Westford USA, July 17, 2023 (GLOBE NEWSWIRE) -- The global Interventional Oncology market size is expected to reach USD 4127.28 million by 2030 and exhibit a CAGR of 7.6% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing incidence and prevalence of cancer globally, advancements in interventional oncology techniques and technologies, growing preference for minimally invasive procedures, rising demand for targeted and personalized cancer treatments, expanding applications of interventional oncology across various cancer types, favorable reimbursement policies for interventional oncology procedures, collaborations and partnerships between medical institutions and industry players, growing awareness about the benefits of interventional oncology in terms of reduced side effects and improved patient outcomes, rising adoption of image-guided procedures for accurate tumor targeting, and integration of interventional oncology with other treatment modalities like chemotherapy and radiation therapy is fueling the market's growth.
According to SkyQuest's latest global research of the Interventional Oncology market, increasing adoption of minimally invasive therapies, such as radiofrequency ablation and microwave ablation, rising utilization of image-guided techniques for precise tumor targeting, growing focus on combination therapies integrating interventional oncology with other treatment modalities, the emergence of novel embolic agents and drug-eluting technologies for targeted delivery of therapeutics, expanding applications of interventional oncology in the treatment of liver, lung, kidney, and bone cancers, advancements in imaging technologies enabling real-time monitoring and assessment of treatment efficacy, utilization of interventional oncology in palliative care to provide symptom relief and improve quality of life, are the trends that aid in the market's growth.
Browse in-depth TOC on "Interventional Oncology Market"
- Pages - 242
- Tables - 147
- Figures -78
Interventional oncology is a field of medicine that uses minimally invasive procedures to treat cancer. These procedures are used to deliver drugs, heat, or radiation directly to tumors, while minimizing damage to surrounding tissue. Interventional oncology is a rapidly growing field, and it is becoming an increasingly important part of cancer treatment.
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Prominent Players in Interventional Oncology Market
- Boston Scientific Corporation
- Medtronic plc
- Terumo Corporation
- AngioDynamics
- Merit Medical Systems, Inc.
- Cook Medical
- CR Bard
- Asahi Intecc
- Lepu Medical Technology
- Taewoong Medical
- Edap Tms
- Galil Medical
- Speckle Medical
- Ion Beam Applications
- Varian Medical Systems
- Elekta
- Accuray Incorporated
- RaySearch Laboratories
- Sirtex Medical
- Cianna Medical
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 2134.78 Million |
| 2030 Value Projection | 4127.28 Million |
| CAGR | 7.6% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Tumor ablation Demand to Grow Substantially in the Forecast Period
Tumor ablation dominated the global online market as they are minimally invasive, involving small incisions or needle insertions. This approach offers several advantages, including reduced trauma, shorter recovery time, and lower complication rates compared to traditional surgical interventions. Patients often prefer minimally invasive procedures due to their potential for quicker recovery and reduced postoperative discomfort.
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Hospitals are the Leading Application Segment
In terms of application, hospitals are the leading segment as they provide a wide range of interventional oncology procedures, along with other treatment modalities such as surgery, chemotherapy, and radiation therapy. Hospitals offer comprehensive cancer care, making them a significant contributor to the interventional oncology market.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has a relatively high incidence of cancer, which drives the demand for advanced cancer treatments, including interventional oncology procedures. The prevalence of cancer cases in the region provides a significant market opportunity for interventional oncology products and services.
A recent report thoroughly analyzes the major players operating within the Interventional Oncology market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Interventional Oncology.
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Key Developments in Interventional Oncology Market
- In July 2023: Boston Scientific announced that it would acquire Cianna Medical, a company that develops and markets microneedles for the treatment of cancer. The acquisition is expected to help Boston Scientific expand its interventional oncology portfolio.
- In June 2023: Elekta announced that it would acquire RaySearch Laboratories, a company that develops and markets radiation therapy treatment planning software. The acquisition is expected to help Elekta strengthen its position in the radiation therapy market.
Key Questions Answered in Interventional Oncology Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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