Interventional Oncology Market Expands Amid Rising Cancer Cases: Persistence Market Research

The interventional oncology market is a rapidly growing sector of the global healthcare industry, poised for significant expansion over the coming years. This market, which provides a range of minimally invasive treatment options for cancer patients, is estimated to grow from US$ 2.1 billion in 2024 to US$ 3.5 billion by 2031, reflecting a compound annual growth rate (CAGR) of 8.1% during the forecast period. The adoption of interventional oncology techniques, which primarily focus on treating cancer using minimally invasive approaches such as radiofrequency ablation (RFA), microwave ablation, and cryotherapy, has gained momentum due to their ability to target tumors precisely with reduced patient risk and recovery time.

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Several key growth drivers are fueling this surge in the interventional oncology market. The increasing prevalence of cancer worldwide is one of the most significant factors contributing to this growth. Alongside the rising number of cancer cases, there is a growing emphasis on improving patient outcomes and minimizing the discomfort typically associated with conventional cancer treatments, such as surgery and chemotherapy. This has created an ideal environment for minimally invasive therapies, which help reduce hospitalization time, lower infection risks, and offer quicker recovery compared to traditional procedures. Among the leading segments, ablation devices are projected to experience substantial growth. In particular, advancements in ablation technologies and enhanced imaging systems are expected to play a major role in driving market demand. Geographically, North America is currently the leading region for interventional oncology procedures, driven by its highly advanced healthcare infrastructure, robust cancer care network, and strong investments in medical research and innovation.

Key Highlights from the Report

• The global interventional oncology market is projected to grow from US$ 2.1 Bn in 2024 to US$ 3.5 Bn by 2031.

• The CAGR for the market from 2024 to 2031 is expected to be 8.1%.

• Ablation devices are anticipated to dominate the product segment, with a projected CAGR of 8.7%.

• North America is expected to experience a CAGR of 8.3% through 2031, owing to its advanced healthcare systems and high cancer prevalence.

• The increasing adoption of minimally invasive techniques like radiofrequency and cryoablation is a key growth driver.

• Asia Pacific is forecast to exhibit the highest growth rate during the forecast period due to improvements in healthcare infrastructure and rising awareness.

Market Segmentation

The interventional oncology market is segmented into several categories based on product type, cancer type, end user, and region. Each of these categories plays a crucial role in shaping the overall dynamics of the market.

Product Type Segmentation

The market is divided into radiation therapy devices, ablation devices, and embolization devices. Among these, ablation devices dominate the market due to their increasing use in cancer treatment. Ablation therapies, including radiofrequency ablation (RFA), microwave ablation, and cryoablation, allow for the destruction of tumors with minimal invasiveness. These technologies have gained significant traction in treating a wide variety of cancers, particularly in organs like the liver, lungs, and kidneys. Furthermore, innovations in device design and enhanced imaging technologies continue to improve the effectiveness of ablation procedures.

Cancer Type Segmentation

In terms of cancer types, lung cancer is expected to lead the market, exhibiting a CAGR of 8.7%. Lung cancer remains one of the most prevalent cancers worldwide, driving substantial demand for effective, minimally invasive treatment options. Interventional oncology procedures like ablation and embolization are frequently used for lung cancer due to their ability to precisely target and treat tumors without the need for open surgery. Liver cancer and kidney cancer also represent significant portions of the market, though lung cancer's dominance is expected to continue through the forecast period.

End-User Segmentation

The primary end-users in the interventional oncology market are hospitals, specialty clinics, and ambulatory surgical centers (ASCs). Hospitals, particularly those equipped with advanced oncology departments, represent the largest end-user category. However, specialty clinics and ASCs are experiencing rapid growth as healthcare systems continue to prioritize patient convenience, faster recovery times, and cost-effectiveness. These settings, with their specialized focus on interventional oncology procedures, are increasingly becoming key players in the market.

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Regional Insights
North America

North America is the dominant region in the interventional oncology market, accounting for a substantial share of the global market revenue. The region is expected to continue its leading role, with a projected CAGR of 8.3% from 2024 to 2031. The primary drivers for this growth include the presence of a highly developed healthcare infrastructure, increasing cancer incidence rates, and a strong emphasis on medical innovation. The U.S., in particular, has a well-established network of hospitals, specialty centers, and research institutions that contribute to advancements in interventional oncology techniques.

Asia Pacific

Asia Pacific is anticipated to exhibit the highest growth rate in the coming years. Key factors contributing to this growth include the region's rapidly increasing cancer prevalence, significant advancements in healthcare infrastructure, and a growing aging population. Moreover, rising awareness about interventional oncology treatments and government initiatives aimed at improving cancer care further support the expansion of the market in this region. Countries like China and India are expected to be major contributors, owing to their large populations and increasing healthcare investments.

