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Interventional Oncology Devices Market: Exploring Market Size, CAGR, Key Drivers, and Emerging Trends
Interventional Oncology Devices Market Size
What Is The Projected Market Size Of The Global Interventional Oncology Devices Market And Its Growth Rate?
The interventional oncology devices market displays strong growth indicators:
• Market Size in 2024: It will grow from $2.39 billion
• CAGR in 2024-2025: Growth at a compound annual growth rate (CAGR) of 5.3%
• Market Size in 2025: Reach a value of $2.52 billion
Looking into the future:
• Estimated Market Size in 2029: Expected to rise to $3.34 billion
• Projected CAGR from 2025-2029: Expected to grow at a compound annual growth rate (CAGR) of 7.3%
What Is Driving The Growth In The Interventional Oncology Devices Market?
The growth trajectory of the interventional oncology devices market is largely guided by advancements in technology that improve diagnostic accuracy and treatment efficacy. One such emerging technology pertains to focusing on tissue volume during oncology procedures. Tissue volume refers to the volume of biological tissue collected during a biopsy procedure, where larger samples increase diagnostic accuracy and improve treatment plans. Major industry player, Argon Medical, launched a product in June 2023 named SuperCore Advantage, a semi-automatic biopsy device that can collect up to 35% more samples than its competitors. This capability reduces the need for multiple passes during biopsies and aids in ensuring adequate tissue samples for accurate diagnosis.
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Who Are the Key Players Driving Interventional Oncology Devices Market Growth?
Major players steering the interventional oncology devices market include:
• Boston Scientific Corporation
• Terumo Corporation
• Siemens Healthineers
• Sirtex Medical Limited
• Viant Medical
• AngioDynamics Inc.
• Pfizer
• Steris Applied Sterilization Technologies
What Are The Key Trends In The Interventional Oncology Devices Market?
Key trends shaping the market include:
• Focus on developing advanced image-guided oncology devices
• Utilization of AI to develop innovative devices
• Development of new, innovative embolic devices for improved oncology procedures
• Increasing use of robotics technology in oncology devices
• Collaboration between companies and research institutes to accelerate product development and innovation
What Are The Segments Of The Global Interventional Oncology Devices Market?
The interventional oncology devices market can be segmented as:
1) By Product: Embolization Devices, Ablation Devices, Support Devices
2) By Procedure: Thermal Tumor Ablation, Non-Thermal Tumor Ablation, Transcatheter Arterial Chemoembolization (TACE), Selective Internal Radiation Therapy (SIRT), Transcatheter Arterial Embolization (TAE), Bland Embolization
3) By Cancer Type: Liver Cancer, Kidney Cancer, Lung Cancer, Bone Cancer, Other Cancer Types
Which Region Leads The Interventional Oncology Devices Market?
North America was the largest region in the interventional oncology devices market in 2024 closely followed by Asia-Pacific. This report also covers other regions like Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Interventional Oncology Devices Market Global Market Report?
- Market Size Analysis: Analyze the Interventional Oncology Devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Interventional Oncology Devices Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Interventional Oncology Devices Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Interventional Oncology Devices Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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