Emerging Oncology Devices Market Trends: Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers Shaping the Future of the Industry

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Oncology Devices Market Size Growth Forecast: What to Expect by 2025?
The market for oncology devices has expanded substantially in the past few years. The market value, which stood at $150.3 billion in 2024, is projected to reach $178.95 billion in 2025, indicating a compound annual growth rate (CAGR) of 19.1%. The substantial growth during this historic phase is primarily due to the increasing occurrence of cancer, an aging population, the rising demand for personalized cancer treatments, and genomic profiling.

How Will the Oncology Devices Market Size Evolve and Grow by 2029?
The market size of oncology devices is set for a swift expansion in the upcoming years, expected to reach $346.48 billion in 2029, boasting a compound annual growth rate (CAGR) of 18.0%. The predicted ascension for the forecast period can be linked to factors like the adoption of minimally invasive surgical methods, biodegradable implants, the global broadening of healthcare, models of value-based care, and the incorporation of digital health. Leading trends for the forecast period encapsulate improvements in radiation therapy, early detection technologies, advancements in the field of oncology devices, liquid biopsies, and the utilization of AI for decision making.

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What Drivers Are Propelling the Growth of Oncology Devices Market Forward?
The escalating quantity of cancer diagnoses worldwide is expected to stimulate the oncology devices market's demand. Cancer represents a significant health concern globally and is the second most common cause of death in the United States. The growing cases of cancer are leading to an increased necessity for oncology devices for patient treatment. For instance, in October 2022, Macmillan Cancer Support, a health care charity based in the UK, projected that 3.5 million people will be diagnosed with cancer by 2025, 4 million by 2030, and 5.3 million by 2040. Consequently, this rising prevalence of cancer is anticipated to heighten the demand for the oncology drugs market.

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Which Emerging Trends Are Transforming the Oncology Devices Market in 2025?
Leading firms in the oncology devices market are investing in groundbreaking wares such as the benchmark ultra plus system to augment sales within their sector. The benchmark ultra plus system is a completely automated and cohesive platform applied in pathology and diagnostic labs for assorted laboratory procedures, inclusively preparing, staining as well as imaging of tissue samples and slides. Case in point, in June 2022, F. Hoffmann-La Roche AG, a healthcare organization based in Switzerland that manufactures oncology devices, debuted the benchmark ultra plus system. The system is accompanied by several enhancements, amongst them an upgraded user-friendly software, remote surveillance functions, an integrated touchscreen for superior user interaction, and a waste system and product packaging that is more compatible with the environment. Owing to its advanced workflow, efficient testing, and eco-friendly attributes, it can provide physicians and patients with urgent, high-quality results.

What Are the Key Segments in the Oncology Devices Market?
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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Who Are the Key Players Shaping the Oncology Devices Market's Competitive Landscape?
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.

What Geographic Markets Are Powering Growth in the Oncology Devices Market?
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.

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