Dublin, March 26, 2024 (GLOBE NEWSWIRE) -- The "Interventional Oncology Devices Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Market Expansion Driven by Aging Population and Technological Innovations
The global interventional oncology devices market is witnessing a robust growth trajectory as it capitalizes on the aging population and cancer prevalence. Forecasts project a growth from $2.5 billion in 2024 to $3.25 billion in 2028, charting a compound annual growth rate of 6.7%. This thriving sector benefits from an increased emphasis on minimally invasive procedures, heightened R&D investments, and growth in healthcare facilities worldwide.
Technological Advancements Fueling Market Development
Innovation is at the forefront of market growth, with a notable focus on advanced, image-guided devices and the integration of artificial intelligence in product development. The recent FDA approval of Quantum Surgical’s Epione platform underscores the integration of robotics in interventional oncology, promising greater precision and efficiency in cancer treatment procedures.
Funding Influx Supports Research and Product Advancements
Significant funding from both private and government sources continues to nourish the development of the interventional oncology devices. Noteworthy venture investments and enhanced cancer research funding are driving early detection and survival rates, fostering innovative technology and devices within the market.
Increasing Cancer Prevalence: A Major Market Driver
The rising incidence of cancer globally is shaping a growing demand for interventional oncology devices for diagnosis, treatment, and management. As cancer figures are estimated to ascend in the coming years, this sector is expected to witness substantial growth, responding to the imperative need for efficient cancer care.
Acquisitions and Product Launches Reflect Market Dynamism
Prominent players in the interventional oncology devices market are engaging in strategic acquisitions and new product launches. The recent acquisition of Obsidio Inc. by Boston Scientific Corporation and the launch of innovative AI-powered digital pathology solutions by Paige AI Inc. exemplify industry efforts to reinforce market positions through enhanced portfolios and cutting-edge technologies.
Regional Insights and Product Landscape
North America remains the leading region in the interventional oncology devices market, with Asia-Pacific following closely. Compelling growth in these regions underscores the global reach of interventional oncology efforts. The market comprises an array of products, including embolization devices, ablation devices, and related support devices, addressing a spectrum of cancer types and treatments. The global interventional oncology devices market research report provides comprehensive insights into the current and future market scenario, product segmentation, and the competitive landscape, equipping stakeholders with essential information for strategic decision-making. The market's valuation reflects the revenue generated from the sales and services of various interventional oncology products by manufacturers and creators worldwide.
A selection of companies mentioned in this report includes
- Boston Scientific Corporation
- Terumo Corporation
- Siemens Healthineers
- Sirtex Medical Limited
- Merit Medical Systems, Inc.
- Merck & Co. Inc.
- CVS Health
- Henlius
- Viant Medical
- AngioDynamics Inc.
- Pfizer
- Steris Applied Sterilization Technologies
- CoDr.Reddys
- International SOS
- CapeRay
- Innovent Biologics
- Novartis AG
- Consonance
- ABLbio
- Adimmune
- Heraeus Medical
- Bioavlee
- Mediceena International
- Sinapi biomedical
For more information about this report visit https://www.researchandmarkets.com/r/rdpoxe
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