexico

7.1.8.1.Market size and forecast, by product type, 2020-2028
7.1.8.2.Market size and forecast, by cancer type, 2020-2028
7.1.8.3.Market size and forecast, by end user, 2020-2028
7.1.8.4.Comparative market share analysis, 2020 & 2028

7.2.Europe

7.2.1.Market size and forecast, by product type, 2020-2028
7.2.2.Market size and forecast, by cancer type, 2020-2028
7.2.3.Market size and forecast, by end user, 2020-2028
7.2.4.Market size and forecast, by country, 2020-2028
7.2.5.Comparative market share analysis, 2020 & 2028

7.2.6.Germany 

7.2.6.1.Market size and forecast, by product type, 2020-2028
7.2.6.2.Market size and forecast, by cancer type, 2020-2028
7.2.6.3.Market size and forecast, by end user, 2020-2028
7.2.6.4.Comparative market share analysis, 2020 & 2028

7.2.7.UK

7.2.7.1.Market size and forecast, by product type, 2020-2028
7.2.7.2.Market size and forecast, by cancer type, 2020-2028
7.2.7.3.Market size and forecast, by end user, 2020-2028
7.2.7.4.Comparative market share analysis, 2020 & 2028

7.2.8.France

7.2.8.1.Market size and forecast, by product type, 2020-2028
7.2.8.2.Market size and forecast, by cancer type, 2020-2028
7.2.8.3.Market size and forecast, by end user, 2020-2028
7.2.8.4.Comparative market share analysis, 2020 & 2028

7.2.9.Spain

7.2.9.1.Market size and forecast, by product type, 2020-2028
7.2.9.2.Market size and forecast, by cancer type, 2020-2028
7.2.9.3.Market size and forecast, by end user, 2020-2028
7.2.9.4.Comparative market share analysis, 2020 & 2028

7.2.10.Italy 

7.2.10.1.Market size and forecast, by product type, 2020-2028
7.2.10.2.Market size and forecast, by cancer type, 2020-2028
7.2.10.3.Market size and forecast, by end user, 2020-2028
7.2.10.4.Comparative market share analysis, 2020 & 2028

7.2.11.Rest of Europe

7.2.11.1.Market size and forecast, by product type, 2020-2028
7.2.11.2.Market size and forecast, by cancer type, 2020-2028
7.2.11.3.Market size and forecast, by end user, 2020-2028
7.2.11.4.Comparative market share analysis, 2020 & 2028

7.3.Asia Pacific

7.3.1.Market size and forecast, by product type, 2020-2028
7.3.2.Market size and forecast, by cancer type, 2020-2028
7.3.3.Market size and forecast, by end user, 2020-2028
7.3.4.Market size and forecast, by country, 2020-2028
7.3.5.Comparative market share analysis, 2020 & 2028

7.3.6.China

7.3.6.1.Market size and forecast, by product type, 2020-2028
7.3.6.2.Market size and forecast, by cancer type, 2020-2028
7.3.6.3.Market size and forecast, by end user, 2020-2028
7.3.6.4.Comparative market share analysis, 2020 & 2028

7.3.7.India 

7.3.7.1.Market size and forecast, by product type, 2020-2028
7.3.7.2.Market size and forecast, by cancer type, 2020-2028
7.3.7.3.Market size and forecast, by end user, 2020-2028
7.3.7.4.Comparative market share analysis, 2020 & 2028

7.3.8.Japan

7.3.8.1.Market size and forecast, by product type, 2020-2028
7.3.8.2.Market size and forecast, by cancer type, 2020-2028
7.3.8.3.Market size and forecast, by end user, 2020-2028
7.3.8.4.Comparative market share analysis, 2020 & 2028

7.3.9.South Korea

7.3.9.1.Market size and forecast, by product type, 2020-2028
7.3.9.2.Market size and forecast, by cancer type, 2020-2028
7.3.9.3.Market size and forecast, by end user, 2020-2028
7.3.9.4.Comparative market share analysis, 2020 & 2028

7.3.10.Australia

7.3.10.1.Market size and forecast, by product type, 2020-2028
7.3.10.2.Market size and forecast, by cancer type, 2020-2028
7.3.10.3.Market size and forecast, by end user, 2020-2028
7.3.10.4.Comparative market share analysis, 2020 & 2028

7.3.11.Rest of Asia Pacific

7.3.11.1.Market size and forecast, by product type, 2020-2028
7.3.11.2.Market size and forecast, by cancer type, 2020-2028
7.3.11.3.Market size and forecast, by end user, 2020-2028
7.3.11.4.Comparative market share analysis, 2020 & 2028

7.4.LAMEA

7.4.1.Market size and forecast, by product type, 2020-2028
7.4.2.Market size and forecast, by cancer type, 2020-2028
7.4.3.Market size and forecast, by end user, 2020-2028
7.4.4.Market size and forecast, by country, 2020-2028
7.4.5.Comparative market share analysis, 2020 & 2028

7.4.6.Latin America  

7.4.6.1.Market size and forecast, by product type, 2020-2028
7.4.6.2.Market size and forecast, by cancer type, 2020-2028
7.4.6.3.Market size and forecast, by end user, 2020-2028
7.4.6.4.Comparative market share analysis, 2020 & 2028

7.4.7.Middle East 

7.4.7.1.Market size and forecast, by product type, 2020-2028
7.4.7.2.Market size and forecast, by cancer type, 2020-2028
7.4.7.3.Market size and forecast, by end user, 2020-2028
7.4.7.4.Comparative market share analysis, 2020 & 2028

7.4.8.Africa

7.4.8.1.Market size and forecast, by product type, 2020-2028
7.4.8.2.Market size and forecast, by cancer type, 2020-2028
7.4.8.3.Market size and forecast, by end user, 2020-2028
7.4.8.4.Comparative market share analysis, 2020 & 2028

