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Oncology Devices Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Oncology Devices
What Is the Current Oncology Devices Market Size and Its Estimated Growth Rate?
The oncology devices market has shown rapid growth, rising from $150.3 billion in 2024 to $178.95 billion in 2025 at a CAGR of 19.1%. The growth is attributed to the increasing prevalence of cancer, the aging population, a higher demand for personalized cancer treatments, and the use of genomic profiling.
The oncology devices market is expected to see significant growth, reaching $346.48 billion by 2029 at a CAGR of 18.0%. Growth will stem from less invasive procedures, biodegradable implants, global TH*Care development, value-based care, and digital health. Trends to monitor include advancements in radiation therapy, early diagnostics, liquid biopsies, and AI-driven tools.
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How Are Emerging Segments Shaping the Oncology Devices Market Landscape?
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
Subsegments:
1) By Brachytherapy Devices: Afterloaders (High-Dose Rate (HDR) And Low-Dose Rate (LDR)), Applicators, Seeds, Accessories
2) By Endoscopic Devices: Endoscopes (Flexible, Rigid, Capsule), Endoscopic Ultrasound Systems, Endoscopic Accessories
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Which Growth Factors Are Influencing Oncology Devices Market Expansion?
The increasing global incidence of cancer is set to boost the oncology devices market. Cancer is one of the top causes of death worldwide, driving the need for effective diagnostic and treatment devices. Macmillan Cancer Support estimated in October 2022 that the number of people with cancer in the UK will reach 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. This growing prevalence supports the rise in demand for oncology devices.
Who Are the Dominant Players Across Different Oncology Devices Market Segments?
Major companies operating in the oncology devices market include Eckert & Ziegler BEBIG GmbH, Oncura Inc., GE TH*Care, 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 TH*Care, 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.
What Oncology Devices Market Trends Are Gaining Traction Across Different Segments?
Leading companies in the oncology devices market are launching cutting-edge products like the benchmark ultra plus system to drive revenue. In June 2022, Switzerland-based F. Hoffmann-La Roche AG released this fully automated diagnostic platform, featuring remote monitoring, improved software, and eco-friendly components, delivering fast and high-quality lab results.
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Which Geographic Regions Are Expected to Dominate the Oncology Devices Market in the Coming Years?
North America was the largest region in the oncology devices market in 2023. Asia-Pacific was the second-largest region in the oncology devices market report. The regions covered in the oncology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Oncology Devices Market?
2. What is the CAGR expected in the Oncology Devices Market?
3. What Are the Key Innovations Transforming the Oncology Devices Industry?
4. Which Region Is Leading the Oncology Devices Market?
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