Interventional Oncology Market, By Procedure (Embolization Procedure, Ablation Procedure, Radiotherapy Procedure), By Indication (Lung Cancer, Renal Cancer, Osteosarcoma, Hepatocellular Carcinoma, Splenomegaly), By End-user (Hospitals, Clinics, Ambulatory Surgical Centers), By Region Analysis - Global Analysis and Industry Forecast Report Till 2030.

Interventional Oncology Market is projected to grow from $1.99 billion to $4.20 billion, at a CAGR of 8.64% during the forecast period.

Interventional oncology procedures consist of diagnosing and treating cancer using minimally invasive procedures performed under an image-guided program. Interventional oncology processes utilize equipment such as X-rays, computed tomography, ultrasound and magnetic resonance imaging for image guidance. Interventional oncology procedures are performed using accessories and instruments including biopsy needles, guide wires, ablation electrodes, and endovascular catheters that can remove tumors from the body. Interventional oncology is used to treat metastatic and primary cancers such as liver, kidney, bone, and breast cancer.

Growing demand for minimally invasive procedures that lead to multiple benefits such as the minimized risk of infection, reduced complications, shorter hospital stay, and faster recovery compared to invasive surgery is a major factor driving the growth of the global interventional oncology market. Additionally, increasing prevalence of cancer, technological advancements and new product launches are some of the factors driving the growth of the global interventional oncology market.

Interventional oncology procedures offer a range of minimally invasive cancer treatments that have revolutionized the field of oncology. Image-guided tumor ablation techniques such as radiofrequency ablation (RFA), microwave ablation, cryoablation, and percutaneous tumor embolization provide effective alternatives to traditional surgical approaches. Transarterial chemoembolization (TACE), a method of delivering chemotherapy directly to the tumor site, and selective internal radiation therapy (SIRT) and radioembolization, which utilize radioactive particles to target tumors, have shown promising results. The integration of interventional radiology in oncology has opened up new avenues for precise and targeted therapies, allowing patients to undergo treatment with reduced pain, shorter recovery times, and improved outcomes.

Market Dynamics:

Drivers:

Growing demand for minimally invasive therapies is a major driver for interventional oncology market growth. These procedures can also be used to treat patients with other related comorbidities or who are inoperable. The ability of minimally invasive techniques to treat cancer cells better than alternative cancer treatments such as radiation therapy, surgery, and systemic chemotherapy has helped the technique gain popularity. In addition, a major factor boosting demand for cancer therapies is the rising prevalence of chronic diseases like cancer around the world.

New cancer cases globally are projected to increase by over XX% over the next years, a major factor that will play a significant role in stimulating the demand for interventional oncology globally. There is also a surge in cancer awareness and acceptance of interventional oncology procedures to detect and treat cancer. Increased investment by biopharmaceutical industry players in research is also fueling the interventional oncology market growth.

Restraints:

A shortage of skilled and well-trained radiologists and oncologists and unfavorable government regulations are likely to act as market-limiting factors for the growth of interventional oncology during the forecast period mentioned above. Limited clinical data to support treatment efficacy, with prevalence of alternative therapies likely to be the biggest and most important challenge for market growth.

The global interventional oncology market has been negatively impacted due to growth during the pandemic period. This is due to challenges faced by manufacturers of interventional oncology devices, such as disruptions to the supply chain of raw materials due to lockdowns and the closure of various production facilities. In addition, most industries are experiencing supply shortages due to operating restrictions due to a lack of skilled laboratory professionals to perform diagnostic tests, lack of funding for research purposes by academic and research institutions, and temporary closures of manufacturers and academic institutions. Provides interventional oncology products to end users.

Opportunities:

Rising healthcare spending is a positive indicator for all medical device markets, including interventional oncology. Additionally, rising health care spending is an indicator of increased patient access to health care, which ultimately leads to the development of improved health care facilities and related treatments. According to the World Health Organization, health care spending in low- and middle-income countries is growing at an average rate of XX% per year, compared to XX% in high-income countries. Therefore, for the reasons mentioned above, the adoption of advanced tools and equipment including interventional oncology market is increasing in emerging countries in Asia and Latin America.

Key Players:

• Atricure

• Baylis Medical

• Bovie Medical

• Brainlab

• Bsd Medical

• C. R. Bard

• C2 Therapeutics

• Cardiofocus

• Cook Medical

• Eckert And Ziegler Bebig

• Edap Tms

• Elekta

• Galil Medical

• Healthtronics

Market Segmentation:

Interventional Oncology Market, By Procedure

• Ablation Procedure

• Embolization Procedure

• Radiotherapy Procedure

Interventional Oncology Market, By Indication

• Lung Cancer

• Renal Cancer

• Osteosarcoma

• Hepatocellular Carcinoma

• Splenomegaly

Interventional Oncology Market, By End-user

• Hospitals

• Clinics

• Ambulatory Surgical Centers

Interventional Oncology Market, By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa (MEA)

Regional Analysis:

A sizable portion of the worldwide interventional oncology market was in North America. Another important factor that will drive the interventional oncology market during the forecast period is the significant uptake of minimally invasive surgery for efficient cancer management, well-established healthcare infrastructure, and early adoption of technologically advanced interventional oncology products.

The interventional oncology market in Asia Pacific is driven by high prevalence of cancer in populous countries of India and China, rapidly changing health care systems, various government initiatives to improve overall health care, and rising per capita health care spending. Additionally, increasing investments by major global interventional oncology device companies in the region is likely to further boost the Asia Pacific market over the forecast period.

Scope of the report:

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