Interventional Oncology Market Outlook 2024: Top Companies, Trends and Growth Factors Details for Business Development

2020 Research Report on Global Interventional Oncology Market is a professional and comprehensive report on the Interventional Oncology industry.

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Key Players: Medtronic Ireland, Boston Scientific US, BTG plc UK, Merit Medical Systems US, and TerumoJapan. The other prominent players operating in the overall interventional oncology market includeAngioDynamics US, Ethicon a part of J&J US, Teleflex US, Cook Medical US, HealthTronics US, MedWaves Medical US, Sanarus US, IMBiotechnologiesCanada, Trod Medical US, IceCure MedicalIsrael, Mermaid Medicals Denmark, and Interface Biomaterials BV Netherlands, among others.

"The global interventional oncology market is projected to grow at a CAGR of 6.8% during the forecast period"

Interventional oncology refers to the use of minimally invasive procedures performed for the diagnosis, treatment, or palliative care of cancer. The global interventional oncology market is projected to reach USD 2.9 billion by 2024 from USD 2.0billion in 2019, at a CAGR of 6.8% from 2019 to 2024. The growth of this market is primarily driven by the rising preference for minimally invasive procedures, expansion of the target patient population, increasing public-private funding and government support for cancer research, technological advancements in the field of interventional oncology, and increasing government investments and funding for interventional oncology and related cancer research. However, the dearth of well-trained and skilled radiologists and oncologists, high costs of interventional oncology procedures, and unfavorable regulations are expected to limit market growth to a certain extent.

"The transcatheter arterial radioembolization TARE or selective internal radiation therapy SIRT segment accounted for the largest share of the global interventional oncology market during the forecast period"

On the basis of procedure, the interventional oncology market is segmented into thermal tumor ablation, non-thermal tumor ablation, transcatheter arterial chemoembolization TACE, transcatheter arterial radioembolization TARE or selective internal radiation therapy SIRT, and transcatheter arterial embolization TAE or bland embolization procedures. In 2018, the TARE/SIRT procedures segment accounted for the largest share of this market majorly due to the rising prevalence of cancer, increasing demand for minimally invasive procedures, growing adoption of embolization procedures, and the clinical efficacy of Yttrium-90 radioembolic agents which are used in these procedures.

"The liver cancer segment accounted for the largest share of the interventional oncology market during the forecast period"

Based on cancer type, the interventional oncology market is segmented into liver cancer, lung cancer, kidney cancer, bone cancer, and other cancers. The other cancers segment includes pediatric cancer, prostate cancer, and breast cancer. The liver cancer segment accounted for the largest share in the interventional oncology market in 2018.

"Europe accounted for the second-largest share of the global market in 2018"

The interventional oncology market is segmented into five major regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe accounted for the second-largest share in 2018. The rising incidence of cancer, coupled with the growing geriatric population in Europe, is a key factor propelling the demand for interventional oncology products in this region. Prominent market players are focusing on improving the quality of patient care across Europe by commercializing advanced products, investing in technological innovations, and partnering with other institutions and organizations for spreading cancer awareness. This is another major factor driving market growth.

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In the end, the Global Interventional Oncology Market report's conclusion part notes the estimation of the industry veterans.

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