Europe

Europe also holds a significant share of the global interventional oncology market, driven by the region's well-established healthcare system and increasing prevalence of cancer. Countries like Germany, the UK, and France are expected to continue showing strong demand for minimally invasive cancer treatments.

Latin America, Middle East, and Africa

While these regions contribute a smaller portion of the overall market, they are experiencing steady growth driven by improvements in healthcare access, rising cancer awareness, and greater adoption of interventional oncology techniques.

Market Drivers

The increasing prevalence of cancer is the foremost driver behind the growth of the interventional oncology market. According to the World Health Organization, cancer incidence continues to rise globally, placing a greater burden on healthcare systems and prompting the demand for innovative treatment options. Traditional surgical methods are being replaced or complemented by minimally invasive interventional techniques, such as radiofrequency ablation, microwave ablation, and cryotherapy, which reduce patient recovery times and healthcare costs.

Furthermore, the growing preference for minimally invasive treatments is another key factor propelling the market. Patients are increasingly opting for therapies that minimize pain, reduce recovery times, and limit hospital stays. As a result, these techniques are becoming increasingly popular for treating various types of cancer, including lung, liver, and kidney cancer.

The advancement in imaging technologies also plays a crucial role in driving the market. With the integration of high-resolution imaging tools like MRI and CT scans, oncologists can perform more precise tumor targeting, ensuring better outcomes for patients. These advancements not only make procedures safer but also enhance the overall effectiveness of interventional oncology treatments.

Market Restraints

Despite the positive growth trends, several factors are restraining the market's potential. The limited accessibility to interventional oncology treatments in low- and middle-income countries remains a significant challenge. In many of these regions, the lack of specialized healthcare infrastructure, skilled professionals, and advanced medical equipment hampers the widespread adoption of these technologies. Furthermore, healthcare affordability remains a concern, particularly in developing regions, which limits the accessibility of advanced cancer treatments for a large portion of the population.

Additionally, the high cost of interventional oncology procedures can deter patients from opting for these treatments, particularly when compared to traditional, more established methods of cancer treatment. This can further contribute to unequal access to these life-saving therapies.

Market Opportunities

There are several opportunities for market expansion in the interventional oncology sector. The development of new interventional devices and advanced imaging tools offers significant potential for growth. Innovations such as more effective catheter systems, advanced cryoablation tools, and next-generation ablation devices can improve the safety and precision of treatments, which in turn can lead to better patient outcomes.

Moreover, the personalization of cancer treatments is a growing trend in the market. Advances in genomics and molecular diagnostics are enabling more tailored approaches to treatment, which could lead to more effective interventional oncology procedures. This shift towards personalized care is expected to continue driving innovation and market growth in the coming years.

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Company Insights

The key players operating in the interventional oncology market include:

• Profound Medical
• Medtronic Plc.
• Hologic, Inc.
• Boston Scientific Corporation
• AngioDynamics
• Terumo Corporation
• Teleflex Incorporated
• Alpinion Medical Systems Co. Ltd.
• Siemens Healthineers
• Merit Medical

Interventional Oncology Industry Segmentation

By Product

Radiation Therapy Devices
Ablation Devices
Embolization Devices

By Cancer Type

Lung Cancer
Liver Cancer
Kidney Cancer
Others

By End User

Hospitals
Specialty Clinics
Ambulatory Surgical Centre

By Region

North America
Europe
Asia Pacific
The Middle East and Africa
Latin America

Recent Developments

January 2024: Delcath Systems, Inc. announced the first commercial use of its HEPZATO KIT for the treatment of metastatic uveal melanoma. This combination drug/device product administers the drug HEPZATO (melphalan) directly to the liver, offering higher drug exposure in target tissues and limiting systemic toxicity.

May 2023: IceCure Medical installed its ProSense System at Kovai Medical Center and Hospital in Coimbatore, India. This minimally invasive cryoablation technology offers an alternative to surgical tumor removal, further advancing interventional oncology options.

Conclusion

The interventional oncology market is undergoing a period of significant growth, driven by advancements in medical technologies, increasing cancer prevalence, and the rising demand for minimally invasive treatment options. North America currently leads the market, but regions like Asia Pacific are poised for rapid growth. Ablation devices and lung cancer treatments are expected to dominate the market, with continued innovations in medical devices and imaging technologies opening up new opportunities. Despite some barriers, such as limited accessibility in certain regions, the market is well-positioned for continued expansion as healthcare systems across the globe continue to embrace minimally invasive oncology treatments.

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