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Oncology Devices Market Insights, Industry Outlook, Growing Trends And Demands
Oncology Devices Market Insights
As per the report, the oncology devices market size has grown rapidly in recent years. It will grow from $128.46 billion in 2023 to $153.93 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The oncology devices market size is expected to see rapid growth in the next few years. It will grow to $298.31 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%.
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Rising Global Cancer Cases Drive Demand For Oncology Devices And Drugs
A growing number of cancer cases across the globe is anticipated to boost the demand for the oncology devices market. Cancer is a major health problem across the globe and is the second leading cause of death in the USA. The increasing incidence of cancer is contributing to the surge in demand for oncology devices to treat cancer patients. The four most common types of cancer globally are prostate, lung, bowel, and female breast cancer, accounting for 43% of all new cancer cases. According to the American Cancer Society, there were 1.9 million new cases and 608,570 cancer deaths in 2021 in the USA. Therefore, the rise in cancer incidence is anticipated to boost the demand for the oncology drugs market.
Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers
Major companies operating in the oncology devices market are focusing on innovative products such as benchmark ultra plus system to drive revenues in their market. The benchmark ultra plus system is a fully automated and integrated platform used in pathology and diagnostic laboratories for various laboratory processes, including the preparation, staining, and imaging of tissue samples and slides. For instance, in June 2022, F. Hoffmann-La Roche AG, a Switzerland-based healthcare company that manufactures oncology devices launched the benchmark ultra plus system. This system comes with a number of advances, including updated software that is more user-friendly, remote monitoring capabilities, an integrated touchscreen for an improved user experience, and a more environmentally friendly waste system and product packaging. It can deliver high-quality, urgent results to physicians and patients because of its optimized workflow, testing effectiveness, and environmentally friendly features .
The oncology devices market covered in this report is segmented -
1) By Device Type: Brachytherapy Devices, Endoscopic Devices
2) By Therapy: Chemotherapy, Hormone Therapy, Biotherapy/Immunotherapy, Radition Therapy
3) By End User: Hospitals, Cancer Research Institutes, Other End Users
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Major companies operating in the oncology devices market include Eckert & Ziegler BEBIG GmbH, Oncura Inc., GE Healthcare, Medtronic plc, Varian Medical Systems Inc., Elekta AB, Theragenics Corporation, Accuray Incorporated, Roche Diagnostics, IBA Group, Biogenex Laboratories, Becton Dickinson and Company, Siemens Healthineers, Philips Healthcare, Hologic Inc., IBA AG, ViewRay Inc., Canon Medical Systems Corporation, Brainlab, PerkinElmer, RaySearch Laboratories, Mevion Medical Systems, Vision RT, IsoRay, RefleXion Medical, Alpha Tau Medical, Nanobiotix, Mirada Medical Ltd., Navidea Biopharmaceuticals Inc.
Contents of the report:
1. Executive Summary
2. Oncology Devices Market Report Structure
3. Oncology Devices Market Trends And Strategies
4. Oncology Devices Market - Macro Economic Scenario
5. Oncology Devices Market Size And Growth
…..
27. Oncology Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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