8.Company profiles

8.1. Medtronic

8.1.1.Business overview
8.1.2.Financial performance
8.1.3.Product portfolio
8.1.4.Recent strategic moves & developments
8.1.5.SWOT analysis

8.2.Boston Scientific

8.2.1.Business overview
8.2.2.Financial performance
8.2.3.Product portfolio
8.2.4.Recent strategic moves & developments
8.2.5.SWOT analysis

8.3.BD

8.3.1.Business overview
8.3.2.Financial performance
8.3.3.Product portfolio
8.3.4.Recent strategic moves & developments
8.3.5.SWOT analysis

8.4.Terumo

8.4.1.Business overview
8.4.2.Financial performance
8.4.3.Product portfolio
8.4.4.Recent strategic moves & developments
8.4.5.SWOT analysis

8.5.Merit Medical

8.5.1.Business overview
8.5.2.Financial performance
8.5.3.Product portfolio
8.5.4.Recent strategic moves & developments
8.5.5.SWOT analysis

8.6.AngioDynamics

8.6.1.Business overview
8.6.2.Financial performance
8.6.3.Product portfolio
8.6.4.Recent strategic moves & developments
8.6.5.SWOT analysis

8.7.J&J

8.7.1.Business overview
8.7.2.Financial performance
8.7.3.Product portfolio
8.7.4.Recent strategic moves & developments
8.7.5.SWOT analysis

8.8.Teleflex

8.8.1.Business overview
8.8.2.Financial performance
8.8.3.Product portfolio
8.8.4.Recent strategic moves & developments
8.8.5.SWOT analysis

8.9.Cook Medical

8.9.1.Business overview
8.9.2.Financial performance
8.9.3.Product portfolio
8.9.4.Recent strategic moves & developments
8.9.5.SWOT analysis

8.10.HealthTronics

8.10.1.Business overview
8.10.2.Financial performance
8.10.3.Product portfolio
8.10.4.Recent strategic moves & developments
8.10.5.SWOT analysis

Interventional oncology (IO) is an emerging subspecialty that utilizes image-guided surgeries or procedures to improve cancer care across the world. Advancements in IO include cross-sectional imaging modalities like magnetic resonance, computed tomography, and positron emission tomography. In addition, the intervention oncology has developed over the years with its shift towards more patient-centered and personalized treatment approached. Furthermore, one of the latest innovations in intervention oncology is offering therapeutic agents directly into the cancer tumors by direct intratumoral injection or catheter. Also, guided imaging has also been utilized for offering bacterial and viral therapies to destroy cancer cells.

Forecast Analysis:

Increasing rate of cancer cases among people across the world and the growing aging population are the main factors predicted to drive the global interventional oncology market by 2028. In addition, noteworthy expansion of medical and healthcare establishments across countries like Japan, India, and China is expected to offer abundant growth opportunities for the market during the analysis timeframe. However, lack of information regarding intervention oncology in establishing countries is the prime factor anticipated to impede the market growth during the forecast years.

Regionally, the interventional oncology market in the North America region is estimated to observe tremendous growth and register a revenue of $1,434.7 million by 2028 owing to the increasing geriatric population along with the prevalence of cancer among people. In addition, growing cancer-centric healthcare expenditure and need for advanced cancer care options in the US and Canada is further expected to boost the growth of interventional oncology market in the North America region.

According to the report published by Research Dive, the global interventional oncology market is expected to generate a revenue of $3,313.5 million in the 2021-2028 timeframe, growing exponentially at a CAGR of 6.7%. The major players of the interventional oncology market include HealthTronics, Terumo, Medtronic, AngioDynamics, Boston Scientific, BD, Teleflex, Cook Medical, Merit Medical, J&J, and many others.

Covid-19 Impact on the Market:

The onset of the Covid-19 pandemic has negatively affected the global interventional oncology market. Due to strict lockdowns and mobility restrictions imposed by governments, several hospitals and clinic centers turned their operating units to intensive care units (ICU), thus impacting the market growth during the pandemic. However, a few healthcare companies exhibited innovative technologies to aid in planning, targeting, and delivering tumor ablation. This factor is anticipated to offer enormous growth opportunities for the interventional oncology market post pandemic.

Key Developments of the Market:

The major companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global interventional oncology market to grow exponentially. For instance:

In November 2021, MEDX Xelerator, an Israeli-based medical device incubator, announced its collaboration agreement with West Pharmaceutical Services, an established company in injectable drug administration. The latter has agreed to offer funding for the initial phases of concept venture creations at the incubator. Moreover, the funding would be majorly used to assist growing number of personnel required to manage the incubator projects.

In December 2021, Argon Medical Devices Inc., a leading manufacturer of interventional medical devices, announced its acquisition of Matrex Mold & Tool Inc., a custom mold manufacturer for plastic injection molding. The decision was made with an aim to supply products despite widespread supply chain disruptions and transportation delays.

In July 2021, Rajiv Gandhi Cancer Institute and Research Center announced its decision to install Siemens Healthineers’ BioMatrix 3T MR System- MAGNETOM Vida. This is the first 3T MR scanner that is built to overcome imaging challenges by adjusting automatically to the patient’s bio variability for enabling personalized examinations. Some of the attractive benefits of MAGNETOM Vida are fewer rescans, high-quality personalized exams for clinical research, and predictable scheduling. Its field strength is 3 Tesla and has zero helium boil-off technology along with both active and passive shimming.

Purchase Options

Personalize this research

  • Triangulate with your own data
  • Request your format and definition
  • Get a deeper dive on a specific application, geography, customer or competitor
10% Off on Customization
Contact Us

Customers Also Viewed